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Thread: Osisko Development Corp. (NYSE: ODV, TSXV: ODV)

  1. #11

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    Quote Originally Posted by yellowsnow View Post
    had some osisko gold royalty, sold them too early at C$12's.
    why osisko minings keep dropping after they getting good core result?
    Most junior miners are all at record lows. Why Osisko keeps dropping is most likely just lack of interest by the general market plus worry about locations of their property. Also, cash flow issues for any company that's not producing, yet is burning through cash exploring and drilling their holdings. When (if) PM goes to record highs and larger mining companies start to gobble up juniors for pennies on the dollar just so they can lock up new sources of ore, then you'll see some surprising jumps in junior shares. Until then it's a crap shoot as to when any of them will see positive moves. All IMHO.

    Here's a Kitco site of a fellow that follows junior miners: https://www.kitco.com/contributors/DavidErfle/
    American Legion Preamble: https://www.legion.org/preamble

  2. #12

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    "(All monetary references are expressed in Canadian dollars, unless otherwise indicated)

    MONTREAL, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to report its financial and operating results for the three months ended September 30, 2023 ("Q3 2023").

    Q3 2023 HIGHLIGHTS

    Operating, Financial and Corporate Updates:

    3,867 ounces of gold sold by the Company from operating activities, comprising of:
    1,776 ounces of gold sold from the Trixie test mine ("Trixie") located within the Company's wider Tintic Project;
    803 ounces of gold sold from the San Antonio Gold Project ("San Antonio") by processing stockpiles via heap leaching; and
    1,288 ounces of gold sold from the Cariboo Gold Project ("Cariboo") by processing stockpiles at a third-party processing facility.

    $10.4 million in revenues and $10.1 million in cost of sales generated from operating activities.
    On July 6, 2023, the Company announced that in accordance with the terms of its previously-completed acquisition in May 2022 of a 100% ownership interest in the Tintic Project, it had satisfied the first of five deferred payments to the sellers. Deferred consideration of US$2,500,000 was satisfied by an amount of US$250,000 ($334,400) paid in cash in June 2023 and an amount of US$2,250,000 ($2,986,425) settled by the issuance of 454,026 common shares on July 6, 2023.
    As at September 30, 2023, the Company had approximately $71.5 million in cash. "

    see Osisko's website for more details
    American Legion Preamble: https://www.legion.org/preamble

  3. #13

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    "Osisko Development Corp. and O3 Mining Inc. Announce Formation of "Electric Elements Mining Corp." to Explore James Bay Properties for Lithium



    Creation of Premier Lithium Exploration Company in James Bay Region

    Fully-Subscribed C$4.1 Million Financing to Fund First Phase of Lithium Exploration Program

    Continued Exposure to and Advancement of Highly Prospective Lithium Exploration Assets Through Equity Ownership Interest in Electric Elements by Osisko Development and O3 Mining

    TORONTO and MONTREAL, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Osisko Development Corp. ("Osisko Development") (NYSE: ODV, TSXV: ODV) and O3 Mining Inc. ("O3 Mining") (TSXV: OIII, OTCQX: OIIIF) are pleased to announce the successful formation and capitalization of "Electric Elements Mining Corp." ("Electric Elements") to explore for lithium potential on certain James Bay properties in Eeyou Istchee Area, Nunavik, Québec transferred to Electric Elements by Osisko Development and O3 Mining (the "Spin-out Transaction").

    Spin-Out Transaction

    Pursuant to the Spin-out Transaction, Electric Elements acquired from:
    (i) Osisko Development, all of its shares and partnership units in certain subsidiaries holding the rights and title to and interest in its James Bay properties, in exchange for the issuance by Electric Elements to Osisko Development of 9,599,999 common shares of Electric Elements ("EEM Shares"); and

    (ii) O3 Mining, all of its rights and title to and interest in its Éléonore Opinaca property, in exchange for 2,400,000 EEM Shares (the "Transfer").


    After giving effect to the Transfer, Osisko Development and O3 Mining held 80% and 20%, respectively, of the outstanding EEM Shares.

