Osisko Gold Group Inc. has issued a construction progress update for its Cariboo Gold Project, indicating that the project remains on schedule for its anticipated first gold pour in the first quarter of 2029 and commercial production in the second half of 2029. This update is significant as it reflects the company's commitment to advancing its operations in the competitive gold mining sector.
Osisko Gold Group Inc. operates in the Gold and Silver Ores industry (SIC 1040) and is listed on the NYSE and Nasdaq under the ticker OGG. The company is focused on developing its flagship Cariboo Gold Project, a fully permitted and 100%-owned project located in central British Columbia, Canada. Recent filings indicate that the company is actively progressing with its construction efforts, having filed multiple reports in October 2026.
The latest filing, dated October 27, 2026, highlights that the Cariboo Gold Project is approximately 28% complete based on cumulative costs incurred of about $355 million as of September 30, 2026. The remaining estimated cost to complete the project is approximately $907 million. Detailed engineering is reported to be 42% complete, and over 50% of procurement packages have been awarded.
Sean Roosen, Chairman and CEO of Osisko Gold, expressed satisfaction with the progress made, stating, "We are pleased with the progress at the Cariboo Gold Project and continue to build construction momentum following our final investment decision announced in September." This sentiment reflects the company's strategic investments in critical infrastructure and engineering during the pre-construction phase.
The update also notes that the on-site workforce has surpassed 400 active personnel and is expected to continue increasing. Safety remains a priority, with a Total Recordable Injury Frequency Rate (TRIFR) of 1.05 reported for 2026. Key recent advancements include significant progress in earthworks and the construction of essential infrastructure, such as the water treatment plant and waste rock storage facility.
The Cariboo Gold Project is positioned in a historic mining camp and spans approximately 186,740 hectares, with numerous mineral titles. The project has received all major permits necessary for construction, operation, and closure, marking a critical milestone for Osisko Gold.
Looking ahead, Osisko Gold's construction update suggests a proactive approach to project management and stakeholder engagement, with ongoing consultations with local First Nations. The company aims to solidify its position in the gold mining industry as it works towards achieving its production targets.
Details were not available in the SEC filing regarding the next steps in the project timeline or any upcoming votes related to the construction. However, the progress reported indicates a robust commitment to advancing the Cariboo Gold Project as planned.