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Osisko Mining Inc. Agrees To Acquire Beaufield Resources

Kitco News

Osisko Mining Inc. (TSX: OSK) has agreed to acquire all shares of Beaufield Resources Inc. (TSXV: BFD), the two companies report. Holders of Beaufield shares would receive 0.0482 of a common share of Osisko for each Beaufield share. This represents an implied offer price of $0.082 per Beaufield share based on Osisko’s Aug. 14 closing price, plus a premium of approximately 54% based on the 20-day volume weighted average price of both companies’ common shares on the Toronto Stock Exchange and TSX Venture Exchange, officials report. The deal is subject to approval by Beaufield shareholders. “By joining Osisko in our large-scale exploration and development program at Windfall, Beaufield shareholders have the opportunity to capitalize on the strong premium offered…and to benefit from the future growth of our project,” says John Burzynski, president and chief executive officer.

By Allen Sykora of Kitco News; asykora@kitco.com

 

OceanaGold CEO: Haile Results ‘To Add More Low-Cost Ounces’

Wednesday August 16, 2018 08:53

OceanaGold Corp. (TSX, ASX: OGC) reports exploration has resulted in additional gold discoveries at the company’s Haile Gold Mine in South Carolina. Results included 46.6 meters at 4.93 grams per tonne between Ledbetter and Snake, 32.3 meters at 10.14 g/t at Mill Zone, 77.7 meters at 4.04 g/t at upper Ledbetter, 21.3 meters at 4.51 g/t at Red Hill and 45.1 meters at 1.17 g/t between Mill Zone and Mustang. Mick Wilkes, president and chief executive officer, says the results “are expected to add more low-cost ounces to our reserves.” He later adds, “Since acquiring the Haile Gold Mine in late 2015, we have delivered a 70% increase in reserves and, through our exploration program, we continue to learn more about the genesis of the mineralization.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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