The slow climb in our precious metals and minerals insider sentiment indicator last week suggests it may be a long road ahead for bullion bulls. At this point, all we can say is that insiders are acting in typical contrarian fashion, selectively buying when the crowd is selling. An example is Quebec producer Osisko Mining Corp. Over the past 30 days, 3 insiders who are either officers or directors have spent just over $900,000 buying 120,000 shares in the public market. CEO Sean Roosen was a buyer, picking up 20,000 shares.
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.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.