Osisko plays consolidator to unloved juniors Didn't Stephen sudgest there were opportunities to consolidate gold deposits around Val d Or !
Post says Osisko plays consolidator to unloved juniors 2015-06-10 09:27 ET - In the News
See In the News (C-OR) Osisko Gold Royalties Ltd
The Financial Post reports in its Wednesday edition Osisko Gold Royalties is bringing some much-needed consolidation to the junior mining sector. The Post's Peter Koven writes Osisko has arranged a complicated merger of five different companies, bringing the unloved miners together into one entity that is well financed with $65-million of cash. Together, they boast promising gold projects in Ontario and Quebec. The focal point of the transaction is a junior called Oban Mining, which was founded by Osisko managers. Oban will make friendly, all-stock offers to four tiny companies: Temex Resources, Ryan Gold, Eagle Hill Exploration and Corona Gold. Osisko will invest up to $20-million in the company, and provide some management services. The new Oban will be worth an estimated $122-million and will own four projects holding more than six million ounces of gold resources. Osisko chief executive officer Sean Roosen and Ned Goodman of Dundee fame will be the co-chairmen, and Osisko co-founder John Burzynski will be chief executive officer. Osisko and Dundee Corp. have some common investments and wanted to combine a portion of their holdings. In addition, Oban will acquire 19.9 per cent of BonTerra Resources Inc.
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