{"id":1139819,"date":"2019-09-23T10:14:30","date_gmt":"2019-09-23T15:14:30","guid":{"rendered":"https:\/\/www.mining.com\/?p=1002626"},"modified":"2019-09-23T10:14:30","modified_gmt":"2019-09-23T15:14:30","slug":"osisko-gold-grabs-barkerville-creates-north-spirit-discovery","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1139819","title":{"rendered":"Osisko Gold grabs Barkerville, creates North Spirit Discovery"},"content":{"rendered":"<p>Canada\u2019s&nbsp;Osisko Gold Royalties (TSX, NYSE: OR) is <a href=\"https:\/\/osiskogr.com\/en\/osisko-gold-royalties-to-acquire-barkerville-gold-mines\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">buying all the shares it doesn\u2019t already own<\/a> in fellow miner Barkerville Gold Mines, in a deal valued at C$338 million (about $255m).<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The Montreal-based miner said each Barkerville<br \/>\nshareholder would receive 0.0357 common share of Osisko for each share of<br \/>\nBarkerville held, implying a value of C$0.58\/share, based on Osisko&#8217;s Sept. 20<br \/>\nclosing price on the Toronto Stock Exchange.<\/p>\n<p>The deal gives it access to Barkerville\u2019s<br \/>\ntouted Cariboo gold project in British Columbia, which Osisko sees as a \u201cpotentially<br \/>\nworld-class asset\u201d with significant infrastructure in place.<\/p>\n<p>\u201cOsisko and Barkerville will take advantage of their combined mine building, exploration, permitting, development and construction expertise to advance the Cariboo gold project,\u201d the company\u2019s chief executive chair of the board, Sean Roosen, <a href=\"https:\/\/osiskogr.com\/en\/osisko-gold-royalties-to-acquire-barkerville-gold-mines\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">said in the statement<\/a>.&nbsp;<\/p>\n<p>The company noted it would fund planned work through available liquidity, future revenue from royalties and streams,&nbsp;project&nbsp;debt as well as outside private equity and joint venture (JV) capital through the creation of a new company aimed to become a resource development and finance firm \u2014 the North Spirit Discovery Group.<\/p>\n<p>Earlier this month, the miner announced it was buying fellow Canadian Stornoway Diamond, which has <a href=\"https:\/\/www.mining.com\/stornoway-diamond-halts-open-pit-operations-quebec-mine\/3317\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">filed for bankruptcy protection<\/a>.<\/p>\n<p>Osisko also announces the creation<br \/>\nof North Spirit Discovery Group, which aims to become a leading resource<br \/>\ndevelopment and finance company with the assistance of joint venture partners<br \/>\nand\/or private equity capital.<\/p>\n<p>Osisko, formed in 2014, is a<br \/>\nroyalty company, which means that it seeks agreements giving it the right to a<br \/>\nshare of income from mines operated by other companies.<\/p>\n<p>Its primary focus is the North American precious metal offtake market, with more than 135 royalties and a portfolio of resource companies such as a 16.6% interest in Osisko Mining Inc. and a 19.9% interest in Falco Resources Ltd.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s is buying all the shares it doesn&rsquo;t already own in fellow miner Barkerville Gold Mines, in a deal valued at C$338 million (about $255m).<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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