True Gold Mining chair buys after key financing deals

Although 2013 has been a tough year for junior miners, True Gold Mining Inc. has pulled off two significant financings. In May, it raised $10-million from Teck Resources and last month it raised $17.4-million in a private placement from Liberty Metals & Mining Holdings, a subsidiary of Boston-based Liberty Mutual Insurance. Both deals were done at 33 cents. Later, on August 8, board chair Mark O'Dea bought 200,000 shares in the public market at 27.4 cents. True Gold is focused on mine development in Burkina Faso.

Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.

Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.

Read more: Calibre Mining up 175 per cent after drill results

Nicaragua-focused gold junior Calibre Mining (TSX-V: CXB) ended the week up 175%  to 11 cents a share after announcing drilling results on Thursday at its Montes de Oro target in northeast Nicaragua.

The company listed the following highlights:

• Results from extensions of Trench MTR13-009 have expanded the high grade mineralized intercept to 52.3 m grading 7.1 g/t Au.

• Additional high grade trench results returned from recent work include; 23.0 m grading 5.25 g/t Au (MTR13-017) including 9.0 m grading 10.15 g/t Au, 16.2 m grading 4.68 g/t Au (MTR13-019) including 6.0 m grading 10.14 g/t Au.

• At Montes de Oro, trenching has partially tested a strong coincident gold-silver-copper-lead-zinc soil anomaly extending over a 400 metre by 650 metre area which remains open to the northeast.