In News-NR
Post says Alexandria's boss hopes to repeat Osisko win
2019-07-29 09:42 ET - In the News
The Financial Post reports in its Saturday edition that this spring, John Burzynski, chief executive officer of Osisko Mining, caught whiff of an opportunity to acquire land near the Cadillac-larder break -- a name renowned in the gold industry. The Globe's Gabriel Friedman writes that running from western Quebec to Larder Lake, Ont., it stands out among the world's richest geological gold belts; and even today, more than a century after being discovered, it is dotted with mines that pump out hundreds of thousands of ounces of bullion every year. Mr. Burzynski and his partners have been to the Cadillac-Larder break before: They discovered the deposit that became the Canadian Malartic mine, the country's largest gold mine, which last year produced 697,200 ounces of gold. Now, as gold prices surge through $1,400 per ounce for the first time in six years, Mr. Burzynski is returning to the Cadillac-Larder break with a $40-million acquisition of Alexandria Minerals, which controls a choice land package near Val d'or, Que., that is already known to contain gold. The transaction is drawing interest because many investors are wondering whether Mr. Burzynski and his partners can strike gold twice, and hit another bonanza.
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