Osisko Development Completes Sale of San Antonio Gold Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Newsfilter
- 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.
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 6.12 USD with a low forecast of 5.76 USD and a high forecast of 6.48 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: 3.850
Low
5.76
Averages
6.12
High
6.48
Current: 3.850
Low
5.76
Averages
6.12
High
6.48
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.








