Osisko provides Update following Temporary Suspension of Operations at the Canadian Malartic Mine
MONTRÉAL, March 25, 2020 — Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) announces today that following the announcement by Agnico Eagle Mines Limited and Yamana Gold Inc., the operators of the Canadian Malartic Mine, operations at the Canadian Malartic Mine will be ramped down and placed on care and maintenance until April 13, 2020. As instructed, minimal work will take place during that time, in compliance with the most recent Québec Government order in an effort to contain the COVID-19 virus outbreak.
Sean Roosen, Chair and Chief Executive Officer of the Company declared: “Given the outstanding pandemic, we support Agnico, Yamana and all other mine operators in their efforts to put the health and safety of their work force first with a view to contain the virus and thereby “flatten the curve” as explained by public health authorities across the world. While Osisko’s business will be impacted by these measures as metal deliveries and revenues will be temporarily deferred, we are confident that operators will be in a position to progressively resume normal operations when deemed appropriate by Government authorities.”
In a context of rapidly evolving news on COVID‑19, Osisko is monitoring the situation closely and will provide an update as soon as possible on restart of operations.
About Osisko Gold Royalties Ltd
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 135 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada. Osisko also owns the Cariboo gold project in Canada as well as a portfolio of publicly held resource companies, including a 15.9% interest in Osisko Mining Inc., 17.9% interest in Osisko Metals Incorporated and a 19.9% interest in Falco Resources Ltd.
Osisko’s head office is located at 1100 Avenue des Canadiens-de Montréal, Suite 300, Montréal, Québec, H3B 2S2.
For further information, please contact Osisko Gold Royalties Ltd:
Tel. (514) 940-0670