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Osisko Gold Royalties Announces First Gold Pour at the Eagle Gold Mine

Mining News - Published on Fri, 20 Sep 2019

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Osisko Gold Royalties Ltd announced that Victoria Gold Corp has poured first gold at its Eagle gold mine following the recently announced completion of construction and transition to operations. Eagle is expected to produce approximately 200,000 ounces of gold annually at an all-in sustaining cost of less than USD 750/oz. Sean Roosen, Chair and CEO of Osisko said "Congratulations to the Victoria team, led by John McConnell, for having delivered Canada's newest gold mine. The Eagle mine will deliver substantial benefits to the government of Yukon, the area's First Nations communities and other stakeholders. Osisko is also pleased to have one of its accelerator company investments reach production stage."

Osisko owns a 5% net smelter return royalty on Eagle which it acquired in April of 2018 as part of a comprehensive CAD 505 million project financing package that helped launch the construction of the project. The Eagle Royalty will provide Osisko with an average of 10,000 ounces of gold annually over the projected 10-year mine life of Eagle. The Dublin Gulch property also provides excellent growth potential through the addition of the Olive deposit and further exploration.

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Posted By : Rabi Wangkhem on Fri, 20 Sep 2019
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