Source: The Gold Report 05/08/2009

"TGR: What smaller companies do you currently own and like in the gold area?

WI: Getting back to my theme of good-quality juniors that are expanding their resources, some of the names I like on the gold side are Osisko Mining Corp. (TSX:OSK), Queenston Mining Inc. (TSX:QMI) and Colossus Minerals Inc. (TSX:CSI) . They all have some pretty nice stories. I think Osisko is just a great story. I saw the property last fall and just to give you a sense of the lack of excitement about it then, I was the only person on the tour. I really liked what I saw, though—a tremendous deposit in Quebec, which is the best mining jurisdiction in the world. I saw low power costs, access to excellent infrastructure, highly skilled workers readily available locally and a very large, relatively low-grade deposit that I think could be mined very effectively.

When I bought in, Osisko was a bit constrained. A lot of people thought it would be unable to raise the capital to put its property into production. Since then, things have improved and Osisko has raised a lot of money. Once they have their warrants exercised, there's a very good chance they will have all the cash they need to go into production.

The reason I believe Osisko is a good choice from this point forward, despite recent price appreciation, is that it has a 10+ million ounce deposit. It's the type of deposit that majors like and as I mentioned, it's in a tremendous jurisdiction with a lot of cost advantages. Interestingly, within those 10+ million ounces, there appears to be about a 7-million-ounce, relatively high-grade core of between 1.75 and 1.8 grams. Even if the price of gold backs off a little, they're still in a pretty good position to move this project forward.

I think the majors are definitely looking very, very hard at Osisko, the amount of resources they have and the amount of production that can be achieved from that. They are well on their way to moving it forward with an excellent development team.

TGR: What sort of timeline are we looking at, assuming the warrants get exercised?

WI: I believe they'd be looking at nameplate, or full capacity around April 2011 and their first full year of production in 2012. As they move forward with production, they're also expanding their resource base, which makes this a more exciting story every day. They found a new zone called the Barnat Zone that's looking very good. It's adding a lot of higher-grade material to their resources, which is one of the kickers I really like about it."