Osisko Development (TSXV, NYSE: ODV) has successfully closed its $203 million bought deal private placement for the Cariboo gold project. The property, 65 km east of Quesnel, in British Columbia, is shovel ready. Both an underground mine and a carbon-in-pulp recovery plant are planned.
The offering consisted of two parts. First, the company issued approximately 58.6 million units at the issue price for aggregate gross proceeds of $120 million. The second is a non-brokered portion consisting of approximately 40.5 million units for gross proceeds of $85 million.
The non-brokered units were largely taken up by Double Zero Capital, a Delaware investment firm, and the units represent about 15.4% of Osisko Development’s issued and outstanding common shares. Each unit consists of one common share and one-half of a share purchase warrant exercisable at $2.56 per share.
Certain insiders of Osisko Development subscribed for 628,000 units for gross proceeds of about $1.3 million.
Osisko will use the net proceeds of the offering to fund the distributed equity portion of the capital committed to the Cariboo gold mine. In July, the company arranged a $450 million loan credit facility with Appian Capital Advisory.
The updated Cariboo feasibility study was released in April 2025. Using a current gold price of $3,300/oz. and a mine life to 12 years, the NPV (at 5% discount) is nearly $2.1 billion and the IRR is 38%. In the updated scenario, the annual gold output would average 193.800 oz. in years four through nine.
Proven and probable reserves over all zones are 16.7 million tonnes grading 3.78 g/t gold and containing just over 2 million oz. of gold.
发布者：Canadian Mining Journal Staff，转转请注明出处：https://robotalks.cn/osisko-development-raising-203m-for-cariboo-gold-construction/
