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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) announces significant underground diamond drilling results from its 100%-owned Trixie test mine in Utah as part of its Tintic Project. High-grade gold and silver intercepts were reported, including assays of up to 354 g/t gold and 249 g/t silver. The drilling is focused on expanding understanding of mineralization within the T2 and T4 structures, with the goal of identifying new exploration targets. Additionally, the board has approved equity compensation grants, including 1,081,600 stock options at C$6.59 per share, expiring in 2028.
Osisko Development Corp. (NYSE: ODV) reported its financial results for Q4 and FY 2022, highlighting a transformational year. The acquisition of the Tintic Project bolstered its portfolio, achieving an initial mineral resource at the Trixie deposit with high-grade gold potential. The Cariboo Gold Project reached a significant milestone with its Feasibility Study. In 2022, the company sold 26,875 ounces of gold, generating $64 million in revenue. It closed private placements totaling $255.5 million and reported $105.9 million in cash as of year-end. However, non-cash impairments of $59 million were recorded for its Barkerville project and $81 million for the San Antonio project.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) announced the approval to reduce the exercise price of its common share purchase warrants issued in 2022. The company applied to the TSX Venture Exchange for amendments affecting 7,752,916 brokered private placement warrants, decreasing the exercise price from C$22.80 to C$14.75, and 11,363,933 non-brokered private placement warrants, reducing the price from US$18.00 to US$10.70. The changes aim to align with shareholder interests and are expected to take effect before the end of March 2023, pending approval from the Exchange. CEO Sean Roosen emphasized the warrant repricing's significance for continued shareholder support.
Osisko Development Corp. (NYSE: ODV) has successfully completed a bought deal public offering, raising approximately $51.8 million by selling 7,841,850 units at $6.60 each, including the full exercise of the over-allotment option. Each unit comprises one common share and one warrant, allowing purchase of additional shares at $8.55 for 36 months. The offering was co-led by Eight Capital and National Bank Financial, incurring a 5% cash commission. Proceeds will be used to advance the Tintic and Cariboo Gold Projects and for general corporate purposes. The offering is subject to final acceptance by the TSX Venture Exchange.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) has announced the issuance of 10,000 common shares as part of a participation agreement with the Williams Lake First Nation regarding the Cariboo Gold Project in British Columbia. The company will also issue up to 50,000 additional shares based on future milestones. These shares will be subject to a statutory hold period of four months. Osisko aims to develop its gold projects, including Cariboo, Tintic in Utah, and San Antonio in Mexico, while minimizing development risks and enhancing mineral resources.
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