Company seeks smaller deals in Latin America after biggest in its history.
Osisko Mining Corp. Mining News
The mill at Osisko Mining's Canadian Malarctic mine is back in operation after a fire shut it down last week.
Canadian gold producer Osisko Mining Corporation joins Global Geoscience to explore gold projects in Nevada, including Nubian's Excelsior Springs Gold project
Nubian Resources Ltd. is pleased to announce that Global Geoscience Ltd (Global) and Osisko Mining Corporation (Osisko) have entered into a binding letter agreement covering Global's five gold projects in Nevada.
Osisko Mining Corporation CA:OSK +2.75% , has declared commercial production at their flagship Canadian Malartic Mine in Malartic, Quebec. Sean Roosen, President and Chief Executive Officer, commented on reaching this major milestone: "It is our great pleasure to report that our gold milling plant has processed an average of 33,300 tonnes per day during the 30-day period ending June 17, 2011. Our operating team has been successful in ramping up production rapidly and we are seeing steady progress on a daily basis in all facets of our operations. The rapid development of the Canadian Malartic Project from exploration to commercial production is a tribute to the hard work, dedication and expertise of our employees and contractors. With great pride we present Canada's newest and largest commercial gold mine."
Osisko Mining will not participate in the Duparquet Mining Camp Project owned by Clifton Star Resources, the Montreal Gazette reported on Friday: Osisko is evaluating areas for another large open-pit mining operation near Canadian Malartic, while putting most of its exploration efforts into the Hammond Reef gold property in Northern Ontario, an open-pit mining project as large as Canadian Malartic.
Osisko Mining official inaugurated the Canadian Malartic gold mine, a large-scale open pit mine located in Malartic, Abitibi. Canadian Malartic is Osisko's first mine to go into production. Osisko estimates it will extract more than 9 million ounces of gold at Canadian Malartic from now until 2027. The mine currently employs 465 people.
Osisko Mining reported on Friday a loss of Can$5.3 million in the first quarter. The company said that the higher loss incurred is due to high administrative costs reflecting the growth in the company's activities, high non-cash charges from the issuance of stock options in the third quarter of 2010 and lower foreign exchange gain. In the same period in 2010 the company reported a loss of $600,000. Sean Roosen, president and CEO of Osisko, said the company achived some significant achievements.
High flying junior Osisko cut its quarterly losses and affirmed its flagship Marlartic gold mine is on track for first production in May
Goldcorp announced on Tuesday that it sold its 10.1% equity interest in Osisko Mining Corporation. Expected cash proceeds from the sale will be Can$530 million. According to Goldcorp's news release, the shares were sold on […]