08:06 AM EDT, 04/28/2025 (MT Newswires) -- Osisko Development ( ODV ) reported Monday the results of an optimized feasibility study for the Cariboo gold project in British Columbia.

The study outlined a post-tax net present value of $943 million using a 5% discount and a base case gold price of US$2,400 per ounce, with a 22.1% internal rate of return and a 2.8-year payback period.

Using the spot gold price of US$3,300 per ounce, the posttax net present value at the same discount rate increases to $2.1 billion, with a 38.0% internal rate of return and a 1.6-year payback period.

"The results reaffirm our view that Cariboo is a high-quality asset with robust returns and significant upside potential within the existing mine plan," said Sean Roosen, founder, chairman and CEO of Osisko Development ( ODV ).

Osisko Development ( ODV ) said announcing a formal positive final investment decision and securing a project financing package in the coming months would allow certain construction activities to commence in the second half. The project is expected to be completed at the end of 2027.

The company's share price closed 2.6% lower on Friday to $2.29 on the TSXV.