Osisko Metals (TSXV: OM; US-OTC: OMZNE) is progressing its Gaspé copper project in Quebec with C$100 million ($69.5m) in new financing and a board now featuring industry heavyweight John Burzynski.
The new team re-unites Burzynski, whose separate Osisko Development sold its Windfall gold project this year to South Africa’s Gold Fields (NYSE: GFI; JSE: GFI), with Osisko Metals CEO Robert Wares. They were behind the development of Canadian Malartic into one of the country’s largest gold mines.
“They’ve delivered significant shareholder returns,” Kimberly Darlington, communications director for Osisko Metals, told The Northern Miner’s International Metals Symposium in London Dec. 1-2. “What we think is most interesting here is the great increase in copper demand that’s [going to be] coming from building the grid.”
Last month, Osisko Metals increased the Gaspé project’s indicated resource copper-equivalent metal content by 53% and doubled the copper-equivalent metal content in its inferred resources.
Watch Darlington’s full London presentation:
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