Osisko to go it alone at Windfall
Toronto-listed mineral exploration company Osisko has announced that it will develop the Windfall project, in Quebec, independently, after joint venture (JV) negotiations with Australia’s Northern Star concluded without an agreement.
Osisko stated that “the development of the Windfall project on an independent basis would be optimal for the shareholders”.
Osisko noted that it maintained a mutually beneficial relationship with Northern Star as a debt holder through its $154-million in convertible senior secured debenture due December 2025 with a 4.75% a year interest rate.
The company in January updated the mineral resource estimate for Windfall, stating that it had 3.2-million ounces of measured and indicated resources averaging 10.5 g/t gold and 3.6-million ounces of inferred resources, averaging 8.6 g/t gold.
The resource estimate, which reflects 1.7-million metres of drilling, is a strong foundation for the upcoming feasibility study.
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