Osisko Development (ODV) 2025 Precious Metals Summit - Beaver Creek summary

Project financing and milestones

• Achieved full financing with $203 million in equity, $100 million from a syndicated facility, and working on an additional $350 million, totaling $653 million raised over the summer.

• Recently reached a $1 billion market cap following successful financing.

• Fully permitted for 5,000 tons per day, with strong government and First Nations support.

• All environmental assessment certificates and final mining permits secured by November 2024.

• First gold production targeted for 2028, with a 10-year mine life.

Resource base and development

• Currently constructing two mines with 2 million ounces in reserves and additional 1.61 million ounces measured and indicated, plus 1.86 million ounces inferred.

• Underground development includes 1,250 meters of ramp and stopes, with significant infrastructure and mill equipment in place.

• The property covers 1,550 sq km with 83 km of mineralized trend, but only 4.4 km and 350 meters depth explored so far.

• Plans to expand production by converting additional resources and extending mining depth.

• Bulk mining focuses on vein corridors, with high-grade replacement zones as future upside.

Production and financial outlook

• Initial production rate of 200,000 ounces per year for the first five years, averaging 190,000 ounces over 10 years.

• All-in sustaining cost (AISC) of $1,157/oz, with margins of $2,600/oz at current gold prices.

• Project NPV of $2 billion at current gold prices, IRR around 40%, and payback period of 1.6 years.

• Expected to generate $457 million in annual free cash flow at spot prices.

• Mill capacity allows for future expansion up to 11,000–15,000 tons per day.