Osisko Development Awards Project and Construction Management Services Contract for the Development of the Cariboo Gold Project
Rhea-AI Summary
Osisko Development (NYSE: ODV) announced that its subsidiary Barkerville Gold Mines entered a definitive Project and Construction Management Services Agreement with JDS Energy & Mining for the development of the Cariboo Gold Project in British Columbia.
The agreement is intended to provide integrated project delivery, added planning and execution capacity, and structured project management support as the company advances the next phase of work at Cariboo.
Positive
- Signed definitive project and construction management agreement with JDS
- Adds dedicated planning and execution capacity for Cariboo development
- Formalizes an integrated approach to project delivery for the next phase
Negative
- None.
News Market Reaction
On the day this news was published, ODV gained 7.99%, reflecting a notable positive market reaction. Argus tracked a peak move of +2.3% during that session. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $85M to the company's valuation, bringing the market cap to $1.15B at that time.
Data tracked by StockTitan Argus on the day of publication.
Market Reality Check
Peers on Argus
ODV was up 8.36% while key gold peers like IAUX (+8.67%), GAU (+4.38%) and CMCL (+3.15%) also rose. However, the momentum scanner did not flag a coordinated sector move, suggesting ODV’s gain reflected more stock-specific dynamics.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 03 | Equity offering close | Neutral | +4.1% | Completion of US$143.8M bought-deal share offering to fund Cariboo work. |
| Feb 02 | Management appointment | Positive | +0.9% | Appointment of VP, Permitting and Compliance to strengthen regulatory capabilities. |
| Jan 27 | Asset sale | Neutral | -1.0% | Sale of San Antonio Gold Project for Axo shares and contingent payments. |
| Jan 26 | Equity offering launch | Neutral | +0.0% | Announcement of US$125M bought-deal offering to fund Cariboo exploration. |
| Jan 23 | Safety incident | Negative | -0.3% | Report of contractor fatality at Cariboo and temporary suspension of activities. |
Recent Cariboo-focused financings and corporate updates have generally seen modestly positive to flat price reactions, with only one clear divergence on a project sale.
Over the past few weeks, Osisko Development has been highly active around its flagship Cariboo Gold Project. Equity financings on Jan 26 and completion of a US$143.8M bought deal on Feb 3 were aimed at funding infill conversion drilling and deeper exploration, with neutral-to-positive price reactions. The company also sold its San Antonio Gold Project on Jan 27, and dealt with a contractor fatality at Cariboo on Jan 22. The current project and construction management agreement with JDS fits into this ongoing transition from financing and portfolio reshaping toward execution at Cariboo.
Regulatory & Risk Context
An active Form F-3/A shelf, effective since 2025-12-10, registers up to 104,751,318 common shares for resale. While the company does not receive proceeds from shareholder resales, it could receive up to US$126.8 million if associated warrants are exercised, earmarked for the Cariboo Gold Project. The shelf has already been used via a 424B3 filing on 2025-12-17.
Market Pulse Summary
The stock moved +8.0% in the session following this news. A strong positive reaction aligns with ODV’s pre-existing uptrend, trading at 3.63 above its 2.86 200-day MA. Recent financings and a contractor fatality at Cariboo saw mostly aligned but moderate price moves, so a large gain on this construction management contract could mark a shift toward execution-focused optimism. However, the existing shelf registration and prior capital raises, plus warrant overhang from registered shares, could introduce future supply that may temper extended upside.
AI-generated analysis. Not financial advice.
MONTREAL, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce that its wholly-owned subsidiary, Barkerville Gold Mines Ltd., has entered into a definitive Project and Construction Management Services Agreement with JDS Energy & Mining Inc. ("JDS") for the development of the Cariboo Gold Project, located in British Columbia (the "Cariboo Gold Project").
Sean Roosen, Chairman and CEO, commented, "Formalizing our partnership with JDS supports an integrated approach to project delivery, as we advance the next phase of work at the Cariboo Gold Project. JDS' project and construction management experience provides additional capacity and structure across planning and execution, supporting disciplined progress on the development of the Cariboo Gold Project."
About JDS Energy & Mining Inc.
JDS is a Western Canada-based mining services company founded in 2004 by Jeff Stibbard and comprised of a diverse team of skilled and highly experienced mining and construction professionals. With a proven track record of providing clients with fit-for-purpose solutions and delivering value, JDS has earned a reputation for delivering and executing project plans on budget, on schedule, and most importantly, safely. The JDS team prides itself on delivering projects from concept through operations and ultimately reclamation – an approach it has executed across Canadian and international operations. Past projects include the Minto Mine, the Gahcho Kue Mine, and the Silvertip Mine. Please visit their website at https://jdsmining.ca for more information.
ABOUT OSISKO DEVELOPMENT CORP.
Osisko Development Corp. is a continental North American gold development company focused on past producing mining camps with district scale potential. The Company's objective is to become an intermediate gold producer through the development of its flagship, fully permitted,
For further information, contact:
| Sean Roosen | Philip Rabenok |
| Chairman and CEO | Vice President, Investor Relations |
| Email: sroosen@osiskodev.com | Email: prabenok@osiskodev.com |
| Tel: +1 (514) 940-0685 | Tel: +1 (437) 423-3644 |
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward- looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, "forward-looking statements"). Such forward-looking statements are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or potential outcomes. Such forward-looking statements in this news release may include, without limitation, statements pertaining to the ability to develop the Cariboo Gold Project; the timing and ability to complete contemplated work. Such forward-looking statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Actual results could differ materially due to a number of factors, including, without limitation, risks related to exploration, development and operation of the Cariboo Gold Project, general economic and market conditions and business conditions in the mining industry, fluctuations in commodity and currency exchange rates, changes in regulatory framework and applicable laws, as well as those risks and factors disclosed in the Company's most recent annual information form, financial statements and management's discussion and analysis as well as other public filings on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov). Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise these forward-looking statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
FAQ
What did Osisko Development (ODV) announce about the Cariboo Gold Project on February 9, 2026?
Who will provide project and construction management services for ODV's Cariboo Gold Project?
How does the JDS agreement affect Osisko Development's project delivery for Cariboo (ODV)?
Is the JDS arrangement for Cariboo (ODV) a binding contract or a preliminary deal?
