Osisko Metals
Financials:
Primary ticker: TSXV:OM
Stage of development: Exploration, Development
Primary minerals: Copper, Zinc, Lead
Projects to promote: Gaspé Copper, Pine Point
Project locations: Canada, Quebec and NWT
Website: www.osiskometals.com
In July 2022, Osisko Metals exercised its option to acquire 100% interest in the past-producing Gaspé Copper Mine located next to the community of Murdochville, in the Gaspé Peninsula of Eastern Quebec, approximately 825km east of Montreal. Quebec is one of the most mining-friendly jurisdictions in North America, with a rich history of copper production. In April 2023, Osisko Metals and Appian Natural Resources Fund III LP (“Appian”) formed the joint venture (JV) Pine Point Mining Limited.
The JV leverages Appian’s extensive mine development experience and includes a crucial investment of C$75 million into the development of the Pine Point Project to “shovel-ready” status. This funding will cover development costs including the feasibility study, environmental assessment and permitting, including Indigenous engagement, as well as definition drilling and additional exploration drilling.
Cash: CAD 5M (August 2023)
Debt: NIL
Major shareholders:
Management & Insiders – 19.2%
Map of Projects
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.
What is your rationale for taking part 121 Mining Investment?
Meeting new investors and existing shareholders
What recent news would you like to highlight to investors attending?
In April 2023, Osisko Metals and Appian Natural Resources Fund III LP (“Appian”) formed the joint venture (JV) Pine Point Mining Limited.
In July 2022, Osisko Metals exercised its option to acquire 100% interest in the past-producing Gaspé Copper Mine located next to the community of Murdochville, in the Gaspé Peninsula of Eastern Quebec, approximately 825km east of Montreal. Quebec is one of the most mining-friendly jurisdictions in North America, with a rich history of copper production.
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Advance exploration drilling across key targets
6 Months:
Advance development and permitting timeline
12 Months:
Advance exploration drilling across key targets
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Main challenge includes advancing permitting timeline. We strongly believe in the zinc market and we envision Pine Point as a clean producer of ultra high quality zinc and lead concentrates. As such, accelerating the permitting timeline from 3 years to shorter is a key challenge for us. With mining being a core focus of the NWT and Pine Point being a past producer, we are well positioned to shorten the process as much as possible.
What do you think makes your company such a compelling investment?
Unique large scale, open pit, high grade zinc-lead project with all supportive infrastructure in place (road, rail and power)