Osisko Development Resumes Site Activities at Cariboo Gold Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy ODV?
Osisko Development announces the resumption of planned site activities at its Cariboo Gold Project in British Columbia, following a temporary suspension related to an isolated tragic incident that occurred at surface on January 22. A phased gradual reopening plan of surface and underground activities was successfully implemented over the last several weeks, while ensuring the health and safety of all employees and contractors, in coordination with and approval from the relevant regulatory authorities. There are currently over 250 personnel onsite, reflecting normal operating levels for the current phase of work, supporting the advancement of pre-construction, early works and exploration drilling activities, including: Water treatment plant: Upgrades to the Bonanza Ledge water treatment plant are in the final stages of commissioning and the facility is anticipated to be fully operational in the coming weeks. Underground development: To date, approximately 2.1 kilometres of underground development has been completed from the existing Cow Portal into the Lowhee Zone, and along the main access ramp, through the Lowhee fault, towards the Cow Mountain Zone. Development progress has been below plan while encountering challenging ground conditions in and around the Lowhee fault, requiring enhanced ground support. Development rates are expected to improve as the ramp advances beyond this zone. Lowhee infill program: Infill drilling has resumed and is underway, with approximately 1.6 km remaining in the final drill fan under the ongoing 13-km underground program on the 1260 level. Additional exploration and infill drilling is also ongoing on the 1290 level. A total of three drill rigs are currently operating underground. Surface exploration: A total of six drill rigs are currently operating on two exploration programs. Three drill rigs are targeting exploration below the current extent of the Cariboo Gold deposit down to a depth of 1,000 meters. Approximately 5,000 meters of drilling have been completed to date, with assays pending. A second surface exploration program on the adjacent Proserpine regional target has also commenced with three drill rigs, and approximately 500 meters completed to date. Surface infrastructure: Construction of the waste rock storage facility, the sediment control pond, early works in the mine site complex area and other critical infrastructure continues. Camp upgrade: The upgrade and expansion of the site camp to 266 rooms is complete and is expected to provide accommodation capacity aligned with peak construction manpower requirements for the Project.
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Analyst Views on ODV
Wall Street analysts forecast ODV stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 4.560
Low
5.76
Averages
6.12
High
6.48
Current: 4.560
Low
5.76
Averages
6.12
High
6.48
About ODV
Osisko Development Corp. is a continental North American gold development company focused on past-producing mining camps. Its projects include Cariboo Gold Project and Tintic Project. The Cariboo Gold Project is a 100% owned gold and silver project covers an area of over 192,000 hectares (ha) land package and it is located in British Columbia, Canada. The Tintic Project is an exploration and development stage precious and base metal property, located in western Utah County, 95 south of Salt Lake City. The Tintic Project encompasses the East Tintic District with 23 past-producing mines and includes the Trixie gold deposit, one of several gold and base metal targets, including porphyry, epithermal and carbonate targets within the project boundaries. Its James Bay Properties cover approximately 86,000 ha in northern Quebec Canada. Its exploration metals include lithium and precious metals.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Osisko Resumes Activities at Cariboo Gold Project Following Incident
- Project Activity Resumption: Osisko Development has successfully resumed site activities at its Cariboo Gold Project in British Columbia after a temporary suspension, reflecting the company's strong commitment to health and safety for its employees and contractors during this challenging period.
- Underground Development Progress: Approximately 2.1 kilometers of underground development has been completed, although progress has been below plan due to challenging geological conditions around the Lowhee fault; however, development rates are expected to improve as the ramp advances beyond this zone.
- Water Treatment Facility Upgrade: The upgrades to the Bonanza Ledge water treatment plant are in the final stages of commissioning and are anticipated to be fully operational in the coming weeks, significantly enhancing the project's environmental management capabilities.
- Exploration Drilling Activities: Six drill rigs are currently operating on surface exploration, with approximately 5,000 meters drilled to date and assays pending, which will provide critical data support for future resource assessments and development.
See More
Condire Management Fully Exits SSR Mining Position
- Complete Exit: According to a February 17, 2026 SEC filing, Condire Management fully exited its position in SSR Mining by selling 3,353,891 shares for an estimated $81.90 million, indicating a significant shift in the fund's investment strategy.
- Strong Stock Performance: As of February 17, 2026, SSR Mining shares were priced at $25.91, reflecting a remarkable 183% increase over the past year, significantly outperforming the S&P 500 by 171.58 percentage points, driven by surging gold prices.
- Optimistic Future Outlook: SSR Mining projects a 10% increase in gold equivalent ounce production for 2026 and reported $241.6 million in free cash flow for 2025, showcasing the company's robust performance and financial health in the gold market.
- Share Repurchase Program: The management has approved a $300 million share repurchase program, supported by a cash balance of $534.8 million, indicating a commitment to enhancing shareholder value while expanding its gold portfolio.
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Osisko Development Announces New Infill Drilling Results
- Drilling Progress: As of February 11, 2026, Osisko Development has completed 11,025 meters of infill drilling at its Cariboo Gold Project's Lowhee Zone, representing approximately 80% of the planned 13,000 meters, which will provide more precise data for future resource modeling.
- High-Grade Gold Discoveries: The latest drilling results include a highlight from hole BMU-25-132, which showed 596.40 g/t gold, with a peak of 2,293.56 g/t at 6.6 meters downhole, significantly enhancing the economic potential of the area and potentially impacting future mining plans.
- Project Timeline: The infill drilling program is anticipated to conclude in early Q2 2026, and as drilling progresses, it is expected to further optimize production designs and sequencing, thereby improving overall operational efficiency.
- Resource Assessment Update: Approximately 12.1 kilometers of drilling has been completed, accounting for about 88% of the planned total, and this data will be used to update resource assessments, potentially supporting the addition of new reserves and enhancing the project's long-term value.
See More
Osisko Development Partners with JDS for Cariboo Gold Project Management
- Project Management Partnership: Osisko Development's wholly-owned subsidiary, Barkerville Gold Mines, has signed a Project and Construction Management Services Agreement with JDS Energy & Mining to advance the Cariboo Gold Project in British Columbia, indicating a more integrated approach to project delivery.
- Enhanced Management Expertise: JDS's extensive experience in project and construction management will provide additional capacity and structure for planning and execution at the Cariboo Gold Project, ensuring disciplined progress and enhancing Osisko's competitiveness in gold mining development.
- Company Background: Founded in 2004, JDS boasts a diverse team known for delivering tailored solutions, with a proven track record in executing projects on budget and on schedule, including past successes like the Minto Mine and Gahcho Kue Mine.
- Strategic Objectives: Osisko Development aims to become an intermediate gold producer, with the Cariboo Gold Project as its flagship, fully permitted and 100%-owned, expected to significantly support the company's future growth and mineral inventory expansion.
See More
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
See More
Osisko Development Appoints New VP of Permitting and Compliance
- New VP Appointment: Osisko Development has appointed Sarah Harrison as Vice President of Permitting and Compliance effective February 2, 2026, aiming to enhance the company's compliance capabilities within the western Canadian mining ecosystem and improve project management efficiency.
- Extensive Industry Experience: Harrison brings over 13 years of experience in environmental assessment, reclamation, and regulatory compliance, having managed major permit amendments for large-scale mining projects, ensuring smooth project progression.
- Previous Role Background: Prior to joining Osisko, Harrison served as Project Manager at JDS Energy & Mining, overseeing compliance in the Environmental Division, and held the position of Environmental Manager at Artemis Gold's Blackwater Gold Mine, accumulating significant hands-on experience.
- Company Development Strategy: Osisko Development focuses on developing gold projects with district-scale potential, aiming to become an intermediate gold producer through its 100%-owned Cariboo Gold Project, and Harrison's expertise will further drive the implementation of this strategy.
See More
Osisko Resumes Activities at Cariboo Gold Project Following Incident
- Project Activity Resumption: Osisko Development has successfully resumed site activities at its Cariboo Gold Project in British Columbia after a temporary suspension, reflecting the company's strong commitment to health and safety for its employees and contractors during this challenging period.
- Underground Development Progress: Approximately 2.1 kilometers of underground development has been completed, although progress has been below plan due to challenging geological conditions around the Lowhee fault; however, development rates are expected to improve as the ramp advances beyond this zone.
- Water Treatment Facility Upgrade: The upgrades to the Bonanza Ledge water treatment plant are in the final stages of commissioning and are anticipated to be fully operational in the coming weeks, significantly enhancing the project's environmental management capabilities.
- Exploration Drilling Activities: Six drill rigs are currently operating on surface exploration, with approximately 5,000 meters drilled to date and assays pending, which will provide critical data support for future resource assessments and development.
See More
Condire Management Fully Exits SSR Mining Position
- Complete Exit: According to a February 17, 2026 SEC filing, Condire Management fully exited its position in SSR Mining by selling 3,353,891 shares for an estimated $81.90 million, indicating a significant shift in the fund's investment strategy.
- Strong Stock Performance: As of February 17, 2026, SSR Mining shares were priced at $25.91, reflecting a remarkable 183% increase over the past year, significantly outperforming the S&P 500 by 171.58 percentage points, driven by surging gold prices.
- Optimistic Future Outlook: SSR Mining projects a 10% increase in gold equivalent ounce production for 2026 and reported $241.6 million in free cash flow for 2025, showcasing the company's robust performance and financial health in the gold market.
- Share Repurchase Program: The management has approved a $300 million share repurchase program, supported by a cash balance of $534.8 million, indicating a commitment to enhancing shareholder value while expanding its gold portfolio.
See More
Osisko Development Announces New Infill Drilling Results
- Drilling Progress: As of February 11, 2026, Osisko Development has completed 11,025 meters of infill drilling at its Cariboo Gold Project's Lowhee Zone, representing approximately 80% of the planned 13,000 meters, which will provide more precise data for future resource modeling.
- High-Grade Gold Discoveries: The latest drilling results include a highlight from hole BMU-25-132, which showed 596.40 g/t gold, with a peak of 2,293.56 g/t at 6.6 meters downhole, significantly enhancing the economic potential of the area and potentially impacting future mining plans.
- Project Timeline: The infill drilling program is anticipated to conclude in early Q2 2026, and as drilling progresses, it is expected to further optimize production designs and sequencing, thereby improving overall operational efficiency.
- Resource Assessment Update: Approximately 12.1 kilometers of drilling has been completed, accounting for about 88% of the planned total, and this data will be used to update resource assessments, potentially supporting the addition of new reserves and enhancing the project's long-term value.
See More
Osisko Development Partners with JDS for Cariboo Gold Project Management
- Project Management Partnership: Osisko Development's wholly-owned subsidiary, Barkerville Gold Mines, has signed a Project and Construction Management Services Agreement with JDS Energy & Mining to advance the Cariboo Gold Project in British Columbia, indicating a more integrated approach to project delivery.
- Enhanced Management Expertise: JDS's extensive experience in project and construction management will provide additional capacity and structure for planning and execution at the Cariboo Gold Project, ensuring disciplined progress and enhancing Osisko's competitiveness in gold mining development.
- Company Background: Founded in 2004, JDS boasts a diverse team known for delivering tailored solutions, with a proven track record in executing projects on budget and on schedule, including past successes like the Minto Mine and Gahcho Kue Mine.
- Strategic Objectives: Osisko Development aims to become an intermediate gold producer, with the Cariboo Gold Project as its flagship, fully permitted and 100%-owned, expected to significantly support the company's future growth and mineral inventory expansion.
See More
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
See More
Osisko Development Appoints New VP of Permitting and Compliance
- New VP Appointment: Osisko Development has appointed Sarah Harrison as Vice President of Permitting and Compliance effective February 2, 2026, aiming to enhance the company's compliance capabilities within the western Canadian mining ecosystem and improve project management efficiency.
- Extensive Industry Experience: Harrison brings over 13 years of experience in environmental assessment, reclamation, and regulatory compliance, having managed major permit amendments for large-scale mining projects, ensuring smooth project progression.
- Previous Role Background: Prior to joining Osisko, Harrison served as Project Manager at JDS Energy & Mining, overseeing compliance in the Environmental Division, and held the position of Environmental Manager at Artemis Gold's Blackwater Gold Mine, accumulating significant hands-on experience.
- Company Development Strategy: Osisko Development focuses on developing gold projects with district-scale potential, aiming to become an intermediate gold producer through its 100%-owned Cariboo Gold Project, and Harrison's expertise will further drive the implementation of this strategy.
See More
