Osisko’s 2013 Gold Production a New Record

Osisko Mining Corp. (TSX:OSK) announced yesterday its results for the fourth quarter of 2013, commenting that its net earnings came to $10.5 million, slightly lower than the $12.9 million it recorded in the year-ago quarter. In addition, it achieved record quarterly gold production of 137,321 ounces.

For 2013 as a whole, Osisko put out 475,277 ounces of gold, also a new record for the company.

Other Q4 highlights include:

• Earnings from Canadian Malartic of $53.7 million;
• Operating cash flows of $72.5 million;
• Net earnings of $10.5 million or $0.02 per share;
• Investment of $25.2 million in mining assets and projects;
• Tonnage processed at 4.6 million tonnes (average of 54,043 tonnes per operating day).

Further 2013 highlights include:

• Delivered on capital expenditure reduction program over $96 million less than 2013 budget;
• Enhanced flexibility as a result of amendments concluded with lenders;
• Cash resources now stand at $210.5 million;
• Net debt position of $118.7 million at December 31, 2013.

Click here to read the full Osisko Mining Corp. (TSX:OSK) press release.