https://www.miningweekly.com
Construction|Design|Engineering|Gold|PROJECT|Underground
Construction|Design|Engineering|Gold|PROJECT|Underground
construction|design|engineering|gold|project|underground

Osisko Development secures $50m for Cariboo project

5th March 2024

By: Creamer Media Reporter

     

Font size: - +

Gold company Osisko Development has secured funding for ongoing detailed engineering and preconstruction activities at the Cariboo gold project, in British Columbia.

The $50-million delayed draw term loan from National Bank of Canada will enable Osisko to start development of a 1.2 km underground drift and to enhance design and engineering work ahead of the anticipated receipt of permits in the second quarter, said chairperson and CEO Sean Roosen.

“Completing this work is a significant step in further de-risking the project ahead of a construction decision by accessing the orebody and demonstrating the performance of the roadheader and ore sorter technologies, while we continue to progress toward sourcing a fully-funded solution for the project,” he added.

A feasibility study, released in early 2023, envisions a robust and scalable underground operation expected to produce about 1.87-million ounces of gold over a 12-year mine life.

Preproduction capital expenditure is estimated at C$137.3-million. Expansion capital is estimated C$451.1-million.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.165 0.232s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: