Montreal-based Osisko Mining received a last payment of $30 million from Kirkland Lake Gold to complete the sale of some northeastern Ontario mining properties from a previous joint venture.
The properties in Teck Township were part of a 50-50 joint venture between Kirkland Lake Gold and Queenston Mining, the latter company being acquired by Osisko last fall.
The properties were sold for $60 million and includes a royalty agreement.
Osisko acquired the Kirkland Lake area assets of Queenston Mining and its Upper Beaver project in a $550-million deal.
Osisko operates the Canadian Malartic gold mine in the Abitibi region of Quebec and is advancing another, the Hammond Reef near Atikokan in northwestern Ontario, towards production.
