May 10, 2012 / 9:29 PM / 6 years ago

Osisko posts profit as Malartic mine ramps up

TORONTO, May 10 (Reuters) - Osisko Mining Corp reported a third consecutive quarterly profit on Thursday as it ramped up production at its Canadian Malartic gold mine in Quebec, but a fire that broke out there on Wednesday night shut down milling operations.

Osisko earlier on Thursday said it expected to get mill operations going again in the next two to three weeks.

Net income in the first-quarter came in at C$29.4 million, or 8 Canadian cents a share, compared with a year-earlier loss of C$5.3 million, or 1 Canadian cent.

Malartic, the company’s only operating mine, went into commercial production last year.

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