    The assets transferred to Electric Elements consist of: (i) all of the issued and outstanding shares of Coulon Mines Inc., formerly a wholly-owned subsidiary of Osisko Development; (ii) all of the issued and outstanding common shares of 9852239 Canada Inc., formerly a wholly-owned subsidiary of Osisko Development; (iii) all of the issued and outstanding partnership units in General Partnership Osisko Baie James formerly held by Osisko Development; and (iv) all of O3 Mining's rights, title and interest in and to the Éléonore Opinaca property, together with any claims, permits, leases, or other forms of tenure substituted, renewed or amended for such interests, and all contractual rights currently held or acquired for the benefit of such property (collectively, the "Transferred Assets").

    Financing

    Subsequent to the Transfer, Electric Elements completed an equity financing of 8,217,405 EEM Shares at a price of C$0.50 per EEM Share for aggregate gross proceeds to Electric Elements of C$4,108,702.50 (the "Financing"). Proceeds of the Financing will be used by Electric Elements to fund the first phase of exploration activities on its newly-acquired James Bay properties and for general corporate purposes.

    After giving effect to the Financing, Osisko Development and O3 Mining hold approximately 47% and 12%, respectively, of the outstanding EEM Shares, with the remaining approximately 41% of the outstanding EEM Shares held by the subscribers participating in the Financing.

    Completion of the Spin-out Transaction allows Osisko Development and O3 Mining to continue to focus on their respective primary businesses of developing their respective material gold properties, while continuing to have exposure to the Transferred Assets through their respective ownership interests in Electric Elements.

    The Financing was completed in reliance on exemptions from the prospectus requirement under National Instrument 45-106 – Prospectus Exemptions, and the EEM Shares sold thereunder are subject to resale restrictions under Canadian securities laws ending four months and one day after the date that Electric Elements becomes a reporting issuer in any province or territory of Canada.

    Certain insiders of Osisko Development participated in the Financing for an aggregate of 1,400,000 EEM Shares for total consideration of C$700,000. Each subscription by an insider may be considered to be a "related party transaction" for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") as the Financing may be a transaction whereby Osisko Development is deemed to sell, transfer or dispose of an asset to "related parties" (within the meaning of MI 61-101). The subscriptions by such related parties are exempt from the formal valuation and minority shareholder requirements under MI 61-101 in reliance upon the exemptions contained in section 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of Osisko Development's market capitalization.

    About Osisko Development Corp.

    Osisko Development Corp. is a premier North American gold development company focused on high-quality past-producing properties located in mining friendly jurisdictions with district scale potential. The Company's objective is to become an intermediate gold producer by advancing its 100%-owned Cariboo Gold Project, located in central B.C., Canada, the Tintic Project in the historic East Tintic mining district in Utah, U.S.A., and the San Antonio Gold Project in Sonora, Mexico. In addition to considerable brownfield exploration potential of these properties, that benefit from significant historical mining data, existing infrastructure and access to skilled labour, the Company's project pipeline is complemented by other prospective exploration properties. The Company's strategy is to develop attractive, long-life, socially and environmentally sustainable mining assets, while minimizing exposure to development risk and growing mineral resources.

    For further information about Osisko Development Corp, please contact:

    Sean Roosen | Chair & CEO
    Telephone: (514) 940-0685
    Email: sroosen@osiskodev.com "
    American Legion Preamble: https://www.legion.org/preamble

  4. #14

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    "MONTREAL, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce drilling and underground chip sampling results from new development areas as part of its 2023 exploration program at its 100%-owned Trixie test mine ("Trixie"), within the Company's wider Tintic Project ("Tintic" or the "Tintic Project"), located in the historic East Tintic Mining District in central Utah, U.S.A.

