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UPDATE: Osisko Previews Q4 2012 Canadian Malartic Operating Results; Guides 2013; Stock Hikes 4%

By: MT Newswires
Posted: 1/24/2013 11:35:00 AM
Referenced Stocks:

Osisko Mining Corporation (OSK.TO) said during the fourth quarter, it processed 4,088,021 tonnes at the Canadian Malartic mill at a grade of 0.87 g/t Au and recoveries of 88.8%. Fourth quarter gold production totaled 101,544 ounces, bringing the gold production for the year to 388,478 ounces.

The company has also provided its operating guidance for 2013, with gold production of between 485,000 and 510,000 ounces, direct cash costs of between $780 to $825 per ounce, and capital expenditures of $220 million.

OSK went up by nearly 4% to $7.32, trading close to year low $6.25.