Osisko Development (TSXV:ODV) Is Up 11.7% After Launching Major Cariboo Drilling Program Has The Bull Case Changed?

• Osisko Development Corp. recently began a fully funded 70,000‑meter, two‑phase exploration drilling campaign at its 100%-owned, permitted Cariboo Gold Project in central British Columbia, targeting both deeper extensions of the existing deposit and several regional targets.
• The program concentrates on high-impact areas such as Cariboo Deep and the Proserpine Mountain Warspite zone, where prior work suggests potential for larger-scale mineralization and meaningful additions to the project’s resource inventory.
• We’ll now examine how this extensive, fully funded Cariboo drilling program could influence Osisko Development’s investment narrative and long-term project potential.

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What Is Osisko Development's Investment Narrative?

To own Osisko Development, you really have to believe the Cariboo Gold Project can ultimately justify years of heavy spending and ongoing losses, and that today’s valuation reflects that potential rather than the current income statement. The fully funded 70,000‑meter Cariboo drill program sharpens that bet: it adds a clear, near‑term exploration catalyst on top of an already de‑risked feasibility study, but it also reinforces how concentrated the story is around one core asset. In the short term, any strong intercepts or evidence of larger‑scale mineralization at Cariboo Deep or Proserpine could influence how investors think about the mine plan and the recent capital raises, especially after a very large share price run. At the same time, the business still faces the same key risks around sustained unprofitability, execution and dilution.

However, there is one funding and dilution issue here that investors really should not miss. Osisko Development's shares have been on the rise but are still potentially undervalued. Find out how large the opportunity might be.

Exploring Other Perspectives

The Simply Wall St Community’s four fair value views run from just CA$0.29 to CA$28.36, underlining how far apart individual expectations can be. Set that against a company still unprofitable, reliant on fresh capital and heavily anchored to the success of a single gold project, and it becomes clear why you may want to explore several perspectives before forming your own view.

Explore 4 other fair value estimates on Osisko Development - why the stock might be worth less than half the current price!

Build Your Own Osisko Development Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Osisko Development research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Osisko Development research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Osisko Development's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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