BMO Conference: Osisko Will Be Involved In Québec Tax Discussions

Tuesday, February 26, 2013 11:20 AM

Osisko Mining Corp. (TSX: OSK) will take part in meetings with the Québec provincial government over the next 5-6 weeks regarding a proposed tax hike on mining royalties. “We’re going to try and help the PQ (Parti Québecois) see that this might not help bring investment into the province,” says Sean Roosen, president and chief executive officer of Osisko. “Historically, the PQ has been mining friendly. They’re the ones that initially brought taxes down to 12% from 18% all those years ago. The Liberal party were the ones that raised them back up to 16%.” Roosen also took the time to address the company’s timing of the acquisition of Queenston Mining Inc. during last year’s fourth quarter. “It’s like the nicest cottage on the lake that’s in a family for seven generations and it goes up for sale for just one day,” Roosen said. Roosen compared Queenston’s projects to the company’s Canadian Malartic project, which produced 101,544 ounces of gold in the fourth quarter.

By Alex Létourneau of Kitco News; aletourneau@kitco.com