Morning Briefing: Osisko Development Publishes is Cariboo Gold Project Feasibility Study
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall
It's Monday, April 28th.
Gold ended the week down $50 on Friday and closing at $3,298/oz on the front month contract. Its been spending some time the last few days consolidating around the $3,300 level as it continues to work off the high-flying speculative nature of its moves in April. After some backtracking from comments made the White House regarding Chinese trade and Federal Reserve independence, markets found a bit of calmness. Silver gained on the week, closing at $33/oz on Friday, bringing the gold/silver ration back down to 100. There is lots of economic data being released this week investors will be keeping an eye on, including US job openings tomorrow, Personal Consumption Expenditures on Wednesday, and non-farm payrolls on Friday.
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…Calibre Mining
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and in Nicaragua. The company recently announced a deal to merge with Equinox Gold. The transaction will create an Americas-focused diversified gold producer with a portfolio of operating mines in five countries anchored by two high-quality, long-life, low-cost Canadian gold mines, Greenstone and Valentine. You can learn more at https://www.calibremining.com/
And here’s what you need to know this morning…..
Heliostar Metals reported their preliminary results for the first quarter of the year. The company produced just over 9,000 gold equivalent ounces and sold just over 8,000 of those ounces. Its consolidated all-in sustaining costs were up to $1,475/oz with average sales being almost double that amount. Heliostar is closing the quarter with $27M in cash and no debt. In Q2, production is expected to decrease due to drawdown of inventory on the leach pad at San Agustin prior to a planned restart of primary mining activities later in 2025. Heliostar remains on track to meet their production and cost guidance for 2025. (TSXV: HSTR) (OTCQX: HSTXF) News Release
Osisko Development has published results of its full feasibility study for the Cariboo Gold Project in British Columbia. The study shows a base case after-tax NPV5% of $943 million, unlevered after-tax IRR of 22.1% and payback2 of 2.8 years at $2,400/oz gold price assumption. Using spot gold price of $3,300/oz, NPV5% improves to $2,066 million, IRR 38.0%, and payback2 of 1.6 years. Cariboo shows average annual production of ~190,000 ounces of gold over a 10-year mine life. Its all-in sustaining costs if estimated to be $1,157/oz over the life of mine. Initial capex of the project is $881M with sustaining capital needed of life of mine is $525M. A formal positive final investment decision, along with securing a project financing package in the coming months would enable certain construction activities to commence in the second half of 2025, with project completion targeted for the end of 2027. (NYSE: ODV, TSXV: ODV) News Release
G2 Goldfields provided an update on diamond drilling and exploration work at the Oko-Aremu District in Guyana. Diamond drilling continues to define and expand this exciting new surface discovery located 10 kilometres north of the Oko-Ghanie deposits. New results reported this morning included 41m of 1.2 g/t Au and 50m of 1.1 g/t. Drilling has now established a strike length of nearly 500m with the auriferous zone remaining open to the southwest and northeast. Significantly, almost all of the mineralized intercepts to date lie within near surface, heavily oxidized zones. Geological mapping and gold-in-soil sampling have also identified several parallel shear structures north of the current area of drilling. First pass scout drilling of these prominent targets will begin in the coming weeks in tandem with drilling in the southern discovery area. (TSX: GTWO; OTCQX: GUYGF) News Release
Strikepoint Gold has provided initial results from drilling at the Hercules Gold Project in Nevada’s Walker Lane. The Company completed 7 drillholes totaling approximately 1,400 meters of reverse circulation drilling. Results from the first four included 32m of .54 g/t Au and 4.6 g/t Ag and 18.2m of .61 g/t Au and 4.66 g/t Ag. The Company expects the final 3 holes of the 2025 spring drill program to be received shortly. (TSXV: SKP) (OTCQB: STKXF) News Release
Liberty Gold has announced its CEO, Cal Everett, will be retiring and transitioning to the new spin-out entity known as Specialty American Metals. The Company’s Board of Directors will appoint Dr. Jon Gilligan as a Board Director as the new President and Chief Executive Officer of Liberty Gold, effective June 12, 2025. News Release
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That’s it for today everyone. Have a great day. Stay safe.
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