Gold mining company Kirkland Lake on Thursday announced that it had disposed of its shareholding in Osisko Mining and that it had reduced its interest in Novo Resources.
The company, which trades in the Toronto, New York and Sydney, sold 32 627 632 common shares of Osisko through the facilities of the TSX at $4.45 a share for total consideration of $145.19-million. Following the disposition, Kirkland no longer holds any shares of Osisko.
In the last week, Kirkland also reduced its shareholding in Novo by selling 538 700 common shares at an average price of $3.52 a share, for a total consideration of $1.89-million. This followed the sale of 210 000 shares at an average price of $3.28 for $689 024 in June.