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Osisko Mining Corp.

Publié le 13 novembre 2012

Reports Third Quarter 2012 Results

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Osisko Reports Third Quarter 2012 Results

Mine Operating Profits of $60.1 Million, Net Profit of $26.2 Million

Osisko Mining Corporation (the "Company" or "Osisko") (TSX:OSK)(FRANKFURT:EWX) is pleased to report that it has generated a net profit of $26.2 million ($0.07 per share) during the third quarter of 2012 versus a net profit of $9.3 million in the third quarter of 2011 ($0.02 per share). The higher profitability is attributable to continued progress on the ramp up of the Canadian Malartic mine and improved margins.

Q3 Highlights

 
--  Gold production of 103,753 ounces, a new quarterly record; 
    
--  Operating cash flow of $55.4 million; 
    
--  Continued progress on plant ramp up and optimization with record tonnage
    mined and milled being achieved; and 
    
--  Cash costs per ounce of C$864.

 

Q4 Preview

 
--  Drilling program initiated in Mexico in late October; 
    
--  Record daily mill throughput of 58,476 tonnes achieved in the first week
    of November; and 
    
--  Announcement of the friendly acquisition of Queenston Mining Inc. in
    November.

 

Mine operating profits during the third quarter totaled $60.1 million compared to $38.3 million in the corresponding period in 2011. Record gold production of 103,753 ounces was achieved during the period. Gold production continues to increase quarter-over-quarter with improvements in the milling plant following the installation and commissioning of the two secondary cone crushers, increased availability in the circuit and optimization measures. The table below outlines the steady progress towards achieving design mill throughput rates, rising availability and subsequent increase of gold production.

 
------------------------------------------------------------
                 Tonnes per     Availability Gold Production
               Operating Day             (%)            (oz)
            ------------------------------------------------
Q3 2012               43,181              94         103,753
Q2 2012               38,074              90          92,003
Q1 2012               35,728              87          91,178
Q4 2011               33,733              90          79,718
Q3 2011               36,742              86          73,814
Q2 2011               29,894              82          46,606
------------------------------------------------------------

 

Sean Roosen, President and Chief Executive Officer of Osisko, commenting on the third quarter results: "We continue to focus on ramping up our operations at Canadian Malartic to the 55,000 tonnes per day name plate capacity. We are making very good progress and are increasing our gold output and improving our profit margins. Our cash unit cost decreased by 15% during the period and we continue to benefit from robust gold market".

During the first nine months of 2012, the Canadian Malartic mine generated a net profit of $171.6 million and Osisko a net profit of $68.8 million ($0.18 per share). In 2011, the year-to-date mine operating profits amounted to $39.9 million from commencement of commercial production on May 19, 2011, and the Company incurred a net loss of $19.8 million ($0.05 per share). In addition to the shorter operation period, the 2011 results were impacted by exploration project write-offs and special incentive awards following the completion of the Canadian Malartic Project.

Operating cash flow amounted to $55.4 million for the quarter and $189.8 million for year-to-date, compared to $49.5 million and $46.0 million in the corresponding periods of 2011. Investments in mining assets totaled $189.5 million to date during 2012.

The mine operating statement for the production period is as follows:

 
----------------------------------------------------------------------------
                    Q3 2012     Q2 2012     Q1 2012     Q4 2011     Q3 2011 
                ------------------------------------------------------------
Gold sales                                                                  
 (ounces)            95,424      95,675      92,400      75,100      72,100 
Silver sales                                                                
 (ounces)            49,751      48,880      52,800      42,100      49,800 
----------------------------------------------------------------------------
                      ($000)      ($000)      ($000)      ($000)      ($000)
                ------------------------------------------------------------
Revenues            158,503     157,134     158,658     128,100     122,879 
----------------------------------------------------------------------------
                                                                            
Production Costs    (81,841)    (98,837)    (71,910)    (74,841)    (74,647)
Royalties            (1,998)     (2,021)     (2,359)     (1,933)     (1,192)
Depreciation        (14,605)    (15,289)    (13,877)    (11,800)     (8,748)
                ------------------------------------------------------------
Total               (98,444)   (116,147)    (88,146)    (88,574)    (84,587)
                                                                            
                ------------------------------------------------------------
Net Mining                                                                  
 Profit              60,059      40,987      70,512      39,526      38,292 
----------------------------------------------------------------------------

 

Improvements in unit cost in the quarter compared to the second quarter include:

 
i.  Increased throughput and mill efficiencies; 
    
ii. Lower contractors' costs; 
    
iii.Improved mining conditions (second quarter results were impacted by
    defective boosters in the blasting cycle); and 
    
iv. Elimination of inefficiencies caused by the May 9, 2012 mill fire;

 

Key operating results

(in thousands of Canadian dollars, unless otherwise noted)

