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 (NYSE: ODV) has received BC Mines Act permits for its 100%-owned Cariboo Gold Project in British Columbia, marking a important milestone for construction and operations. The project expects gold production up to 223,000 ounces annually during peak operations, with an initial 12-year mine life. The company plans to complete an optimized feasibility study in Q2 2025, with full-scale construction targeted to commence in second half 2025 and completion by end of 2027.
The project will create approximately 634 construction jobs and 488 operational positions, utilizing green hydroelectric power and innovative mining technologies. Environmental Management Act permits have been referred to authorities, with decisions expected shortly. The company is advancing discussions on various funding options for a comprehensive financing package.
Osisko Development (NYSE: ODV) reports Q3 2024 results with $40.8 million in cash and equivalents. The company sold 47 ounces of gold from Cariboo Gold Project, generating $0.2 million in revenues. A mandatory prepayment of US$4.6 million was completed following a private placement. The company completed two significant private placements: a non-brokered placement raising US$34.5 million and a brokered placement raising US$57.5 million. At Cariboo Gold Project, permitting progress continues with final decisions expected in Q4 2024. The company is advancing an optimized feasibility study anticipated for Q2 2025. The Tintic Project completed drilling programs targeting copper-gold-molybdenum porphyry mineralization.
Osisko Development (NYSE: ODV) has successfully closed a private placement offering of 31,946,366 units at US$1.80 per unit, raising approximately US$57.5 million. The offering included a lead order from Condire Investors, resulting in an 8.8% stake in the company. Each unit consists of one common share and one purchase warrant exercisable at US$3.00 until October 1, 2029. The proceeds will fund the advancement of Cariboo and Tintic projects, partially repay existing credit facility, and support general corporate purposes. The company expects to complete an updated optimized feasibility study for the Cariboo Gold Project in Q2 2025.
Osisko Development (NYSE: ODV) announces that its Cariboo Gold Project in British Columbia has reached a important permitting milestone. The Mines Act permit has been referred for decision to the BC Ministry of Energy, Mines and Low Carbon Innovation, with Environmental Management Act permits review completed. Final decisions are expected in Q4 2024. The company has established participation agreements with Lhtako Dené Nation and Williams Lake First Nation, but negotiations continue with Xatśūll First Nation. The project received its Environmental Assessment Certificate in October 2023 after addressing over 1,700 comments, and has successfully closed over 1,800 comments during the Mine Review Committee process.
Osisko Development (NYSE: ODV, TSXV: ODV) has announced that its private placement offering of Units has been oversubscribed and fully allocated. The company expects to issue 31,944,700 Units at US$1.80 per Unit, raising total gross proceeds of US$57.5 million. The offering is expected to close around November 12, 2024, subject to necessary approvals from the New York Stock Exchange and TSX Venture Exchange. The securities will have a four-month and one-day hold period from the closing date and have not been registered under the U.S. Securities Act.
Osisko Development Corp (TSXV: ODV) (NYSE: ODV) is advancing sustainable mining operations in Canada and the USA, focusing on past-producing camps. The company emphasizes environmentally responsible mine development, leveraging clean hydroelectric energy through grid access. Their strategy combines ESG innovation with resource development, prioritizing economic benefits while maintaining commitments to local job creation and community engagement.
Osisko Development (NYSE: ODV, TSXV: ODV) has announced a marketed private placement offering of up to 27,778,000 units at US$1.80 per unit, aiming to raise approximately US$50 million. Each unit includes one common share and one purchase warrant exercisable at US$3.00 until October 1, 2029. The Lead Agents have an option to sell an additional 4,166,700 units. The proceeds will fund the advancement of Cariboo and Tintic Projects, partially repay existing credit facility, and support general corporate purposes. The offering is expected to close around November 12, 2024, subject to regulatory approvals.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) has successfully closed its non-brokered private placement, raising US$34.5 million through the issuance of 19,163,410 Units at US$1.80 per Unit. The Offering was completed in two tranches: US$24.2 million on October 1, 2024, and US$10.3 million on October 11, 2024. Each Unit consists of one common share and one warrant, with each warrant allowing the purchase of an additional common share at US$3.00 until October 1, 2029.
The company plans to use the net proceeds to advance its Cariboo Gold Project and Tintic Project, partially repay its existing credit facility, and for general corporate purposes. The securities issued are subject to a four-month and one-day hold period under Canadian securities laws. The Offering is pending final acceptance from the TSX Venture Exchange.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) announces plans to close further tranches of its non-brokered private placement offering, following an oversubscribed first tranche. The company aims to raise up to US$25 million by offering up to 13,888,888 units at US$1.80 per unit. Each unit includes one common share and one warrant, with warrants exercisable at US$3.00 until October 1, 2029. The proceeds will be used to advance the Cariboo Gold Project and Tintic Project, partially repay existing credit facilities, and for general corporate purposes. The offering is subject to TSX Venture Exchange approval, with securities having a four-month hold period. Osisko Development is also exploring other capital sources to refinance its credit facility and advance projects.
Osisko Development (NYSE: ODV, TSXV: ODV) announced plans to close a second tranche of its non-brokered private placement of up to 13,888,888 units at US$1.80 per unit, aiming to raise approximately US$25 million. The second tranche is expected to close around the week of October 14, 2024, pending necessary approvals. Each unit includes one common share and one warrant, allowing the purchase of an additional share at US$3.00 until October 1, 2029. The raised funds will support the Cariboo Gold Project, Tintic Project, and general corporate purposes. All issued securities will be subject to a holding period of four months and one day as per Canadian laws. The offering requires final TSX Venture Exchange acceptance and is not available in the United States or other restricted jurisdictions.