O3 Mining – A comprehensive overview of this new Osisko Company
While at the Beaver Creek conference I had a number of people tell me to chat with Jose Vizquerra and get an update on O3 Mining (TSX.V:OIII). Jose is the President and CEO of O3 Mining, which is the latest Osisko Company focused on gold exploration in Ontario and Quebec.
Jose and I discuss how the Company was formed (through spinning out two non-core assets from Osisko Mining) and the two acquisitions that have been completed since inception. We also look ahead to the overall strategy for the Company and how the recent $10million (flow-through funds) will be allocated over the next year.
Please email me with any other question you have for Jose or I regarding O3 Mining. I can be reached at Fleck@kereport.com.
Also keep in mind that (GZZ) (GLVMF) Golden Valley Mines also has a Net Smelter Royalty on the Lac Barry properties that Boneterra Resources (BTR) (BONXF) has adjactent to (OSK) Osisko Mining’s Windfall Lake project.
What simply amazes me is the market is not putting together all the assets that Golden Valley has with it’s 44% stake in Abitibi Royalties, it’s 31% stake in the spin out company Val-d’Or Mining Corporation (VZZ), the NSR on the Sirios Project, etc…
You gotta love market inefficiencies…..
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>> Bonterra Resources Inc. (BTR) – Lac Barry Prospect – Gold Project southwest of the Gladiator deposit (Bonterra) & south of Osisko Mining’s Windfall Lake Gold Project
“Golden Valley granted an option to Bonterra to acquire an 85% interest in the Lac Barry Prospect. In accordance with the option agreement, Bonterra issued to Golden Valley 519,480 common shares in the capital of Bonterra having an aggregate value of $200,000, and Bonterra incurred expenditures in excess of $2,000,000 over a three-year period.”
“Golden Valley now retains a 15% free carried interest in the Lac Barry Prospect and a 3% net smelter royalty (“NSR”), with 1% of the NSR being subject to a buyback in favour of Bonterra for $1 million payable by Bonterra to Golden Valley.”
Developing Quebec’s next Gold Camp – Bonterra Resources (BTR) (BONXF)
July 2019 – Corporate Presentation
Resource expansion in the Urban-Barry Camp (right next to Osisko’s Windfall Lake)
http://btrgold.com/wp-content/uploads/2019/08/BTR-Corporate-Presentation-2019-07-rev-3.pdf
Here is a good map of the Bonterra Uban Barry and Osisko Mining Windfall Lake properties:
https://www.caesarsreport.com/wp-content/uploads/Bonterra-Resources-BTR-Map.jpg
It should be pointed out that Bonterra acquired Metanor and Osisko acquired Beaufield on that map so they are the predominant 2 players.
It should also be noted that Kirkland Lake (KL) just took out another large stake in Bonterra.
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(BTR) (BONXF) Bonterra Resources Announces Closing of $32 million Private Placement
20 Aug 2019
“Sprott Capital Partners LP acted as lead agent on behalf of a syndicate of agents which included PI Financial Corp., RBC Dominion Securities Inc. and Haywood Securities Inc.”
“An insider (as such term is defined under applicable securities law) of the Company, (KL) Kirkland Lake Gold Ltd., has subscribed for 372,000 Units under the Offering (the “Kirkland Subscription”). This Kirkland Subscription constitutes a “related party transaction”
https://ceo.ca/@newsfile/bonterra-resources-announces-closing-of-32-million
It is important to point out that (GZZ) (GLVMF) Golden Valley Mines is the one that had spun out the property to Alexandria Minerals in the first place and retains the Net Smelter Royalty on it, now that O3 Mining has acquired them.
See this recent press release and update from Golden Valley on all their projects and JVs including the Centremaque Prospect:
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>> O3 Mining Inc. (“O3”) (formerly Alexandria Minerals Corporation) – Centremaque Gold Prospect – Gold Project, Val-d’Or, Québec
“O3 may earn an 80% interest in the Centremaque gold project by issuing treasury shares to Golden Valley over a four-year period from date of signing with a total value of $250,000, and by conducting exploration activities totaling $4 million over the same four-year period, of which $250,000 had to be spent in the first year of the option agreement, and an additional $500,000 by the 2nd anniversary (extended to July 31, 2019 and completed). The price of the shares, and therefore the number of shares to be issued, is determined by reference to the market price at the time each tranche is due. A 5,200-metre fall drilling program is planned on the property.”
“O3 recently reported that drilling has commenced in the Centremaque area with the objectives of extending the current mineralization. Two additional drill rigs will be mobilized in the coming weeks on the recently discovered Bulldog zone, which has recently returned important gold values including 10.87 g/t Au over 4.5 meters in hole OAX-18-245 (see Alexandria press release dated December 11, 2018). The Bulldog zone was discovered at the end of 2018 and has seen no follow-up. Mineralization at the Bulldog zone is hosted in strongly sheared and altered porphyry intrusions potentially analogous to Canadian Malartic. See O3 news release dated September 4, 2019 for further information.”
https://www.goldenvalleymines.com/news/2019/september12/