Osisko Mining Rejects Goldcorp’s Offer; Japanese Gold Bullion Up

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Goldcorp better raise its offer… “Osisko Mining Corp. is formally rejecting a hostile takeover offer by Goldcorp. Inc. valued at $2.6 billion,” reports The Canadian Press.

“The gold miner said Monday that the stock-and-cash offer is ‘financially inadequate and not in the best interests of Osisko.'”

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“Osisko says its board and management are focused on delivering superior value to shareholders.”

In metal prices news for precious metals…

On Friday, January 17, Japanese gold bullion jumped up 2.9 percent, making it the day’s biggest increase. Chinese gold bullion prices inched up 0.3 percent. The price of Indian gold bullion declined 0.2 percent. After dropping for two days, the price of US gold bullion flattened.

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Indian silver prices saw a 0.8 percent decline. US silver ended the day after the 0.5 percent drop last Friday. Japanese silver saw its price rise 0.4 percent. The price of Chinese silver is back up, rising by 0.1 percent last Friday to close.

After falling for two days, the price of Japanese platinum bar rose 0.8 percent. Chinese platinum bar finished the day up 0.3 percent. US platinum bar prices rose 0.3 percent.

The price of Japanese palladium bar showed little movement last Friday. The price of US palladium bar was essentially unchanged. Chinese palladium bar stayed flat.