Lembit Janes

Lembit Janes files with two issuers listed on the Toronto Stock Exchange: Spanish Mountain Gold Ltd. (116 filings, as a director) and SIR Royalty Income Fund (85, as a holder of more than 10% of the securities). The 201 filings published since February 16, 2021 include 166 open-market purchases, worth EUR 3,487,724 with a median of EUR 10,782, and 20 sales worth EUR 1,046,202 (median EUR 45,030). Purchases make up 89% of the open-market trades.

The largest purchase is dated September 25, 2025 at Spanish Mountain Gold (EUR 153,752); next come EUR 114,307 at SIR Royalty on March 29, 2021 and EUR 102,811 at Spanish Mountain on October 2, 2026. The three largest sales are grouped in April 2025 at SIR Royalty: EUR 135,293 on April 14, EUR 127,917 on April 16 and EUR 82,484 on April 25.

The split by year is pronounced: 59 filings in 2021, 68 in 2023, 33 in 2024, 26 in 2025 and 15 in 2026. The last twelve months hold 21 filings. Janes has 39 and 16 own market trades within 30 days of colleagues at SIR Royalty Income Fund, in that order, all on the same side. Colleagues in order: Kim van Nieuwkoop and William Frederick Irvine.

For 159 purchases a 90-day result is stored: a median of 17.6%, with 64% of results positive. These are stored past results, not a forecast.