$OGG

Osisko Gold Group Inc.

CIK:0001431852|SEC Filings

Consolidated Statements of Loss - CAD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Loss - CAD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Consolidated Statements of Loss
Revenues	$ 35,478	$ 4,560
Operating expenses
Cost of sales	(13,855)	(4,777)
Other operating costs	(46,860)	(29,000)
General and administrative	(28,380)	(27,430)
Impairment of assets	(28,108)	(5,741)
Operating loss	(81,725)	(62,388)
Finance costs	(6,672)	(8,801)
Share of income (loss) of associates	108	(868)
Change in fair value of warrant liability	(88,438)	19,497
Other income (expense), net	17,187	(4,045)
Loss from continuing activities before income taxes	(159,540)	(56,605)
Income tax recovery (expense)	66	(648)
Net loss from continuing activities	(159,474)	(57,253)
Net loss from discontinued activities	(9,538)	(29,090)
Net loss	$ (169,012)	$ (86,343)
Basic net loss per share from continuing activities (in dollars per share)	$ (0.89)	$ (0.61)
Diluted net loss per share from continuing activities (in dollars per share)	(0.89)	(0.61)
Basic net loss per share from discontinued activities (in dollars per share)	(0.05)	(0.31)
Diluted net loss per share from discontinued activities (in dollars per share)	(0.05)	(0.31)
Basic net loss per share (in dollars per share)	(0.95)	(0.92)
Diluted net loss per share (in dollars per share)	$ (0.95)	$ (0.92)
Weighted average number of shares outstanding, Basic (in shares)	178,203,975	93,825,395
Weighted average number of shares outstanding, Diluted (in shares)	178,203,975	93,825,395

Consolidated Statements of Cash Flows $ in Thousands, $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CAD ($)	Dec. 31, 2024 CAD ($)
Operating activities
Net loss	$ (159,474)	$ (57,253)
Adjustments for:
Share-based compensation	3,996	3,414
Depreciation	6,280	7,813
Finance costs	4,315	4,058
Share of (loss) income of associates	(108)	868
Change in fair value of financial assets and liabilities at fair value through profit and loss	(1,090)	(366)
Change in fair value of warrant liability	88,438	(19,497)
Unrealized foreign exchange (gain) loss	(10,786)	11,124
Deferred income tax (recovery) expense	(543)	648
Impairment of assets	28,108	5,741
Cumulative catch-up adjustment on contract liability	(710)	(78)
Proceeds from contract liability	(212)	(56)
Environmental rehabilitation obligations	18,621
Other	3,281	3,253
Environmental rehabilitation obligations paid	(667)	(2,005)
Net cash flows used in operating activities before changes in non-cash working capital items	(20,551)	(42,336)
Changes in non-cash working capital items	(7,321)	(900)
Net cash flows used in continuing operating activities	(27,872)	(43,236)
Net cash flows provided in discontinued operating activities	2,873	(9,069)
Net cash flows used in operating activities	(24,999)	(52,305)
Investing activities
Additions to mining interests and property, plant and equipment	(95,874)	(36,302)
Additions to exploration and evaluation assets	(7,306)	(9,380)
Proceeds on disposals of property, plant and equipment and assets classified as held for sale	532	4,987
Proceeds on disposals of investments	3,070	3,075
Acquisition of investments in associates	(2,000)	(448)
Acquisition of other investments	(1,200)
Reclamation deposit		585
Other		534
Net cash flows used in continuing investing activities	(102,778)	(36,949)
Net cash flows used in discontinued investing activities	(11)	1,714
Net cash flows used in investing activities	(102,789)	(35,235)
Financing activities
Proceeds from equity financings	362,852	126,851
Other issuance of common shares	98	108
Share and warrant issue expense and financing fees	(21,574)	(4,239)
Proceeds from exercise of warrants and options	3,570
Long-term debt and financing of equipment draw down	141,696	66,788
Repayment of long-term debt and leases	(38,709)	(43,851)
Withholding taxes on settlement of restricted units	(1,071)	(177)
Net cash flows provided by continuing financing activities	446,862	145,480
Net cash flows used in discontinued financing activities	(18)	(10)
Net cash flows provided by financing activities	446,844	145,470
Increase in cash and cash equivalents before impact of exchange rate	319,056	57,930
Effects of exchange rate changes on cash and cash equivalents	(3,344)	5,268
Increase in cash and cash equivalents	315,712	63,198
Cash balance related to asset held for sale	82
Cash and cash equivalents - Beginning of period	106,653	43,455
Cash and cash equivalents - End of period	$ 422,283	$ 106,653

Consolidated Statements of Financial Position $ in Thousands, $ in Thousands, $ in Thousands	Dec. 31, 2025 CAD ($)	Dec. 31, 2024 CAD ($)
Current assets
Cash and cash equivalents	$ 422,283	$ 106,653
Amounts receivable	9,357	2,569
Inventories	7,845	8,695
Other current assets	2,803	4,903
Sub total	442,288	122,820
Assets classified as held for sale	37,523	430
Total current assets	479,811	123,250
Non-current assets
Investments in associates	15,092	12,183
Other investments	15,496	10,333
Mining interests and property, plant and equipment	644,326	593,793
Exploration and evaluation	89,635	86,258
Other assets	17,914	31,085
Total assets	1,262,274	856,902
Current liabilities
Accounts payable and accrued liabilities	30,594	26,294
Current portion of long-term debt and lease liabilities	6,771	40,675
Deferred consideration and contingent payments	3,427	3,597
Contract liability	643	109
Environmental rehabilitation provision	6,970	5,974
Warrant liability	225,000	67,852
Sub total	273,405	144,501
Liabilities associated with assets held for sale	58,446
Total current liabilities	331,851	144,501
Non-current liabilities
Long-term debt and lease liabilities	137,786	5,964
Deferred consideration and contingent payments	5,364	8,635
Contract liability	4,041	42,344
Flow-through premium liability	8,334
Environmental rehabilitation provision	92,209	84,829
Total liabilities	579,585	286,273
Equity
Share capital	1,416,739	1,137,362
Warrants	20,884	11,859
Contributed surplus	20,976	20,228
Accumulated other comprehensive loss	(9,135)	(503)
Deficit	(766,775)	(598,317)
Total shareholder's equity	682,689	570,629
Total liabilities and shareholder's equity	$ 1,262,274	$ 856,902