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.
Osisko Gold (TSE:OSK) increased its ownership of NioGold Mining (TSX-V:NOX) to 19.5% on Friday after announcing $4.9 million financing.
Osisko acquired 14 million flow-through common shares of NioGold price at 35 cents per share.
In addition, Osisko has acquired, for an aggregate purchase price $150,000, NioGold’s rights to repurchase a portion of the royalties on certain of NioGold’s claims.
NioGold also announces that Sean Roosen and John Burzynski have joined the Board of Directors of NioGold.
NioGold Mining Corporation is a mineral exploration company focused on gold. The company’s flagship projects are located in the Cadillac – Malartic – Val-d’Or region of the prolific Abitibi gold mining district, Quebec.
