Osisko posts a loss; achieves its first gold pour
Osisko Mining reported on Friday a loss of Can$5.3 million in the first quarter. The company said that the higher loss incurred is due to high administrative costs reflecting the growth in the company's activities, high non-cash charges from the issuance of stock options in the third quarter of 2010 and lower foreign exchange gain.
In the same period in 2010 the company reported a loss of $600,000.
Sean Roosen, president and CEO of Osisko, said the company achived some significant achievements.