Osisko Development (TSXV, NYSE: ODV) has secured a $450 million loan from Appian Capital Advisory to advance construction of the Cariboo gold project in central British Columbia.
The senior secured credit facility will help finance pre-construction and early works on the fully permitted project, the company said Monday. The amount covers more than half of the estimated upfront capital cost of C$881 million in an updated feasibility study released in April. Construction is expected to start in this quarter, with first gold production targeted for the second half of 2027.
“We are delighted to welcome Appian as a new cornerstone investor, which is a significant endorsement of the Cariboo gold project,” Osisko chairman and CEO Sean Roosen said in a release. “The $450 million facility represents a key financing commitment and allows us to maintain momentum towards a formal investment…
