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Osisko Metals is advancing the giant Gaspé copper project in Quebec with an economic study planned for February amid efforts to land a 20% partnership with provincial financing agency Investissement Québec.
The resource contains 3.2 billion lb. copper, 180 million lb. molybdenum and 27.9 million oz. silver. It could be shovel-ready in early 2029 after acquiring permits by the end of 2028, said the CEO, who was part of the developers of the Canadian Malartic gold mine. That producer, now held by Agnico Eagle Mines , is vying to be Canada’s largest.
Then last month the South African major took out the whole company for $1.6 billion. Wares is keen to avoid share dilution from stock offerings or taking on debt that might want the whole project as collateral. In June, Osisko reported a tripling of Pine Point indicated tonnes to 49.5 million grading 4.22% zinc and 1.49% lead in combined open pit and underground resources. Inferred resources total 8.3 million tonnes grading 4.22% zinc and 1.69% lead .
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