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, TSXV: ODV) has announced key management changes, appointing David Rouleau as Vice President, Project Development. This appointment supports the company's focus on developing its 100%-owned Cariboo Gold Project in central British Columbia. The company also announced the immediate departure of Éric Tremblay, Chief Operating Officer, who is leaving to pursue other opportunities in the mining sector.
Rouleau, who brings over 35 years of operational and management experience, will provide senior leadership during the transition period until a permanent COO is appointed. His extensive background includes roles at Victoria Gold, Barkerville Gold Mines, Taseko Mines, and Teck Cominco. The company has initiated an executive search for the COO position and will provide updates accordingly.
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) has granted 80,000 deferred share units (DSUs) to independent director Mr. Stephen Quin, following his recent appointment to the company's board of directors on December 5, 2024. The DSUs were issued in accordance with the company's DSU plan, which can be accessed on Osisko Development's website.
Osisko Development (NYSE: ODV) has completed 100% of the underground development (approximately 1,172 meters) at its Cariboo Gold Project in British Columbia, Canada. The company is preparing to extract a 10,000 metric tonnes bulk sample from the Lowhee Zone, with blasting and extraction expected in the coming weeks.
Results from the bulk sample are anticipated in Q1 2025, supporting an optimized feasibility study scheduled for completion in Q2 2025. The extracted material will undergo ore sorter testing at Tomra's facility in Saskatoon and will be processed into concentrate, providing grade reconciliation data relative to the resource model and validating ore sorting assumptions.
Osisko Development Corp (NYSE: ODV, TSXV: ODV) announced the immediate resignation of Ms. Marina Katusa from the company's board of directors. The company expressed gratitude for her service as a director.
Osisko Development (NYSE: ODV) has secured Environmental Management Act permits for its 100%-owned Cariboo Gold Project in British Columbia, Canada. Combined with previously obtained BC Mines Act permits from November 20, 2024, the project is now construction and operation ready. The company expects to complete ongoing bulk sample and underground development work in Q1 2025, with an optimized feasibility study due in Q2 2025.
Full-scale construction could begin in second half of 2025, targeting completion by end of 2027, subject to final investment decision and project financing. The company received multiple permits including Mines Act permits for Mine Site Complex, Bonanza Ledge, and QR Mill, along with Environmental Management Act Permits for these facilities. Work continues with relevant ministries for transmission line construction approvals.
Osisko Development (NYSE: ODV, TSXV: ODV) has appointed Stephen Quin as an independent director to its board, effective immediately. Quin brings over 40 years of mining industry experience, including significant expertise in mine development, operations, and capital markets. His track record includes serving as President & CEO of Midas Gold Corp, President & COO of Capstone Mining, and President & CEO of Sherwood Copper.
Notable achievements include successfully permitting, funding, and constructing the Minto copper-gold mine in Yukon, Canada, on time and budget. Quin has led more than 30 project studies, raised over C$1 billion in financing, and been involved in M&A transactions exceeding C$750 million. He currently serves on the boards of Hot Chili , Bravo Mining Corp, and chairs TDG Gold Corp.
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.