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MBAC Fertilizer Corp. is working on phosphate and potash assets in Brazil. On July 27, it released the latest resource estimates for its Itafos phosphate project. As the stock rose following the news, board chair Peter Marrone bought 93,500 shares in the public market at $1.91 on July 30. Mr. Marrone is also chair and CEO of Yamana Gold Inc.

Generally, if an insider buys following news, it may suggest the market has not fully discounted the information. Such buying may be particularly noteworthy if the share price is rising. In the weeks following the purchase, investors may want to see whether any additional insider buying takes place to further strengthen the signal.

Certainly over the past few months insiders have been fairly active at MBAC. In June, CEO Antenor Silva bought 10,000 shares in the public market while another officer bought 37,500 shares between May 5 and June 15.

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.

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