Globe and Mail todayMarathon PGM Corp (C-MAR) - In the News
Globe says insiders seen running with Marathon PGM
2010-04-26 05:30 ET - In the News
Shares issued 31,277,880
MAR Close 2010-04-23 C$ 2.12
The Globe and Mail reports in its Saturday, April 24, edition that Marathon PGM advanced five cents to finish Friday in Toronto at $2.12. The Globe's Ted Dixon writes in the Who Is Buying And Selling column that Marathon PGM is exploring for gold at Valentine Lake in Newfoundland. Mr. Dixon says the project background was brought to his attention by INK subscriber Nicholas Winton, publisher of the Hedgehog Trader. In a news release Marathon PGM chief executive officer Phillip Walford said: "From the first time I viewed the property, I felt that Valentine Lake had the potential to host a significant gold deposit. Everything we've achieved to date confirms this." On April 19, Mr. Walford exercised 100,000 options at $1.50. Director and former Vancouver Stock Exchange governor Robert Chilcott also exercised 57,000 options over the past 90 days. Neither officer has sold. Mr. Dixon says it is often a bullish signal when insiders exercise options but do not sell. While two other insiders sold a total of 30,800 shares this month, Mr. Dixon says that amount is not significant. Blackmont Capital analyst George Topping said buy Marathon in The Globe on Oct. 30 when it could be had for $1.20.