 
----------------------------------------------------------------------------
                             Q3 2012   Q2 2012   Q1 2012   Q4 2011   Q3 2011
                          --------------------------------------------------
Gold Production (oz)         103,753    92,003    91,178    79,718    73,814
Gold Sales (oz)               95,424    95,675    92,400    75,100    72,100
Average Sale Price                                                          
 (US$/oz)                      1,659     1,605     1,698     1,655     1,695
Average Market Price                                                        
 (US$/oz)                      1,652     1,609     1,691     1,688     1,702
Cash Costs per Ounce                                                        
 (C$/oz)                         864     1,015       860       936       918
Cash Costs per Ounce                                                        
 (US$/oz)                        867     1,004       858       914       939
Cash Margin per Ounce                                                       
 (US$/oz)                        792       601       840       741       756
Revenues                     158,503   157,134   158,658   128,100   122,879
Mine Operating Profit         60,059    40,987    70,512    39,526    38,292
Net Earnings                  26,156    13,271    29,359    37,802     9,302
Net Earnings per Share          0.07      0.03      0.08      0.10      0.02
Operating Cash Flows          55,353    55,698    78,716    39,660    49,512
----------------------------------------------------------------------------

 

The production statistics are as follows:

 
----------------------------------------------------------------------------
                          Q3          Q2          Q1          Q4          Q3
                        2012        2012        2012        2011        2011
                ------------------------------------------------------------
Tonnes Mined                                                                
 (000's)                                                                    
  - Ore                4,853       3,234       4,037       3,549       3,005
  - Waste              9,215       9,545       8,458      10,590       7,899
  - Overburden         1,409       1,740       1,954       1,823       1,029
                ------------------------------------------------------------
Total                 15,477      14,519      14,449      15,962      11,933
Tonnes Milled                                                               
 (000's)               3,757       3,236       2,965       2,935       3,086
Grade (g Au/t)          0.97        0.99        1.05        0.96        0.85
Recovery (%)            88.7        89.2        91.2        88.3        87.0
Gold production                                                             
 (oz)                103,753      92,003      91,178      79,718      73,814
----------------------------------------------------------------------------

 

Mining activities in the period were impacted by a delay in executing a blast of 940,000 tonnes over old underground workings, which limited access to higher grade ore. The blast was successfully completed on October 27, 2012.

During October 2012, mill throughput continued to progress with more than 1.53 million tonnes being milled for an average daily throughput rate of 49,361 tonnes per day. Gold production totaled 36,440 ounces. Ore grade was 0.83 g/t, due to constraints in the mining areas as a result of the delayed blast and processing stockpiled ore. Though throughputs continue to increase in October, recoveries remain above feasibility expectations at 88.9%.

In the first eight days of November, the mill processed at an average daily rate of 52,853 tonnes and achieved a record throughput of 58,476 tonnes on November 4, 2012.

Mill operating statistics continue to show progress in all categories.

 
----------------------------------------------------------------------------
                 Total                                            Tonnes per
             Available  Operating              Tonnage     Tonnes  Operating
                 Hours      Hours    (%)  Produced (t)   per Hour        Day
----------------------------------------------------------------------------
Q2 2011          2,184      1,793     82     2,481,196      1,384     29,894
Q3 2011          2,208      1,890     86     3,086,324      1,633     36,742
Q4 2011          2,208      1,995     90     2,934,803      1,471     33,733
Q1 2012          2,184      1,890     87     2,965,456      1,569     35,728
Q2 2012          2,184      1,960     90     3,236,281      1,651     38,074
Q3 2012          2,208      2,071     94     3,756,768      1,814     43,181
----------------------------------------------------------------------------

 

Osisko's operating focus for the balance of 2012 will be:

 
i.  Complete planned mill modifications with the installation of the second
    pebble crusher; 
    
ii. Stabilize the operating circuit to reach steady-state throughput design
    capacity of 55,000 tonnes per day; 
    
iii.Improve productivity of the mine; 
    
iv. Focus on optimization of operations and unit cost reduction.

 

Improved Financial Flexibility

During the second quarter, the Company amended its $150 million credit facility with CPPIB Credit Investments Inc. ("CPPIB"), a wholly-owned subsidiary of the CPP Investment Board, with CPPIB making available to the Company an additional $100 million delayed draw term loan. The key terms of the amendment are as follows:

 
--  The initial cash repayment schedule has been extended by one year to
    June 30, 2013. The reimbursements are based on 50% of free cash flow up
    to $60 million per annum. 
    
--  CPPIB will make available a delayed draw term loan of $100 million for
    working capital and general corporate purposes. Osisko may draw funds
    under this facility in $20 million increments, and any funds outstanding
    are reimbursable by December 31, 2013. No funds were drawn to date on
    this facility. There are no standby fees related to this tranche.

