it had completed the C$1.93 billion acquisition of Osisko Mining, which makes it the sole owner of the Windfall project and the surrounding exploration district in Québec, Canada.
Analysts have pointed that Gold Fields paid a premium for Osisko mainly to acquire a high-quality project and prevent being outbid for a growth asset in a strongly supportive gold market. SeveralGold Fields’ top executive said the company’s financial position was anticipated to strengthen further, thanks to cash flow growth projected for the remainder of the year and into 2025, driven by increased production volumes at various operations.
The asset holds an estimated 3.2 million ounces gold in 12 million tonnes at 8.1 grams gold per tonne in proven and probable reserves. Further exploration could extend the project’s lifespan, adding more long-term value, the company says.