Osisko at the Mtl ConferenceHi Guys (boro) hi hi
As promised I have been at the Montreal Investment Conference at the Palais des congres in Mtl. and had an interesting chat with the kind lady geologist at their booth, I unfortunately forgot to get her name though.
Priority - priority - priority - As she pointed out Osisko's priority lies with Open pittable High grade (ideally) or low grade with BULK tonnage projects with shallow Open Pittable as the key priority to ensure that they can offer low cost bulk tonnage and able to meet their goal of becoming a producer in May 2011 with the Hammond Reef project (Brett resources) in Ontario. She definitely was referencing Brett with Hammond Reef as THE priority along with the Malartic project.
She was also putting Clifton Star and Orex as lower in the priorities list as she claimed it was not confirmed they had proven their potential at meeting the requirements bulk tonnage resources and mentioned that they were still exploring these as possible avenues that were not their current priority...
She seemed surprised when I mentionned the press release that was just released on november 1st by Mark Billings, as an update to the Goldborro project, were it was confirmed that the intention of Osisko towards Goldborro was positively to continue with the Goldborro project. OSK geologist did`nt seem to be aware of this PR and OSK intention towards Orex...
I did not question directly about the lab results that were being held at Osisko by the geologists but sort of concluded that there energy were being invested somewhere else at the moment. There is also the possibility that she wasn't the geo in charge of dealing with Orex.
Osisko is currently trading around $14 and I was told they should be trading at around $22+++ when they start assuming a production state in May 2011.
IMHO It is without doubt that Osisko will be pursuing along with Orex in a near future and the more OSK becomes a major player and a producer, the better it will benefit our strategic alliance. It seems that they still have quite a few angles that they need to cover before giving a stronger press to OX, but I am sure that we will soon get there.
Don't forget that even if we do not get much OSK PR we are listed on their web site in the list of projects that they are developing and a couple of past JV didn<t even get that far I was told.
I was also told by the geo that someone came to her and was plain rude about the fact that Orex wasn't getting the coverage it deserved and she stated that he wasn't fair. I now understand her point about the priority that the company has and if you look at OSK web site and the ressources that Brett ress - Hammond Reef has, as well as the Malartic project, you will also understand OSK position.
To date, Osisko has respected their commitment and then some by investing even more $$$ than what they were obligated to invest as part of the JV deal for the 2010 drilling campaign and we should soon be receiving the rest of the information that we are expecting at the right time when we can expect a full support by Osisko.
Several presentations and analysts were very very BULLISH on gold until at least 2013.
I am still hoping for news in the weeks to come and Mark Billing should definitely be keeping Osisko under constant pressure to make sure that we keep on climbing in OSK list of priorities.
GLTA - Alucky_one