 

As part of the agreement, Osisko has agreed to reduce the strike price of share purchase warrants to $10 for Tranche A (was previously $10.75) and Tranche B (was previously $19.25). Of the total 12.5 million of warrants, 5.5 million Tranche B warrants can be accelerated at Osisko's discretion if the share price trades at a 50% premium to the exercise price for a period of 15 days. Tranche A warrants expire on September 24, 2014 and Tranche B warrants are set to expire on December 31, 2015.

A summary of the Company's financial position is as follows:

 
----------------------------------------------------------------------------
($ Million)                         September 30, 2012     December 31, 2011
----------------------------------------------------------------------------
Cash Position(1)                                 114.9                 142.0
Working Capital                                   37.8                  47.4
Total Assets                                   2,232.5               2,069.2
Total Debt                                       327.9                 331.6
Shareholders' Equity                           1,756.2               1,654.1
----------------------------------------------------------------------------
  (1) Includes Cash and Cash equivalents and Restricted cash.

 

Osisko made its second installment guarantee payment of $12.7 million to the Quebec Government on October 1, 2012, to fund future estimated closure costs which are estimated at $46.4 million. Total funds deposited with the Government amount to $34.8 million.

Exploration and Development

The Company continues to conduct exploration work on a regional basis around the Canadian Malartic infrastructure for additional resources and reserves. At Hammond Reef, the Company has initiated work necessary for the Project Feasibility Study, which is expected to be completed in late 2012 or early 2013. The Minister of Environment of Ontario has approved the Terms of Reference for the Environmental Impact Assessment.

The Company has also acquired a significant land package in an emerging Mexican gold belt. To date, approximately 1M hectares of ground have been staked. A systematic greenfield exploration program has been completed, and a significant target has been identified following a high density stream sediment survey, detailed mapping, geochemistry and geophysics work. An initial 10,000 meter drill program was initiated in late October.

Proposed Friendly Acquisition of Queenston Mining Inc.

On November 12, 2012, Osisko announced that it had entered into a definitive agreement to acquire, on a friendly basis, all of the issued and outstanding common shares of Queenston Mining Inc. ("Queenston") on the basis of 0.611 of an Osisko common share for each common share of Queenston. Queenston is a Canadian mineral exploration and development company with a primary focus on its holdings in the historic Kirkland Lake gold camp comprising 230km2 of exploration lands. Osisko has entered into lock-up agreements with Queenston insiders and certain significant shareholders representing approximately 30% of the issued and outstanding common shares of Queenston. At the date of announcement, the transaction valued Queenston's equity at approximately $550,000,000, and would result in the issuance of approximately 56,000,000 common shares of Osisko, based on the fully diluted in-the-money common shares outstanding of Queenston, representing approximately 12% of Osisko outstanding common shares, post transaction.

The board of directors of Queenston has unanimously approved the transaction and will recommend that shareholders vote in favor of the transaction. Completion of the transaction, by way of a plan of arrangement, is subject to customary conditions, including court approval, a favourable vote of at least 66 2/3 % of the holders of Queenston common shares and the receipt of all necessary regulatory and stock exchange approvals. Assuming all of the conditions are fulfilled, it is expected the transaction will be completed in late 2012 or early 2013.

Non-IFRS Financial Performance Measures

The Company has included certain non-IFRS measures including "cash cost per ounce" and "cash margin per ounce" to supplement its consolidated financial statements, which are presented in accordance with International Financial Reporting Standards ("IFRS"). Refer to the Company's Management Discussion and Analysis for the three months ended September 30, 2012.

Q3 Conference Call Information

Osisko will host a conference call on Wednesday November 14th at 8:00am EST, where senior management will discuss the financial results and provide an update of the Company's activities. Those interested in participating in the conference call should dial in at (416) 981-9012 (Toronto local and international), or 1-800-909-4792 (North American toll free). An operator will direct participants to the call.

The conference call replay will be available from 10:00 a.m. EST on November 14, 2012 until 11:59 p.m. EST on November 29, 2012 with the following dial in number: (416) 626-4100 or Toll-free 1-800-558-5253, access code 21607972.

About Osisko Mining Corporation

Osisko Mining Corporation operates the Canadian Malartic gold mine in Malartic, Quebec and is pursuing exploration on a number of properties, including the Hammond Reef Gold Project in Northern Ontario.

Mr. Luc Lessard, Eng., Senior Vice-President and Chief Operating Officer of Osisko, is the Qualified Person who has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed.

Cautionary Notes Concerning Estimates of Mineral Resources

This news release uses the terms measured, indicated and inferred resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. In addition, inferred resources are considered too geologically speculative to have any economic considerations applied to them. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for Preliminary Assessment as defined under NI 43-101. Readers are cautioned not to assume that that further work will lead to mineral reserves that can be mined economically.

