Monday, August 4, 2025

Latest

Gold Fields To Take 50% Stake in Osisko’s Windfall Gold Project For $600 Million

Osisko Mining (TSX: OSK) has found a joint venture partner for its Windfall gold project found in the Abitibi greenstone belt in Quebec.

The arrangement will see Gold Fields (NYSE: GFI) take a 50% stake in the Windfall project, agreeing to pay upwards of $600 million for its stake in the project, plus additional exploration spend of up to $75 million.

An initial cash payment of $300 million is to be made on signing, with $300 million in additional cash to be paid on issuance of permits for construction, operation, and mining of the project.

“This partnership further strengthens our strong balance sheet, allows us to significantly de-risk Windfall and brings us a very important step closer to realizing our objective of becoming a leading Canadian gold producer. With the proceeds from this Transaction, Osisko is fully-funded for our share of development capital to bring Windfall into production,” commented John Burzynski, CEO of Osisko.

Gold Fields under the terms of the arrangement is to also share all pre-construction costs and construction costs on a 50/50 basis going forward. With total pre-construction and construction costs estimated at $1,039 million, its expected that all-told, Gold Fields will invest approximately $1.2 billion into the Windfall project.

The Windfall project, found between Val-d’Or and Chibougamau, Quebec, currently has a resource estimate of 297,000 ounces of measured gold at 11.4 g/t, 3.75 million ounces of indicated gold at 11.4 g/t, and 3.3 million ounces of inferred gold at 8.4 g/t. The project also has reserves of 3.2 million ounces of probable gold at 8.06 g/t.

Osisko Mining last traded at $3.77 on the TSX.


Information for this briefing was found via Sedar and Osisko Mining. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

San Dimas: First Majestic Silver’s Sleeper Asset

New Gold Q2 Earnings: Record Free Cash Flow

STLLR Gold: The Tower Gold PEA

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

SPAC Osisko Green Eyes US$250 Million IPO

Special purpose acquisition company Osisko Green Acquisition Ltd. announced Tuesday that it has filed a...

Wednesday, July 14, 2021, 07:38:53 AM

The Abitibi Greenstone Belt: One of the World’s Richest Gold Regions

For investors who like to participate in the mining sector, and junior mining in particular,...

Saturday, July 25, 2020, 08:30:00 AM

Yamana Gold To Be Acquired By Gold Fields For US$6.7 Billion

Consolidation is beginning to get underway within the gold space amongst producers. This morning it...

Tuesday, May 31, 2022, 08:19:50 AM

Osisko Mining Conducts $150 Million Bought Deal Financing

Things are heating up again in the Canadian resource space, particularly in the gold sector....

Monday, June 1, 2020, 08:37:36 AM

Galiano Gold Produces 50,421 Ounces In Q2 2021

Galiano Gold Inc. (TSX: GAU) shared today its quarterly production results for Q2 2021 at...

Thursday, July 15, 2021, 05:31:00 PM