Osisko Metals

Canadian mining company

Not to be confused with Osisko Mining Corporation, Osisko Gold Royalties, or Osisko Mining.

Osisko Metals Incorporated

Company type| Public

Traded as

| TSX-V: OM
Industry| Mining
Founded| May 10, 2000; 25 years ago (2000-05-10)
Headquarters|

Montreal, Quebec

Canada

Key people

| John Burzynski (Executive Chairman)
Robert Wares (CEO)
Blair Zaritsky (CFO)[1]
Website| osiskometals.com

Osisko Metals Incorporated (French: Métaux Osisko Incorporée) is a Canadian mining corporation. It currently holds two historical past-producing mines — the Pine Point Mine in the Northwest Territories and the Gaspé Copper mine in Quebec — with the intent to turn them into operating mines.

## History

[edit]

Osisko Metals was founded on May 10, 2000.[2] Previously known as Bowmore Exploration Ltd., it renamed itself to its present name in 2017 after a 1-3 reverse stock split.[3][4]

On December 16, 2017, Osisko Metals announced it would acquire the Pine Point Mine project, via a $34 Million takeover of Pine Point Mining Ltd.[5] The deal was completed on February 23 of the following year.[6] A mineral resources estimate report in 2019, estimated that Osisko Metals could extract 5.3 billion pounds of zinc and 2.1 billion pounds of lead from the Pine Point mine. The then-CEO, Jeff Hussey, estimated that the mine could be built by 2023, provided that there were no major geopolitical scenarios that could disrupt the zinc market.[7] However, work was delayed due to the COVID-19 pandemic.[8] In 2023, Osisko Metals signed a $100 Million agreement with Appian Capital Advisory, a British private equity firm, to form a joint venture for the Pine Point project. Appian received a 60% interest in the joint venture.[9][10] In February 2024, Osisko Metals would sell another 5% stake in the joint venture to Appian for $8.33 million, increasing Appian's share in the joint venture from 60% to 65%.[11] The joint venture is aiming to have the mine start construction by 2028, with production starting in 2030.[12]

In March 2022, Osisko Metals purchased the rights for exploration and drilling on the site of the past-producing Gaspé Copper mine, owned by Glencore. Osisko was given the option to decide whether it wanted to acquire the property by the end of June 2022 after an evaluation.[13][14] However, the date on the decision to acquire the mine was pushed back from June 30 to July 8, 2022.[15] On July 8, 2022, Osisko Metals made the decision to acquire the Gaspé Copper mine from Glencore.[16] The acquisition was completed the following year in July 2023.[17] In February 2024, it formed a committee with figuring out a plan to dewater the open pit of the former mine.[18]

## Current properties

[edit]

* Pine Point Mine[19]
* Gaspé Copper mine[20]

## References

[edit]

1. ^ "Management". Osisko Metals. Retrieved January 10, 2025.
2. ^ "Osisko Metals Incorporated (000015420)". Sedar+. Retrieved January 10, 2025.
3. ^ Keevil, Matthew (August 25, 2017). "Osisko Metals explores Bathurst camp for base metals". The Northern Miner. Retrieved January 10, 2025.
4. ^ "BOWMORE EXPLORATION TO CHANGE NAME TO OSISKO METALS INCORPORATED" (PDF). Osisko Metals Incorporated. Retrieved January 11, 2025.
5. ^ "Pine Point zinc mine project picked up by junior mining company with major backing". CBC News. Retrieved January 11, 2025.
6. ^ "OSISKO METALS COMPLETES ACQUISITION OF PINE POINT" (PDF). Osisko Metals Incorporated. Retrieved January 11, 2025.
7. ^ Desmarais, Anna (January 10, 2020). "Pine Point mine could be operational as early as 2023, says CEO". CBC News. Retrieved January 11, 2025.
8. ^ Pruys, Sarah (August 12, 2020). "'The future is bright for Pine Point,' COO says of mine project". Cabin Radio. Retrieved January 11, 2025.
9. ^ Gleeson, Richard (February 28, 2023). "Companies look to government for help turning N.W.T. projects into mines | CBC News". CBC. Retrieved January 11, 2025.
10. ^ "Osisko Metals, Appian complete JV to advance Pine Point zinc project". MINING.COM. April 6, 2023. Retrieved January 11, 2025.
11. ^ "Osisko Metals Sells An Additional 5% Interest In Pine Point To Appian". Mining North. NWT & Nunavut Chamber of Mines. February 22, 2024. Retrieved January 11, 2025.
12. ^ Ulrich, Carla (February 9, 2024). "New mine at N.W.T.'s Pine Point still 6 years away, company says". CBC News. Retrieved January 11, 2025.
13. ^ Warren, Émilie (March 31, 2022). "Mining industry returns to Murdochville, decades after abandoning the small town". CBC News. Retrieved January 11, 2025.
14. ^ "L'exploitation du cuivre pourrait reprendre à Murdochville". Radio-Canada (in Canadian French). March 29, 2022. Retrieved January 11, 2025.
15. ^ "Acquisition de l'ancienne mine de cuivre à Murdochville : une décision vendredi". Radio-Canada (in Canadian French). July 4, 2022. Retrieved January 11, 2025.
16. ^ "Murdochville : l'ancienne mine de cuivre passe aux mains de Métaux Osisko". Radio-Canada (in Canadian French). July 17, 2023. Retrieved January 11, 2025.
17. ^ Sergerie, Nelson (July 18, 2023). "Osisko conclut sa transaction avec Glencore pour Mines Gaspé de Murdochville". Ma Gaspésie (in French). Retrieved January 13, 2025.
18. ^ Fish-Robertson, Ashley (April 11, 2024). "Osisko Metals plans to dewater flooded pit in Gaspé Copper mine". CIM Magazine. Retrieved January 11, 2025.
19. ^ "Overview of Pine Point Mine". Osisko Metals. Retrieved January 10, 2025.
20. ^ "Gaspé Copper". Osisko Metals. Retrieved January 10, 2025.