Osisko Mining Says Court Has Set Hearing, Goldcorp Extends Bid

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It continues… “Osisko Mining Corp said on Tuesday a Quebec court has scheduled a hearing in early March to decide if its complaints against Goldcorp Inc, which has made a C$2.6 billion ($2.35 billion) hostile bid for Osisko, have merit,” reports Reuters.

“As a result, Goldcorp said it had extended its bid to March 10 from a previous expiry of Feb. 19.”

“Osisko said last week it had sued Goldcorp in an attempt to foil the gold miner’s bid, alleging that its suitor misused confidential information. Osisko has already advised its shareholders to reject the bid.”

“The hearing in the Quebec Superior Court has been set for March 3-5.”

In metal price news for precious metals…

The day’s biggest mover was Japanese platinum bar, dropping 1.5 percent to settle on Tuesday, February 4. US platinum bar closed 0.4 percent lower. Chinese platinum bar held its value on Tuesday.

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The price of Japanese palladium bar fell 1.3 percent. US palladium bar finished the day down 0.1 percent. The price of Chinese palladium bar saw little movement.

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Following a two-day drop, the price of Indian gold bullion increased by 1.4 percent. The price of Japanese gold bullion declined 0.2 percent. US gold bullion prices saw a 0.2 percent decline. Chinese gold bullion saw little change in its price yesterday.

Japanese silver fell 0.9 percent on Tuesday. Indian silver prices inched up 0.9 percent. US silver ended the day, after the 0.6 percent drop yesterday. The price of Chinese silver held steady.