Osisko Recruits Another Ally

Osisko Mining has another ally as it tries to fend off a hostile takeover from Goldcorp.

Agnico Eagle Mines is joining with previously announced Yamana Gold to acquire Osisko, creating a new company called New Osisko.

The deal is valued at about 575-million dollars, well below what's being offered by Goldcorp.

Part of the agreement includes the new company continuing the exploration of the Hammond Reef Gold project near Atikokan.