Canadian Mining Journal

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GOLD: Kirkland Lake boosts Osisko Mining stake



Grades continue to increase at depth on the Macassa gold mine. (Image: Kirkland Lake Gold)

TORONTO – Kirkland Lake Gold announced this week that it had acquired approximately 14.7 million common shares of Osisko Mining for a price of $1.70 per share or $25 million.

Kirkland Lake now holds about 32.6 million Osisko Mining shares or 13.61% of the company. Prior to this investment, Kirkland Lake held 17.9 million shares or 8.58% of Osisko Mining.

Kirkland Lake considers its ownership of juniors active in the Urban Barry area of northwest Quebec to be a long term holding. It also had interests in Metanor Resources and Bonterra Resources.

Visit www.KLGold.com to learn about Kirkland Lake’s flagship Macassa gold mine in Ontario and its Fosterville gold mine in Australia.