Osisko Metals Incorporated
Osisko Metals holds 100% of the past-producing Gaspe Copper mine near Murdochville, Quebec, acquired from Glencore in July 2023 -- the largest undeveloped copper-molybdenum deposit in eastern North America. An updated Mineral Resource Estimate announced 14 April 2026 raised Gaspe to 1.83 billion tonnes at 0.32% CuEq Measured & Indicated plus 239 million tonnes at 0.46% CuEq Inferred, superseding the November 2024 estimate of 824 Mt Indicated and 670 Mt Inferred. Continued infill and expansion drilling through 2026 has returned wide intercepts including 312.5 m at 0.56% Cu with 4.89 g/t Ag, 320 m at 0.38% Cu and 256 m at 0.85% Cu. A Preliminary Economic Assessment, previously guided for mid-2026, had still not been published as at 19 September 2026; a potential mine restart is targeted for the early 2030s.
Lifecycle Milestones
Not in place: mill, tailings facility.
Jurisdiction (40%)9/10
Quebec: Fraser PPI 2025 is 79.39 of 100 (rank 23 of 68), which maps to 9 on this site's scale. Québec, Canada — top-tier, low political-risk mining jurisdiction.
Infrastructure (40%)5.7/10
No confirmed mill, confirmed road access, confirmed grid power, and no confirmed tailings facility at Gaspé Copper Project, Murdochville, Québec.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Niobec (Magris Performance Materials Inc.), 416 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score:8.9/10
Glencore Canada Corporation holds 11.9% (reported 28 Jul 2026); 1 other producer also on the register See holders
An operating producer's stake scores 8 at 5%, rising to 10 at 20% (the take-over-bid threshold) and holding there up to 50%.
Weight 25% · 34% here - Distance to a producing mineSub-score:0/10
Nearest producing mine: Niobec (Magris Performance Materials Inc.), 416 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 31% here - Lifecycle stageSub-score:3.5/10
Stage: Resource Definition
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 20% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 9% here - CommoditySub-score:8/10
Primary commodity: Copper
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 6% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Geologist credited with the discovery of the Canadian Malartic deposit, developed by Osisko Mining Corporation into one of Canada's largest gold mines before its sale. A concrete example of a geologist whose discovery track record carried directly into building and exiting a major mining company.
Executive Chairman of Osisko Metals Incorporated. Geologist with 35+ years in mining exploration. Co-founder of Osisko Mining Corp., leading the discovery and sale of the Windfall Gold project to Gold Fields for C$2.2 billion, and earlier helped develop the Canadian Malartic mine (sold 2014 for C$3.9 billion). PDAC "Prospector of the Year" (2007, 2024); Northern Miner "Mining Man of the Year" (2009). B.Sc. Geology (Mount Allison), M.Sc. MINEX (Queen's); P.Geo. Québec; Fellow, Royal Canadian Geographical Society.
President of Osisko Metals Incorporated. Former Chief Operating Officer at Osisko Mining Inc. Previously director, St. Andrew Goldfields; Managing Director Global Mining, Scotiabank (2010-2014); investment banker, Toll Cross Securities (2005-2010). Over 30 years' mining industry experience, starting in 1989 at Hudson Bay Mining & Smelting. B.S. Mining Engineering (Michigan Tech); B.A. (University of Manitoba).
Chief Operating Officer of Osisko Metals Incorporated. (P.Geo.) 40 years' exploration and mining experience. Spent 19 years with Noranda/Falconbridge across multiple operations; Senior Scientist, Noranda Technology Centre (2002). Ten-year consulting tenure supporting junior companies, including work with Champion Iron Mines on resource development and feasibility studies. B.S. Geology (University of New Brunswick). Director, Brunswick Exploration and Kobo Resources Inc.
Chief Financial Officer of Osisko Metals Incorporated. Former CFO, Osisko Mining Inc. Chartered professional accountant with 20+ years in Canadian public practice managing Toronto Stock Exchange, TSX Venture Exchange and Canadian Securities Exchange audits. CPA designation (2003); dual B.A. degrees in Accounting and Economics (Brock and Western Universities). Director, STLLR Gold Inc.
Vice President, Finance of Osisko Metals Incorporated. Former VP Finance, Osisko Mining Inc. Chartered professional accountant with 15+ years' mining industry and audit/assurance experience. CPA designation (2013); B. Accounting Honours Co-Op (Brock University). Director, Metalla Royalty & Streaming Ltd.
Vice President, Environment and Sustainable Development of Osisko Metals Incorporated. Civil engineer with a doctorate in Mining Environment (Laval University, 2001). 25+ years' mining industry experience as a consultant for geotechnical, water management, hydrogeology and environmental projects. Involved in development planning for multiple mining projects and R&D initiatives with Nouveau Monde Graphite, Troilus Gold and Mason Graphite.
Vice President, Corporate Secretary of Osisko Metals Incorporated, in the role since 2018. Former VP Corporate Secretary, Osisko Mining Inc. 30 years' experience in financial, wealth management and resource industries in legal and compliance roles, including 18 years with the Dundee group in senior legal and compliance positions. Member, Institute of Corporate Directors and Governance Professionals of Canada (since 2004).
Vice President, Special Projects of Osisko Metals Incorporated; also a director of Angel Wing Metals Inc. Former VP Project Coordination, Osisko Mining Inc. Professional geologist registered in Ontario with 15+ years' progressive senior-level international experience. B.S. Honours (University of Toronto); MBA (Schulich School of Business).
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Two majors sit on this register at once. Agnico Eagle has been actively accumulating -- four open-market purchases in the last twelve months totalling roughly US$69M, including 21.5 million shares bought directly from Glencore on 27 Jul 2026, plus a C$12.48M placement subscription taken up under a contractual participation right. Glencore Canada itself still holds about 11.9% after that sale, down from 14.3%. CEO John Burzynski has also been buying repeatedly, though other insiders have sold.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Osisko Metals owns 100% of the past-producing Gaspé Copper mine near Murdochville, Québec, which it acquired from Glencore in July 2023 and describes as the largest undeveloped copper resource in eastern North America. An updated resource estimate announced on 14 April 2026 contains 1.83 billion tonnes at 0.32% copper equivalent in the measured and indicated categories, plus 239 million tonnes at 0.46% copper equivalent inferred. Infill and expansion drilling has continued through 2026, with intercepts including 312.5 m at 0.56% copper and 4.89 g/t silver. A preliminary economic assessment, earlier guided for mid-2026, has not yet been published, and a potential restart of the mine is targeted for the early 2030s. In September 2026 Osisko Metals announced plans to move its non-core New Brunswick exploration properties into a new company, Osisko Critical Minerals Corporation, in which it would keep a minority interest.
Osisko Metals' April 2026 corporate presentation for the Gaspe Copper Project (Quebec): updated Measured+Indicated resource of 1,834 Mt @ 0.27% Cu (10.8 billion lb contained copper). PEA deferred pending further drilling -- no NPV/IRR/mine-life yet.