SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 8 for Barbara Sinclair;
Amendment No. 7 for James Sinclair)
Under the Securities Exchange Act of 1934
SUTTON RESOURCES, LTD.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
869474106
(CUSIP Number)
James Sinclair
Route 41, Amenia Road
Sharon, CT 06069
(860) 364-0164
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 24, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |__|.
Check the following box if a fee is being paid with the statement |__|.
Page 1 of 9 pages
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CUSIP NO. 869474106 Page 2 of 9 pages
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================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Barbara Sinclair
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY ------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 2,553,584
REPORTING ------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,871,584 (1)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
2,871,584(1)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.0%
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14 TYPE OF REPORTING PERSON
IN
================================================================================
(1) Includes 318,000 shares underlying warrants exercisable within 60
days.
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CUSIP NO. 869474106 Page 3 of 9 pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
James Sinclair
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES 100
BENEFICIALLY ------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 2,553,584
REPORTING ------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
170,100
------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,871,584
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
3,041,684(1)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.6%
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14 TYPE OF REPORTING PERSON
IN
================================================================================
(1) Includes 2,871,584 shares beneficially owned by Barbara Sinclair in
which Mr. Sinclair disclaims economic interest and 170,000 shares
underlying warrants held by Mr. Sinclair which are exercisable within
60 days.
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CUSIP NO. 869474106 Page 4 of 9 pages
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AMENDMENT TO
STATEMENT FOR SCHEDULE 13D
--------------------------
This statement amends Item 5 of the Statement to the Schedule 13D filed
with the Commission on January 25, 1996, as subsequently amended, on behalf of
Barbara Sinclair and James Sinclair (the "Reporting Persons") with respect to
the common stock of Sutton Resources, Ltd. (the "Issuer").
Item 5. Interest in Securities of the Issuer.
(a) The aggregate percentage of shares of Common Stock reported owned by
each person named herein is based upon 28,665,630 shares outstanding, which
equals the number of shares reported in the Issuer's most recently available
Form 6-K plus 488,000 shares underlying warrants beneficially onwed by the
Reporting Person.
As of the close of business on October 24, 1997:
(i) Mrs. Sinclair beneficially owns 2,871,584 Shares (10.0% of the
Issuer's Outstanding Shares), 318,000 of which underlie warrants
exercisable within 60 days.
(ii) Mr. Sinclair beneficially owns 3,041,684 Shares (10.6%), which
include the Shares reported as beneficially owned by Mrs. Sinclair, and
170,000 shares which underlie warrants exercisable within 60 days. Mr.
Sinclair expressly disclaims economic interest in any of the Shares
beneficially owned by Mrs. Sinclair.
(iii) In the aggregate, the Reporting Persons beneficially own
3,041,684 Shares (10.6%).
(b) Mr. and Mrs. Sinclair share voting and dispositive power with respect
to the Shares reported in (a)(i), and Mr. Sinclair has voting and dispositive
power over the Shares reported in (a)(ii).
(c)(i) Since the reporting date of their last Schedule 13D Amendment, the
Reporting Persons have engaged in the following transactions in the Issuer's
Common Stock and Warrants all of which, except as otherwise noted, were done in
open market transactions.
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CUSIP NO. 869474106 Page 5 of 9 pages
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Transactions in Warrants*
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No. of Price per Purchase (P)
Date Warrants Warrant or Sale (S)
- ---- -------- ------- -----------
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9/29/97 60,000 6.88 (P)
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10/1/97 5,000 7.24 (P)
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10/2/97 5,000 7.30 (P)
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10/15/97 700 6.52 (P)
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* Each Warrant represents the right to acquire two shares.
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CUSIP NO. 869474106 Page 6 of 9 pages
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Transactions in Common Stock
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No. of Price per Purchase (P)
Date Shares Share or Sale (S)
- ---- ------ ----- -----------
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9/25/97 2,000 8.63 (S)
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9/25/97 500 8.60 (S)
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9/25/97 2,000 8.63 (S)
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9/26/97 2,000 8.66 (S)
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9/26/97 500 8.66 (S)
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9/26/97 2,000 8.66 (S)
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9/29/97 2,000 8.80 (S)
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9/29/97 28,000 8.92 (S)
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9/29/97 25,000 8.86 (S)
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9/29/97 2,000 8.60 (S)
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9/29/97 500 8.80 (S)
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9/30/97 2,000 9.25 (S)
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9/30/97 2,000 9.02 (S)
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9/30/97 2,000 9.30 (S)
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9/30/97 1,000 9.3125 (S)
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9/30/97 2,000 9.30 (S)
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9/30/97 2,000 9.02 (S)
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9/30/97 1,000 9.30 (S)
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9/30/97 1,000 9.30 (S)
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9/30/97 500 9.02 (S)
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10/1/97 3,000 9.875 (S)
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10/1/97 6,000 10.00 (S)
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CUSIP NO. 869474106 Page 7 of 9 pages
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Transactions in Common Stock
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No. of Price per Purchase (P)
Date Shares Share or Sale (S)
- ---- ------ ----- -----------
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10/1/97 24,000 9.875 (S)
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10/1/97 74,700 9.61 (S)
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10/1/97 2,000 9.75 (S)
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10/1/97 2,000 9.75 (S)
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10/1/97 1,000 10.00 (S)
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10/1/97 2,000 9.75 (S)
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10/2/97 2,200 9.875 (S)
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10/2/97 2,300 10.125 (S)
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10/2/97 4,700 10.125 (S)
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10/6/97 3,000 9.91 (S)
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10/8/97 1,500 9.625 (S)
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10/8/97 1,000 9.625 (S)
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10/8/97 2,000 9.6875 (S)
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10/8/97 4,500 9.90 (S)
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10/9/97 4,500 9.00 (S)
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10/9/97 9,500 9.00 (S)
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10/10/97 2,500 8.90 (S)
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10/10/97 2,000 8.875 (S)
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10/13/97 3,000 8.625 (S)
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10/14/97 2,000 8.65 (S)
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10/15/97 2,200 8.65 (S)
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10/16/97 2,000 8.6875 (S)
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10/16/97 3,000 8.60 (S)
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CUSIP NO. 869474106 Page 8 of 9 pages
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Transactions in Common Stock
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No. of Price per Purchase (P)
Date Shares Share or Sale (S)
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10/17/97 5,000 8.50 (S)
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10/20/97 1,500 8.50 (S)
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10/20/97 21,500 8.41 (S)
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10/21/97 4,600 8.32 (S)
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10/23/97 15,000 9.00 (S)
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10/23/97 10,000 9.00 (S)
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10/24/97 150,000 * *
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10/24/97 3,500 8.375 (S)
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* Represents a charitable donation.
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CUSIP NO. 869474106 Page 9 of 9 pages
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SIGNATURES
After reasonable inquiry and to the best of each Reporting Person's belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete, and correct.
Dated: November 3, 1997
/s/ James Sinclair
------------------------
Barbara Sinclair,
by James Sinclair
/s/ James Sinclair
------------------------
James Sinclair
