https://www.miningweekly.com

Kirkland invests in Urban Barry explorer Osisko Mining

19th September 2018

By: Creamer Media Reporter

     

Font size: - +

Midtier gold producer Kirkland Lake has increased its shareholding in TSX-listed Osisko Mining, through which it has exposure to the Urban Barry area of north-western Quebec.

The company acquired 14 705 882 common shares of Osisko by way of a private placement at C$1.70 a share, for a total cash payment of about C$$25-million. This increased its interest in the explorer from about 8.58% to about 13.61%.

Kirkland president and CEO Tony Makuch said on Tuesday that the Urban Barry area had the potential to become a new high-prospective mining camp in the prolific Abitibi greenstone belt.

“The investment is complementary to our existing interests in Metanor Resources and Bonterra Resources, both of which have high-potential exploration holdings in the same area,” he stated.

In addition, through the investment in Osisko, Kirkland gained exposure to attractive, early-stage exploration properties in close proximity to its Holt and Taylor mines.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION