Welcome to our dedicated page for Osisko Development news (Ticker: ODV), a resource for investors and traders seeking the latest updates and insights on Osisko Development stock.
Osisko Development Corp. (ODV) is a dynamic mineral exploration and development company dedicated to acquiring, exploring, and developing precious metals resource properties across North America. The company's primary focus includes significant projects such as the Cariboo Gold Project in British Columbia, the San Antonio gold project in Mexico, and the Trixie test mine in the USA. These projects reflect Osisko Development Corp.'s commitment to becoming a leading player in the precious metals sector.
Cariboo Gold Project: Located in the historic Cariboo mining district of British Columbia, this project is one of the company's flagship ventures. With substantial exploration and development activities underway, the Cariboo Gold Project aims to unlock significant gold resources, potentially transforming the region's mining landscape.
San Antonio Gold Project: Situated in Mexico, the San Antonio project adds a strategic dimension to the company's portfolio. This project is essential for Osisko Development Corp. as it diversifies its geographical presence and potential resource base. Ongoing exploration and development efforts are focused on achieving profitable gold production.
Trixie Test Mine: In the USA, the Trixie test mine represents another significant asset for the company. This project allows Osisko Development Corp. to test and develop new mining techniques and technologies, ensuring efficiency and sustainability in its operations.
Osisko Development Corp. leverages its expertise in exploration, evaluation, and development to manage its extensive portfolio of mining assets. The company's strategy involves rigorous scientific analysis, innovative mining techniques, and sustainable practices to maximize resource extraction while minimizing environmental impact.
Recent achievements include significant progress in drilling and exploration activities, enhancing the resource estimates for the Cariboo and San Antonio projects. These milestones reflect the company's robust financial condition and commitment to delivering value to its shareholders.
With a clear focus on sustainable development, Osisko Development Corp. also emphasizes strong partnerships and collaborative efforts. The company aligns with local communities, regulatory bodies, and industry partners to ensure responsible mining practices and long-term economic benefits.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) has temporarily halted non-essential activities at its Cariboo Gold Project in central British Columbia due to a wildfire evacuation order. As of July 21, 2024, all non-essential personnel and contractors have been moved off-site, while essential staff remain. The company has taken precautionary measures to protect site infrastructure and is assisting the wildfire response by hosting firefighters at the project's camp facilities.
Osisko Development is maintaining regular contact with local authorities and will continue to monitor the situation closely. The company will provide updates as appropriate. This temporary pause in operations is a proactive measure to ensure the safety and welfare of employees during the wildfire threat.
Osisko Development (NYSE: ODV, TSXV: ODV) announced its annual equity-based compensation grants to senior officers, effective July 4, 2024. The Board approved 2,797,400 incentive stock options (Options) and 371,800 restricted share units (RSUs). The Options are exercisable at C$2.72 per share and will expire on July 4, 2029, with vesting in three equal parts on July 4, 2025, 2026, and 2027. The RSUs will cliff vest on July 4, 2027.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) has amended its US$50 million credit facility agreement with National Bank of Canada. This amendment extends the maturity date to October 31, 2025, provided the company raises at least US$20 million by October 31, 2024; otherwise, it reverts to February 28, 2025.
The amendment also reduces the mandatory prepayment requirement to 50% of each dollar raised over US$25 million. Osisko will pay an upfront fee of approximately US$670,000 and duration fees between 1.5% to 2.0% of the total commitment. The company aims to use this financial flexibility to advance its Cariboo Gold project, with permits expected in Q3 2024.
Osisko Development (NYSE: ODV, TSXV: ODV) announced its intention to complete the second of five deferred payments for its acquisition of the Tintic Project in Utah, U.S.A. The payment, valued at US$2.5 million (C$3.42 million), will be made entirely in common shares at C$2.7829 per share, resulting in the issuance of 1,228,394 shares. This is subject to approval by the TSX Venture Exchange. The Tintic Project acquisition was originally completed in May 2022.
The Mining Investment Event of the North, Canada’s premier Tier 1 Global Mining Investment Conference, will be held in Quebec City from June 4-6, 2024. Kinterra Capital Corp. will participate as the Battery and Critical Metals Sponsor. The event will feature over 100 mining companies, including high-profile participants like Agnico Eagle Mines and Glencore Canada. Key sponsors include Laurentian Bank Securities and National Bank Financial Markets. The conference aims to address sustainable and geopolitically secure supply chain solutions for critical minerals, highlighted by Kinterra's focus on 'mine to battery' solutions.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) provides corporate updates including the grant of deferred share units (DSUs) to independent directors and the departure of Vice President, Exploration, Maggie Layman. The DSUs will vest as per the Company's DSU Plan, while Daniel Downton will assume the role of 'qualified person' for mineral projects.
Osisko Development Corp. held its annual meeting of shareholders where directors were elected, auditor re-appointed, and plans approved. The meeting saw high voter participation and positive outcomes for key resolutions.
Osisko Development Corp. reported its Q1 2024 financial and operational results, highlighting 619 ounces of gold sold, $1.8 million in revenues, and $2.0 million in cost of sales. The Company secured a $50 million Credit Facility for the Cariboo Gold Project and is progressing with permitting. The Tintic Project saw exploration updates and the release of a new mineral resource estimate. The San Antonio Gold Project is on hold pending permitting decisions in Mexico. Key upcoming milestones and financial data were also provided in the PR.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) files a technical report for the updated mineral resource estimate on its 100%-owned underground Trixie deposit within the Tintic Project, showcasing Measured and Indicated resources of 245,000 tonnes with a gold grade of 19.11 g/t and silver grade of 60.80 g/t. The report, prepared by Micon International , highlights the viability of the project with a focus on gold equivalent grades and underground mining scenarios.
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