+++ Gold Market: Pullbacks Do Not Change the Structural Story +++

Short-term pullbacks are a normal part of the market, including the precious metals market. However, the demand base remains strong: The World Gold Council reports total gold demand of 2,522 metric tons for the first half of 2026, including over-the-counter (OTC) transactions – 2% more than in the same period last year –  and a record value of 380 billion U.S. dollars. At the same time, ETF outflows and weaker jewelry sales were offset by continued robust demand for bars and coins, as well as purchases by the official sector.

Central bank demand also underscores the metal’s strategic importance: 89% of the central banks surveyed by the World Gold Council expect global gold reserves to rise over the next twelve months . This is another reason why exploration and development companies could come more into focus.

Osisko Gold Group: Approved Project with Study Potential

Osisko Gold Group Inc. (formerly Osisko Development) – https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-group-inc/ – focuses on North American gold development projects. At the core of its operations is the 100% owned Cariboo Gold Project in British Columbia. According to the company, the underground project is fully permitted and “shovel-ready”: the Environmental Assessment Certificate was issued on October 10, 2023, and permits under the BC Mines Act and Environmental Management Act followed in the fourth quarter of 2024.

The feasibility study published in April 2025 projects 1.894 million ounces of recoverable gold over ten years, averaging 190,000 ounces per year. Based on an assumed gold price of $2,400 per ounce, the study reports an after-tax NPV5 of 943 million Canadian dollars and an IRR of 22.1%. These are study estimates, not actual financial results, and do not constitute a guarantee of implementation.

The underlying reserve estimate reports 2.071 million ounces of contained gold as “probable” reserves. The company aims to become a medium-sized gold producer. The next major milestone would be advancing the approved project into the construction and subsequent production phases.

Banyan Gold: Resource Growth Meets New Discoveries

Banyan Gold Corp. – https://www.commodity-tv.com/ondemand/companies/profil/banyan-gold-corp/ – owns the AurMac project and other exploration areas in the Yukon. The AurMac mineral resource estimate, as of May 15, 2026, comprises 3.639 million oz of “indicated” and 4.985 million oz of “inferred” gold at 0.68 and 0.58 g/t, respectively. The resource is located on a 303 km² project site with road, power, and communications infrastructure.

The 2026 exploration program provides additional leads. On August 17, Banyan reported 13.03 g/t gold over 14.2 m from Powerline North, including 142.70 g/t gold over 1.0 m. On August 25, results from Seattle Creek on the Nitra- Project showed 0.91 g/t gold and 27.01 g/t silver over 12.1 m; within this interval, 5.70 g/t gold and 544 g/t silver over 0.5 m were reported. At Seattle Creek, only the top 95 m of a 600-meter-long drill hole had been analyzed at that time; further results are still pending.

The exploration potential is significant: the AurMac and Nitra land packages together cover approximately 830 km². Banyan plans to drill approximately 60,000 m at AurMac in 2026 and an additional 10,000 m at regional targets. In addition, an independent PEA for AurMac has been commissioned, which the company expects to receive in the fourth quarter of 2026.

Catalysts and Milestones:

• Osisko: Transition of the fully permitted Cariboo project into implementation, as well as further technical, financial, and operational milestones.
• Osisko: Progress on mine planning, pre-construction preparations, and the subsequent production decision must validate the feasibility study’s findings.
• Banyan: Further results from Powerline North, Seattle Creek, and the remaining 2026 drill targets.
• Banyan: The planned PEA in the fourth quarter of 2026 could provide the first economic assessment of AurMac; key factors include assumptions, costs, metallurgy, permits, and financing.
• Both companies: The gold price, exchange rate, cost of capital, and dilution remain key sensitivities for potential value creation.

Conclusion: two interesting gold stories!

The latest gold market data supports the metal’s long-term relevance, even though short-term setbacks remain possible at any time. Osisko offers the more tangible development path: Cariboo is approved, has undergone economic evaluation, and is set to move toward implementation.

Banyan offers the more dynamic exploration story: AurMac has a current resource, while Powerline North and Nitra are contributing new data points.

The key will be whether the next milestones – implementation at Cariboo, further assay results, and the AurMac PEA – are followed by solid progress. This makes both companies interesting candidates in the gold sector.

Current company information and press releases from Banyan Gold (- https://www.resource-capital.ch/de/unternehmen/banyan-gold-corp/ -) and Osisko Gold Group (- https://www.resource-capital.ch/de/unternehmen/osisko-development-corp/ -).

You can also find further information in our new Precious Metals Report at the following link: https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/.

Sources and Data as of

Data as of: September 7, 2026. Company information, study data, and drilling results are identified as such in the text; the editorial interpretation does not constitute a company forecast.

• World Gold Council: Gold Demand Trends 2026 – Demand, ETF, and Jewelry Markets
• World Gold Council: Central Bank Gold Statistics 2026 – Central Bank Demand
• Osisko Gold Group: About Us – Company Profile and Objectives
• Osisko Gold Group: Cariboo Gold Project – Permits, Study, Reserves, and Resources
• Banyan Gold: AurMac Mineral Resource Estimate – MRE as of May 15, 2026
• Banyan Gold: AurMac PEA and Drilling Program – Company Plans and Expected PEA
• Banyan Gold: Powerline North – Drilling Results as of August 17, 2026
• Banyan Gold: Seattle Creek / Nitra – Drilling Results as of August 25, 2026

Intro-Image: Osisko Gold Group

Important Notice / Disclaimer

This article is a paid marketing communication and not an independent financial analysis. It is distributed on behalf of Osisko Gold Group Inc. and Banyan Gold Corp. SRC swiss resource capital AG has paid investor relations advisory agreements with both companies.

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Forward-Looking Statements and Study Results. Terms such as “plans,” “is expected to,” “anticipates,” or “could” indicate developments that have not yet occurred. Production targets, drilling programs, PEA/feasibility studies, resources, reserves, timelines, financial metrics, and potential resource conversions are based on assumptions and are not guarantees. Mineral resources are not mineral reserves; for inferred resources, the geological and economic significance is further limited. The financial metrics mentioned in this article are study estimates and do not constitute a current company valuation.

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