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 is one of the largest copper development assets in Eastern North America. It has an NI 43-101 indicated resource of 495 MT grading 0.37% copper equivalent or 3.25B pounds (1.47M tonnes) of contained copper, significant molybdenum of 180M pounds, and silver at 28M ounces
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 (5.52% Zinc Equivalent (“ZnEq”)) containing approximately 4.6 billion pounds of zinc and 1.6 billion pounds of lead in situ (undiluted).and 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$4M (August 2024)
Debt: NIL
Major shareholders:
Management & Insiders – 19.2%
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.
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?
Osisko Metals Provides Update at Gaspé Copper – July 24, 2024
Osisko Metals Releases 2024 Pine Point Mineral Resource Estimate: 49.5MT of Indicated Mineral Resources Grading 5.52% ZnEq and 8.3MT of Inferred Mineral Resources Grading 5.64% ZnEq – June 25, 2024
May 6, 2024: Osisko Metals Announces Updated Mineral Resource Estimate at Gaspé Copper – Indicated Resource of 495 MT grading 0.37% Copper Equivalent
April 16, 2024: Osisko Metals Reports Preliminary Metallurgical Testwork Results from Gaspé Copper
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Conclude exploration drilling programs at Pine Point (6000 m) and Gaspé (5000m), Launch Feasibility Study at Pine Point, Launch Environmental Baseline studies at Gaspé Copper
6 Months:
Continue definition drilling programs at Gaspé Copper for both Copper Mountain and Needle Mountain deposits (8000-10000 m); complete PEA for Gaspé Copper (Q1 2025)
12 Months:
Continue trade-off studies for Gaspé Copper PEA; file project description with government
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.
The challenge is similar at Gaspé – to expedite the permitting and social acceptability process in order to reach Final Investment Decision (FID) by end 2028.
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 Metal, 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.