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Osisko produces one-millionth ounce

21st November 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – Montreal-based Osisko Mining on Thursday said it had produced the one-millionth ounce of gold from its flagship Canadian Malartic mine, Quebec’s largest gold mine.

The company expressed its gratitude and congratulations to the operations management and the more than 675 employees, contractors and suppliers at Canadian Malartic for the work they have done to bring the world-class deposit to this milestone, and for their continued commitment to make Canadian Malartic Quebec's largest gold producer.

The company also expressed its gratitude to the citizens of Malartic, the Malartic town council and the Quebec government for its continued support of the project.

Osisko earlier this month said its profit fell to $9.76-million, or $0.02 a share, for the third quarter ended September 30, from $28.3-million, or $0.07 a share, in the corresponding period of 2012, despite record quarterly output, as lower realised prices eroded the company’s per-ounce margin.

The miner’s TSX-listed stock had shed almost 50% off its value since the start of the year and on Thursday traded 1.91% lower at C$4.10 apiece.

Edited by Creamer Media Reporter

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