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O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) is a gold explorer and mine developer in Québec, Canada. With a focus on becoming a gold producer, the company owns multiple multi-million-ounce deposits. President and CEO, Mr. José Vizquerra, leads a team of industry experts fostering growth and success. Recent achievements include an infill drilling campaign on the Norlartic Extension and Malartic H areas, showing high-grade intercepts and mineralization. O3 Mining's projects, like Horizon, Marban, and Norlartic Extension, exhibit significant exploration potential and positive results, ensuring a prosperous future.
Agnico Eagle Mines has launched a friendly all-cash offer to acquire O3 Mining for $1.67 per share, representing a 58% premium to O3's closing price on December 11, 2024. The offer has received unanimous recommendation from O3 Mining's Board and Special Committee, with shareholders representing 39% of outstanding shares already supporting the deal through lock-up agreements. These supporting shareholders include all directors and officers, Gold Fields , Extract Advisors , and certain Franklin Templeton managed funds. Shareholders must tender their shares by January 23, 2025 at 11:59 p.m. EST to participate in this offer.
Agnico Eagle Mines and O3 Mining have announced Gold Fields' support for their takeover bid, where Agnico Eagle offers to acquire all outstanding O3 Mining shares for $1.67 per share in cash. This represents a 57% premium over O3 Mining's 20-day volume-weighted average price on TSX Venture Exchange ending December 11, 2024.
Gold Fields, O3 Mining's largest shareholder with approximately 17% ownership, has agreed to a lock-up agreement with Agnico Eagle. Including this agreement, Agnico Eagle has secured lock-up agreements with shareholders owning about 39% of outstanding shares, including all directors and officers. The offer has received unanimous recommendation from O3 Mining's Board of Directors and Special Committee.
Agnico Eagle Mines (NYSE: AEM) has announced a definitive agreement to acquire O3 Mining in an all-cash transaction valued at approximately $204 million. The offer price of $1.67 per share represents a 57% premium to O3 Mining's 20-day volume-weighted average price as of December 11, 2024.
The primary asset in this acquisition is O3 Mining's Marban Alliance property near Val d'Or, Quebec, adjacent to Agnico Eagle's Canadian Malartic complex. The Marban deposit contains indicated mineral resources of 52.4 million tonnes grading 1.03 g/t gold (1.7 million ounces) and inferred resources of 1.0 million tonnes grading 0.97 g/t gold (32,000 ounces).
The transaction has received unanimous board recommendation and support from shareholders representing 22% of outstanding shares. The offer will remain open until January 23, 2025.
Agnico Eagle Mines has announced a definitive agreement to acquire O3 Mining through an all-cash offer of $1.67 per share, representing a 58% premium to O3's closing price on December 11, 2024. The transaction, valued at approximately $204 million, has received unanimous recommendation from O3 Mining's Board and Special Committee, with support from shareholders representing 22% of outstanding shares.
The primary asset in this acquisition is O3 Mining's 100%-owned Marban Alliance property near Val d'Or, Quebec, adjacent to Agnico Eagle's Canadian Malartic complex. The Marban deposit contains indicated mineral resources of 52.4 million tonnes grading 1.03 g/t gold (1.7 million ounces) and inferred resources of 1.0 million tonnes grading 0.97 g/t gold (32,000 ounces).
O3 Mining has launched an 8,000-metre drilling campaign at the Kinebik Project along the Casa Berardi trend. Two drill rigs have been mobilized to the Cameron and Florence sectors. The project covers 47,510 hectares and extends over 55 km along the auriferous Casa Berardi trend in the Abitibi Greenstone Belt. Historical drilling intercepts include 2.2 g/t Au over 13.8 m and 5.3 g/t Au over 5.5 m at Cameron Main, and 6.6 g/t Au over 4.7 m and 13.7 g/t Au over 5.0 m at the Desjardins property. The project is accessible year-round and is situated near major gold deposits including Casa Berardi (+5.0M oz Au), Douay (3.0M oz Au), and Vezza (0.3M oz Au).
O3 Mining has announced the final assay results from its 28,868-metre drilling campaign at the Malartic H deposit within the Marban Alliance project in Val-d'Or, Québec. Key highlights include intersections of 30.0 g/t Au over 3.0 metres, 40.2 g/t Au over 1.9 metres, and 1.8 g/t Au over 39.8 metres. The campaign, completed between January and August 2024, comprised 143 drill holes aimed at upgrading inferred mineral resources to indicated category. The Malartic H deposit spans 950 metres in strike length, 300 metres in width, and extends to a 500-metre vertical depth.
O3 Mining has acquired the Lac Esther Property from Midland Exploration, expanding its Kinebik Project along the Casa Berardi trend. The transaction was completed for a cash consideration of C$75,000, with Midland retaining a 2.0% net smelter return royalty. O3 Mining has the option to repurchase 50% of the NSR for C$500,000 and holds a right of first refusal on any sale of the NSR. This acquisition strengthens O3 Mining's presence in the Casa Berardi trend and aligns with their core exploration strategy to explore major geologic faults in Québec.
O3 Mining announces plans to complete a Preliminary Economic Assessment (PEA) on its Marban Alliance project in Val-d'Or, Québec, with results expected in Q4 2024. G Mining Services will lead the PEA, which will highlight advancements made since the August 2022 Prefeasibility study. The company plans to commence a Feasibility Study in early 2025, with results expected in H2 2025. Environmental baseline studies are set to complete in Q1 2025, followed by Impact Studies starting in Q2 2025. The project optimization includes improvements to mining and processing parameters, resource conversion of current pits, and integration of new satellite deposits like Malartic H.
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) has announced a normal course issuer bid (NCIB) to purchase and cancel up to 8,252,733 of its common shares, representing approximately 10% of the company's 'public float'. The TSX Venture Exchange has approved the NCIB, which will run from October 23, 2024, to October 22, 2025. O3 Mining has engaged CIBC World Markets Inc. as its agent for the NCIB transactions.
The company believes that its shares are currently trading at a price that does not adequately reflect their value. Management views the share repurchase as a desirable use of available cash that will enhance shareholder value. The purchase and payment for the shares will be made at market price through the Exchange facilities, and all repurchased shares will be cancelled.
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) has announced three new agreements for marketing and market-making services:
- A marketing consulting services agreement with Spark Newswire Inc., starting October 10, 2024, for an initial three-month term at US$100,000 per month.
- A market-making services agreement with Independent Trading Group (ITG), Inc., beginning October 10, 2024, for a monthly fee of $7,000.
- An agreement with Streetwise Reports to create and host a Company Profile Page, starting October 15, 2024, for a three-month term at US$17,000.
These engagements aim to increase investor engagement, market awareness, and ensure continued liquidity for O3 Mining's common shares. None of the service providers will receive shares or options as compensation, and they are unaffiliated with the
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