Dundee Ceo Buying Rsc sharesMORNING INK REPORT :: As Quebec Goes for Gold, is Uranium Insight?
January 12, 2010
Quebec seems to be the province in Canada that is winning the race to make the most out of the global resource revival following the Lehman collapse. In particular, last year the provincial government gave the green light to the Osisko Mining (OSK) Malartic project, a significant gold and silver deposit by global standards. The efficiency of the Quebec policy regime appears to be leaving provinces such as British Columbia in the dust where aspiring mines can get held back for years if not decades by special-interest red tape and challenging economics (editors note: we doubt the new BC harmonized sales tax will be a game changer).
The latest Quebec miner to catch our eye is Strateco Resources (RSC) which is exploring for uranium in the Otis Mountains of northern Quebec. If it is successful in bringing its Matoush uranium project into production, it could be the first uranium mine in the province. Insiders seem to be giving its chances a fair bet.
Strateco Resources (RSC)
Characteristics
Buys (000's) Sells (000's)
Marker Volume (Last 10 Days) 30,000 0
SEDI Market Volume (Last 10 Days) 30,000 0
Estimated Volume to be Filed 0 0
Quoted Market Value $108,407,724
Insider Holdings $18,943,342
Holdings % of QMV 17.47%
Over the past year, Strateco Resources (RSC) CEO Guy Hebert bought 775,000 shares in the public market at an average price of 80 cents. His latest trade took place on January 7th when he bought 30,000 shares between the prices of 85 and 86 cents.
The company has also attracted the interest of at least one other notable investor. On December 14th, Dundee Corporation CEO Ned Goodman filed a direct holding opening balance report of 400,000 shares in Strateco.