Osisko reports record January output
TORONTO (miningweekly.com) – Despite an acrimonious C$2.6-billion hostile takeover bid by rival Goldcorp hanging over its head, Quebec-based miner Osisko Mining on Thursday reported that the Canadian Malartic mine reported record output in January.
The Montreal-based firm said that following record fourth-quarter output of 137 321 oz of gold, and record full-year output of 475 277 oz, Osisko's flagship mine produced 50 111 oz of gold last month.
The miner reported that mill throughput for January totalled 1.52-million tonnes, averaging 49 070 t/d at an average grade of 1.16 g/t gold.
The average recovery was 88.6%.
Osisko said that since starting milling operations in April 2011, Canadian Malartic had produced 1.11-million ounces of gold.
"Canadian Malartic is starting to break away from the pack, showing what a powerful gold producer this world-class asset is. Osisko owns the largest gold mine in Quebec, and at current production rates we are the largest producing gold mine in Canada.
“We've always believed that Canadian Malartic was a ‘company maker’ mine, and I think that there should be little doubt left in people's minds that this is true,” Osisko president and CEO Sean Roosen said.
The company said that record monthly production was achieved despite mill downtime and the unusually cold weather, both of which hampered throughput levels at the mill.
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