News Bulletin

Osisko Announces Friendly Take Over Bid For Brett Resources

Tuesday, 30 Mar 2010

Osisko Mining Corporation and Brett Resources Inc. have announced a definitive support agreement pursuant to which Osisko will offer to acquire all of the issued and outstanding common shares of Brett Resources. The offer of 0.34 Osisko shares for each Brett share represents a premium of 52% on a 20day VWAP, valuing the target at $372 million.

Following this transaction Osisko will take control of the Hammond Reef Gold Project is projected to produce more than 5Moz of gold at average cash costs of US$442per oz including royalties and silver credits. The Hammond Reef Project currently has an inferred resource of 6.7Moz at 0.8 g/t Au which values the transaction at US$55 per resource oz.

Soucre: Osisko Mining Website 2010

     

                   Follow us on

    http://www.facebookloginhut.com/facebook-login/        http://www.facebookloginhut.com/facebook-login/

     

     

    Support

    Phone: +61 8 9486 9557
    Fax: +61 8 9486 7011
    Email: enquiries@minesonline.com