Osisko Development Corp ( (ODV) ) has released its Q3 earnings. Here is a breakdown of the information Osisko Development Corp presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Osisko Development Corp. is a North American gold development company focused on advancing its mining projects in Canada, the United States, and Mexico. The company aims to become an intermediate gold producer by developing its 100%-owned Cariboo Gold Project in British Columbia, the Tintic Project in Utah, and the San Antonio Gold Project in Mexico.
Osisko Development Corp. reported its financial results for the third quarter of 2024, highlighting a cash position of approximately $40.8 million. The company sold 47 ounces of gold from its Cariboo Gold Project, generating $0.2 million in revenue. Key developments include successful permitting progress at the Cariboo Gold Project and ongoing exploration activities at the Tintic Project.
The Cariboo Gold Project has made significant strides with pre-construction activities and is advancing towards completing an optimized feasibility study by Q2 2025. Meanwhile, the Tintic Project in Utah is expanding its exploration efforts with new porphyry and carbonate replacement deposit targets, expecting further drilling in the coming months. The San Antonio Gold Project remains under strategic review as the company explores potential partnerships or sales.
Looking ahead, Osisko Development Corp. anticipates completing its bulk sample program at the Cariboo Gold Project by Q1 2025 and remains focused on achieving key project milestones. The company is actively exploring strategic funding options to support its development objectives and continues to engage with stakeholders to advance its projects.
