Globe says Inwentash enriching his Mega stockholdings

The Globe and Mail reports in its Saturday edition that uranium stocks have been rallying of late. The Globe's Ted Dixon writes in the Who Is Buy and Selling column that insiders were scooping up stocks late last year. T

he Globe says a good example is Mega Uranium. Mega stock edged up four cents Friday to close at $1.30. The stock has a 52-week range of 39 cents to $3.59.

The equity set its 52-week low on Dec. 19. Between Dec. 29 and Dec. 31, Mega chief executive officer Sheldon Inwentash bought 136,000 shares at prices ranging between 47 cents and 76 cents.Over the last 12 months, the CEO has bought 336,000 shares at an average price of $1.80.

The Globe's Scott Adams wrongly predicted in the Number Cruncher column on Dec. 20, 2007, the stock would bounce in January, 2008, following tax-loss selling in December. The stock was then trading at $3.31. The Who Is Buying and Selling column reported on Dec. 15, 2007, that Mr. Inwentash had bought more than 340,000 shares. Mega was then trading at $3.08. Sprott analyst Kevin Bambrough saw a bull in all things uranium in The Globe on Jan. 10, 2006. Mr. Bambrough predicted a "nuclear renaissance" in electric power. At the time Mega stock was trading at $4.75.