    UNDERGROUND CHIP SAMPLE ASSAY HIGHLIGHTS

    Assay highlights include underground chip samples from 79 new development faces at Trixie. Of these, 35 faces had samples with greater than 1.0 grams per tonne ("g/t") gold ("Au") or greater than 50.0 g/t silver ("Ag") values (see Table 1). The remaining chip samples returned no significant assays. Selected assay highlights include:

    30.85 g/t Au over 1.52 meters ("m") in CH01593 (0.90 troy ounce per short ton ("oz/t") Au over 5.00 ft)
    17.93 g/t Au and 128.90 g/t Ag over 1.52 m in CH01594 (0.52 oz/t Au and 3.76 oz/t Ag over 5.00 ft)
    5.07 g/t Au over 7.01 m in CH01604 (0.15 oz/t Au over 23.00 ft) including
    16.80 g/t Au over 1.52 m in CH01604 (0.49 oz/t Au over 5.00 ft)
    443.64 g/t Au over 1.19 m in CH01632 (12.94 oz/t Au over 3.90 ft)
    23.25 g/t Au and 25.34 g/t Ag over 1.46 m in CH01634 (0.68 oz/t Au and 0.74 oz/t Ag over 4.80 ft)

    CHIP SAMPLE SUMMARY

    Chip samples were collected in new development areas in the face and walls of exploration crosscuts to explore along all domains of the Trixie deposit on the 625 Level, to the north towards the Trixie Fault and to the south towards the Sioux Ajax Fault (see Figure 2)
    The sampling and drilling results provide support that target areas to the north of Trixie and to the south down plunge of the T2 structure are mineralized and warrant further follow-up exploration drilling and sampling.

    DRILL ASSAY HIGHLIGHTS

    This news release includes assays from eight underground diamond drill ("DD") holes (see Table 2). Select assay highlights include:

    8.32 g/t Au and 501.00 g/t Ag over 1.52 m in hole TRXU-DD-23-055 (0.24 oz/t Au and 14.61 oz/t Ag over 5.00 ft)
    9.43 g/t Au and 239.00 g/t Ag over 1.22 m in hole TRXU-DD-23-056 (0.28 oz/t Au and 6.97 oz/t Ag over 4.00 ft)
    9.04 g/t Au and 323.00 g/t Ag over 1.52 m in hole TRXU-DD-23-057 (0.26 oz/t Au and 9.42 oz/t Ag over 5.00 ft) including
    12.53 g/t Au and 169.00 g/t Ag over 0.76 m in hole TRXU-DD-23-057 (0.37 oz/t Au and 4.93 oz/t Ag over 2.50 ft)
    7.46 g/t Au and 301.52 g/t Ag over 2.77 m in hole TRXU-DD-23-059 (0.22 oz/t Au and 8.79 oz/t Ag over 9.10 ft) including
    14.41 g/t Au and 570.00 g/t Ag over 0.91 m in hole TRXU-DD-23-059 (0.42 oz/t Au and 16.63 oz/t Ag over 3.00 ft)

    DRILL RESULTS SUMMARY

    In 2023, the company completed a total of 6,447 m (21,151 ft) of underground drilling in 73 DD holes at Trixie. To date, assays have been received for 59 DD holes, with assays pending for the remaining holes.
    One diamond drill rig is currently active underground testing a copper-gold porphyry target, Trixie West, below the Trixie deposit.
    Approximately 25% of the drilling to date consists of delineation of domains within the area of the current Trixie MRE (as defined herein) and 75% is exploration drilling adjacent to the area of the Trixie MRE, including step outs down dip, down plunge and along strike testing for mineralized structures.
    The focus of these recent holes was to test for mineralization along one of the priority target areas south on strike from the known T2 domain, towards the Sioux Ajax fault (see Figure 2).
    A new mineral resource estimate ("MRE") for the Trixie deposit is expected to be completed once all assay results from the 2023 exploration program have been received and surface and underground mapping data has been integrated.

    About Trixie

    The Trixie test mine is one of several gold and base metal targets within the larger Tintic Project consisting of >17,000 acres of patented mining claims and mineral leases within the historic East Tintic Mining District of Central Utah, U.S.A. The T2 and T4 structures at Trixie show multi-ounce gold grades associated with high sulphidation epithermal mineralization, structurally controlled and hosted within quartzites. The T2 structure mineralization consists of native Au, and rare Au-Ag rich telluride minerals with quartz. The T4 is a mineralized stockwork zone located in the hanging wall of the T2 and is comprised of Au-Ag rich mineralization in host rock quartzite with quartz-barite-sulphosalt stockwork veining. Mineralization reports consistent multi-ounce gold grades along the entire strike length."
    American Legion Preamble: https://www.legion.org/preamble

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