Osisko Development Reports Q1 2026 Financial Results and Cariboo Project Update
Osisko Development Corp. announced its financial and operating results for the first quarter of 2026, ending March 31. The company reported approximately $594.3 million in cash and cash equivalents. Revenue of $2.2 million was generated from the sale of 270 ounces of gold at the Tintic Project, resulting in a significantly reduced operating loss compared to the previous year. A major corporate milestone was the completion of a prospectus offering of common shares, raising approximately US$143.8 million in gross proceeds. Operationally, the Cariboo Gold Project resumed activities under a phased reopening plan following a temporary suspension due to a fatal incident in January 2026. The company also entered into a construction management agreement with JDS Energy & Mining and completed 100% of planned infill drilling in the Lowhee Zone. Additionally, Osisko finalized the sale of its San Antonio Gold Project in Mexico and appointed new vice presidents for permitting and construction contracting. These developments highlight the company's focus on advancing the Cariboo project while strengthening its balance sheet through strategic financing and asset optimization.
Wire timeline
Osisko Development Reports Q1 2026 Financial Results and Cariboo Project Update
Osisko Development Corp. announced its financial and operating results for the first quarter of 2026, ending March 31. The company reported approximately $594.3 million in cash and cash equivalents. Revenue of $2.2 million was generated from the sale of 270 ounces of gold at the Tintic Project, resulting in a significantly reduced operating loss compared to the previous year. A major corporate milestone was the completion of a prospectus offering of common shares, raising approximately US$143.8 million in gross proceeds. Operationally, the Cariboo Gold Project resumed activities under a phased reopening plan following a temporary suspension due to a fatal incident in January 2026. The company also entered into a construction management agreement with JDS Energy & Mining and completed 100% of planned infill drilling in the Lowhee Zone. Additionally, Osisko finalized the sale of its San Antonio Gold Project in Mexico and appointed new vice presidents for permitting and construction contracting. These developments highlight the company's focus on advancing the Cariboo project while strengthening its balance sheet through strategic financing and asset optimization.
Montreal Gazette