Osisko Gold Q2 2026: Revenue Hits C$32.7M, US$300M Notes Closed, Cariboo Pre-Construction Advances
OGG sits 28% above its 52-week low of $2.18 on light trading volume (0.3× avg).
Summary
Osisko Gold reported Q2 2026 revenue of C$32.7 million and operating income of C$8.1 million, backed by C$837.3 million in cash after a US$300 million convertible notes offering. Cariboo Gold Project pre-construction is advancing with 2.7 km of underground development and Valley Portal excavation.
Key Events · Earnings and Guidance · OGG
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Q2 Revenue and Operating Income
Revenue of C$32.7 million (vs C$6.9 million in Q2 2025) from selling 5,547 ounces of gold at Tintic, generating operating income of C$8.1 million versus a C$16.3 million loss a year earlier.
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US$300M Convertible Notes Completed
Closed a US$300 million convertible senior notes offering (4.125% due 2031) in May 2026, adding to the US$450 million Appian project loan facility; cash position stands at C$837.3 million.
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Cariboo Pre-Construction Progress
Underground development reached 2.7 km, Valley Portal excavation commenced, and camp expanded to 358 rooms; water treatment plant full operation expected in Q3 2026.
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Infill Drilling Reconciliation
Preliminary analysis of 17,072 metres in 185 holes shows Zone 1 with 30% more tonnes and 6% more ounces at 18% lower grade; Zone 2 with 8% fewer tonnes and 8% more ounces at 16% higher grade.
Analysis · OGG · Energy & Transportation
A swing to C$8.1 million in operating income from a C$16.3 million loss a year earlier underscores the impact of small-scale gold sales at Tintic. The balance sheet is fortified with C$837.3 million in cash following a US$300 million convertible notes offering, earmarked for the Cariboo Gold Project's pre-construction. Underground development has reached 2.7 km and Valley Portal excavation is underway, while infill drilling reconciliation shows more tonnes in Zone 1 but lower grade. The project remains pre-production with no commercial cash flow yet.
At the time of this filing, OGG was trading at $2.79 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $834.6M. The 52-week trading range was $2.18 to $4.80. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.