Osisko Development Resumes Site Activities at Cariboo Gold Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 02 2026
0mins
Should l Buy ODV?
Osisko Development announces the resumption of planned site activities at its Cariboo Gold Project in British Columbia, following a temporary suspension related to an isolated tragic incident that occurred at surface on January 22. A phased gradual reopening plan of surface and underground activities was successfully implemented over the last several weeks, while ensuring the health and safety of all employees and contractors, in coordination with and approval from the relevant regulatory authorities. There are currently over 250 personnel onsite, reflecting normal operating levels for the current phase of work, supporting the advancement of pre-construction, early works and exploration drilling activities, including: Water treatment plant: Upgrades to the Bonanza Ledge water treatment plant are in the final stages of commissioning and the facility is anticipated to be fully operational in the coming weeks. Underground development: To date, approximately 2.1 kilometres of underground development has been completed from the existing Cow Portal into the Lowhee Zone, and along the main access ramp, through the Lowhee fault, towards the Cow Mountain Zone. Development progress has been below plan while encountering challenging ground conditions in and around the Lowhee fault, requiring enhanced ground support. Development rates are expected to improve as the ramp advances beyond this zone. Lowhee infill program: Infill drilling has resumed and is underway, with approximately 1.6 km remaining in the final drill fan under the ongoing 13-km underground program on the 1260 level. Additional exploration and infill drilling is also ongoing on the 1290 level. A total of three drill rigs are currently operating underground. Surface exploration: A total of six drill rigs are currently operating on two exploration programs. Three drill rigs are targeting exploration below the current extent of the Cariboo Gold deposit down to a depth of 1,000 meters. Approximately 5,000 meters of drilling have been completed to date, with assays pending. A second surface exploration program on the adjacent Proserpine regional target has also commenced with three drill rigs, and approximately 500 meters completed to date. Surface infrastructure: Construction of the waste rock storage facility, the sediment control pond, early works in the mine site complex area and other critical infrastructure continues. Camp upgrade: The upgrade and expansion of the site camp to 266 rooms is complete and is expected to provide accommodation capacity aligned with peak construction manpower requirements for the Project.
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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: 3.250
Low
5.76
Averages
6.12
High
6.48
Current: 3.250
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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- Q4 Revenue: Osisko Development reported Q4 revenue of C$24.2 million, reflecting ongoing growth in its small-scale mining activities, particularly the performance at the Tintic Project.
- Cash Position: The company holds approximately C$422.3 million in cash and cash equivalents, providing a solid foundation for future investments and expansions, thereby enhancing its financial stability.
- Gold Sales Performance: Osisko sold 3,970 ounces of gold from the Tintic Project, demonstrating the effectiveness and profitability of its small-scale mining operations, further solidifying its position in the gold market.
- Financing Initiative: The company launched a C$125 million bought-deal share offering aimed at supporting future project financing, a move that will help accelerate the implementation of its development strategy.
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- Stock Option Details: The options have an exercise price of C$4.51 per share, based on the closing price on March 31, 2026, and will vest in three equal installments over the next three years, which is expected to enhance executive performance orientation and drive overall company performance improvements.
- Restricted Share Units Arrangement: The RSUs will cliff vest on April 1, 2029, and are subject to time and performance conditions, which not only helps attract and retain key talent but also incentivizes them to contribute to the company's long-term growth.
- Strategic Development Goals: Osisko Development focuses on developing its 100%-owned Cariboo Gold Project, aiming to become an intermediate gold producer, demonstrating its strategic positioning and market potential in the North American gold development sector.
See More
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- Successful Financing: The completion of a CAD 82.5 million private placement financing provides essential funds to advance the Cariboo Gold Project, ensuring the project's continued development.
- Significant Project Progress: In the Cariboo Gold Project, approximately 80% of the planned drilling has been completed, totaling 11,025 meters, which is expected to provide critical data for resource modeling and mine planning, enhancing the project's economic viability.
- Management Changes: The company appointed Scott Smith as Vice President of Exploration and completed the sale of the San Antonio Gold Project, further optimizing its asset portfolio and enhancing strategic flexibility.
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- Asset Allocation: Endeavour Silver now accounts for 4.4% of Condire's $958 million AUM across 22 positions, highlighting the company's potential in the precious metals sector.
- Market Performance: As of February 17, Endeavour Silver's stock price was $11.24, with a remarkable 141.4% increase over the past year, significantly outperforming the S&P 500's 21.6% and Nasdaq's 29.1%, showcasing robust market performance.
- Future Outlook: While precious metal prices continue to rise, their future direction remains uncertain, prompting investors to carefully assess whether Condire's confidence will lead to sustained share price growth.
See More
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- Investment Strategy: This increase accounts for 50% of Condire's previous 3 million share position, indicating strong confidence in Endeavour Silver's growth potential, particularly amid robust performance in the precious metals market.
- Market Performance: As of March 11, Endeavour Silver's stock price surged 141.4% over the past year, significantly outperforming the S&P 500's 21.6% and the Nasdaq Composite's 29.1%, showcasing its competitive edge in the precious metals sector.
- Investment Risks: While Condire's stake increase reflects confidence in Endeavour Silver, analysts caution that the future volatility of precious metal prices poses risks, urging investors to carefully assess the stock's investment value.
See More
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- Warrant Specifications: The warrants were issued at an exercise price of C$4.43 per share on July 21, 2025, to support a US$450 million senior secured project loan, facilitating the development and construction of the Cariboo Gold Project.
