Osisko Development Sells San Antonio Gold Project for 15.3M Axo Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 24 2025
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Should l Buy ODV?
Source: Newsfilter
- Transaction Overview: Osisko Development has signed a purchase agreement with Axo Copper Corp. to sell the San Antonio Gold Project located in Sonora, Mexico, expected to close in 2025. This transaction will grant Osisko 15,305,536 Axo common shares, representing a 9.99% stake in Axo's outstanding shares.
- Additional Benefits: In addition to shares, Osisko will receive cash payments related to the project, including 70% of any value-added tax refunds and $2 million contingent payments upon feasibility study and first gold pour completion. These payments will enhance the company's cash flow and financial flexibility.
- Strategic Shift: Osisko stated that the sale aligns with its strategy to focus on priority development assets, believing Axo is well-positioned to advance the project. This decision reflects an optimization of resource allocation aimed at improving overall investment returns.
- Market Reaction: The transaction is subject to customary closing conditions from the TSX Venture Exchange, and Osisko will hold its Axo shares for at least 12 months post-transaction. This move may influence market expectations regarding Osisko's future, particularly in its strategic positioning within gold development.
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Analyst Views on ODV
Wall Street analysts forecast ODV stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 3.760
Low
5.76
Averages
6.12
High
6.48
Current: 3.760
Low
5.76
Averages
6.12
High
6.48
About ODV
Osisko Development Corp. is a continental North American gold development company focused on past-producing mining camps. Its projects include Cariboo Gold Project and Tintic Project. The Cariboo Gold Project is a 100% owned gold and silver project covers an area of over 192,000 hectares (ha) land package and it is located in British Columbia, Canada. The Tintic Project is an exploration and development stage precious and base metal property, located in western Utah County, 95 south of Salt Lake City. The Tintic Project encompasses the East Tintic District with 23 past-producing mines and includes the Trixie gold deposit, one of several gold and base metal targets, including porphyry, epithermal and carbonate targets within the project boundaries. Its James Bay Properties cover approximately 86,000 ha in northern Quebec Canada. Its exploration metals include lithium and precious metals.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- High-Grade Gold Discoveries: The latest drilling results include a highlight from hole BMU-25-132, which showed 596.40 g/t gold, with a peak of 2,293.56 g/t at 6.6 meters downhole, significantly enhancing the economic potential of the area and potentially impacting future mining plans.
- Project Timeline: The infill drilling program is anticipated to conclude in early Q2 2026, and as drilling progresses, it is expected to further optimize production designs and sequencing, thereby improving overall operational efficiency.
- Resource Assessment Update: Approximately 12.1 kilometers of drilling has been completed, accounting for about 88% of the planned total, and this data will be used to update resource assessments, potentially supporting the addition of new reserves and enhancing the project's long-term value.
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- Enhanced Management Expertise: JDS's extensive experience in project and construction management will provide additional capacity and structure for planning and execution at the Cariboo Gold Project, ensuring disciplined progress and enhancing Osisko's competitiveness in gold mining development.
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- Potential Earnings: The transaction includes future cash payments and stock options, with Osisko expected to receive $2 million in cash or up to 9,398,496 Axo shares upon Axo's public filing of a feasibility study, further improving the company's financial flexibility.
- Financing Conditions: Should Axo raise over $10 million in equity financing, Osisko will retain a 9.99% interest in Axo, reflecting the company's strategic positioning for future market opportunities and ensuring long-term benefits.
- Legal Support: Bennett Jones LLP acted as legal advisor to Osisko in this transaction, ensuring compliance and smooth execution, showcasing the company's expertise in navigating complex deals.
See More
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- Drilling Progress: As of February 11, 2026, Osisko Development has completed 11,025 meters of infill drilling at its Cariboo Gold Project's Lowhee Zone, representing approximately 80% of the planned 13,000 meters, which will provide more precise data for future resource modeling.
- High-Grade Gold Discoveries: The latest drilling results include a highlight from hole BMU-25-132, which showed 596.40 g/t gold, with a peak of 2,293.56 g/t at 6.6 meters downhole, significantly enhancing the economic potential of the area and potentially impacting future mining plans.
- Project Timeline: The infill drilling program is anticipated to conclude in early Q2 2026, and as drilling progresses, it is expected to further optimize production designs and sequencing, thereby improving overall operational efficiency.
- Resource Assessment Update: Approximately 12.1 kilometers of drilling has been completed, accounting for about 88% of the planned total, and this data will be used to update resource assessments, potentially supporting the addition of new reserves and enhancing the project's long-term value.
See More
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- Project Management Partnership: Osisko Development's wholly-owned subsidiary, Barkerville Gold Mines, has signed a Project and Construction Management Services Agreement with JDS Energy & Mining to advance the Cariboo Gold Project in British Columbia, indicating a more integrated approach to project delivery.
- Enhanced Management Expertise: JDS's extensive experience in project and construction management will provide additional capacity and structure for planning and execution at the Cariboo Gold Project, ensuring disciplined progress and enhancing Osisko's competitiveness in gold mining development.
- Company Background: Founded in 2004, JDS boasts a diverse team known for delivering tailored solutions, with a proven track record in executing projects on budget and on schedule, including past successes like the Minto Mine and Gahcho Kue Mine.
- Strategic Objectives: Osisko Development aims to become an intermediate gold producer, with the Cariboo Gold Project as its flagship, fully permitted and 100%-owned, expected to significantly support the company's future growth and mineral inventory expansion.
See More
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- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
See More
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- New VP Appointment: Osisko Development has appointed Sarah Harrison as Vice President of Permitting and Compliance effective February 2, 2026, aiming to enhance the company's compliance capabilities within the western Canadian mining ecosystem and improve project management efficiency.
- Extensive Industry Experience: Harrison brings over 13 years of experience in environmental assessment, reclamation, and regulatory compliance, having managed major permit amendments for large-scale mining projects, ensuring smooth project progression.
- Previous Role Background: Prior to joining Osisko, Harrison served as Project Manager at JDS Energy & Mining, overseeing compliance in the Environmental Division, and held the position of Environmental Manager at Artemis Gold's Blackwater Gold Mine, accumulating significant hands-on experience.
- Company Development Strategy: Osisko Development focuses on developing gold projects with district-scale potential, aiming to become an intermediate gold producer through its 100%-owned Cariboo Gold Project, and Harrison's expertise will further drive the implementation of this strategy.
See More
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See More
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- Transaction Completion: Osisko Development has successfully sold its 100% interest in the San Antonio Gold Project located in Sonora, Mexico, receiving 15,325,841 Axo common shares, representing a 9.99% stake, thereby enhancing its capital base in gold mining development.
- Potential Earnings: The transaction includes future cash payments and stock options, with Osisko expected to receive $2 million in cash or up to 9,398,496 Axo shares upon Axo's public filing of a feasibility study, further improving the company's financial flexibility.
- Financing Conditions: Should Axo raise over $10 million in equity financing, Osisko will retain a 9.99% interest in Axo, reflecting the company's strategic positioning for future market opportunities and ensuring long-term benefits.
- Legal Support: Bennett Jones LLP acted as legal advisor to Osisko in this transaction, ensuring compliance and smooth execution, showcasing the company's expertise in navigating complex deals.
See More
