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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: kayco2/4/2009 12:04:52 PM
   of 78419
 
OSK - Any opinions on whether this is a good buy at this point and it is time to load up. They have raised around $CDN350KK. They probably have a minimum of 8KK oz between the 2 ore bodies. The share base has been diluted but Que. gov. will match their investments at a certain percentage. The stock is down around $0.88 at this point. They will probably not have to borrow to put the mine into production. Below is section from their news release:

"Underwriters have agreed to buy 77,000,000 units (the "Units") from Osisko on a bought-deal basis and sell them to the public at a price of C$4.55 per Unit. Each unit will consist of one common share and one-half common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of C$5.45 until November 17, 2009.

The Company has also granted to the Underwriters an over-allotment option to purchase an additional 11,550,000 Units at the same price, exercisable in whole or in part, for a period of 30 days on or following the closing date."

Any one any suggestions re what putting OSK into production will do to other mines in area re costs. Assume OSK will drive up labor costs in the area or this is not a problem.
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