John McCluskey of Alamos Gold (AGI.to), the Angelo Mozilo of Canadian Mining

And you'd be smiling, too. John McCluskey (for it is he)

Hey, remember that Countrywide dude Angelo Godzilla or whatever his name was? Remember how he sold great big chunks of his own stock in those heady days before the financial crisis? Remember how his sycophants would justify this very suspicious insider selling by telling us how Godzilla was this successful dude and deserved the fruits of his labours and all that jazz? Then remember what happened to his company? And then all that nuisance about trials for fraud, and jailtime, and angry shareholders that had lost the lot? Yeah I remember all that, too, which is why John McCluskey over at Alamos Gold (AGI.to) has got my attention right now.



Y'see, McCluskey isn't just selling a few shares to raise a bit of moolah in order to supplement his meagre $500,000 annual pay package, he's on his own little non-stop selling spree and has been at it all year. Here's a paste-out of all his insider transactions so far in 2009.

1363933 2008-12-29 2009-01-26 Direct Ownership : 10 -1,000 8.8440 542,400 disposition in the public market

1363936 2008-12-29 2009-01-26 Direct Ownership : 10 -9,000 8.8630 533,400 disposition in the public market

1363937 2008-12-31 2009-01-26 Direct Ownership : 10 -10,000 8.6390 523,400 disposition in the public market

1363938 2009-01-06 2009-01-26 Direct Ownership : 10 -5,000 7.4380 518,400 disposition in the public market

1363939 2009-01-08 2009-01-26 Direct Ownership : 10 -1,400 7.8500 517,000 disposition in the public market

1363940 2009-01-09 2009-01-26 Direct Ownership : 10 -8,600 7.9230 508,400 disposition in the public market

1363941 2009-01-15 2009-01-26 Direct Ownership : 10 -100 8.1020 508,300 disposition in the public market

1363943 2009-01-15 2009-01-26 Direct Ownership : 10 -4,900 8.1120 503,400 disposition in the public market

1363944 2009-01-16 2009-01-26 Direct Ownership : 10 -5,000 8.3000 498,400 disposition in the public market

1363947 2009-01-19 2009-01-26 Direct Ownership : 10 -2,500 8.4500 495,900 disposition in the public market

1363950 2009-01-20 2009-01-26 Direct Ownership : 10 -2,500 8.6000 493,400 disposition in the public market

1363967 2009-01-22 2009-01-26 Direct Ownership : 10 -100 8.5400 493,300 disposition in the publicmarket

1363969 2009-01-23 2009-01-26 Direct Ownership : 10 -4,900 8.5100 488,400 disposition in the public market

1439330 2009-04-13 2009-06-13 Direct Ownership : 10 -100 8.4900 488,300 disposition in the public market

1439331 2009-04-27 2009-06-13 Direct Ownership : 10 -1,800 8.4900 486,500 disposition in the public market

1439332 2009-05-28 2009-06-13 Direct Ownership : 10 -2,000 9.7510 484,500 disposition in the public market

1439333 2009-05-29 2009-06-13 Direct Ownership : 10 -3,000 9.8600 481,500 disposition in the public market

1444655 2009-06-22 2009-06-25 Direct Ownership : 51 - Exercise of options +200,000 2.2500 681,500

1444656 2009-06-24 2009-06-25 Direct Ownership : 10 -100 9.7820 681,400 disposition in the public market

1444657 2009-06-24 2009-06-25 Direct Ownership : 10 -100 9.7800 681,300 disposition in the public market

1444658 2009-06-24 2009-06-25 Direct Ownership : 10 -14,800 9.7720 666,500 disposition in the public market

1449427 2009-06-25 2009-07-06 Direct Ownership : 10 -35,000 9.7160 631,500 disposition in the public market

1449429 2009-07-02 2009-07-06 Direct Ownership : 10 -26,000 9.7750 605,500 disposition in the public market

1449431 2009-07-03 2009-07-06 Direct Ownership : 10 -24,000 9.8000 581,500 disposition in the public market

1458403 2009-07-17 2009-07-24 Direct Ownership : 10 -300 10.0230 581,200 disposition in the public market

1458404 2009-07-17 2009-07-24 Direct Ownership : 10 -74,700 9.8700 506,500 disposition in the public market

1458405 2009-07-20 2009-07-24 Direct Ownership : 10 -25,000 10.3010 481,500 disposition in the public market

1458406 2009-07-21 2009-07-24 Direct Ownership : 10 -3,300 10.2300 478,200 disposition in the public market

I haven't missed out any transactions here, by the way. Apart from the one time when McCluskey topped up his dwindling holdings by exercising a bunch of $2.25 options (to sell at 9 and 10...nice work if you can get it, huh?) all he's done is sell, sell, sell. Makes you wonder if he's had time to do any actual work, doesn't it?



So far this year (according to my Casio, at least) McCluskey has put a gross value of two million, five hundred and thirty-one thousand, three hundred and forty dollars and fifty cents ($2,531,340.50) into his back pocket by selling shares to a largely unsuspecting market. Now I dunno 'bout you but putting it as mildly as possible that does seem a little excessive for the CEO of a junior gold play, especially for a guy who pulled down $500,000 as his salary last year and another 200k in bonuses. So if you happen to bump into John McCluskey, ask him why he's so keen on selling out right now. And while you're at it, ask him what he's spending the large cash on because he clearly sees there are better places to invest his money than his own company.