Gold miner Osisko falls on $125 mln stock deal

Royal Bank of Canada

27/01/2026 15:08

** U.S.-listed shares of Canada's Osisko Development ODV.N down 6.5% early Tues to $3.60 after $125 mln equity raise

** Montreal-based gold producer late Mon announced bought deal public offering of ~35.3 mln shares at $3.54, an 8.1% discount to last sale

** Co intends to use net offering proceeds to fund infill conversion drilling and at depth exploration at the Cariboo Gold Project in Canada's British Columbia province, and for general working capital purposes

** National Bank Capital Markets, RBC and Cantor Fitzgerald joint bookrunners

** Co has ~255.1 mln shares outstanding

** Even with the decline on Tues, U.S.-listed shares up about 140% over the past year

** Spot gold price XAU= climbed on Tues, hovering just shy of the $5,100/ounce mark surpassed for the first time on Mon GOL/

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))