Three insiders, eight lobbying files, and a critical-minerals policy push at Encore Energy
A weekly deep-dive on the single most interesting signal on Form55 — why it scored the way it did, walked through the actual filings.
The most interesting thing about Encore Energy's 90/100 Confluence Score isn't the dollar value of insider buying — at $251K across 16 open-market trades, that's modest. It's who is buying and what's happening in Ottawa at the same time. This is exactly the kind of two-layer overlap an insider-only tracker would miss.
The insider layer: concentrated, not scattered
Sixteen open-market buys came from just three unique buyers over the 90-day window. Under Form55's model, fewer distinct buyers doing repeated buying reads as higher conviction than a wide, thin spread — it's a small group leaning in, not a crowd nibbling.
- Mark Pelizza — 7 buys, $137K (the largest single contributor by value)
- Richard Little — 8 buys, $64K (the most active by trade count)
- Wayne William Heili — 1 buy, $50K (a single sizeable ticket)
Two of the three are repeat buyers across the quarter — Little accumulating in eight tranches, Pelizza in seven. Heili's contribution is a single, larger commitment. That mix of steady accumulation and a one-shot buy is what pushes the insider layer into high-conviction territory in our scoring. As always: insider buying is one input, not a guarantee of anything. Insiders can be wrong, and open-market buys tell you about conviction, not outcomes.
The lobbying layer: this is what earns the 90
Encore matched 8 active federal lobbying registrations, all filed by Vantage Canada LP. The subject matter is directly on-thesis for an energy and mining name: project development for new mines and mine life extensions, and critical minerals — related policy development and financial support for extraction, processing and recycling.
The institutions being lobbied are notable for how senior they are:
Prime Minister's Office (PMO), Privy Council Office (PCO), Natural Resources Canada (NRCan), Global Affairs Canada (GAC), Crown-Indigenous Relations and Northern Affairs Canada (CIRNAC), Environment and Climate Change Canada (ECCC), the Canadian International Trade Tribunal (CITT), plus the House of Commons and Senate.
That's a broad, high-level footprint — cabinet-adjacent offices, the natural-resources and critical-minerals departments, and a trade tribunal. The registrations also repeatedly cite programs and financial support for industries negatively impacted by trade policies, which is the confluence detail: insiders are buying while policy and financial-support activity is being pushed across the departments that matter for mine development.
The contract layer: empty — and that matters
To be clear about the gap: Encore matched zero government contract wins and zero private-placement deals in the window. So this is a two-layer signal (insiders + lobbying), not a full three-layer one. The lobbying is about seeking policy support and project advancement — there is no procurement award in the data yet to confirm it converted into revenue.
Bottom line
Three insiders buying into a name whose lobbyist is simultaneously working the PMO, NRCan and the trade tribunal on mine development and critical-minerals support — that overlap is why the score is 90, not the dollar figure. What's absent is equally informative: no contracts have landed. This is a factual read on aligned activity, not a forecast, and not advice.
Form55 signal analysis is factual, not advice. The Confluence Score reflects public insider, lobbying, and contract data over a 90-day window — it is not a price target or a buy/sell recommendation. Insider buying is one input among several. Do your own research.