Osisko Gold posts Q2 revenue jump, closes US$300 million notes offering

Osisko Gold Group Inc. reported Q2 2026 financial and operating results showing about $837.3 million in cash and cash equivalents, $32.7 million in revenue and $8.1 million in operating income, helped by the sale of 5,547 ounces of gold from small-scale activities at the Tintic Project. The company also completed a US$300.0 million convertible senior notes offering due 2031 and continued to draw on its Appian-backed project loan facility for development of the Cariboo Gold Project in British Columbia. At Cariboo, Osisko continued pre-construction work across underground development, surface infrastructure and engineering. The company said about 2.7 kilometers of underground development has been completed, while excavation advanced at the Valley Portal and upgrades to the Bonanza Ledge water treatment plant were completed, with full operation expected in Q3 2026. It also completed about 13,684 metres of underground infill drilling tied to Appian project financing obligations and released results from another 2,995 metres of infill and near-mine drilling in the Lowhee Zone. Thirteen drill rigs are now operating across surface and underground programs, with as many as 20 expected to be active at times through 2026 and beyond. Corporate updates included incentive awards to senior officers and non-executive employees, the appointments of Sarah MacDonald as Vice President, Construction Contracting and Commercial and Greg Perrins as Vice President, Sustainable Development, and shareholder approval of the company name change to Osisko Gold Group Inc. at the June 23, 2026 AGM. Keith McKay was nominated to the Board and all director nominees were elected. After quarter-end, the company formally changed its name from Osisko Development Corp. to Osisko Gold Group Inc., adopted the ticker OGG on the TSXV and NYSE, signed a three-year Support and Benefits Agreement with the District of Wells that contemplates voluntary contributions of up to $3.0 million, and released additional drilling updates from Cariboo and the Proserpine greenfield target. Management said test mining and limited processing activity at Tintic are expected to continue through Q3 and Q4 2026 and into 2027 while it evaluates next steps for the project.

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Osisko Gold posts Q2 revenue jump, closes US$300 million notes offering - CoinPost Terminal