Barkerville Gold Mine Ltd* (BGM : $0.52), Net Change: 0.05, % Change: 9.47%, Volume: 879,110 Osisko Gold Royalties Ltd* (OR : $14.98), Net Change: -0.41, % Change: -2.66%, Volume: 493,354 ALL TOLD, IT’S ALL ABOUT THE GOLD. Barkerville Gold Mines announced on Monday that it entered into agreement with Osisko Gold Royalties, whereby Osisko has agreed to purchase an additional 0.75% net smelter return (NSR) royalty on BGM’s Cariboo gold project for cash consideration of ~$12.5M. Upon completion of the royalty purchase, Osisko's total NSR royalty will be 2.25%. The grant of the additional royalty will cancel Osisko's royalty right which was granted in an agreement between Osisko and BGM dated Feb. 5, 2016. Osisko will, however, retain a right of first refusal relating to any gold stream offer received by BGM with respect to the Cariboo project. Separately, on Tuesday BGM releases additional results from the continuing 130,000-metre phase II Island Mountain exploration drilling program at Cariboo. The company is currently exploring and delineating Island Mountain with seven drill rigs and has now relocated an eighth rig to the Valley Zone which occurs between Cow and Island Mountains. Some highlights from the results include an intersection of 12.52 g/t Au over 3.70 metres and another intercept of 24.70 g/t Au over 6.60 metres in the same hole. BGM says the program intends to determine the extent of the vein systems that were historically never explored, and is aimed at discovering new vein systems and sulphide replacement bodies that will ultimately inform a maiden resource.
Canaccord Morning Coffee – Wed. Mar 29, 2017
