Osisko retains an exposure to the Windfall joint venture project through its NSR royalty.
Dual-listed Osisko Gold Royalties has sold its entire equity position in Osisko Mining for C$132-million, the company announced on Wednesday.
The sale not only reaffirmed Osisko’s commitment to aligning itself as a pure-play precious metals royalty and streaming company, but also bolstered its financial position, said interim CEO Paul Martin.
“We remain extremely enthusiastic about our ongoing partnership with both Osisko Mining and Gold Fields at Windfall; a fully funded, high-grade gold project, situated in the province of Quebec,” he added.
Osisko maintains its exposure to Windfall through its 2% to 3% net smelter return royalty on the project and the surrounding property.
Osisko sold 50 023 569 common shares of Osisko Mining pursuant to a bought block trade with National Bank Financial and BMO Capital Markets.