Osisko Gold Greenlights Cariboo Project Construction with Trafigura Financing

Key Facts

1Osisko Gold's Board of Directors has made a formal positive decision to proceed with the construction of the 100%-owned Cariboo Gold Project.

2First gold pour is expected in Q1 2029, with commercial production slated for the second half of 2029.

3The company secured a US$30 million strategic investment from Trafigura, with a potential prepayment facility of up to US$120 million.

In a move highlighting the continued development of the Canadian mining sector, Osisko Gold's Board of Directors has made a formal positive decision to proceed with the construction of its 100%-owned Cariboo Gold Project. The company anticipates its first gold pour in the first quarter of 2029, with full commercial production slated for the second half of that year. This decision follows the completion of 22% of the project and the securing of capital sources estimated at $1.6 billion to cover the $990 million capital obligation.

The project's execution is further de-risked by a US$30 million strategic investment from Trafigura, which includes a potential prepayment facility of up to US$120 million. Per market data, the equity investment was priced at a 10% premium to the five-day volume-weighted average price. Additionally, the agreement secures offtake for 100% of the gold concentrate and doré for the first four years of production, providing a guaranteed commercial outlet for the project's initial output.

As of the close on September 11, 2026, OGGWZ was priced at $0.0291. Investors will be watching for construction milestones following this formal greenlight. With no major Canadian mining catalysts in the immediate economic calendar, market attention remains focused on the company's ability to meet its 2029 production targets and the finalization of the potential prepayment facilities.