What Osisko Metals does

Osisko Metals Incorporated is a Canadian mineral exploration and development company focused on copper and zinc base-metal assets, listed on the TSX (OM), OTCQX (OMZNF), and Frankfurt (OB51). The company's core business is acquiring and advancing past-producing brownfield assets through drilling-based resource expansion and geological reinterpretation, with the goal of defining economic mineral resources that can be advanced to production, joint venture, or acquisition. It operates two flagship projects: the Gaspé Copper Mine in Murdochville, Quebec (acquired 100% from Glencore Canada Corporation in July 2023), which hosts 1.83 Bt of M&I resources at 0.32% CuEq and represents the largest undeveloped copper resource in eastern North America; and the Pine Point zinc mining camp in the Northwest Territories, advanced through a joint venture (Pine Point Mining Limited) with Appian Capital Advisory LLP since April 2023, where a PEA indicated after-tax NPV of C$602M and IRR of 25%.

The underlying technical capability rests on NI 43-101 compliant mineral resource estimation, drilling-based resource expansion, and proprietary geological modeling of porphyry copper-skarn and stratabound zinc systems. Osisko has drilled approximately 160,000 metres in 238 holes between 2022 and 2025 (against a historical database of 570,422 metres in 2,555 holes from prior operators), supported by 208,043 samples. The company also runs a Deep Porphyry Exploration Project (DPEX) targeting porphyry Cu-Mo mineralization at 1000-1200m depth.

The business model is pre-revenue: Osisko does not sell products to end customers and has no operating revenue. Capital is raised through private placements, flow-through share offerings, and strategic investor partnerships — including a C$107.4M placement (December 2024), a C$32.5M strategic placement with Hudbay Minerals, Agnico Eagle Mines, Franco-Nevada, and CDPQ (December 2025), a C$12.5M follow-on from Agnico Eagle bringing its stake to 9.85% (December 2025), and a C$15M bought-deal flow-through financing led by Canaccord Genuity and BMO Capital Markets (January 2026). The customer base is therefore institutional and strategic mining-focused investors, with end-customer demand indirectly driven by copper and zinc supply needs tied to electrification and decarbonization themes. The company is led by CEO and Chairman Robert Wares, President Don Njegovan, and COO Jeff Hussey (appointed January 2026), and employs 11-50 staff across offices in Toronto, Montreal, and a field office in Murdochville.

Name

Osisko Metals

Legal name

Osisko Metals Incorporated

Website

https://osiskometals.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Osisko Metals is a Canadian pre-revenue mineral exploration and development company advancing two past-producing brownfield assets — Gaspé Copper in Quebec (the largest undeveloped copper resource in eastern North America) and Pine Point zinc in the Northwest Territories (joint-ventured with Appian Capital) — funded by repeated private placements and a roster of strategic anchor investors including Agnico Eagle, Hudbay, Franco-Nevada, and CDPQ.

Ownership category

akta.pro rank

Product category

Mineral Exploration and Development (Copper and Zinc)

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Copper Exploration & Resource Development (IMAKADAA)

akta.pro secondary industries

Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB)

Keywords

• Mineral exploration services
• Copper mining development
• Zinc mining assets
• Critical minerals development
• Base metals exploration

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure, Others

Revenue model

1. Mineral Exploration and Development: As a pre-revenue exploration-stage company, Osisko Metals does not generate operating revenue. The company advances mineral assets through exploration and development phases with the goal of defining economic mineral resources, entering production, or selling/acquiring assets to joint venture partners or larger mining companies. Economic value is derived from capital appreciation, strategic partnerships, and eventual cash flows from mineral production or asset monetization.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Osisko Metals acquires, explores, and develops copper and zinc mineral assets in Canada, currently advancing two past-producing brownfield projects: the Gaspé Copper Mine in Murdochville, Quebec (acquired from Glencore in 2023) and the Pine Point zinc project in the Northwest Territories (joint ventured with Appian Capital Advisory). The company raises capital through equity offerings and strategic investments to fund drilling-based resource expansion, with the objective of defining economic mineral resources, reaching a production decision, or monetizing assets.

