UPDATE 1-Osisko buys 9 pct stake in Threegold
Thu May 19, 2011 1:19pm GMT
TORONTO May 19 (Reuters) - Threegold Resources (THG.V: Quote) said on Thursday Canadian gold miner Osisko Mining (OSK.TO: Quote) has acquired a 9.2 percent stake in the company through the purchase of shares in the open market.
Osisko, which recently poured its first gold bar at its Canadian Malartic mine in Quebec, earlier this year signed an option-in agreement, which allows it to earn up to a 70 percent interest in Threegold's Standard Gold property in the Abitibi region of Quebec.
The Standard Gold property includes the past-producing Standard Gold mine, which operated intermittently between 1935 and 1953, producing an unknown quantity of gold. (Reporting by Euan Rocha)