For further information in relation to the Hammond Reef project, please refer to the "Technical Report on the Hammond Reef Gold Property Atikokan area, Ontario" dated December 20, 2011. For further information in relation to the Canadian Malartic project, please refer to the "Feasibility Study - Canadian Malartic Project (Malartic, Quebec)", dated December 2008. Both of these reports are available under the Osisko profile at www.sedar.com.

Note Regarding Certain Measures of Performance

This press release contains certain non-IFRS measures, including "cash cost per ounce" and "cash margin per ounce". The Company believes that these measures, together with measures determined in accordance with IFRS, provides investors with an improved ability to evaluate the underlying performance of the Company. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Forward-Looking Statements

Certain statements contained in this press release may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Osisko expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "scheduled" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur including, without limitation, timely and successful completion of the planned mill modifications with the installation of the second pebble crusher, stabilization of the operating circuit to reach throughput design capacity of 55,000 tonnes per day, improvement of mine productivity, the optimization of the plant and the reduction of cost, positive outcome of any exploration work conducted around the Canadian Malartic infrastructure or at the Hammond Reef project, further development of its Hammond Reef project including timely completion of various studies necessary for the project feasibility study, and positive outcome of any claim to be filed with the Company's explosive contractor. Although Osisko believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, including, without limitation, that all technical, economical and financial conditions will be met in order to achieve such events qualified by the foregoing cautionary note regarding forward looking statements, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements.

Factors that could cause the actual results to differ materially from those in forward-looking statements include gold prices, access to skilled consultants, mining development and construction personnel, results of exploration and development activities, Osisko's limited experience with production and mining operations, uninsured risks, regulatory framework and changes, defects in title, availability of personnel, materials and equipment, timeliness of government approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations market prices, continued availability of capital and financing and general economic, market or business conditions. These factors are discussed in greater detail in Osisko's most recent Annual Information Form and in the most recent Management Discussion and Analysis filed on SEDAR, which also provide additional general assumptions in connection with these statements. Osisko cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Osisko believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.

 
Osisko Mining Corporation                                                   
Consolidated Balance Sheets                                                 
(Unaudited)                                                                 
--------------------------------------------------------------------------- 
(tabular amounts expressed in thousands of Canadian dollars)                
                                                                            
                                               September 30,   December 31, 
                                                        2012           2011 
                                              -------------- -------------- 
                                                           $              $ 
ASSETS                                                                      
Current assets                                                              
  Cash and cash equivalents                           78,260        100,670 
  Restricted cash                                     13,006         14,485 
  Accounts receivable                                 29,924         39,419 
  Inventories                                         82,084         47,552 
  Prepaid expenses and other assets                    8,492          7,174 
                                              ------------------------------
                                                     211,766        209,300 
Non-current assets                                                          
  Restricted cash                                     23,608         26,878 
  Investments in associates                            4,871          1,698 
  Other investments                                   18,576         16,041 
  Property, plant and equipment                    1,973,716      1,801,325 
  Deferred income and mining taxes                         -         14,000 
                                              ------------------------------
                                                   2,232,537      2,069,242 
                                              ------------------------------
                                              ------------------------------
Liabilities                                                                 
Current liabilities                                                         
  Accounts payable and accrued liabilities            90,489         74,562 
  Current portion of long-term debt                   82,220         86,485 
  Provisions and other liabilities                     1,227            824 
                                              ------------------------------
                                                     173,936        161,871 
Non-current liabilities                                                     
  Long-term debt                                     245,696        245,139 
  Provisions and other liabilities                    17,032          6,038 
  Deferred income and mining taxes                    39,714          2,126 
                                              ------------------------------
                                                     476,378        415,174 
                                              ------------------------------
Equity attributable to Osisko Mining                                        
 Corporation shareholders                                                   
  Share capital                                    1,683,185      1,656,034 
  Warrants                                            18,261         13,166 
  Contributed surplus                                 57,127         55,909 
  Equity component of convertible debenture            8,005          8,005 
  Accumulated other comprehensive income              (9,556)        (9,397)
  Deficit                                               (863)       (69,649)
                                              ------------------------------
                                                   1,756,159      1,654,068 
                                              ------------------------------
                                                   2,232,537      2,069,242 
                                              ------------------------------
                                              ------------------------------
                                                                            
                                                                            
                                                                            
Osisko Mining Corporation                                                   
Consolidated Statements of Income (Loss)                                    
For the three and nine months ended September 30, 2012 and 2011             
(Unaudited)                                                                 
----------------------------------------------------------------------------
(tabular amounts expressed in thousands of Canadian dollars, except per     
share amounts)                                                              
                                                                            
                                 Three months ended       Nine months ended 
                                      September 30,           September 30, 
                            ------------------------------------------------
                                   2012        2011        2012        2011 
                            ------------------------------------------------
                                      $           $           $           $ 
                                                                            
