Windfall Project, located in the James Bay territory (Quebec).
Gold Royalties Osisko holds a 2% to 3% royalty interest in the Windfall gold project and surrounding property.
Canadian company Osisko Gold Royalties has sold all the shares it held in exploration and development company Osisko Mining for 132 million Canadian dollars (US$98 million).
The Montreal-based company, which holds royalties from gold, silver and diamond mines primarily in the form of net smelter yields (NSR) and current returns, said it continues to maintain between 2% and 3%. of NSR royalties in the Windfall gold project and surrounding property.
Windfall, located in the James Bay territory (Quebec), is owned by an equal joint venture between Osisko Mining and Gold Fields, created last May.
The sale not only reaffirmed Osisko Royalty’s commitment to align itself as a precious metals royalty and streaming company, but also strengthened its financial position, said Paul Martin, interim CEO, in the release .
“We remain very excited about our current partnership with Osisko Mining and Gold Fields on Windfall, a fully funded high-grade gold project,” Martin said.
According to the latest feasibility study, Windfall would have an initial mine life of 10 years, with an average annual production of 294,000 ounces, potentially placing it among the 10 largest gold mines in Canada.
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