Osisko Development Reports Q2 2025 Results

Osisko Development Corp. has announced its financial and operating results for the second quarter of 2025, ending June 30. The company reported revenues of C$6.9 million and cost of sales of C$4.1 million. These revenues stemmed from the sale of 1,393 ounces of gold from the small-scale heap leach project re-treating tailings and stockpile material at the Tintic Project.

Significant progress is being made on the financing for Osisko Development's Cariboo Gold Project. The company stated that proceeds from brokered and non-brokered private placements, along with a US$450 million project loan credit facility with Appian and other potential arrangements, will provide sufficient funding for project construction. An optimized feasibility study (2025 FS) released in April 2025 outlines an average annual gold production of 190,000 ounces over a 10-year mine life.

As of June 30, 2025, the company held approximately C$46.3 million in cash and cash equivalents. Subsequent to the quarter end, a term loan of approximately C$34.2 million with National Bank of Canada was fully repaid in connection with the Appian 2025 Financing Facility.

Osisko Development also reported corporate updates, including the granting of stock options and restricted share units to officers and employees in May 2025. Susan Craig was appointed as an independent director to the company's board in June 2025.