Morning Briefing: Osisko Development Locks in a US$450M Loan Facility for Cariboo

Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.


It's Monday, July 21st


Precious metals markets are on the move yet again this morning, but on a winning side. Gold is currently trading up more than $28 to $3,386 an ounce on the front month contract. Gold’s chart continues to consolidate  around these levels and has been doing so since April. Silver is up $.40 to $38.87 this morning. The US Dollar index is down along with bond yields. US consumer sentiment did improve in July while inflation expectations declined. The Japanese Yen firmed today after the country’s ruling coalition lost its majority in the upper house. Attention will turn to the lower house elections. Although the LDP coalition has lost its majority in the Upper House, it is still the largest voting block in the chamber. 


 We’ll get to the news from the miners and explorers here in a moment, but first a quick word about today’s sponsor. 



This episode of Mining Stock Daily is brought to you by…Equinox Gold

Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at ⁠⁠⁠⁠⁠⁠equinoxgold.com⁠⁠⁠⁠⁠⁠


And here’s what you need to know this morning….. 


Osisko Development has entered into a credit agreement with funds advised by Appian Capital Advisory Limited for a senior secured project load credit facility totaling US$450 million for the development and construction of its permitted, 100%-owned Cariboo Gold Project located in central British Columbia. The Credit Facility provides strategic capital and enhanced financial flexibility as the Company advances Cariboo through the next phase of pre-construction and early works milestones toward construction readiness. It is structured in two tranches aligned with the Project's planned development timeline. An initial draw of US$100 million was completed and will be used to: (i) undertake a 13,000-meter infill drill campaign to further de-risk Project mine planning assumptions; (ii) fund pre-construction and construction activities for the development of Cariboo; (iii) repay the Company's existing outstanding US$25 million term loan with National Bank of Canada, maturing in October 2025; and (iv) support the Project's general working capital requirements. (NYSE: ODV, TSXV: ODV) News Release


Collective Mining announced new assay results for five diamond drill holes designed to better outline and expand the shallow portion of gold-silver-copper-tungsten mineralization at the Apollo system. Selected results from today’s release were 442.35 metres @ 2.16 g/t gold equivalent (1.18 g/t gold, 43 g/t silver, 0.21% copper and 0.05% WO3) from surface (APC-125) including 68.05 metres @ 4.55 g/t gold equivalent. The hole bottomed while still in strong mineralization.Hole 126 returned 325.10 metres @ 2.03 g/t gold equivalent. Seventy percent of the drill program targeting the shallowest portion of Apollo has now been completed, with assays still pending for five holes and additional holes being drilled. Deep drilling that is targeting the Ramp Zone is now underway with the arrival of the first large capacity rig to site. (NYSE: CNL) (TSX: CNL) News Release


Denison Mines shared significant new intercepts of shallow high-grade uranium mineralization have been discovered at the McClean South zone , which is part of the Company's 22.5%-owned McClean Lake Joint Venture in northern Saskatchewan. Results included 7.51% eU3O8 over 5.4 metres, 3.5% eU3O8 over 11.2 metres, and 1.72% eU3O8 over 20.6 metres. Orano, the 77.5% owner and operator of the MLJV, completed th 6,400-metre exploration drilling program at McClean South during the first half of 2025. McClean South is located approximately 600 metres to the south of the McClean North deposit, where the MLJV recently commenced commercial mining using the joint venture's patented SABRE mining method. (TSX: DML) (NYSE American: DNN) News Release


Patriot Battery Metals announced a maiden mineral resource estimate for caesium at the Rigel and Vega zones at its 100%-owned Shaakichiuwaanaan Property located in the Eeyou Istchee James Bay region of Quebec. The Rigel and Vega zones are hosted within the CV13 Pegmatite, which is located ~3 km west-southwest along geological trend of the CV5 Pegmatite. The company says they have confirmed the project hosts the world largest pollucite-hosted caesium pegmatite deposit with an indicated resource of 163,000 t at 10.25% Cs2O at Rigel alongside  an indicated 530,000 t at 2.61% Cs2O and an inferred resource of 1,698,000 t at 2.40% Cs2O at Vega. Coincident with the pollucite-hosted caesium at Rigel and Vega is high-grade lithium and tantalum, present in the host minerals spodumene and tantalite, respectively, which may be co-recovered as separate concentrates. (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) News Release

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That’s it for today everyone. Have a great day. Stay safe. 


 

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