Osisko Mining, the Canadian company, has agreed to buy a 9.2% stake at fellow junior developer Queenston for US$ 42.3 million, raising its total shareholding at the latter to 46%. The stake was bought from Agnico-Eagle, which will no longer hold any Queenston shares.
Queenston’s main asset is the Upper Beaves project, which is believed to contain indicated resources of 1.5 million ounces of gold. A feasibility study for the project is planned for December 2013.