Investments in associates and other investments (Tables)

12 Months Ended

Dec. 31, 2025

Investments in associates and other investments


		2025		2024
		$		$

Balance – Beginning of year		12,183		13,034
Investment in associates⁽ⁱ⁾		2,550		448
Share of income (loss) and comprehensive income (loss), net		306		(1,665)
Gain on ownership dilution		53		366
Balance – End of year		15,092		12,183

(i)

On December 20, 2024, the Company acquired 1,790,000 units of Falco Resources Ltd. (“Falco”) at a price of $0.25 per unit for an aggregate amount of $0.4 million. On October 17, 2025, the Company acquired 6,250,000 units at a price of $0.32 per unit for an aggregate amount of $2.0 million. Each units consists of one common shares of Falco and one-half common share warrant. As at December 31, 2025, Osisko Development holds an interest of 15.9% in the outstanding shares of Falco.

Schedule of other investments


		2025		2024
		$		$
Fair value through profit or loss (warrants)
Balance – Beginning of year		370		4
Acquisitions		917		298
Change in fair value		173		68
Balance – End of year		1,460		370

Fair value through other comprehensive income (shares)
Balance – Beginning of year		9,963		19,389
Acquisitions		1,200		—
Disposal		(3,071)		(3,060)
Change in fair value		5,944		(6,366)
Balance – End of year		14,036		9,963
Total		15,496		10,333