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.
About Osisko Development Corp.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) is a North American mineral exploration and development company focused on advancing precious metals projects, particularly gold, in mining-friendly jurisdictions. The company specializes in the acquisition, exploration, and development of resource properties with significant mineral potential. By targeting past-producing mining camps, Osisko Development seeks to leverage existing infrastructure, historical mining data, and skilled labor to streamline project development and minimize risk.
Core Business and Strategy
Osisko Development's business model revolves around the exploration, evaluation, and development of gold projects. Its strategy emphasizes environmentally responsible mining practices, leveraging clean energy sources such as hydroelectric power, and fostering community engagement. The company aims to develop long-life mining assets with district-scale potential while maintaining a strong focus on operational efficiency and sustainability.
Flagship Projects
- Cariboo Gold Project (British Columbia, Canada): This 100%-owned flagship project is located in a historically productive gold mining region in central British Columbia. Fully permitted and with substantial exploration potential, the Cariboo Gold Project is a cornerstone of Osisko Development's growth strategy.
- San Antonio Gold Project (Sonora, Mexico): Situated in a mining-friendly jurisdiction, this brownfield property benefits from extensive historical mining data and existing infrastructure. The project represents a key asset in the company's portfolio, offering significant exploration upside.
- Tintic Project (Utah, USA): Located in the historic East Tintic mining district, this project combines exploration potential with access to existing infrastructure and skilled labor. The Tintic Project underscores Osisko Development's focus on revitalizing past-producing mining camps.
Industry Context and Competitive Position
Osisko Development operates within the highly competitive mining industry, where success depends on factors such as resource quality, operational efficiency, and regulatory compliance. By focusing on past-producing assets in jurisdictions with established mining frameworks, the company mitigates some of the risks associated with exploration and development. Additionally, its commitment to sustainability and community engagement positions it as a socially responsible player in the sector.
Commitment to Sustainability
Osisko Development integrates environmental, social, and governance (ESG) principles into its operations, prioritizing the use of clean energy and minimizing environmental impact. This approach not only aligns with industry trends but also enhances the company's appeal to stakeholders seeking responsible mining practices.
Conclusion
Osisko Development Corp. is a dynamic player in the precious metals mining industry, combining a robust portfolio of projects with a strategic focus on sustainability and operational efficiency. By targeting past-producing mining camps and leveraging existing infrastructure, the company aims to create value while minimizing development risks. Its flagship projects in Canada, Mexico, and the U.S.A. underscore its commitment to building a strong foundation for long-term growth in the gold sector.
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.
Osisko Development Corp. (NYSE: ODV) announced the filing of a technical report detailing its initial mineral resource estimate (MRE) for the Trixie deposit within the Tintic Project in Utah. The Trixie MRE, effective January 10, 2023, was prepared by Micon International Limited and is compliant with NI 43-101 standards. Key findings indicate measured resources of 111,190 tonnes with an average gold grade of 0.617 g/t, and indicated resources of 225,200 tonnes at 20.171 g/t. Total inferred resources amount to 385,000 tonnes with a 19.642 g/t gold grade. The report is available on SEDAR and the company's website.
Osisko Development Corp. reported an initial mineral resource estimate for its 100%-owned Trixie deposit within the Tintic Project, Utah. The resource includes 213,000 oz of gold at 28.1 g/t and 385,000 oz of silver at 50.8 g/t in Measured and Indicated categories, alongside 1,243,000 oz of gold at 19.6 g/t and 530,000 oz of silver at 42.8 g/t in Inferred categories. Initial exploration indicates potential for extending mineralization. The Trixie mineral resource estimate is based on over 4,467 samples and is expected to inform operational planning. A technical report will follow within 45 days, as required by NI 43-101.
Osisko Development Corp. announced promising results from drilling and underground chip sampling at its 100%-owned Trixie test mine in Utah. Highlights include exceptional assay results, with values reaching 2,311.18 g/t Au and 1,146.46 g/t Ag over 2.29 m. The Company aims to expand mineralization areas while preparing for a mineral resource estimate in Q1 2023. This progress is pivotal as Trixie is just one of four targeted locations in the broader Tintic Project, reinforcing the potential for significant exploration and shareholder value growth.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) has filed a new technical report for its 100%-owned Cariboo Gold Project, titled 'Feasibility Study for the Cariboo Gold Project, District of Well, British Columbia, Canada.' This report, effective December 30, 2022, supersedes the prior report dated May 24, 2022, and was prepared by independent experts from BBA Engineering Ltd. and other qualified consulting firms. The report is accessible on SEDAR, EDGAR, and the company's website, reinforcing Osisko's focus on developing sustainable gold mining assets.
Osisko Development Corp. announced a positive Feasibility Study for its Cariboo Gold Project, showing robust metrics including a C$502 million after-tax NPV5% and a 20.7% IRR at a US$1,700/oz gold price. The project aims for 163,695 ounces of average annual gold production over a 12-year mine life, with initial capital expenditures of C$137.3 million. The study also highlights low operating costs of US$792/oz and significant environmental benefits from advanced ore sorting technology, minimizing energy use and waste.
Osisko Development Corporation (NYSE: ODV) has appointed David Danziger as an Independent Non-Executive Director, effective December 14, 2022. Danziger is a Chartered Professional Accountant with over 30 years of experience in audit and management consulting, and 25 years in the resources sector. His expertise includes significant public markets transactions and corporate governance. Danziger has received 35,778 deferred share units as part of his appointment. Osisko aims to become a mid-tier gold producer, with primary assets in the Cariboo Gold Project and other properties across North America.
Osisko Development announced positive results from its underground exploration at the Trixie test mine in Utah, showing significant high-grade gold and silver samples. Notable assays include up to 4,186.46 g/t Au and 6,698.97 g/t Ag over short intervals. The company explored about 20% of the Trixie area, hinting at further potential. Plans for a mineral resource estimate (MRE) are underway for early 2023. However, assay delays may impact timelines. The completion of the Trixie portal is 30% complete, expected to enhance underground access and exploration.
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