mining

Gold Fields to acquire Osisko Mining for $1.57 billion

Kitco Media
By Michael McCrae
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Gold Fields to acquire Osisko Mining for $1.57 billion teaser image

(Kitco News) - Osisko Mining (TSX:OSK) will be acquired by Gold Fields for $1.57 billion (C$2.16 billion) in an all-cash transaction. 

Osisko said that the transaction represents a 55% premium to Osisko's trading price. 

Osisko's Windfall project was a 50-50 joint venture between Osisko and Gold Fields. Osisko described the Windfall gold deposit as "one of the highest-grade resource-stage gold projects in Canada and has world-class scale." The Windfall resource estimate, assuming a cut-off grade of 3.50 g/t Au, comprises 811,000 tonnes at 11.4 g/t Au (297,000 ounces) in the measured mineral resource category, 10,250,000 tonnes at 11.4 g/t Au (3,754,000 ounces) in the indicated mineral resource category and 12,287,000 tonnes at 8.4 g/t Au (3,337,000 ounces) in the inferred mineral resource category.

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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