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Osisko Development Reports First Quarter 2025 Results
(All dollar amounts are expressed in Canadian dollars, unless stated otherwise) MONTREAL, M...
About this update from Osisko Development Corp
[{"type":"text","content":"Osisko Development Reports First Quarter 2025 Results \n\n\n\n\n (All dollar amounts are expressed in Canadian dollars, unless stated otherwise)\n \n\n\n MONTREAL, May 06, 2025 (GLOBE NEWSWIRE) --\n \n Osisko Development Corp.\n \n (NYSE: ODV, TSXV: ODV) (\"\n \n Osisko Development\n \n \" or the \"\n \n Company\n \n \") reports its financial and operating results for the three months ended March 31, 2025 (\"\n \n Q1 2025\n \n \").\n \n\n\n Q1 2025 HIGHLIGHTS\n \n\n\n\n Operating, Financial and Corporate Updates:\n \n\n\n\n As of March 31, 2025, the Company had approximately $77.6 million in cash and cash equivalents. Approximately $35.7 million (US$25.0 million) was outstanding as of the end of Q1 2025 under the delayed draw term loan with National Bank of Canada, which matures on October 31, 2025.\n \n\n On January 9, 2025, the Company announced the appointment of Mr. David Rouleau as Vice President, Project Development of the Company, and the resignation of Mr. Éric Tremblay as Chief Operating Officer of the Company.\n \n\n On February 3, 2025, the Company released drilling results from its 2024 initial exploration and historic data validation infill drill campaign at its Quesnel River Mine Prospect located within the Company's wider Cariboo Gold Project.\n \n\n On March 26, 2025, the Company appointed Philip Rabenok as Vice President, Investor Relations. Mr. Rabenok joined Osisko Development in November 2022 as Director, Investor Relations.\n \n\n\n\n Cariboo Gold Project – British Columbia, Canada (100%-owned)\n \n\n\n\n\n 2025 Feasibility Study.\n \n On April 28, 2025, the Company released the results of its optimized feasibility study for the Cariboo Gold Project (\"\n \n 2025 FS\n \n \"). The 2025 FS was prepared in accordance with NI 43-101 (as defined herein) by BBA Engineering Ltd. (\"\n \n BBA\n \n \") as lead independent consultant, and supported by other independent engineering firms. The technical report in respect of the 2025 FS will be filed within 45 days of April 28, 2025.\n \n\n The 2025 FS outlines strong base case economics with after-tax NPV5% of $943 million, and unlevered after-tax IRR of 22.1% at a US$2,400/oz gold price assumption. It outlines average annual gold production of 190,000 ounces of gold over a 10-year mine life (202,000 ounces per year in the first five years), producing a tota...