Project UpdateOct 27, 2026, 07:01 AM
Osisko Gold Project on Track for 2029 Gold Pour
AI Summary
Osisko Gold Group Inc. provided a construction progress update for its Cariboo Gold Project, confirming it remains on schedule for a first gold pour in Q1 2029 and commercial production in H2 2029. The project is approximately 28% complete based on $355 million in incurred costs as of September 30, 2026, with an estimated $907 million remaining to complete construction. Detailed engineering is 42% complete, and over 50% of procurement packages have been awarded. The company also noted a safety performance with a year-to-date TRIFR of 1.05 and an on-site workforce exceeding 400 personnel.
Key Highlights
- Cariboo Gold Project on schedule for Q1 2029 first gold pour and H2 2029 commercial production.
- Project completion estimated at 28% based on $355 million incurred costs as of September 30, 2026.
- Remaining estimated cost to complete construction is approximately $907 million.
- Detailed engineering is approximately 42% complete.
- Over 50% of procurement packages awarded, with approximately $360 million in commitments to date.
- On-site workforce exceeds 400 personnel and continues to ramp up.
- Underground development rates expected to reach approximately 360 meters per month by year-end 2026.
- Valley access and ventilation portals expected to be completed in Q4 2026.
Price Impact
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