Opinions
Philippe Capelle
Osisko Mining
OSK-T
HOLD
Sep 12, 2013
$4.780
Stock price when the opinion was issued
metal mines
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COMMENT
Last year, these shares were absolutely on fire. This company is run by Sean Rosen, who is basically exposed to every big gold camp in Canada, and is extremely aggressive as an explorationist. If you like the Canadian exploration business, you have to own this. Understand that an extremely aggressive exploration play requires a lot of money, so this is not for the faint of heart.
Mining
TOP PICK
They have a good project in Quebec that's beaten expectations in grade and size. This will probably yield 250K-300K ounces, and will likely raise the money they need. This project has a million metres drilled into it in the past five years. Confidence continues to grow for this project with underground work to get samples, but can also be used later for use as a mine. This saves capital upfront. (Analysts’ price target is $4.96)
Mining
PAST TOP PICK
(A Top Pick Mar 03/20, Down 6%) Operate a Quebec mine which coming along, and produces 6 million high-grade ounces underground. They're targeting September for their resource update, and the feasibility study in 2022. The right people are in place. He thinks there's more exploration to come in this mine. He used to own this through a fund and wants to get back into it.
Mining
Reality is that most of the drop is linked to the drop in price of gold. Longer ramp up of mine than they expected, so the key is for them to pricing back the grades to what they expected. Higher risk when it is all one asset.