BUZZ-Labrador Iron Ore Royalty Corp: Osisko Gold buys stake

Fri May 15, 2015 11:30am EDT
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** Shares of the company up 8.6 pct at C$16.50

** Osisko Gold Royalties Ltd buys 9.75 pct stake in Labrador Iron Ore

** Labrador, whose sole holding is a 15.10 percent equity interest in Iron Ore Company of Canada, receives royalties, fees and dividends from IOC and distributes to shareholders

** Osisko's stock falls slightly to C$16.64

** Up to Thursday's close, Labrador stock had fallen 18 pct this year, while Osisko shares had risen about 2 pct