Morning Report: Net Accumulation seen at Junior Gold Miner February 15, 2008
Canada's morning overview of insider filings with a special focus on companies that may interest active and
momentum-oriented investors.
Canadian Company Insider Filing Tally* - Yesterday
INK Market-Wide Sentiment Indicator*
INK Market-Wide Sentiment Indicator: 208.6%
Indicator Level: Strong
*Filing Tally represents Toronto Stock Exchange and Venture companies with public-market transaction SEDI filings of directly-owned equity securities.
Indicators represent companies with buy-only transactions divided by companies with sell-only transactions of direct ownership equity securities in the
public-market by officers and directors (exclusive of officers and directors of subsidiaries or insiders) filed over the last 60 days. The chart line shows insider
sentiment trends by connecting the historic indicator daily readings going back one year. Indicator levels register "Weak" when less than 70%, "Neutral"
when between 70% and 90%, and "Strong" when over 90%.
- Please see the Market Report for more information on Canadian insider sentiment trends -
Overview: Sentiment and Stocks
While there has been some insider selling at Rainy River Resources (RR) over the past three months, officers and directors as
a group have been net acquirers of company stock when option exercises are considered. We take a look at recent filings
below.
Ted Dixon, CFA
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Providing Insider News and Knowledge to Investors in Canadian Markets
February 15, 2008
Today's Chart
Rainy River Resources Ltd. (RR)
Chart reflects public-market and option-exercise transactions of direct ownership common share (unit trust) by company officers
and directors. USD transactions are converted to Canadian dollars by us using the Bank of Canada noon rate on the transaction
date.
Over the past 90 days, Rainy River Resources (RR) board chair Leo Berezan has bought 55,000 shares in the public market.
His latest purchase took place on February 13th when he bought 40,000 shares at prices ranging between $5.45 and $5.50. He
also exercised 70,000 options at $1.30 in late January and has not subsequently sold any shares.
Two officers also exercised a combined total of 69,000 options at $1.30 without selling in January. Another director
exercised 200,000 options during the past three months at a strike price of $1.30 and subsequently sold 60,000 shares in the
public market at an average price of $4.65. Meanwhile, CEO Nelson Baker sold 25,000 shares at $4.40 on January 23rd. We
would not consider that a large sale.
With all these transactions taken into account, the insider bias at Rainy River is positive over the past 90 days. When both
public market and option exercise activities are added up, insiders have spent $331,340 on a net basis accumulating company
stock.
The company is developing its Rainy River gold deposit in western Ontario.