Orogen Royalties Inc Stock Price, News & Analysis

Orogen Royalties (OTCQX:OGNRF) has completed its previously announced plan of arrangement with Triple Flag Precious Metals in a transaction valued at approximately $421 million ($2.00 per share). The deal structure includes $171.5 million in cash, $171.5 million in Triple Flag shares, and Orogen SpinCo shares valued at $78 million.

Shareholders will receive varying combinations of Triple Flag shares, cash, and Orogen SpinCo shares based on their elections. Triple Flag has made a $10 million strategic investment in Orogen SpinCo, subscribing for 6,756,757 shares at $1.48 per share. The new Orogen Royalties Inc. will begin trading on July 11, 2025, with 59,359,932 shares outstanding.

The companies have also agreed to form an exploration alliance in the western United States, with an initial budget of US$435,000 focused on gold and silver targets similar to the Arthur gold project.

Orogen Royalties (OTCQX:OGNRF) announced that shareholders have overwhelmingly approved the plan of arrangement with Triple Flag Precious Metal Corp. Under the arrangement, shareholders will receive $1.63 in cash or 0.05355 Triple Flag shares, plus 0.25 SpinCo shares for each Orogen share held.

The arrangement received strong support with 99.36% approval from voting shareholders, representing 75.95% of outstanding shares. The transaction is expected to close on July 9, 2025, pending court and TSX Venture Exchange approval. After closing, Orogen shares will be delisted, and SpinCo will begin trading as Orogen Royalties Inc. under TSX.V:OGN.

Orogen Royalties (OGNRF) has announced the filing and distribution of its management information circular for the upcoming Annual General and Special Meeting on June 27, 2025. The key focus is a special resolution to approve an arrangement with Triple Flag Precious Metals Corp., agreed upon on April 21, 2025. The Board unanimously recommends shareholders vote FOR the arrangement, citing benefits including significant premium, excellent value for the Silicon Project, immediate liquidity, and enhanced exposure through SpinCo. Orogen's portfolio includes royalties on the Ermitaño mine (2.0% NSR) and Expanded Silicon project (1.0% NSR). Shareholders must vote by June 25, 2025, at 10:00 a.m. Pacific time.

Orogen Royalties (OGNRF) reported strong Q1-2025 financial results with net income of $1.8M, up 500% YoY. Royalty revenue reached $2.1M from 497 gold equivalent ounces at Ermitaño mine. The company generated $1.2M in operating cash flow and maintains $28M working capital with no debt. First Majestic's drilling at Navidad discovery expanded mineralization significantly, with the Winter Vein extended by 175m and Navidad Vein by 325m. The combined strike length now reaches 1.3km with 450m down dip. Notably, Triple Flag Precious Metals is set to acquire Orogen for $421M ($2.00/share) through a combination of cash, shares, and spinco shares, subject to regulatory approval.

Orogen Royalties reported strong financial results for 2024, with net income from operations reaching $4.3 million, up 126% from 2023. The company achieved record royalty revenue of $7.9 million, with 2,343 gold equivalent ounces sold at an average price of US$2,420 per ounce.

Key highlights include:

• Working capital increased to $26.8 million
• Cash flow from operations grew 73% to $3.8 million
• G&A expenses decreased 16% to $3.7 million

The company announced a significant $421 million acquisition agreement with Triple Flag Precious Metals, offering shareholders $2.00 per share through a combination of cash, Triple Flag shares, and shares in a new spin-off company. The spin-off will retain the cash-flowing Ermitaño royalty and other assets.

At the Ermitaño Mine, where Orogen holds a 2.0% NSR royalty, production increased with 1,012,523 tonnes of ore processed in 2024, up 15% from 2023. The mine reported improved silver and gold recoveries of 68% and 95% respectively.

Triple Flag Precious Metals (TSX/NYSE: TFPM) has announced a definitive agreement to acquire Orogen Royalties in a transaction valued at approximately C$421 million (C$2.00 per share). The deal structure includes C$171.5M in cash, C$171.5M in Triple Flag shares, and shares in a new company (Orogen Spinco) valued at C$78M.

The key asset being acquired is a 1.0% NSR royalty on the Expanded Silicon gold project in Nevada, operated by AngloGold Ashanti. The project represents North America's largest new gold discovery, with current resources including 12.1M ounces at Merlin and 4.2M ounces at Silicon.

Orogen shareholders will receive either C$1.63 in cash or 0.05355 Triple Flag shares per Orogen share, plus 0.25 shares in Orogen Spinco. The deal represents a 38% premium based on closing prices as of April 17, 2025. Triple Flag will separately invest C$10M in Orogen Spinco for an 11% stake.

Orogen Royalties (OGNRF) announced significant updates to its Ermitaño gold mine royalty in Sonora, Mexico. The highlight is an initial Inferred resource for the Navidad vein system, containing 5.9 million ounces of silver and 249,000 ounces of gold at grades of 81 g/t and 3.42 g/t respectively.

The company holds a 2% NSR royalty on the 167 square-kilometre Ermitaño concession. The Navidad resource represents only a portion of the newly delineated vein system, with 55,000 metres of drilling planned in 2025 to explore further potential. The Measured and Indicated resource decreased due to mineral depletion, while the Inferred resource saw a 260% year-on-year increase in contained gold.

Several areas remain open for exploration, including the Luna vein to the east and the Navidad and Winter veins in multiple directions.

Orogen Royalties (OGNRF) reported record financial results for 2024, with total revenue reaching $9.9 million, up 22% from 2023. Key highlights include:

- Ermitaño royalty revenue increased 34% to $7.9 million
- Pre-tax net income grew 126% to $4.3 million
- After-tax net income decreased 13% to $2.6 million
- Total cash generated was $7.9 million, with $3.0 million from operations
- Working capital of $26.9 million with no debt

Q4-2024 showed strong performance with total revenue of $4.3 million, up 79% year-over-year. For 2025, the company expects Ermitaño mine royalty revenues between $5.7-6.4 million based on projected production of 71,000-79,000 gold ounces and 1.6-1.8 million silver ounces. The Silicon project reported an updated Inferred Resource of 12.1 million gold ounces at the Merlin deposit, representing a 34% increase.

Orogen Royalties has announced a significant update to their Expanded Silicon project in Nevada, where project owner AngloGold Ashanti reported an updated Inferred Resource of 12.1 million ounces gold at the Merlin deposit. This represents a 34% increase in gold resources, with the deposit now containing 355 million tonnes grading 1.06 g/t gold.

The new Merlin resource shows a 25% increase in tonnes and a 7% increase in gold grade from the February 2024 announcement. This is separate from the 4.22 million ounce gold resource at the Silicon deposit, giving Orogen exposure to approximately 16.31 million ounces of gold through their 1% net smelter return royalty.

Key developments include completion of 132 kilometres of drilling within the Merlin area in 2024, with exploration drilling east of Merlin encountering potential fault offset extension. The pit design has increased 70% in size to 6.3 square kilometres. AngloGold plans to continue drilling into 2025 to support resource upgrades, with a pre-feasibility study expected in H2-2025.