Osisko Development Disposes 7.7% Equity On Minera Alamos For $18.5 Million

Osisko Development (TSXV: ODV) announced on Friday that it has disposed of a number of Minera Alamos (TSXV: MAI) common shares. The transaction was reported to have grossed a total of $18.5 million in proceeds.

The gold firm disposed of a total of 34.29 million common shares it held on Minera Alamos, at a price ranging from $0.50 to $0.57 per share. From owning 17.1% equity, the firm now only holds 9.4% ownership of Minera Alamos shares.

The move is said to be pursuant to “market dispositions performed from October 25, 2021, to December 29, 2021.”

Minera Alamos president Doug Ramshaw said in a tweet that he’s “happy to move on with this in our [rearview] mirror,” and seemingly took a jab at the firm by suggesting the transaction’s proceeds could’ve financed 1-2 mines.

In November 2021, Minera Alamos poured the first gold at its Santana mine in Mexico, five months after it began operations at the site.

Osisko Developments last traded at $4.18 while Minera Alamos last traded at $0.55 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. 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.

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