JOHANNESBURG (miningweekly.com) – TSX-listed precious metals company Osisko Mining has disposed of several million shares in fellow TSX-listed explorers, including 1.29-million common shares in Metals Creek Resources and 6.25-million common shares in IDM Mining, for the consideration of $133 891 and $1.37-million, respectively.
The company now has 11.6% of issued and outstanding shares left in Metals Creek, down from 15.8%, though it retained 11.8% in IDM, down from 14.6%.
Osisko, which rebranded from project consolidator Oban Mining in June, also filed an early warning report in respect of its holdings in Vancouver-based gold explorer BonTerra Resources.
On July 7, the corporation acquired, by way of a private placement of BonTerra ownership, control over 1.5-million BonTera units at a price of $0.50 a unit for a total consideration of $750 000, leaving Osisko with a 9.5% stake.
The company did not divulge its reasons for the disposals.