Osisko Development (US:ODV) Globenewswire·2025-11-10 12:00Core Insights - Osisko Development Corp. reported its financial and operational results for Q3 2025, highlighting significant cash reserves and ongoing project developments [2][3]. Financial Highlights - The company had approximately $401.4 million in cash and cash equivalents as of September 30, 2025 [5]. - Revenues for Q3 2025 were $4.4 million, a substantial increase from $0.2 million in Q3 2024, generated from the sale of 877 gold ounces from the Tintic small-scale heap leach project [5]. - The company completed private placements for approximately $280.4 million (US$203.1 million) in gross proceeds during the quarter [4][5]. Project Developments - The Cariboo Gold Project is advancing with pre-construction activities and underground mine development, including a 13,000-meter infill drill program [4][9]. - The company sold 877 ounces of gold from the Tintic project and plans to continue small-scale operations into Q4 2025 [18]. - The San Antonio Gold Project remains in care and maintenance, with plans to re-submit mining permit applications [19]. Financing Activities - Osisko Development drew approximately $137.2 million (US$100.0 million) under a US$450 million financing facility with Appian Capital Advisory Limited [4][5]. - An additional private placement for approximately $82.5 million in gross proceeds was completed [4][5]. Upcoming Milestones - Key milestones for the Cariboo Gold Project include underground development completion in Q4 2025, with remaining costs estimated at $7.9 million [14]. - The company expects to complete the infill drilling program by Q1 2026, with remaining costs of $2.6 million [14].