Osisko Development (TSX.V: ODV)
Announced an agreement with Nicola Mining to toll treat ore from their Barkerville Gold subsidiary at NM’s processing facility located at Merritt, B.C.
Merritt is around 6 hours driving distance from the Barkerville Gold project in the Cariboo region of British Columbia.
.
.
.
.
.
.
Osisko Development | TSX.V: ODV |
Stage | Development and exploration |
Metal | Gold |
Market cap | C$472 m @ C$6.75 |
Location | B.C. Canada, Sonora and Guerrero, Mexico |
.
.
.
Osisko Development’s Barkerville Gold Mines in Toll Milling Accord with Nicola Mining for Cariboo mill feed.
.
.
Vancouver, British Columbia–(Newsfile Corp. – December 2, 2022) – (FSE: HLI) (OTCQB:Nicola Mining Inc. (TSXV: NIM) is pleased to announce that it and Osisko Development Corp (NYSE: ODV) (TSXV: ODV) (“Osisko”) have signed a Memorandum of Understanding (“MOU“) for the processing of gold mill feed currently stock piled at Osisko’s site, located in the Cariboo Mining District in east-central BC, east and southeast of the City of Quesnel. The gold mill feed originates from Osisko’s wholly owned subsidiary Barkerville Gold Mines Ltd[1].
Under the MOU, Osisko hopes to transport approximately 15,000 tonnes of mineralized material to Nicola’s mill site, located near Merritt, British Columbia. Nicola’s Merritt Mill site is a unique milling and processing facility because the Company owns the industrial-zoned site free-hold. The approximate $30.0 million facility is also the location of the historic Craigmont Copper Mine, which had an historic production grade of 1.3% Cu.
Both parties have already commenced cooperative efforts and expect to enter into a Milling Profit Share Agreement in the near future. Concentrate from the mill feed is expected to be sold to Ocean Partners UK Limited[2], with whom the Company announced on April 30, 2021, that it entered into a purchase contract (the “Purchase Contract”) for gold and silver concentrate.
.
Nicola’s Merritt Mill is the only facility in the Province of British Columbia permitted to accept third party gold and silver mill feed from throughout the province.
.
.
Peter Espig, CEO of Nicola, commented;
“We are very excited to secure another solid source of gold mill feed.
“We have been very impressed with the Osisko team and look forward to moving forward in a mutually beneficial relationship.
“Furthermore, we want to thank the Ministry of Energy, Mines and Low Carbon Innovation for its facilitation of an introduction.”
,
,
.
.
=======
If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
=======
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.
.
Disclaimer
The writer does not hold any shares in Osisko Development at the time of writing.
.