OTCPK:MEAOD - Post by User
Post by
longshot52on Sep 28, 2016 1:17pm
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Post# 25286486
Osisko Mining takeover MTO?
Osisko Mining takeover MTO?Sorry, but it will not happen...
Osisko only possible interest in MTO is the Barry property not a small mine 70 miles away on a secondary gravel road.
The Barry property contains 200,000 oz/au of proven gold, and does have the “potential” for more but so do all properties.
Osisko bought the Souart property contains 100,000 oz/au and OSK bought it for $700,000 in cash and stock.
Osisko owns 19.9% of Bonterra, their Spartucus Deposit holds 273,000 oz/au 9.37 g/t
Osisko bought the main part of the Malartic property for $80,000 in a bankruptcy court in 2004, asking price was $2M. They built a mine for $1 Billion and sold it for a $3 Billion dollar profit for the shareholders.
https://www.tgdg.net/Resources/Documents/NEWGEN%20GOLD%20%20WaresBurzynski.pdf.
They have had talks with MTO but whatever MTO was asking was not the price OSK is willing to pay, OSK will just wait it out and buy the property when MTO is forced to sell it.