Osisko Development Acquires $1.2 Million in Niobay Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: Globenewswire
- Acquisition Transaction: Osisko Development, through its wholly-owned subsidiary Barkerville Gold Mines, acquired 8,571,429 units of Niobay at $0.14 per unit for a total of $1.2 million, demonstrating confidence in Niobay's potential.
- Increased Ownership Stake: Following this transaction, Osisko Development and its joint actor EEM increased their ownership from 10.8% to 12.3%, with a diluted ownership of 16.2%, thereby enhancing their control over Niobay.
- Clear Investment Intent: Osisko Development stated that this acquisition is for investment purposes, indicating a potential for further share purchases based on market conditions, reflecting optimism about Niobay's long-term growth prospects.
- Regulatory Compliance: Osisko Development will file an early warning report with Canadian securities regulators, ensuring transparency and compliance, which further bolsters investor confidence.
ODV
$3.67+Infinity%1D
Analyst Views on ODV
Wall Street analysts forecast ODV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ODV is 5.36 USD with a low forecast of 5.00 USD and a high forecast of 5.71 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 3.680
Low
5.00
Averages
5.36
High
5.71
Current: 3.680
Low
5.00
Averages
5.36
High
5.71
About ODV
Osisko Development Corp. is a gold development company focused on past-producing mining camps. Its projects include Cariboo Gold Project, Tintic Project, and San Antonio Gold Project in Sonora, Mexico. The Cariboo Gold Project is an advanced stage feasibility level gold project located in central British Columbia in the historical Wells-Barkerville mining camp. The total land package covers an area of 92,000 hectares (ha) and includes approximately 80 kilometers (km) strike of mineral targets. The Tintic Project is in western Utah County 95 km south of Salt Lake City. Its San Antonio Project is a past-producing oxide copper mine located in the state of Sonora, Mexico. Its James Bay Properties cover approximately 86,000 ha. It also operates Guerrero Properties located in Guerrero, Mexico totaling 9,600 square kilometers (km2) of tenements and 11,800 km2 area covered with dense stream sediment sampling.
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.