Product overview

Osisko Metals is a Canadian exploration and development company focused on base metals, specifically copper and zinc. The company operates two principal projects: the Gaspé Copper Project (copper mine in Quebec) and the Pine Point Project (zinc mining camp in Northwest Territories), both representing past-producing brownfield assets being advanced toward development. The company is currently focused on resource expansion drilling at Gaspé Copper and advancing the Pine Point joint venture with Appian Capital.

Differentiator

Problem solved

Functional benefit

Products and services

• Gaspé Copper Project
• Pine Point Project

Quantifiable outcome

• 119% increase in copper metal content (M&I resources) over previously reported Indicated Resource, from approximately 4.9 billion lbs to 10.8 billion lbs contained copper
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered minor and core.

• PricewaterhouseCoopers LLPminorOthers · 28 May 2026PricewaterhouseCoopers LLP was appointed as auditor of Osisko Metals at the 2026 annual meeting of shareholders, providing independent audit services for financial reporting.
• Glencore Canada CorporationcoreOthers · 1 July 2023Osisko Metals acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The acquisition provided Osisko with the largest undeveloped copper resource in eastern North America, located near Murdochville on Quebec's Gaspé Peninsula.
• Appian Capital Advisory LLPcoreStrategic or Co-development Partner · 6 April 2023Appian Capital Advisory LLP partnered with Osisko Metals through a joint venture (Pine Point Mining Limited) to advance one of Canada's largest past-producing zinc mining camps, the Pine Point project in Northwest Territories. The joint venture closed in April 2023, with Appian providing capital and expertise for project advancement.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Foran Mining Corporation: Canadian exploration and development company advancing the McIlvenna Bay copper-zinc-gold-silver project in Saskatchewan. Directly comparable to Osisko Metals as a Canadian base-metals developer with a flagship copper-zinc asset advancing through resource expansion and PEA/feasibility stages.
• Filo Corp: Copper-gold-silver exploration company advancing the Filo del Sol project in the Americas. Direct peer as a copper-focused exploration/development company generating resource expansion drilling results and pursuing strategic alternatives including M&A.
• Taseko Mines Limited: Canadian mid-tier copper producer/developer with the Gibraltar copper-molybdenum mine in BC and Florence Copper project in Arizona. Comparable to Osisko Metals as a copper-focused mining company with both producing and development assets, M&I resource expansion focus, and copper-molybdenum by-product exposure similar to Gaspé.
• NGEx Minerals: Canadian copper-gold exploration company advancing the Los Helados project in Chile and the Lunahuasi discovery in Argentina. Comparable as a copper-focused exploration company pursuing porphyry copper systems and reporting NI 43-101 compliant resource estimates.
• Capstone Copper: Mid-cap Canadian copper producer with operating mines (Pinto Valley, Cozamin, Mantos Blancos) and the Santo Domingo development project. Relevant as a copper-focused mining company with both producing operations and advanced-stage development projects sharing Osisko's copper-only focus.
• Western Copper and Gold: Canadian exploration/development company advancing the Casino copper-gold-molybdenum project in Yukon. Directly comparable as a Canadian developer with a large copper-dominant porphyry resource and similar regulatory jurisdiction advantages.
• Hudbay Minerals: Canadian copper-zinc-gold producer with operating mines in Manitoba, Peru, and BC, and Constancia mine. Relevant as both a producer and a strategic investor in Osisko Metals, with overlapping copper-zinc focus and similar Canadian institutional shareholder base.

Broad incumbents

• Lundin Mining: Diversified Canadian base metals producer (copper, zinc, nickel, gold) operating multiple mines globally. Comparable as a larger incumbent base-metals mining company with copper and zinc production — the same commodities Osisko is developing.

Emerging players

• IsoEnergy: Canadian uranium exploration/development company. Comparable as a Canadian small-cap resource company pursuing a single critical-mineral commodity, though focused on uranium rather than base metals.

Others

• Appian Capital Advisory: Private equity firm specializing in mining investments and Osisko's JV partner at Pine Point. Relevant as a financial partner and potential future acquirer/funder of advanced base-metals assets analogous to Osisko's portfolio.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bowmoremining
• Facebookfacebook.com/BowmoreMining
• LinkedInlinkedin.com/company/osiskometals

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds10 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Osisko Metals