Misplaced Pages

Osisko Metals

Article snapshot taken from Wikipedia with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.

This is an old revision of this page, as edited by CountHacker (talk | contribs) at 03:47, 11 January 2025. The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Revision as of 03:47, 11 January 2025 by CountHacker (talk | contribs)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff) Canadian mining company

Osisko Metals Incorporated
Company typePublic
Traded asTSX-V: OM
IndustryMining
FoundedMay 10, 2000; 24 years ago (2000-05-10)
HeadquartersMontreal, Quebec, Canada
Key peopleJohn Burzynski (Executive Chairman)
Robert Wares (CEO)
Blair Zaritsky (CFO)
Websiteosiskometals.com

Osisko Metals Incorporated is a Canadian mining corporation. It currently holds two historical past-producing mines — the Pine Point Mine in the Northwest Territories and the Gaspé Copper mine in Quebec — with the intent to turn them into operating mines.

History

Osisko Metals was founded on May 10, 2000. Previously known as Bowmore Exploration Ltd., it renamed itself to its present name in 2017 after a 1-3 reverse stock split.

On December 16, 2017, Osisko Metals announced it would acquire the Pine Point Mine project, via a $34 Million takeover of Pine Point Mining Ltd. The deal was completed on February 23 of the following year. A mineral resources estimate report in 2019, estimated that Osisko Metals could extract 5.3 billion pounds of zinc and 2.1 billion pounds of lead from the Pine Point mine. The then-CEO, Jeff Hussey, estimated that the mine could be built by 2023, provided that there were no major geopolitical scenarios that could disrupt the zinc market. However, work was delayed due to the COVID-19 pandemic. In 2023, Osisko Metals signed a $100 Million agreement with Appian Capital Advisory, a British private equity firm, to form a joint venture for the Pine Point project. Appian received a 60% interest in the joint venture. In February 2024, Osisko Metals would sell another 5% stake in the joint venture to Appian for $8.33 million, increasing Appian's share in the joint venture from 60% to 65%. The joint venture is aiming to have the mine start construction by 2028, with production starting in 2030.

In March 2022, Osisko Metals purchased the rights for exploration and drilling on the site of the past-producing Gaspé Copper mine, owned by Glencore. Osisko was given the option to decide whether it wanted to acquire the property by the end of June 2022 after an evaluation. However, the date on the decision to acquire the mine was pushed back from June 30 to July 8, 2022. On July 8, 2022, Osisko Metals made the decision to acquire the Gaspé Copper mine from Glencore. In February 2024, it formed a committee with figuring out a plan to dewater the open pit of the former mine.

Current properties

References

  1. "Management". Osisko Metals. Retrieved January 10, 2025.
  2. "Osisko Metals Incorporated (000015420)". Sedar+. Retrieved January 10, 2025.
  3. Keevil, Matthew (August 25, 2017). "Osisko Metals explores Bathurst camp for base metals". The Northern Miner. Retrieved January 10, 2025.
  4. "BOWMORE EXPLORATION TO CHANGE NAME TO OSISKO METALS INCORPORATED" (PDF). Osisko Metals Incorporated. Retrieved January 11, 2025.
  5. "Pine Point zinc mine project picked up by junior mining company with major backing". CBC News. Retrieved January 11, 2025.
  6. "OSISKO METALS COMPLETES ACQUISITION OF PINE POINT" (PDF). Osisko Metals Incorporated. Retrieved January 11, 2025.
  7. Desmarais, Anna (January 10, 2020). "Pine Point mine could be operational as early as 2023, says CEO". CBC News. Retrieved January 11, 2025.
  8. Pruys, Sarah (August 12, 2020). "'The future is bright for Pine Point,' COO says of mine project". Cabin Radio. Retrieved January 11, 2025.
  9. Gleeson, Richard (February 28, 2023). "Companies look to government for help turning N.W.T. projects into mines | CBC News". CBC. Retrieved January 11, 2025.
  10. "Osisko Metals, Appian complete JV to advance Pine Point zinc project". MINING.COM. April 6, 2023. Retrieved January 11, 2025.
  11. "Osisko Metals Sells An Additional 5% Interest In Pine Point To Appian". Mining North. NWT & Nunavut Chamber of Mines. February 22, 2024. Retrieved January 11, 2025.
  12. Ulrich, Carla (February 9, 2024). "New mine at N.W.T.'s Pine Point still 6 years away, company says". CBC News. Retrieved January 11, 2025.
  13. Warren, Émilie (March 31, 2022). "Mining industry returns to Murdochville, decades after abandoning the small town". CBC News. Retrieved January 11, 2025.
  14. "L'exploitation du cuivre pourrait reprendre à Murdochville". Radio-Canada (in Canadian French). March 29, 2022. Retrieved January 11, 2025.
  15. "Acquisition de l'ancienne mine de cuivre à Murdochville : une décision vendredi". Radio-Canada (in Canadian French). July 4, 2022. Retrieved January 11, 2025.
  16. "Murdochville : l'ancienne mine de cuivre passe aux mains de Métaux Osisko". Radio-Canada (in Canadian French). July 17, 2023. Retrieved January 11, 2025.
  17. Fish-Robertson, Ashley (April 11, 2024). "Osisko Metals plans to dewater flooded pit in Gaspé Copper mine". CIM Magazine. Retrieved January 11, 2025.
  18. "Overview of Pine Point Mine". Osisko Metals. Retrieved January 10, 2025.
  19. "Gaspé Copper". Osisko Metals. Retrieved January 10, 2025.
Categories: