Osisko Development's Cariboo Gold Project Shows Optimized Feasibility Study Results
Osisko Development Corp. has released an optimized feasibility study for its Cariboo Gold Project in British Columbia. The study indicates an after-tax net present value of C$943 million and an internal rate of return of 22.1% at a base case gold price of US$2,400 per ounce.
Montreal, Québec – Osisko Development Corp. announced results from an optimized Feasibility Study (FS) for its Cariboo Gold Project in central British Columbia. The study projects an after-tax net present value of C$943 million and an unlevered after-tax internal rate of return (IRR) of 22.1%, based on a gold price assumption of US$2,400 per ounce.
The project envisions a 10-year mine life with average annual gold production of approximately 190,000 ounces. First gold production is anticipated in the second half of 2027, following a planned construction start in Q3 2025, subject to financing arrangements. The project is expected to create up to 613 direct jobs during construction and 525 permanent operational jobs.
Total initial capital costs are estimated at C$881 million, with sustaining capital totaling C$525 million over the life of the mine. Average total cash costs (AISC) are projected at US$1,157 per ounce, positioning the Cariboo project favorably on the global cost curve for gold mines.
Osisko Development highlighted that the study confirms strong economics for an underground operation with manageable capital requirements and attractive operating costs. The company is now focused on advancing project financing discussions to reach a final investment decision, noting opportunities to potentially enhance project economics and extend mine life through further exploration and resource conversion.