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: 4.260
Low
5.76
Averages
6.12
High
6.48
Current: 4.260
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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See More
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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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- Holding Proportion Change: As of December 2025, Equinox's stake in Osisko was reduced to 573,739 shares valued at approximately $1.94 million, now representing 1.02% of its reportable U.S. equity assets, reflecting a diminished confidence in the company.
- Market Performance Comparison: Osisko Development's stock price surged nearly 230% over the past year, significantly outperforming the S&P 500's roughly 16% gain during the same period, showcasing the company's strong performance in the gold mining sector.
- Project Financing Dynamics: Recently, Osisko raised about $143.8 million through a bought deal offering priced at $3.54 per share to support drilling and exploration at its Cariboo Gold project, which, while providing necessary funding, also introduces dilution risk for investors, emphasizing the importance of position sizing in volatile markets.
See More
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- Underground Development Progress: Approximately 2.1 kilometers of underground development has been completed, although progress has been below plan due to challenging geological conditions around the Lowhee fault; however, development rates are expected to improve as the ramp advances beyond this zone.
- Water Treatment Facility Upgrade: The upgrades to the Bonanza Ledge water treatment plant are in the final stages of commissioning and are anticipated to be fully operational in the coming weeks, significantly enhancing the project's environmental management capabilities.
- Exploration Drilling Activities: Six drill rigs are currently operating on surface exploration, with approximately 5,000 meters drilled to date and assays pending, which will provide critical data support for future resource assessments and development.
See More
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- Complete Exit: According to a February 17, 2026 SEC filing, Condire Management fully exited its position in SSR Mining by selling 3,353,891 shares for an estimated $81.90 million, indicating a significant shift in the fund's investment strategy.
- Strong Stock Performance: As of February 17, 2026, SSR Mining shares were priced at $25.91, reflecting a remarkable 183% increase over the past year, significantly outperforming the S&P 500 by 171.58 percentage points, driven by surging gold prices.
- Optimistic Future Outlook: SSR Mining projects a 10% increase in gold equivalent ounce production for 2026 and reported $241.6 million in free cash flow for 2025, showcasing the company's robust performance and financial health in the gold market.
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