Monday, April 14, 2014

Osisko Mining Corporation - OSK.t

Osisko Mining Corporation - OSK.t is producing from the flagship Canadian Malartic gold mine located in the Abitibi mining district.

The Company produced 388,478 ounces in 2012 and 475,277 ounces of gold in 2013. 137,321 ounces at cash costs of $713 per ounce (US$679 per ounce) were reported in Q4.










On April 10, 2014 the company reported News

Osisko Mining Corporation ("Osisko" or the "Corporation") (TSX:OSK; Deutsche Boerse: EWX) notes the announcement by Goldcorp Inc. ("Goldcorp") that it intends to amend its hostile offer to acquire all of the outstanding common shares of Osisko (the "Offer") to, among other things, extend the expiry date, increase the consideration payable and reduce the minimum tender condition.

The Board of Directors of Osisko will consider this announcement. Until the Corporation completes its review, it will not comment further or speculate as to any future course of action it might take.

Shareholders are reminded that the Corporation recommends that shareholders defer taking any action in respect of the hostile Offer until the Board of Directors of the Corporation makes a recommendation as to the merits of the hostile Offer.

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On January 13, 2014 the company released News

GOLDCORP ANNOUNCES OFFER TO ACQUIRE OSISKO FOR C$5.95 PER SHARE IN CASH AND SHARES

Goldcorp Inc. intends to commence an offer to acquire all of the outstanding common shares of Osisko Mining Corp. for approximately $2.6-billion in cash and shares. All amounts are in United States dollars unless stated otherwise.

Under the terms of the offer, Osisko shareholders will be entitled to receive 0.146 of a Goldcorp common share plus $2.26 in cash for each Osisko common share. Based on Goldcorp's Toronto Stock Exchange closing share price of $25.29 on Jan. 10, 2014, the total consideration offered to Osisko shareholders is $5.95 per Osisko common share, representing a premium of 28 per cent over the 20-day volume-weighted average share price of Osisko from all trading on Canadian exchanges for the period ending Jan. 10, 2014, and a premium of 15 per cent over Osisko's TSX closing share price on Jan. 10, 2014.

Transaction highlights:

- Consistent with Goldcorp's strategy of disciplined portfolio enhancement, focus on gold and investment in low-political-risk jurisdictions;
- Large, approximately 10-million-ounce gold reserve (1) that, with Goldcorp's financial and technical resources, should support a long mine life and low all-in sustaining costs;
- Immediately accretive on key per-share metrics, including free cash flow, operating cash flow, net asset value, gold production and gold reserves;
- Provides Goldcorp with immediate free cash flow as it completes the construction and ramp-up of its key growth projects at Cerro Negro, Eleonore and Cochenour over the next 18 months;
- Addition of a high-quality operating mine in the prolific Abitibi mining district of Quebec;
- Leverages Goldcorp's existing investments in Quebec and Ontario with opportunity for corporate and regional synergies.

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