Osisko Gold Approves Construction of Cariboo Gold Project

Osisko Gold has made a formal construction decision for its Cariboo Gold Project in British Columbia, paving the way for first gold production in Q1 2029 and commercial production by H2 2029.

The project is expected to support 613 jobs and will require an estimated go-forward capital obligation of C$990 million. This amount is supported by up to C$1.637 billion in total available and proposed capital, including C$837 million in cash and equivalents.

At a gold price of US$4,350/oz, the project's economics show an after-tax NPV5% of C$3.2 billion, an after-tax IRR of 42.7%, and average annual free cash flow of C$642 million in the first five years.

Osisko Gold has also partnered with Trafigura, which will make a strategic equity investment of approximately US$30 million and provide a potential prepay facility of up to US$120 million.