Analysts Remain Bullish on Osisko Development as It Acquires 8.57 Million Units of Niobay Metals Inc.

Osisko Development Corp. (NYSE:ODV) is one of the 9 Best Junior Gold Mining Stocks to Buy Now.

On December 23, Osisko Development Corp. (NYSE:ODV) acquired approximately 8.57 million units of Niobay Metals Inc. at a price of $0.14 per unit. Through its subsidiary, Barkerville Gold Mines, Osisko increased its Niobay exposure from 10.8% pre-placement to 16.2% on a diluted basis, representing an aggregate of $1.2 million. This increases Osisko from a minority investor to a holder with notable governance leverage.

In other news, on December 15, Osisko Development Corp. (NYSE:ODV) updated on infill drilling at the Cariboo Gold project in British Columbia. The company pointed out that the results to date are mainly in line with modelled reserve stopes and vein corridors. Osisko has completed nearly 5,983 meters of infill drilling in around 62 holes on a tight 10-meter spacing. This represents approximately 44% of the planned 13,000-meter program.

Overall, the company has completed 10,000 meters of total drill meters, while the remaining are expected to be completed through the first quarter of 2026. Osisko expects potential for additional new reserve stopes, which will be estimated following the completion of the planned drill.

Osisko Development Corp. (NYSE:ODV) is a gold-mining company engaged in development projects. Osisko also operates through its subsidiaries and explores and develops metal resource properties.

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Disclosure: None. This article is originally published at Insider Monkey.