Osisko Gold provides update on Windfall Project, CSA Mine

On August 12th, 2024, Osisko Mining (OR) announced that it had entered into a definitive arrangement agreement with Gold Fields Limited (GFI) pursuant to which Gold Fields would consolidate ownership of 100% of the Windfall project through the acquisition of all the issued and outstanding common shares of Osisko Mining at a price of $4.90 per share in an all-cash transaction valued at approximately $2.16 billion. Osisko Mining holds a 50% interest in the high-grade Windfall gold deposit located in Quebec and holds a 50% interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area, with the other 50% of Windfall and the large area of claims already owned by Gold Fields. Subject to the satisfaction of all conditions to closing set out in the Arrangement Agreement, it is anticipated that the transaction will be completed in Q4 2024. Osisko owns a 2-3% NSR royalty on the Windfall project and surrounding property. CSA Mine: On July 22nd, 2024, Metals Acquisition Limited (MTAL) announced that, during the second quarter, CSA had achieved record quarterly copper production of 10,864 tonnes under its management, up ~24% quarter-on-quarter, with record monthly copper production in June 2024 of 5,378 tonnes. The record quarter was achieved despite a major planned maintenance shutdown in April, with 1,583 tonnes produced for the month, along with a combined 9,281 tonnes of copper produced over May and June. During the second quarter, the mined grade at CSA averaged 4.2% copper a ~20% increase from the prior quarter as the mine plan shifted to higher grade stopes and dilution control was improved. In addition, on July 30th, 2024, MAC provided a market update on the continuing exploration and resource development at CSA. MAC’s underground exploration continued to focus on the down dip and along strike extensions of the QTSN and QTSC deposits, as well as the shallower, up-dip portions of the East and West deposits and QTSS Upper A zone. Drill results reported in the release included 22.1 m at 9.8% Cu, 22.1 m at 7.8% Cu and 24.2 m at 7.8% Cu. These reported results, amongst others, are after the cut-off date for the 2023 Resource and Reserve and will be incorporated in the 2024 Resource and Reserve Estimate update for CSA. Osisko owns a 100% Silver Stream, in addition to a 3.0-4.875% Cu Stream, on the CSA Mine.