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Stock impact report

Analysts Remain Bullish on Osisko Development as It Acquires 8.57 Million Units of Niobay Metals Inc. [Yahoo! Finance]

Osisko Development Corp. Common Shares (ODV) 
Company Research Source: Yahoo! Finance
All analysts covering remain bullish on Osisko Development Corp. (NYSE:ODV), keeping a consensus Buy rating on the shares. The median price target is set at $5.06, indicating an upside of 43% as of January 5. 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 spaci Show less Read more
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