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 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.
Osisko Development Corporation has announced promising results from its 2022 drilling campaign at the Cariboo Gold Project in British Columbia. The campaign included 6,500 meters of infill drilling at the Lowhee Zone, with 27 holes drilled. Notable assay results include 7.13 g/t Au over 3.20 m and 32.88 g/t Au over 1.70 m. The company aims to extract 10,000 tonnes of mineralized material for a fully-permitted Bulk Sample, leveraging a new Ore Sorting Facility to enhance processing efficiency and reduce costs. The Lowhee Deposit hosts indicated resources of 188,000 ounces of gold.
Osisko Development Corp. reported its Q3 2022 financial results, with 10,958 ounces of gold sold, generating $22.8 million in revenue. The company holds approximately $133.1 million in cash as of September 30, 2022. Highlights include ongoing developments at the Tintic project with over 5,353 ounces of gold produced and ramp construction progress at 25%. The company also filed final documents for the Cariboo Gold Project Environmental Assessment, aiming to mitigate capital intensity risk while maximizing margins. Notably, an $81 million non-cash impairment was recorded.
Osisko Development Corp. provided a corporate update highlighting gold production from its three projects: Tintic, Cariboo, and San Antonio. As of September 30, 2022, the company produced a total of 19,874 ounces of gold. Tintic saw 5,353 ounces produced at an average grade of 0.91 oz/t, while Cariboo produced 7,163 ounces at 6.50 g/t. Notably, the San Antonio Project is expected to incur an asset impairment due to inflationary pressures, although this will not affect cash flows or mining plans. The company remains dedicated to advancing its projects into production and exploration phases.
Osisko Development Corp. (ODV) announced updates on its Tintic, Cariboo Gold, and San Antonio Projects as of September 30, 2022. The company produced a total of 19,874 ounces of gold across its projects. Highlights include 5,353 ounces from Tintic, where construction of a decline ramp is 25% complete, and 7,163 ounces from the Cariboo Project, which is advancing through environmental assessments. However, the San Antonio Project is facing a potential asset impairment due to industry cost pressures. The Cariboo Gold Project is positioned for future growth with significant mineral resources identified.
Osisko Development Corp. announced the departure of Vice President of Investor Relations, Jean-François Lemonde. CEO Sean Roosen expressed gratitude for Lemonde's contributions and wished him success in future endeavors. Laurence Farmer will temporarily take over the investor relations function. Osisko Development is focused on advancing the Cariboo Gold Project and other properties in Canada, the U.S., and Mexico, aiming to become a mid-tier gold producer. The Cariboo Gold Project stands out due to its significant exploration potential.
Osisko Development announced the closure of a metals stream agreement with Osisko Bermuda Limited for its subsidiary Tintic Consolidated Metals. The deal includes a $20 million upfront payment to aid in Tintic's development. Under the agreement, OBL will receive 2.5% of refined metal production until 27,150 ounces of gold are delivered, reducing to 2.0% thereafter. This strategic move is part of Osisko's goal to advance its projects in North America, particularly the Cariboo Gold Project, positioning the company as a mid-tier gold producer.
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Osisko Development released its financial results for Q2 2022, showing significant advancements. The acquisition of Tintic Consolidated Metals on May 27, 2022, has strengthened its position in Utah's mining district. Operations at the Trixie test mine are expanding, aiming for increased productivity. A Preliminary Economic Assessment (PEA) for the Cariboo Gold Project indicates potential annual gold production of 236,000 ounces over 12 years. The company also reported initial mineral resources at the San Antonio Project and closed financings totaling approximately $255.5 million.
Osisko Development Corp. (ODV) addressed unauthorized third-party comments regarding its Tintic project, emphasizing that only authorized company disclosures should be trusted. The company highlights the Tintic Project as a promising exploration opportunity but warns that production at the Trixie test mine may face risks without feasibility studies or established mineral resources. This lack of assurance could negatively impact revenue and operational cash flow. Readers are directed to previous news releases for details on the project.