The Northern Miner, first published in 1915, during the Cobalt Silver Rush, is considered Canada’s leading authority on the mining industry.
Northern Gold Mining (TSXV: NGM) is the fourth junior this year to sign a business combination agreement with Oban Mining Corp. (TSX: OBM), joining Eagle Hill, Ryan Gold and Corona Gold, which consolidated their properties in Ontario and Quebec under the Oban banner in September.
“We’d been looking at Northern Gold for a while,” says John Burzynski, Oban Mining’s president and chief executive officer. “It’s been in our area of interest for quite some time and is one of a number of acquisitions that we are looking at doing in the near future.”
Oban Mining’s goal is to consolidate areas in the historic mining camps of the Abitibi and then apply its exploration model to find gold and other metals, a strategy that Burzynski, Sean Roosen and Robert Wares used to great success after they founded Osisko Mining Corp.
Osisko went on to build the Canadian Malartic mine in Quebec, which was sold in 2014 to Agnico Eagle Mines (TSX: AEM; NYSE-MKT: AEM) and Yamana Gold (TSX: YRI; NYSE-MKT: AUY) in a cash and share deal worth $3.9 billion.
Osisko Gold Royalties (TSX: OR), where Roosen serves as chief executive officer and chairman of the board, holds 17%-18% of Oban Mining’s shares. Burzynski is a director at Osisko Gold Royalties and the company’s senior vice president new business development.
“Our full intent is to go back to recreating the success we had with Osisko One, through the discovery and development of good projects,” Burzynski says.
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