RE:RE:RE:RE:Northern Star - Negotiations concluded with Osisko Mining Just to put things into perspective GBR was bought for $1.8B without an MRE... that puts OSK at $5.20/sh. The $4/sh JV was probably a clause that Northern Star put in condition so OSK could have the $154M... but OSK probably knew form the beggining that they would never give up half of this project at that price. This is not kindergarden, this is sharks eat sharks. Northern Star is probably, at this point in time, buying OSK shares on the market!
At this point OSK has options, following the release of the FS they will be able to talk to banks + the money they allready have - the powerline agreement that we are still waiting the NR - all the work that has already been done underground. Also they have secured the $154M from Northern Star. And yes they can still proceed by dilution but the price, in my sense, would be higher then $4/sh.
All the heavy drilling is done, OSK is cruising towards the release of the FS, permits, financing and construction. The burn rate from here to construction is less then when all the drilling was done.