- Project Overview: The Cariboo Gold Project, located in central British Columbia, is fully permitted, and Osisko aims to become an intermediate gold producer, highlighting its strategic objectives in North American gold development.
- Future Prospects: The company is also exploring the Tintic Project in Utah, leveraging extensive historical mining data and established infrastructure, indicating Osisko's long-term asset development strategy in mining-friendly jurisdictions aimed at sustainable growth.
See More
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- Q4 Revenue: Osisko Development reported Q4 revenue of C$24.2 million, reflecting ongoing growth in its small-scale mining activities, particularly the performance at the Tintic Project.
- Cash Position: The company holds approximately C$422.3 million in cash and cash equivalents, providing a solid foundation for future investments and expansions, thereby enhancing its financial stability.
- Gold Sales Performance: Osisko sold 3,970 ounces of gold from the Tintic Project, demonstrating the effectiveness and profitability of its small-scale mining operations, further solidifying its position in the gold market.
- Financing Initiative: The company launched a C$125 million bought-deal share offering aimed at supporting future project financing, a move that will help accelerate the implementation of its development strategy.
See More
Osisko Development Grants Stock Options and RSUs to Executives
- Incentive Awards Program: Osisko Development has granted a total of 1,104,400 stock options and 1,426,600 restricted share units to senior officers and non-executive employees as part of its annual compensation review, reflecting the company's commitment to talent retention and aiming to enhance employee loyalty and motivation over the long term.
- Stock Option Details: The options have an exercise price of C$4.51 per share, based on the closing price on March 31, 2026, and will vest in three equal installments over the next three years, which is expected to enhance executive performance orientation and drive overall company performance improvements.
- Restricted Share Units Arrangement: The RSUs will cliff vest on April 1, 2029, and are subject to time and performance conditions, which not only helps attract and retain key talent but also incentivizes them to contribute to the company's long-term growth.
- Strategic Development Goals: Osisko Development focuses on developing its 100%-owned Cariboo Gold Project, aiming to become an intermediate gold producer, demonstrating its strategic positioning and market potential in the North American gold development sector.
See More
Osisko Development Reports Q4 2025 Financial and Operational Results
- Strong Financial Position: As of December 31, 2025, the company reported approximately CAD 422.3 million in cash and cash equivalents, indicating robust liquidity that supports future project development and operations.
- Successful Financing: The completion of a CAD 82.5 million private placement financing provides essential funds to advance the Cariboo Gold Project, ensuring the project's continued development.
- Significant Project Progress: In the Cariboo Gold Project, approximately 80% of the planned drilling has been completed, totaling 11,025 meters, which is expected to provide critical data for resource modeling and mine planning, enhancing the project's economic viability.
- Management Changes: The company appointed Scott Smith as Vice President of Exploration and completed the sale of the San Antonio Gold Project, further optimizing its asset portfolio and enhancing strategic flexibility.
See More
Condire Management Increases Stake in Endeavour Silver
- Increased Holdings: Condire Management increased its position in Endeavour Silver by 1,503,543 shares during Q4, bringing total holdings to 4,503,543 shares valued at $42.3 million, indicating strong confidence in the company.
- Asset Allocation: Endeavour Silver now accounts for 4.4% of Condire's $958 million AUM across 22 positions, highlighting the company's potential in the precious metals sector.
- Market Performance: As of February 17, Endeavour Silver's stock price was $11.24, with a remarkable 141.4% increase over the past year, significantly outperforming the S&P 500's 21.6% and Nasdaq's 29.1%, showcasing robust market performance.
- Future Outlook: While precious metal prices continue to rise, their future direction remains uncertain, prompting investors to carefully assess whether Condire's confidence will lead to sustained share price growth.
See More
Condire Management Increases Stake in Endeavour Silver
- Stake Increase: Condire Management added 1,503,543 shares of Endeavour Silver in Q4, bringing its total holdings to 4,503,543 shares valued at $42.33 million, now representing 4.4% of the fund's assets.
- Investment Strategy: This increase accounts for 50% of Condire's previous 3 million share position, indicating strong confidence in Endeavour Silver's growth potential, particularly amid robust performance in the precious metals market.
- Market Performance: As of March 11, Endeavour Silver's stock price surged 141.4% over the past year, significantly outperforming the S&P 500's 21.6% and the Nasdaq Composite's 29.1%, showcasing its competitive edge in the precious metals sector.
- Investment Risks: While Condire's stake increase reflects confidence in Endeavour Silver, analysts caution that the future volatility of precious metal prices poses risks, urging investors to carefully assess the stock's investment value.
See More
Osisko Development Secures C$24.9 Million from Warrant Exercise
- Financing Details: Osisko Development Corp. has secured approximately C$24.9 million through the exercise of 5,625,031 common share purchase warrants held by Appian Capital Advisory Limited, reflecting market confidence in its Cariboo Gold Project.
- Warrant Specifications: The warrants were issued at an exercise price of C$4.43 per share on July 21, 2025, to support a US$450 million senior secured project loan, facilitating the development and construction of the Cariboo Gold Project.
- Project Overview: The Cariboo Gold Project, located in central British Columbia, is fully permitted, and Osisko aims to become an intermediate gold producer, highlighting its strategic objectives in North American gold development.
- Future Prospects: The company is also exploring the Tintic Project in Utah, leveraging extensive historical mining data and established infrastructure, indicating Osisko's long-term asset development strategy in mining-friendly jurisdictions aimed at sustainable growth.
See More
