Osisko Development Reports Second Quarter 2025 Results

Core Insights - Osisko Development Corp. reported its financial and operational results for Q2 2025, highlighting significant developments in its Cariboo Gold Project and other projects [1][2]. Financial Performance - The company had approximately CAD 46.3 million in cash and cash equivalents as of June 30, 2025 [6]. - Revenues for Q2 2025 were CAD 6.9 million, compared to CAD 2.6 million in Q2 2024, with a cost of sales of CAD 4.1 million [6]. Cariboo Gold Project - The 2025 Feasibility Study (FS) for the Cariboo Gold Project indicates a net present value (NPV) of CAD 943 million at a gold price of USD 2,400 per ounce, with an internal rate of return (IRR) of 22.1% [4][6]. - The project is expected to produce an average of 190,000 ounces of gold annually over a 10-year mine life, totaling 1.89 million ounces [6]. - The average all-in sustaining cost (AISC) is projected at USD 1,157 per ounce [4]. Tintic Project - The Tintic Project remains in care and maintenance, with limited activities expected to continue [8][6]. - The company is evaluating options for the next steps at the Tintic Project while focusing on the Cariboo Gold Project [6]. Strategic Developments - The company has entered into a credit agreement for a senior secured project loan credit facility totaling USD 450 million for the Cariboo Gold Project [15]. - A private placement is expected to generate approximately USD 195 million, which will support the development of the Cariboo Gold Project [16]. Upcoming Milestones - Key upcoming expenditures for the Cariboo Gold Project include CAD 3.1 million for underground development and CAD 5.9 million for Bonanza Ledge construction, both expected to be completed in Q4 2025 [11][12]. Operational Updates - A small-scale heap leach project at the Tintic Project sold 1,393 gold ounces in Q2 2025, with operations anticipated to continue into Q4 2025 [6][8]. - The company has completed a 13,000-meter infill drill program to inform resource modeling and mine planning [6]. Corporate Governance - Ms. Susan Craig was appointed as an independent director to the company's board on June 16, 2025 [6]. Technical Reports - The 2025 FS was prepared in accordance with NI 43-101 standards and outlines strong economic indicators for the Cariboo Gold Project [6][19].