TORONTO (miningweekly.com) – Celebrated Canadian precious metals firm Osisko Mining is aiming to replicate the success of its 9.4-million-ounce Canadian Malartic gold mine discovery – currently Canada’s largest producing gold mine – at its flagship Windfall Lake property, located in the Abitibi greenstone belt of Quebec.
The company relies on its somewhat quirky-yet-imminently-effective strategy called ‘Suds’, which is an acronym for “shut up and drill stupid”, chairperson Sean Roosen told a packed audience of miners and financiers during the recent Prospectors and Developers Association of Canada 2018 convention, in Toronto.
Osisko has had a colourful history, coming full circle from exploration and development, to royalties and financing, and back to exploration and likely development again.
It had left its mark in Canadian mining history after it discovered, financed, built and operated the Canadian Malartic mine against odds heavily stacked against it.
The company has transformed from a junior explorer that made the Canadian Malartic discovery in 2003, to a major gold producer in short order, before being forced to sell the mine to the current 50:50 owners Agnico Eagle Mines and Yamana Gold, because of a hostile bid by major Goldcorp, to gain control of the significant asset in 2014. The company was sold for C$4.3-billion, after an initial offer of C$2.7-billion.