Company Overview
Osisko Mining Corporation is a mine developer based in Montréal, Québec, Canada, with a published NI 43-101 compliant positive feasibility study for an open pit operation that will produce 591,000 ounces of gold per year over a ten-year mine life. The study revealed operating costs of US$319 per ounce, ranking it in the lowest cost quartile among global gold producers.
The 100%-owned Canadian Malartic flagship property is adjacent to Highway 117 in the town of Malartic at the heart of the historic Abitibi mining district in Québec, an area already equipped with extensive existing infrastructure. The Canadian Malartic deposit currently represents one the biggest gold reserves in Canada for a single deposit, and is still growing through ongoing drilling on new mineralized zones, like the Barnat deposit. An initial resource calculation was published on January 26, 2009, for this separate gold mineralization zone located northeast of the main deposit and for which the grades have consistently averaged nearly double those of the main Canadian Malartic deposit.
Current reserves for the Canadian Malartic property are 6.28 million ounces1, plus an indicated resource of 1.4 million ounces2 and an inferred resource (including the Barnat deposit) of 2.75 million ounces3. The maximum open-pitable depth is 375 meters and the potential at depth will be investigated during Phase Four of the exploration program. An extensive 200,000-metre definition and exploration drilling program is underway in 2009 on five mineralized zones and high potential exploration targets on the property. As of the end of February 2009, eight drills were operating on the Malartic property.
On February 25, 2009, Osisko closed a C$403 million bought-deal financing. On a fully diluted basis Osisko would have over 700 millions CDN in cash, making it one of the best-financed developers in the gold sector.
On March 23, 2009, the company was included on the S&P/TSX Composite Index (including the S&P/TSX Global Gold Index and the S&P/TSX Global Mining Index), the leading indicator of market performance based on Canada's major corporations.
1 NI 43-101 Proven and Probable Reserves:
5.16 Mt @ 1.14 g/t Au and 178.2 Mt @ 1.06 g/t Au
2 NI 43-101 Indicated Resource: 54 Mt @ 0.81 g/t Au
3 NI 43-101 Inferred Resource: 73.7 Mt @ 1.05 g/t Au
| Shares Structure as of December 31, 2009 | |
|---|---|
| Outstanding shares: | 336.3 M |
| Options: | 9.6 M |
| Warrants: | 8.1 M |
| Fully diluted: | 354.0 M |
| Market Cap: | $ 2.8 B |
| 12-Month Trading Range: | $ 2.66 - $ 9.24 |
Stock Symbol:
TSX: OSK
Deutsche Boerse: EWX
Related links »
AEMQ 2008 e3 AwardAEMQ 2008 e3 Award »
In November 2008, the Association de l'Exploration Minière du Québec (AEMQ) presented Osisko with the e3 Award for environmental excellence in exploration, recognizing the Corporation’s high level of environmental and social responsibility.
Bill Dennis Prospector of the Year AwardPDAC 2007
Bill Dennis Prospector of the Year »
Prospectors and Developers Association of Canada has selected Osisko to receive the 2007 Bill Dennis Prospector of the Year Award.
Prospector of the Year 2006AEMQ 2006
Prospector of the Year »
In 2006, Osisko management received the prestigious « Prospector of the Year », awarded by the Association de l'Exploration Minière du Québec (AEMQ).
CareersCareers »
Career opportunities at Canadian Malartic and Osisko Corporate