Quarterly ResultMay 11, 2026, 05:52 PM
Osisko Development Q1 2026 Cash $594.3M; Cariboo Project Resumes
AI Summary
Osisko Development Corp. reported its Q1 2026 financial and operating results, highlighting approximately $594.3 million in cash and cash equivalents. The company completed a prospectus offering raising ~US$143.8 million and received ~$36.5 million from warrant exercises. Operations at the Cariboo Gold Project resumed under a phased reopening plan following a fatal incident, with infill drilling 100% complete and significant underground development progress. The company also completed the sale of the San Antonio Gold Project and generated $2.2 million in revenue from small-scale gold sales at the Tintic Project.
Key Highlights
- Cash and cash equivalents totaled ~$594.3 million as of March 31, 2026.
- Completed a prospectus offering of common shares for ~US$143.8 million in gross proceeds.
- Received ~$36.5 million in proceeds from warrant exercises during Q1 2026.
- Sold 270 ounces of gold from Tintic Project, generating $2.2 million in revenue.
- Cariboo Gold Project's 13,000-meter infill drill program is 100% complete (13,684 meters).
- Approximately 2.1 km of underground development completed at Cariboo Gold Project.
- Cariboo Gold Project camp upgrade and expansion to 266 rooms is complete.
- Eleven drill rigs are currently operating at the Cariboo Gold Project.