Revenues                        158,503     122,879     474,295     135,308 
                                                                            
Mine operating costs                                                        
  Production costs              (81,841)    (74,647)   (252,588)    (84,045)
  Royalties                      (1,998)     (1,192)     (6,378)     (1,351)
  Depreciation                  (14,605)     (8,748)    (43,771)     (9,986)
                            ------------------------------------------------
Earnings from mine                                                          
 operations                      60,059      38,292     171,558      39,926 
  General and administrative                                                
   expenses                      (7,601)     (6,577)    (20,950)    (24,563)
  Exploration and corporate                                                 
   development expenses          (2,852)     (7,774)     (8,105)    (20,934)
  Other expenses                      -           -           -        (485)
                            ------------------------------------------------
Earnings (loss) from                                                        
 operations                      49,606      23,941     142,503      (6,056)
  Interest income                   233         454       1,145       1,964 
  Finance costs                  (7,983)     (6,995)    (22,825)    (10,766)
  Foreign exchange gain                                                     
   (loss)                         3,431      (4,331)      3,160      (2,817)
  Share of loss of                                                          
   associates                      (353)        (29)       (628)       (480)
  Other gains (losses)               82      (1,758)     (2,982)      1,326 
                            ------------------------------------------------
Earnings (loss) before                                                      
 income and mining taxes         45,016      11,282     120,373     (16,829)
  Income and mining tax                                                     
   expense                      (18,860)     (1,980)    (51,587)     (2,976)
                            ------------------------------------------------
Net earnings (loss)              26,156       9,302      68,786     (19,805)
                            ------------------------------------------------
                            ------------------------------------------------
                                                                            
Net earnings (loss) per                                                     
 share                                                                      
  Basic                            0.07        0.02        0.18       (0.05)
  Diluted                          0.07        0.02        0.18       (0.05)
                                                                            
Weighted average number of                                                  
 common shares outstanding                                                  
 (in thousands)                                                             
  Basic                         388,153     384,307     387,588     382,995 
  Diluted                       390,238     394,528     389,653     382,995 
                                                                            
                                                                            
                                                                            
Osisko Mining Corporation                                                   
Consolidated Statements of Cash Flows                                       
For the three and nine months ended September 30, 2012 and 2011             
(Unaudited)                                                                 
----------------------------------------------------------------------------
(tabular amounts expressed in thousands of Canadian dollars)                
                                                                            
                                 Three months ended       Nine months ended 
                                      September 30,           September 30, 
                            ------------------------------------------------
                                   2012        2011        2012        2011 
                            ------------------------------------------------
                                      $           $           $           $ 
Operating activities                                                        
  Net earnings (loss)            26,156       9,302      68,786     (19,805)
  Adjustments for:                                                          
    Interest income                (233)       (454)     (1,145)     (1,964)
    Share-based compensation      2,273       2,327       7,612       7,780 
    Depreciation                 14,765       8,730      44,248      10,304 
    Finance costs                 7,983       6,994      22,825      10,765 
    Write-off of property,                                                  
     plant and equipment            102       4,895         719      16,276 
    Gain on disposal of                                                     
     property, plant and                                                    
     equipment                        -           -        (319)          - 
    Unrealized foreign                                                      
     exchange loss (gain)        (3,644)      5,404      (3,469)      3,395 
    Share of loss of                                                        
     associates                     353          29         628         480 
    Gain on sale of                                                         
     available-for-sale                                                     
     financial assets              (670)        (24)       (602)     (5,041)
    Unrealized net loss                                                     
     (gain) on financial                                                    
     assets at fair value                                                   
     through profit and loss       (160)      4,044       1,545       8,515 
    Unrealized loss on                                                      
     available-for-sale                                                     
     financial assets                 -           -         152           - 
    Impairment on available-                                                
     for-sale financial                                                     
     assets                         428           -       1,522           - 
    Deferred gain - premium                                                 
     on flow-through shares           -      (2,054)          -      (4,282)
    Provisions and other                                                    
     liabilities                  1,797         260       1,879         395 
    Income and mining tax                                                   
     expense                     18,860       1,980      51,587       2,976 
    Other non-cash gain               -           -           -        (639)
                            ------------------------------------------------
                                 68,010      41,433     195,968      29,155 
  Change in non-cash working                                                
   capital items                (12,657)      8,079      (6,201)     16,885 
                            ------------------------------------------------
Net cash flows from                                                         
 operating activities            55,353      49,512     189,767      46,040 
                            ------------------------------------------------
Investing activities                                                        
  Net decrease in short-term                                                
   investments                        -       3,045           -      17,068 
  Net decrease in restricted                                                
   cash                           4,238         954       4,749       1,644 
  Acquisition of investments     (3,404)       (989)    (10,950)    (12,283)
  Proceeds on disposal of                                                   
   investments                    1,364         204       1,838      12,038 
  Property, plant and                                                       
   equipment, net of                                                        
   government credits           (57,876)    (60,231)   (189,504)   (297,254)
  Interest received                 232         555       1,027       2,169 
                            ------------------------------------------------
Net cash flows from                                                         
 investing activities           (55,446)    (56,462)   (192,840)   (276,618)
                            ------------------------------------------------
Financing activities                                                        
    Debt issuance costs              (6)       (617)       (116)       (635)
    Finance lease payments       (5,736)     (3,004)    (16,702)     (3,823)
    Long-term debt                                                          
     repayments                  (1,250)     (1,250)     (3,750)     (2,083)
    Issuance of common                                                      
     shares, net of expenses      8,409      18,885      17,896      38,776 
    Interest paid                (5,588)     (5,281)    (16,665)     (7,391)
                            ------------------------------------------------
Net cash flows from                                                         
 financing activities            (4,171)      8,733     (19,337)     24,844 
                            ------------------------------------------------
Increase (decrease) in cash                                                 
 and cash equivalents            (4,264)      1,783     (22,410)   (205,734)
Cash and cash equivalents -                                                 
 beginning of period             82,524     150,976     100,670     358,493 
                            ------------------------------------------------
Cash and cash equivalents -                                                 
 end of period                   78,260     152,759      78,260     152,759 
                            ------------------------------------------------
                            ------------------------------------------------

