Osisko Development Awards Project and Construction Management Services Contract for the Development of the Cariboo Gold Project
Osisko Development Secures Construction Leadership as Massive Capital Influx Primes Cariboo for 2026 Inflection
The most recent news release (February 9, 2026) announces that Osisko Development has entered into a definitive Project and Construction Management Services Agreement with JDS Energy & Mining Inc. for the development of its flagship Cariboo Gold Project in British Columbia. JDS will provide planning and execution capacity as the project advances toward its next phase. This follows the completion of a massive US$143.8 million bought deal financing on February 3, 2026, and the appointment of Sarah Harrison (formerly of JDS) as VP, Permitting and Compliance on February 2, 2026.
The impact is Routine - Positive. While the contract award is a necessary step for a project entering the construction phase, its materiality is secondary to the massive financing and permitting milestones achieved in the preceding months. - Operational Progress: The formalization of the JDS partnership suggests the company is moving past the temporary suspension of activities caused by the contractor fatality reported on January 23, 2026. - Strategic Continuity: The hire of Sarah Harrison from JDS, followed immediately by the contract award to JDS, indicates a highly integrated relationship aimed at streamlining the final permitting and construction hurdles. - Capital Readiness: The news confirms that with US$143.8 million in fresh capital and the Appian US$450 million credit facility, the company is moving aggressively toward a Final Investment Decision (FID).
Osisko Development Corp. is focused on becoming an intermediate gold producer. Its flagship asset is the 100%-owned Cariboo Gold Project in central British Columbia, Canada. - Project Stats (2025 FS): NPV5% of C$943M (at US$2,400 gold) and an IRR of 22.1%. - Reserves: 2.07 million ounces of gold (17.8 Mt at 3.62 g/t Au). - Strategy: Single-phase construction to 4,900 tonnes per day with a 10-year mine life. The project is "shovel-ready" with major permits received in late 2024.