24/7 Market News Snapshot 21 November, 2024 – Osisko Development Corp. (NYSE:ODV)

November 21, 2024

DENVER, Colo., 21 November, 2024 (247marketnews.com) – (NYSE:ODV) are discussed in this article.
Osisko Development Corp. has marked a significant turning point with its recent approval of the BC Mines Act permits for the Cariboo Gold Project, coinciding with a notable surge in its stock performance. As of today, Osisko’s shares opened at $1.69, escalating to $1.811, reflecting an impressive increase of 22.36%, with trading volumes reaching 574.35K. This resurgence in the stock price signals heightened investor confidence and growing interest in the company’s future prospects.

Sean Roosen, Founder, Chairman, and CEO of Osisko, described the permit approval as a monumental achievement after nearly five years of collaboration with regulators, Indigenous nations, and local communities. He reaffirmed the company’s dedication to responsible mining practices, stating, “Our focus is to redefine industry standards to foster a sustainable future.” This commitment is echoed in the anticipated economic and environmental benefits of the Cariboo Gold Project, which is projected to yield up to 223,000 ounces of gold annually at peak production and create approximately 634 construction jobs and 488 ongoing positions.

The Honourable Jagrup Brar, Minister of Mining and Critical Minerals, recognized the collective efforts that enabled this progress, highlighting its potential to enhance local economies while upholding strict environmental standards. As plans for full-scale construction advance, the company is exploring various funding opportunities to ensure robust financial backing, targeting a construction start date in the latter half of 2025.

With a projected mine life of 12 years, the Cariboo Gold Project represents a transformative opportunity for Osisko Development, offering significant economic impacts while prioritizing sustainability and environmental stewardship throughout its development phases.

Related news for (ODV)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.