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.
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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.