Taylor refreshes buy of Osisko Gold Royalties
Taylor refreshes buy of Osisko Gold Royalties
Osisko Gold Royalties Ltd (C:OR)
Shares Issued 52,891,439
Last Close 1/5/2015 $16.93
Monday January 05 2015 - In the News
Jay Taylor, in the Dec. 18, 2014, edition of Gold, Energy & Tech Stocks, refreshes his buy of Osisko Gold Royalties Ltd., recently $14.40. Mr. Taylor said buy on July 17, 2014, at $14.80. Assuming a $1,000 investment for the buy, the position is now worth $964. Osisko and Virginia Mines Inc. have entered a definitive deal to merge and form a new royalty company. Under the deal, each Virginia share will be exchanged for 0.92 of an Osisko share. The resulting company will retain the name of Osisko Gold Royalties, and have an estimated $1.3-billion market cap, $270-million in cash and no long-term debt. Mr. Taylor says the two "cornerstone" properties Osisko will hold net smelter royalties on are the 11.9-million-ounce Malartic mine in Quebec (operated by Agnico Eagle and Yamana Gold) and the 8.1-million-ounce Eleonore mine, also in Quebec (operated by Goldcorp). In addition to those, Osisko will hold NSRs on other development-stage projects, equity interests in three gold explorers and 100-per-cent-owned properties. The upside potential here is very significant, adds the editor. Assuming the merger takes place, Osisko will become a highly desirable gold play for more conservative investors, he concludes.
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