 

 

Osisko Mining Corp.

PRODUCTEUR
CODE : OSK.TO
ISIN : CA6882781009
Suivi et investissement
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Osisko Mining est une société de production minière d'or basée au Canada.

Osisko Mining détient divers projets d'exploration au Bresil, au Canada et en Argentine.

Son principal projet en production est MALARTIC au Canada et ses principaux projets en exploration sont GOLDBORO, SLEITAT, JC - SMART SKARNS, HAMMOND REEF, MALARTIC CHL GOLD PROPERTY, DUPARQUET et CLEMENT LAKE au Canada, EL POTOSI et SANTA CLARA / CERRO BONITO au Salvador, CERRO CONDORINI et COAL CREEK au Perou, CASTELO DOS SONHOS au Bresil et FAMATINA en Argentine.

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Dans les médias de Osisko Mining Corp.
20/12/2018Osisko Mining reports 39% higher grade than resource model a...
Rapports annuels de Osisko Mining Corp.
2008 Annual report
Financements de Osisko Mining Corp.
31/08/2011Osisko Announces an Increase in Caterpillar Lease Financing ...
31/08/2011Announces an Increase in Caterpillar Lease Financing Facilit...
18/11/2009Strengthens Balance Sheet With $241 M Proceeds From Exercise...
30/06/2009Closes $10.64 Million Flow-Through Financing
17/04/2006Announces C10$ million "bought deal" financing
Nominations de Osisko Mining Corp.
10/05/2013Anounces Election of Directors
17/04/2012Nominates Michele Darling to Board of Directors
14/03/2012Appoints Gary Sugar to Board of Directors
02/02/2012Board Member Resigns
16/09/2011Osisko Appoints Richard Ross to Board of Directors
15/09/2011Appoints Richard Ross to Board of Directors
22/08/2011Director Resigns
Rapports Financiers de Osisko Mining Corp.
14/02/2014Provides Notice of Fourth Quarter and Year End 2013 Results ...
01/08/2013Reports Second Quarter 2013 Results
15/07/2013Provides Notice of Second Quarter 2013 Operating and Financi...
09/05/2013Reports First Quarter 2013 Results
29/04/2013Provides Notice of First Quarter 2013 Financial Results Rele...
21/02/2013Reports Fourth Quarter and Year-End 2012 Results
13/11/2012Reports Third Quarter 2012 Results
05/07/2012Produces 92,003 Ounces Au in Second Quarter
09/05/2012Provides Notice of First Quarter 2012 Financial Results Rele...
27/02/2012Q4 2011 Net Profit of $37.8 Million
16/01/2012Provides Notice of Fourth Quarter and Year-End 2011 Financia...
11/08/2011Releases Second Quarter 2011 Results
16/05/2011Osisko Releases First Quarter 2011 Results
14/05/2011Osisko Releases First Quarter 2011 Results
28/02/2011Releases Year-End Financial Results and Review of 2010
28/02/2011publie ses résultats financiers de fin d'année
06/11/2009Releases Third Quarter 2009 Results
11/08/2009Releases Second Quarter 2009 Results
Projets de Osisko Mining Corp.
26/07/2017OSK Osisko Mining drills 2.7 m of 57 g/t Au at Windfall
21/02/2014Intersects 2.26 g/t Gold Over 128 Metres at Kirkland Lake
07/02/2014(Malartic)Commences 2014 Canadian Malartic Exploration Program
06/02/2014(Malartic)Reports Record January Production at Canadian Malartic
04/12/2013Intersects 61.6 Metres Averaging 1.44 g/t Au at Bidgood
21/11/2013(Malartic)Canadian Malartic Mine Produces Millionth Ounce
23/10/2013GLOBAL'S NEVADA PROJECTS ATTRACT STRONG THIRD PARTY INTEREST...
10/07/2013(Malartic)Deposits Study Reporting Local and Regional Economic Impact ...
30/01/2013Intersects 5.5 g/t Au Over 54.0 Metres at Upper Beaver
10/12/2012(Malartic)Reports November Production From Canadian Malartic
12/11/2012Announces Friendly Acquisition of Queenston
11/10/2012(Malartic)Canadian Malartic Mine Produces Half Millionth Ounce
10/10/2012(Malartic)Reports Record Quarterly Production from Canadian Malartic
06/09/2012(Malartic)Reports Record Monthly Production from Canadian Malartic
