Osisko Metals
Primary ticker: TSXV:OM, OTCQX: OMZNF
Stage of development: Exploration, Development
Primary minerals: Copper, Zinc, Lead
Project to promote: Gaspé Copper, Pine Point
Project location: Canada, Quebec, NWT
Website: www.osiskometals.com
Osisko Metals is a leading exploration and development company creating value in the critical metals space with a focus on copper and zinc mineral assets. It is developing projects located on the sites of two of Canada’s premier past-producing mines – the Gaspé Copper Mine in Murdochville, Quebec, and, through the Pine Point Mining Limited joint venture, the Pine Point Mining Camp, located in the Northwest Territories.
The Gaspé Copper Project has an NI 43-101 Mineral Resource Estimate that includes pit-constrained resources comprising 824 million tonnes grading 0.34% copper equivalent of Indicated category and 670 million tonnes grading 0.38% copper equivalent of Inferred category.
At 4.91 billion pounds (2.23 million tonnes) of contained copper, as well as significant molybdenum (274 million pounds) and silver (46.0 million ounces), the latest Gaspé Copper in-pit Indicated Resource hosts by far the largest undeveloped copper-molybdenum deposit in Eastern North America, exclusive of Inferred resources.
The Pine Point zinc and lead project is fully funded through to shovel-ready status. It has Indicated Mineral Resources of 49.5Mt grading 4.22% zinc and 1.49% lead containing approximately 4.6 billion pounds of zinc and 1.6 billion pounds of lead in situ (undiluted). It is expected to produce premium, high grade, clean concentrates that are prized by smelters.
The long-term goal of Osisko Metals is to become the leading base metal developer in North America.
Cash: CAD$100M as at December 31, 2024 (approximately)
Debt: NIL
Financials
Management Profile
Robert Wares – CEO
Mr. Wares is a professional geologist with over 35 years of experience in mineral exploration and development. He was responsible for the discovery of the Canadian Malartic bulk tonnage gold mine, which was subsequently developed by Osisko Mining Inc. into one of Canada’s largest gold producers. Among other awards, Mr. Wares was a co-winner of the Prospectors and Developers Association of Canada’s “Prospector of the Year Award” for 2007, and was named, together with John Burzynski and Sean Roosen as “Mining Men of the Year” for 2009 by the Northern Miner. Mr. Wares sits on the Board of Directors of Brunswick Exploration Inc. Mr. Wares has a Bachelor of Science and an Honorary Doctorate in Earth Sciences from McGill University.
Donald R. Njegovan – President
Mr. Njegovan most recently served as Chief Operating Officer at Osisko Mining Inc. prior to its sale to Gold Fields Ltd. He was previously a director of St. Andrew Goldfields until it was acquired by Kirkland Lake Gold in 2016 and is currently on the board of directors of Cornish Metals Inc. He was formerly Managing Director of Global Mining at Scotiabank from August 2010 to June 2014. Prior to that, he was an investment banker at Toll Cross Securities Inc. from June 2005 to July 2010. Mr. Njegovan has over 30 years of experience in the mining industry, starting in 1989 for Hudson Bay Mining & Smelting Co., Ltd. Mr. Njegovan holds a Bachelor of Science in mining engineering from Michigan Technological University and a Bachelor of Arts from the University of Manitoba.
What is your rationale for taking part in 121 Mining Investment?
Meeting new investors and existing shareholders
What recent news would you like to highlight to investors attending?
April 14, 2025: Osisko Metals intersects 300 metres averaging 0.39% copper at Gaspé Copper Project
February 10, 2025: Osisko Metals begins 2025 drill program at Gaspé Copper
January 13, 2025: Osisko Metals welcomes the participation of the Québec Government in its Gaspé Copper Project
December 11, 2024: Osisko Metals announces closing of C$107.4 million “bought deal” private placement
November 19, 2024: Osisko Metals expands leadership team and announces C$100 million bought deal financing
November 14, 2024: Osisko Metals announces significant increase in mineral resources at Gaspé Copper
What are your key goals in 3 months, 6 months, 12 months?
3 – 12 Months:
Complete 110,000-metre drill program aimed at converting the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Expediting the permitting and social acceptability process in order to reach Final Investment Decision (FID) for Gaspé Copper by the end of 2029.
What do you think makes your company such a compelling investment?
Two unique, large scale, critical minerals projects in tier one jurisdictions with supportive infrastructure in place.
What are the top 3 key investor takeaways?
1 – Shift toward a green, sustainable economy coupled with post-COVID infrastructure stimulus is increasing global critical metal demand.
2 – A global production deficit of critical metals is imminent, as only a handful of serious development projects are underway worldwide. Two of those projects are controlled by Osisko Metals, which is well-positioned to capitalize on rapidly evolving markets with significant exposure to both copper and zinc in Canada.
3 – Gaspé Copper is the best copper development asset in Eastern NA and Pine Point (free-carried JV with Appian to final investment decision) has the potential to be one of Canada’s outstanding Zn-Pb mines that would produce premium concentrates.
Key Investor Takeaways
Osisko Metals is Canada’s next leading copper development company. Highlights:
- Led by a senior multi-disciplinary team with a proven track record of discovery, development, finance, building and operating, and high shareholder returns
- Strong balance sheet with closing of $107M bought-deal financing – fully financed to advance Gaspé Copper to final investment decision
- Gaspé Copper is one of the largest undeveloped copper deposits in North America
- Located on a brownfield site near essential infrastructure in Québec – a Tier One mining jurisdiction, according to Fraser Institute
- Project fast-tracking in 2025 with 110,000-metre drill program launched in early February; PEA expected to be released in 2026