The deal, announced in August, drew some criticism as Gold Fields paid a 55% premium for the second batch of Osisko shares. Chief executive Mike Fraser assured the market on Monday that Gold Fields remained in a strong financial position following the acquisition, maintaining its investment-grade credit rating.
Analysts have pointed that Gold Fields paid a premium for Osisko mainly to acquire a high-quality project and prevent being outbid for a growth asset in a strongly supportive gold market. Several banks and agencies forecast that prices for the precious metal will surpass $2,800/ounce this year and reach $3,000/ounce by 2025.
Gold Fields’ top executive said the company’s financial position was anticipated to strengthen further, thanks to cash flow growth projected for the remainder of the year and into 2025, driven by increased production volumes at various operations.
“Deposits of the scale and…
