Osisko Mining Corporation
 |
|
| Public | |
| Traded as | : OR |
| Industry | Mining |
| Founded | 1982 |
| Headquarters | Toronto, Ontario, Canada |
|
Key people
|
Victor Bradley, Chairman Sean Roosen, President & Executive Robert Wares, Executive VP |
| Products | Gold, Silver |
| Revenue |
 $665.375 mil (152.6%)(2012)
|
|
$78.424 mil (336%)(2012)
|
|
| Total assets |
$2,668.45 mil (99.3%)(2012)
|
| Total equity |
$2,149.65 mil (93.3%)(2012)
|
|
Number of employees
|
450 |
| Website | www |
Osisko is a Canadian precious-metals mining company headquartered in Montreal, Quebec. It operates in Canada with a focus on gold mines in the Abitibi gold belt of Quebec. The company was known as Osisko Exploration LTD. before changing its name in May 2008. It owns at least 17.41 million troy ounces (1,194,000 lb; 542,000 kg) of gold reserves (including 10.71 in malartic and 6.7 at Hammond Reef, malartic reserves up 20% in March 2011 due to higher gold prices) and over 230 square kilometres (89 sq mi) of land in the Malartic-Cadillac area. Based on market capitalization, it is one of Canada's largest Canadian gold mining companies. The Canadian Malartic mine will be the biggest gold mine ever in Quebec and one of the biggest gold mines in Canada. Commercial production at Canadian Malartic (its flagship gold mine) began May 19, 2011.
The company is named after Quebec's Osisko Lake because of its historical significance. The lake, located within Quebec's portion of the Abitibi gold belt in the region of Rouyn-Noranda is where, in 1920, Noranda founder Edmond Henry Horne made his first major mineral discovery, a deposit that became known as the Horne Mine.
On July 3, 2009 Osisko purchased 49.1% of Bowmore Exploration Ltd. a month before Goldcorp acquired a 3.2% interest in Osisko (at the time Goldcorp owned 12.9% of company shares); On February 9, 2011 Goldcorp sold its 10.1% equity interest in Osisko for $530 million. Later that year in December, in a joint venture with Clifton Star Resources Osisko acquired Quebec's Duparquet mining project, an area that produced 1 million troy ounces (69,000 lb; 31,000 kg) of gold between 1931 and 1957, when it was operated by Beattie Gold Mine. So far the Company has infused $66.83 million into the venture. On June 17, 2011, it withdrew from Duparquet.
In March 2010 Osisko filed a takeover offer for Brett Resources that proved to be success on May 19, 2010 (initially 77% of the company was purchased, on August 13 it purchased the other 23%). The deal, valued at more than $372 million, enabled Osisko to acquire the Hammond Reef Gold Project in Atikokan near Thunder Bay, Ontario and its 6.70 million troy ounces (208,000 kg) of gold. If all regulatory approvals are met, the mine was expected to open in 2015 when it would be capable of producing 463,000 troy ounces (14,400 kg) of gold annually.
...
Wikipedia