Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
MONTREAL, CANADA–(Marketwire – Sept. 29, 2011) – OREX EXPLORATION INC. (TSX VENTURE:OX)(FRANKFURT:O5D) and OSISKO MINING CORPORATION (TSX:OSK)(FRANKFURT:EWX) would like to inform shareholders that Osisko has terminated its option to acquire an interest in the Goldboro Gold Property in Nova Scotia. As per the terms of the agreement entered into in 2009, Osisko had to incur exploration and development expenditures in the aggregate amount of at least $3,500,000 on or before today, September 29, 2011. The management of Osisko informed Orex that this threshold had not been reached after the most recent drilling campaign earlier this year, and that Osisko would not be continuing further exploration or development work at Goldboro. Hence, the option granted to Osisko has expired.
