Osisko Gold Royalties sells Osisko Mining shares

Canadian company Osisko Gold Royalties (TSX:OR) has sold its investment in exploration and development company Osisko Mining (TSX:OR) for $US132 million (approximately $98 million). OSK).

Osisko Gold Royalties

The Montreal-based company, which has royalties on gold, silver and diamond mines, primarily in the form of net smelter proceeds (NSR) and ore streams, said it continues to earn from the Windfall gold project 2% to 3% NSR royalties. Surrounding properties.

Windfall is owned by a joint venture between Osisko Mining

Located in the James Bay region of Quebec, Windfall is owned by a 50:50 joint venture between Osisko Mining and Gold Fields (NYSE, JSE: GFI) formed in May this year.

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Interim CEO Paul Martin said in a statement that the sale not only reaffirms Osisko Royal’s commitment to becoming a pure-play precious metals royalty and streaming company but also strengthens its financial situation.

“We are very excited about our ongoing partnership with Osisko Mining and Windfall Gold Fields; a well-funded, high-grade gold project,” Martin said.

According to the latest feasibility study, Windfall will have an initial mine life of 10 years and average production of 294,000 ounces. Each year, this would make them one of the top ten gold mines in Canada.

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