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Canadian insiders are betting on what Canada does best: resource development. A 2022 Export Development Canada study determined that energy and mining products were two of Canada’s most advantageous exports. As the world becomes more competitive in a turbulent geopolitical environment, it is reasonable to expect that these two areas will continue to attract a high degree of insider commitment in terms of purchases and holdings.
We see evidence of this trend in the upcoming Feb. 20 quarterly rebalancing of the 50-stock INK Canadian Insider Index. The Basic Materials sector will have 19 representatives, while the Energy sector will have nine. Between the two, the Index will have a 56 per cent allocation to resource areas. Today, we look at four new mining names joining the index.
Venerable mining investor Richard Warke is the founder and chairman of the Augusta Group of companies, which includes both Titan Mining Corporation TI-T and Highlander Silver Corp. HSLV-T Mr. Warke is also chairman at both Titan and Highlander. Both stocks will be joining the Index on Friday.
On Dec. 19, Highlander Silver announced a proposed all-stock acquisition of Bear Creek Mining BCM-X, where Bear Creek shareholders would receive 0.1175 Highlander shares for each Bear Creek share held. The deal would add Bear Creek’s Corani project (proven and probable reserves of 229 million ounces of silver) in Peru to Highlander’s portfolio. Highlander is focused on advancing its 100-per-cent-owned 230-square-kilometre San Luis gold-silver project in central Peru. Recent drilling intersected 20.82 grams per tonne Au and 31.53 grams per tonne Ag over 23.9m from 21.0m.
From Sept. 11 to Dec. 31 last year, Mr. Warke acquired a total of 18,779,167 Highlander shares through a combination of warrants, options, financings and public market purchases. Three other insiders also acquired a total of 151,400 shares during that period. In addition, on Jan. 30 Highlander announced it had closed a private placement with Eric Sprott where the mining legend invested $54.8-million, picking up just over 8 million shares at $6.80 per share.
Meanwhile, Titan Mining has found itself at the right place at the right time as the United States seeks to strengthen domestic critical mineral supply. Titan is focused on zinc production at its 100-per-cent-owned Empire State Mine in New York state and the 100-per-cent-owned Kilbourne Project, a near-surface graphite discovery less than 1 mile from the ESM mill. In 2025, ESM produced a record 64.26 million lbs of zinc, up 8 per cent from the previous year. Significant concentrations of germanium have also been found at ESM in the existing zinc-processing circuit, and Titan is assessing the potential for recovery.
From Aug. 19 to Sept. 10, Mr. Warke acquired a total of 121,200 Titan shares (on a postconsolidation basis) through a combination of options and public market purchases. Eight other insiders also acquired a total of 485,874 shares (postconsolidation) through option exercises and the public market during the period. As with Highlander, there has been no reported insider selling at Titan over the past six months.
Index newcomer Amerigo Resources Ltd. ARG-T also has a well-known mining insider as chairman, Klaus Zeitler. He was the founder and first CEO of Inmet Mining Corporation and a director at Teck Corp. TECK-B-T and Cominco Limited. Amerigo is focused on Chile, where its wholly owned Minera Valle Central operation produces copper concentrate and molybdenum concentrate as a byproduct by processing fresh and historic tailings from Codelco’s El Teniente mine.
2025 production of 62.2 million lbs of copper and 1.5 million lbs of molybdenum exceeded its issued guidance. For 2026, Amerigo issued production guidance for 63.8 million lbs of copper and 1.5 million lbs of molybdenum. Financial results are expected on Feb. 25.
Insiders at Amerigo have been net sellers over the past six months, but Amerigo continues to have a relatively high insider commitment ranking due to an above-median level of insider ownership. Notably, Dr. Zeitler acquired 250,000 common shares through option exercise on Nov. 20 and has not subsequently reported any selling.
Finally, PMET Resources Inc. PMET-T brings more Canadian mining exposure to the Index. PMET is focused a hard-rock lithium exploration company focused on its 100-per-cent-owned Shaakichiuwaanaan lithium pegmatite project in Quebec, where tantalum, cesium and gallium have also been detected.
On Oct. 20, PMET announced results for a lithium-only feasibility study for the project using a hybrid mining model combining open-pit and underground extraction methods. Using a base case long-term spodumene (5.5 per cent lithium oxide) price of $1,636/tonne, the study estimates an after-tax net present value (at 8 per cent discount) of $1.59-billion. Assumptions include a 19-year mine life with average annual production of 693,800 tonnes of 5.5 per cent lithium oxide spodumene concentrate per year at an all-in sustaining cost of $799.8/tonne. A final investment decision is targeted for the second half of 2027.
From Nov. 10 to Dec. 1, three insiders acquired a total of 548,900 common shares through a combination of option exercises and public market purchases. Importantly, there has been no reported insider selling over the past six months.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors.