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. develops North American gold assets, led by the fully permitted, 100%-owned Cariboo Gold Project in central British Columbia. The company also reports on the Tintic Project in Utah, a brownfield property in the historic East Tintic mining district with exploration potential, historical mining data and established infrastructure.
Company news commonly covers Cariboo pre-construction, early works, underground development, water-treatment and site-activity updates, as well as Lowhee Zone infill drilling and exploration results. Other recurring developments include financial results, gold sales from small-scale Tintic activities, project financing, warrant exercises, equity incentive grants, index inclusion and management appointments tied to construction, permitting, exploration, compliance and commercial execution.
Osisko Development (NYSE: ODV) has announced positive results from its optimized 2025 Feasibility Study for the permitted Cariboo Gold Project in British Columbia. The study reveals robust economics with a base case after-tax NPV5% of $943 million and IRR of 22.1% at US$2,400/oz gold price.
Key highlights include:
- Average annual production of ~190,000 ounces of gold over 10 years, with 202,000 ounces in first 5 years
- First gold production anticipated in H2 2027
- Total initial capital cost of $881 million
- Average total cash costs of US$947/oz and AISC of US$1,157/oz
- Average base case LOM annual free cash flow of $158 million
The project features improved single-phase build over 24 months, streamlined processing facilities, and enhanced flowsheet design. It will create up to 613 direct jobs during construction and 525 permanent positions during operations.
Osisko Development (NYSE: ODV, TSXV: ODV) has announced the listing of its common share purchase warrants on the TSX Venture Exchange under the symbol 'ODV.WT.V', effective April 17, 2025. 51,109,776 warrants will be listed, which were issued through private placements between October and November 2024.
The warrants were issued in three tranches: two non-brokered private placements (October 1 and 11, 2024) and one brokered private placement (November 12, 2024). Each warrant allows holders to purchase one common share at US$3.00 per share until October 1, 2029. The warrants will trade in U.S. dollars on the TSXV.
The company also plans to list these warrants on the New York Stock Exchange (NYSE), subject to meeting regulatory requirements.
Osisko Development (NYSE: ODV) has reported its Q4 and year-end 2024 financial results, highlighting several key developments. The company maintained a strong cash position of $106.7 million as of December 31, 2024, with an outstanding loan of $36.0 million due October 2025.
The company successfully completed two private placements in 2024: a non-brokered placement raising US$34.5 million and a brokered placement generating US$57.5 million. A significant milestone was achieved with the Cariboo Gold Project receiving full permits under both the Mines Act and Environmental Management Act of British Columbia, achieving shovel-ready status.
The company is advancing pre-construction activities, including an underground bulk sampling program with approximately 7,400 tonnes extracted to date. An optimized feasibility study is in advanced stages, aiming to enhance mine development and process flowsheet to reach 4,900 tonnes per day throughput earlier than planned.
Osisko Development Corp. (NYSE: ODV) (TSX: ODV) is advancing the Cariboo Gold project, one of Canada's newly permitted underground gold mines in British Columbia. The project represents a significant development in a tier 1 jurisdiction, featuring a large gold resource.
The company's strategy focuses on implementing high-efficiency bulk tonnage production methods while promoting responsible mining practices that aim to benefit all stakeholders. This initiative is part of Osisko's broader mission of revitalizing historic mining camps across North America.
Osisko Development Corp (NYSE: ODV) (TSXV: ODV) has announced its participation in the upcoming Prospectors & Developers Association of Canada's (PDAC) Convention. The company will be exhibiting at Booth #2821 at the Metro Toronto Convention Centre from March 2-5, 2025.
Osisko Development (NYSE: ODV) has announced promising results from its 2024 initial exploration and infill drill campaign at the QR Mine Prospect within its 100%-owned Cariboo Gold Project in British Columbia. The program, consisting of thirteen surface diamond drill holes totaling 1,732 meters, yielded significant gold intersections including 13.61 g/t gold over 4.15 meters and 5.98 g/t gold over 11.40 meters.
The campaign aimed to validate historical exploration data from previous owners' work conducted between the 1970s and 2000s, comprising over 130,000 meters of drilling in more than 1,300 drill holes. The new results appear consistent with historical mineralization at the QR Mine, providing preliminary validation for using historic data in future exploration.
The company plans to conduct geophysical surveys, including induced polarization (IP), to identify potential drilling targets, particularly given the quaternary till cover in the area. The existing aerial magnetic survey has highlighted the QR stock and several magnetic anomalies that could indicate related intrusive bodies.
Osisko Development (NYSE: ODV, TSXV: ODV) has announced key management changes, appointing David Rouleau as Vice President, Project Development. This appointment supports the company's focus on developing its 100%-owned Cariboo Gold Project in central British Columbia. The company also announced the immediate departure of Éric Tremblay, Chief Operating Officer, who is leaving to pursue other opportunities in the mining sector.
Rouleau, who brings over 35 years of operational and management experience, will provide senior leadership during the transition period until a permanent COO is appointed. His extensive background includes roles at Victoria Gold, Barkerville Gold Mines, Taseko Mines, and Teck Cominco. The company has initiated an executive search for the COO position and will provide updates accordingly.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) has granted 80,000 deferred share units (DSUs) to independent director Mr. Stephen Quin, following his recent appointment to the company's board of directors on December 5, 2024. The DSUs were issued in accordance with the company's DSU plan, which can be accessed on Osisko Development's website.
Osisko Development (NYSE: ODV) has completed 100% of the underground development (approximately 1,172 meters) at its Cariboo Gold Project in British Columbia, Canada. The company is preparing to extract a 10,000 metric tonnes bulk sample from the Lowhee Zone, with blasting and extraction expected in the coming weeks.
Results from the bulk sample are anticipated in Q1 2025, supporting an optimized feasibility study scheduled for completion in Q2 2025. The extracted material will undergo ore sorter testing at Tomra's facility in Saskatoon and will be processed into concentrate, providing grade reconciliation data relative to the resource model and validating ore sorting assumptions.