Core Viewpoint - Osisko Development Corp. announced positive results from the optimized Feasibility Study for the Cariboo Gold Project, confirming strong economics for a low-impact underground operation with favorable operating costs and capital requirements [2][3]. Project Overview - The Cariboo Gold Project is a 100%-owned, permitted gold project located in central British Columbia, Canada, designed as a traditional underground operation using mechanized bulk mining methods [2][5]. - The 2025 Feasibility Study (FS) was completed by BBA Engineering Ltd. and adheres to National Instrument 43-101 standards [2]. Economic Metrics - The base case gold price is set at $2,400/oz, with a net present value (NPV) of $943 million and an internal rate of return (IRR) of 22.1% [5][6]. - Under a spot case scenario with a gold price of $3,300/oz, the NPV increases to $2,066 million, and the IRR rises to 38.0% [5][6]. - Average annual free cash flow is projected at $158 million, with $296 million in the first five years [6][9]. Production and Costs - The project anticipates an average annual production of approximately 190,000 ounces of gold over a 10-year mine life, with first gold expected in the second half of 2027 [6][34]. - The average all-in sustaining costs (AISC) are estimated at $1,157/oz, placing the project in the lower half of the global cost curve for gold mines [6][9]. Improvements from Previous Studies - The 2025 FS incorporates significant improvements over the 2023 FS, including a streamlined processing facility and enhanced metallurgical recovery, resulting in an overall gold recovery of 92.6% [6][7][50]. - The average stope size has increased by approximately 60%, reducing the total number of stopes required [11][38]. Capital Expenditures - Initial capital costs are estimated at $881 million, with sustaining capital costs over the life of the mine projected at $525 million [6][69]. - Total cumulative capital costs, including reclamation and closure costs, are estimated at $1,307 million [69]. Permitting and Community Engagement - The project has received necessary permits, including the Environmental Assessment Certificate and Mines Act permits, solidifying its shovel-ready status [72][73]. - The company is committed to engaging with Indigenous nations and local communities to ensure mutual benefits from the project [73][76]. Future Opportunities - There are significant opportunities for further optimization and enhancement of the project's economics, which will be detailed in the forthcoming Technical Report [77][78].