Osisko Development's Cariboo Gold Project Feasibility Study Shows C$943 Million NPV

Osisko Development Corp. announced on April 28, 2025, the results of an optimized feasibility study for its Cariboo Gold Project in central British Columbia. The study projects an after-tax net present value (NPV) of C$943 million and an internal rate of return (IRR) of 22.1% based on a US$2,400 per ounce gold price assumption. At a higher gold price of US$3,300 per ounce, the NPV increases to C$2.07 billion with an IRR of 38.0%.

The study outlines potential for average annual production of approximately 190,000 ounces of gold over a 10-year mine life, with first gold production anticipated in the second half of 2027. Construction is planned to commence in Q3 2025, subject to project financing discussions. This timeline relies on a single-phase construction approach, targeting completion within 24 months.

Initial capital costs are estimated at C$881 million, with sustaining capital over the mine life projected at C$525 million. The project's operating costs are forecast to be competitive, with an average total cash cost (TCC) of US$947 per ounce and all-in sustaining costs (AISC) of US$1,157 per ounce over the life of the mine (LOM).

Osisko Development has stated that a formal investment decision and the securing of a project financing package are expected in the coming months. The optimized study incorporates streamlined processing facilities into a single location and an improved flowsheet design. The project is also expected to generate significant local employment, creating up to 613 jobs during peak construction and 525 permanent positions during operations.