Osisko Gold Royalties (OR)

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Diamond pioneer Gren Thomas takes a shine to gold, tin plays

For David Grenville (Gren) Thomas, the big score was the discovery of Diavik by his Aber Resources more than 20 years ago.

Thomas and his partners headed north and got to work in the early days of the staking rush following Chuck Fipke’s 1991 discovery of diamonds in the Northwest Territories. It took a few years, but in 1994 and 1995, Aber discovered the kimberlite pipes that became Diavik, Canada’s second diamond mine. Diavik, still producing, is a joint venture between 60% owner Rio Tinto (RIO*US) and Aber successor Dominion Diamond (DDC) (40%).

CEO buying at NioGold

While yesterday we featured a junior stock which was a contrarian situation, today we look at an example of relative strength in NioGold Mining (NOX). We last featured NioGold here on April 15. The stock has been relatively flat since the report which translates into strong relative performance against the broad iShares S&P/TSX Global Gold Index Fund Units (XGD) which over the same time period is down 25.5%.

The stock has come to our attention because CEO Robert Wares (featured on our Power Player blog last year) was a cofounder of Osisko Mining and has been buying recently. It is also notable that Osisko Gold Royalties (INK Edge Outlook: cloudy; OR), a spin off of Osisko Mining, is the largest insider equity holder at NioGold with 19.36% of shares outstanding.

Gold royalty collector Roosen adds iron (ore) man to his resume

Sean Roosen wasted no time establishing a gold royalty powerhouse, Osisko Gold Royalties (OR), last year after selling his Osisko Mining and its Malartic gold mine in Quebec to a Yamana Gold (YRI)/Agnico Eagle (AEM) consortium for $3.9 billion.

The Osisko Gold Royalties chairman and CEO added another prize royalty with the friendly takeover of Quebec-focused Virginia Mines. That deal gave Osisko a 2-3.5% NSR on Goldcorp's Eleonore mine in Quebec, which recently went into commercial production.

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