Osisko Development Corp., a prominent mining company, has released its financial and operating results for the fourth quarter and full year ended December 31, 2025. The report showcases substantial achievements in cash management, project development, and corporate strategy, underscoring the company's growth trajectory in the gold mining sector.
Financial Highlights for Q4 2025
As of December 31, 2025, Osisko Development held approximately $422.3 million in cash and cash equivalents, reflecting a strong liquidity position. This includes about $145.8 million outstanding under a senior secured project loan credit facility with Appian Capital Advisory Limited, aimed at funding the Cariboo Gold Project. During the quarter, the company generated $24.2 million in revenues from the sale of 3,970 ounces of gold through small-scale mining activities at the Tintic Project, resulting in an operating income of $8.7 million, a significant improvement from a $19.8 million loss in Q4 2024.
Financing and Corporate Developments
In October 2025, Osisko Development completed a private placement offering, raising approximately $82.5 million in gross proceeds. This financing included a LIFE offering and a private placement, bolstering the company's capital for ongoing operations. Additionally, the company appointed Scott Smith as Vice President, Exploration in November 2025, enhancing its leadership team. On the corporate front, Osisko Development announced the sale of its San Antonio Gold Project in Mexico, a strategic move to streamline its asset portfolio.
Cariboo Gold Project Progress
The Cariboo Gold Project remains a focal point for Osisko Development, with several key advancements reported. The company released new infill drilling results from an ongoing 13,000-metre program in the Lowhee Zone, with 5,983 metres completed, representing about 44% of the planned total. Furthermore, a 70,000-metre exploration drilling campaign was launched in December 2025, targeting new discoveries to expand the project's resource base. Pre-construction activities, such as upgrades to the water treatment plant and waste rock storage facility, continued to advance, positioning the project for future development phases.
Subsequent Events in Early 2026
Following the end of Q4 2025, Osisko Development achieved additional milestones. The company received approximately $24.9 million from a warrants exercise and completed a prospectus offering of common shares for about US$143.8 million in gross proceeds, further strengthening its financial footing. At the Cariboo Gold Project, site activities resumed after a temporary suspension due to a fatal incident in January 2026, with a phased reopening plan in place. The company also entered into a project and construction management services agreement with JDS Energy & Mining to support ongoing operations. Corporate updates included the appointment of Sarah Harrison as Vice President, Permitting & Compliance and the company's inclusion in the VanEck Junior Gold Miners ETF (GDXJ), enhancing its market visibility.
Overall, Osisko Development's results for Q4 and year-end 2025 demonstrate robust financial health and strategic progress in its mining projects, setting a positive outlook for future growth in the gold industry.