26/07/2012Acquires Common Shares of Bowmore Exploration Ltd=2E
17/05/2012(Malartic)Canadian Malartic Mill Returns to Operation
10/05/2012(Malartic)Reports Fire Damage at Canadian Malartic Mill Limited to Cyc...
30/01/2012(Famatina)s Status of Famatina Exploration Project
22/12/2011and DIOS Discover New Gold Showings on the AU33 WEST Project
28/11/2011TSX.V Company Adjacent to Osisko Property - 3 Minute Video
29/09/2011(Goldboro)Orex to Pursue Exploration Work on Goldboro Gold Project
08/09/2011(Malartic)Intersects 1.23 g/t Au Over 172 Metres at Barnat Extension
31/08/2011Osisko and EMSE Sign Agreement for Development of Famatina P...
31/08/2011(Famatina)and EMSE Sign Agreement for Development of Famatina Project ...
11/08/2011(Goldboro)Goldboro Gold Project Drill Assay Results Identify Extension...
05/08/2011Osisko Buys Back a 1% Royalty Interest on Canadian Malartic ...
05/08/2011(Malartic)Buys Back a 1% Royalty Interest on Canadian Malartic Propert...
21/06/2011Osisko Declares Commercial Production at Canadian Malartic
21/06/2011(Malartic)Declares Commercial Production at Canadian Malartic
17/06/2011Osisko Submits Notice of Termination in Duparquet Project
17/06/2011(Duparquet)Submits Notice of Termination in Duparquet Project
14/06/2011(Malartic)=?ISO-8859-1?Q?Osisko=20recoupe=201,50=20g/t=20Au=20sur=2063...
14/06/2011(Malartic)Intersects 1.50 g/t Au Over 63.6 Metres at Jeffrey Zone
13/06/2011(Duparquet)et Clifton Star annoncent une estimation de ressources pour ...
13/06/2011(Duparquet)and Clifton Star Release Resource Estimate for the Beattie D...
01/06/2011(Malartic)Officially Inaugurates the Canadian Malartic Mine
01/06/2011Osisko Officially Inaugurates the Canadian Malartic Mine
02/05/2011(Malartic)Announces Revised Mine Production Plan at Canadian Malartic
21/04/2011(Goldboro)Orex Exploration Inc.: Drilling Campaign Has Begun at Goldbo...
20/04/2011Osisko Mining Corporation - Drilling campaign has begun at G...
20/04/2011Osisko Mining Corporation - Drilling campaign has begun at G...
13/04/2011(Malartic)Pours First Gold at Canadian Malartic Mine
31/03/2011(Malartic)Osisko accroît les réserves aurifères de Canadian Malartic à...
31/03/2011(Malartic)Increases Gold Reserve at Canadian Malartic to 10=2E7 Millio...
29/03/2011(Malartic)Exercises Buy Out Option in Canadian Malartic Net Smelter Ro...
28/02/2011(Malartic) Découverte de minéralisation de type Canadian Malartic
24/02/2011(Hammond Reef)Reports 124 Metres Averaging 0.73 g/t Au in Southeast Extens...
29/01/2011(Malartic)Osisko Reports Significant New Intersections at Barnat Exten...
25/01/2011(Malartic)Reports Significant New Intersections at Barnat Extension, I...
21/12/2009(Malartic)Provides Update on Construction and Development Progress at ...
14/12/2009(Malartic)Releases New Resource Estimate for Canadian Malartic Project
20/10/2009(Malartic) Intersects New Gold Mineralization on the Malartic CHL Prop...
14/09/2009(Malartic)Intersects 1.20 g/t Au Over 86.9 Metres at Jeffrey Zone
01/09/2009(Malartic)Osisko Mining Corporation: Construction Activities at Canadi...
20/08/2009(Malartic)Quebec Government Authorizes Construction of Osisko's Canadi...
26/02/2009(Malartic) Preliminary Metallurgical Results on Barnat
26/01/2009(Malartic)Announces Inferred Resource Estimate for South Barnat Deposi...
03/12/2008(Malartic) Intersects 102 Metres Averaging 3.21 g/t Au at South Barnat
Communiqués de Presse en Français de Osisko Mining Corp.
01/06/2011(Malartic)inaugure officiellement la mine Canadian Malartic
Communiqués de Presse de Osisko Mining Corp.
13/02/2014Mails Letter to Shareholders Regarding Inadequate Goldcorp O...
05/02/2014Provides Corporate Update
29/01/2014Commences Legal Proceeding to Restrain Misuse of Confidentia...
