Roosen’s Osisko greenlights Cariboo gold project in BC

AI desk brief

Osisko has given final investment decision on the C$841 million Cariboo underground gold mine in British Columbia, targeting first gold pour in early 2029 and commercial production in 2H29. The project is about 22% complete, carries roughly C$990 million in future capital obligations, and the feasibility study pegs it at 1.89Moz of gold over 10 years with a 43% after-tax IRR and C$3.2bn after-tax NPV using a US$4,350/oz gold assumption.

Financing support includes a $30 million Trafigura equity investment at C$3.14/share and a potential $120 million gold prepayment facility, with Trafigura also set to buy Cariboo concentrate and doré for the first four years of production. Osisko says it has about C$1.64bn in available capital sources versus C$1.44bn in projected expenditures, leaving a projected C$201 million surplus; the market took shares down 1.3% on the day.