The milestone, said chairman and CEO Sean Roosen, is “a culmination of almost five years of extensive discussion and consultation with provincial regulators, Indigenous nations and host communities to ensure that the project becomes a model for responsible mine development and environmental stewardship.”
With the construction and operating permits secured, Osisko said it is advancing funding discussions for what is expected to be a C$588 million project, including C$137 million upfront and an additional C$451 million for expansion. It is expected to have an after-tax net present value (discounted at 5%) of C$502 million and a 20.7% internal rate of return, based on a $1,700/oz gold price.
A formal positive final investment decision and the engagement on a project financing package in the coming months would allow for full-scale construction to commence in the second half of 2025, with a targeted completion date at…