29/01/2014Announces Filing and Mailing of Directors' Circular and Reco...
20/01/2014Reports Preliminary Fourth Quarter 2013 Production
15/01/2014Responds to Unsolicited Proposal From Goldcorp Inc=2E
13/01/2014Responds to Announcement by Goldcorp
16/12/2013Completes Long-Term Debt Renegotiation
24/10/2013Provides Notice of Third Quarter 2013 Operating and Financia...
30/07/2013Enhances Financial Flexibility by Improving Long-Term Debt T...
05/07/2013Intercepts 68 Metres Averaging 1=2E26 =?ISO-8859-1?Q?=20g/t=...
02/07/2013Receives Final $30 Million Payment from Kirkland Lake Gold
29/04/2013Corporate Update
17/04/2013Comments on Trading Activities
09/04/2013(Malartic)Previews Q1 2013 Canadian Malartic Operating Results
21/03/2013Discovers Two New Gold-Copper Zones at Upper Beaver
19/02/2013(Malartic)Receives Modified Operating Parameters at Canadian Malartic
19/02/2013(Malartic)s Reserves at Canadian Malartic
11/02/2013Denis Cimon Receives the 2013 Mineral Processor of the Year
29/01/2013(Hammond Reef)Provides Resource Update for Hammond Reef Project
24/01/2013(Malartic)Previews Q4 2012 Canadian Malartic Operating Results and 201...
12/11/2012(Malartic)Reports Record Monthly Throughput at Canadian Malartic
15/10/2012Founder Retires
09/10/2012Acquires Ground in Emerging Gold Belt in Mexico and Identifi...
03/10/2012Deposits the Second Tranche of itsFinancial Guarantee Coveri...
03/08/2012Secondary Crusher Installation Completed
24/07/2012Acquisition of Subscription Receipts of Druk Capital Partner...
16/05/2012Enhances Credit Agreement With CPPIB
14/05/2012(Malartic)Provides Update on Canadian Malartic
10/05/2012(Malartic)Reports Fire at Canadian Malartic Milling Plant
03/04/2012and Metis Nation of Ontario Sign Memorandum of Understanding
12/03/2012Brings First Half of Secondary Crusher Online
01/03/2012Announces Record Date for Annual Meeting
16/02/2012Canadian gold producer Osisko Mining Corporation joins Globa...
12/01/2012(Malartic)Previews Q4 2011 Canadian Malartic Operating Results
03/01/2012Responds to Below Market Price Offer for 5 Million Shares On...
14/12/2011Osisko Comments on Trading of Common Shares
14/12/2011Comments on Trading of Common Shares
08/10/2011President Sean Roosen Named Ernst & Young 2011 Quebec Entrep...
17/06/2011(Duparquet)met fin =E0 sa participation au projet Duparquet
13/06/2011Osisko and Clifton Star Release Resource Estimate for the Be...
14/05/2011Osisko publie ses r=E9sultats du premier trismestre de 2011
12/05/2011Annual and Special Meeting of Shareholders of Osisko Mining ...
29/04/2011Osisko Announces Revised Mine Production Plan at Canadian Ma...
29/03/2011Osisko Exercises Buy Out Option in Canadian Malartic Net Sme...
09/02/2011Goldcorp Sells Osisko Investment
22/12/2009Donates Shares to McGill University
11/12/2009and Clifton Star Complete Joint Venture Agreement on Duparqu...
13/11/2009Options Goldboro Gold Property From Orex Exploration
28/09/2009 Signs Option Agreement With Claim Post Resources for the Mo...
24/09/2009 Enters Into Financing Agreement With CPPIB Credit Investmen...
11/08/2009Signs Option Agreement With Midland Exploration for the Dunn...
10/07/2009Report on Osisko's Canadian Malartic Bape Hearings is Made P...
03/07/2009Osisko Mining Corporation Completes Strategic Investment
18/06/2009Comments on Trading of Common Shares
21/05/2009Discovers New Mineralized Zone Adjacent to South Barnat
19/05/2009Makes Strategic Investment
13/01/2009 Extends South Barnat to 1200 Metres Length
04/12/2008 Recognized for Strong Sustainability Performance
07/04/2006(Castelo Dos Sonhos)Résultats positifs sur le projet diamantifère Pontax
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