Osisko Development Reports First Quarter 2026 Financial Results

Osisko Development Corp. has released its financial and operational results for the first quarter of 2026, concluding on March 31, 2026. The company reported approximately C$594.3 million in cash and cash equivalents at the end of the reporting period.

During the first quarter, Osisko Development completed a public offering that raised gross proceeds of approximately US$143.8 million. The company also reported approximately C$36.5 million in proceeds from the exercise of warrants and finalized the sale of its San Antonio Gold Project in Mexico.

Activities at the Cariboo Gold Project have resumed following a temporary suspension due to a fatal incident in January 2026. The company stated that a phased reopening plan was implemented in coordination with regulatory authorities. A project and construction management services agreement was entered into with JDS Energy & Mining. The infill drilling program at the Lowhee Zone has been completed, with final assay results pending.

Additionally, Osisko Development reported revenue of C$2.2 million from small-scale mining activities at the Tintic Project, generating C$0.7 million in cost of sales and a C$9.7 million operating loss. The company also announced two new vice president appointments: Sarah Harrison as VP, Permitting & Compliance, and Sarah MacDonald as VP, Construction Contracting and Commercial.