Kinross dumps $100-million Osisko stake
TIM KILADZE
Globe and Mail Update
Posted on Monday, December 13, 2010 5:24PM EST
Kinross Gold Corp. (K-T 18.46-0.14-0.75%) sold its small 1.8 per cent equity stake in Osisko Mining Corp. (OSK-T 14.96-0.03-0.20%) Monday for just shy of $100-million.
Kinross president and chief executive officer Tye Burt described the position as a non-core holding. This past summer Kinross also sold off its non-core 19.9 per cent interest in Harry Winston Diamond Corp., profiting about $135-million (U.S.).
Well, they aren't the only ones....Franco took out Gold Wheaton today too.
But you know, I've always been curious to know what the movers and shakers at Kinross are thinking about their neighbour to the East that they used to own and knew/know the valuable asset that it is. They probably know as much about SFMI as PQ does ...and there it is just outside their door...in War Eagle Mountain....waiting to expose it's ample bosom of riches. Can you just imagine how losing something so valuable must feel?
