Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, August 23, 2024

Article Excerpt

OSISKO MINING INC., $4.80, symbol OSK on Toronto, is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko’s mainproperty is 50% of the Windfall project in James Bay, Quebec, 700 kilometres north of Montreal. Windfall is among the largest gold deposits in Canada. Based on Osisko Mining’s feasibility study from 2022, the site is forecast to produce around 300,000 ounces of gold a year. On August 12, 2024, Osisko announced that it had agreed to be acquired by Gold Fields Ltd. (ADR symbol GFI on New York). Gold Fields is a South African-based company and one of the world’s largest gold miners with nine operating mines in Australia, South Africa, Ghana, Chile, and Peru. Gold Fields already owns 50% of the Windfall project; the acquisition will give it 100%. In May 2023, Gold Fields acquired 50% of the Windfall project from Osisko. It paid $600 million for half the ownership of the project. Gold…