Orogen Royalties Inc Stock Price, News & Analysis

Orogen Royalties Inc. announced its Q1-2022 financial results, marking a profitable quarter with revenues of $940,068. This includes $738,842 from the Ermitaño royalty and $182,459 from prospect generation. The company recognized a net income of $426,081 or $0.002 per share, a significant improvement from last year’s loss of $759,706. Total attributable gold equivalent ounces sold amounted to 315. Orogen's cash position remains strong, with working capital of $10,986,322.

Orogen Royalties Inc. has signed an option agreement with Riverside Resources Inc. for the Llano de Nogal copper-gold project in Sonora, Mexico. Riverside can earn a 100% interest by making cash payments of US$2.48 million and spending US$5 million on exploration over six years. Orogen will retain a 1% production royalty. Initial exploration plans are budgeted at US$1 million. The project is strategically located near major copper deposits, enhancing its potential for discovery.

Orogen Royalties Inc. has announced the election of Mr. Justin Quigley as chairman of the board. Quigley, who joined the board in August 2021, has played a crucial role in supporting the company's corporate strategy. Orogen is positioned as a cash-flowing royalty company with active royalty assets including the producing Ermitaño deposit and the Silicon gold project. Quigley brings substantial experience in mergers and acquisitions and legal expertise in mineral exploration, aiming to enhance governance and sustainable business practices at Orogen.

Orogen Royalties Inc. announced that AngloGold Ashanti reported a maiden 3.37 million ounce inferred gold resource at the Central-Silicon zone of the Silicon gold project in Nevada. Orogen holds a 1% net smelter return royalty on the project. Key highlights include plans for 300,000 ounces annual production and ongoing drilling at Central-Silicon and Merlin zones. AngloGold aims to establish a low-cost, long-life production base in Nevada, with prefeasibility studies planned for 2022 and 2023.

Orogen Royalties Inc. (OGNRF) announced it has received its first quarterly royalty payment of approximately US$480,000 from production at the Ermitaño deposit in Mexico. This revenue resulted from the sale of 13,479 ounces of gold and 66,338 ounces of silver and represents a 60% increase over previous estimates. Additionally, ongoing exploration has revealed a new discovery, Ermitaño-Luna, which may further enhance Orogen's royalty position. Expected total royalty revenue for 2022 is US$1.85 million.

Orogen Royalties Inc. has signed an agreement to sell its Onjo copper-gold project in British Columbia to Pacific Ridge Exploration Ltd. for $50,000 cash, 750,000 common shares, and a 2.0% net smelter return royalty. The project, located near Centerra Gold's Mount Milligan Mine, shows potential due to historical drilling that indicated a 500 by 500 metre zone of copper-gold mineralization. This sale aligns with Orogen's strategy to expand its royalty portfolio.

Orogen Royalties Inc. has appointed Brian Massey as President and CEO of Ball Creek SpinCo, a company to be formed from the spinout of the Ball Creek copper-gold project in British Columbia's Golden Triangle. Massey brings over 15 years of mining industry experience, including key roles at BHP and Rio Tinto. The spinout, designed to enhance shareholder value, will involve distributing SpinCo shares to existing Orogen shareholders. Completion of this transaction is anticipated by mid-2022, subject to regulatory approvals.

Orogen Royalties Inc. (TSXV:OGN)(OTCQX:OGNRF) provided an annual update on its prospect generation activities in North America. Key highlights include partner-funded exploration totaling $3.2 million with drilling campaigns of 6,350 metres, and income of $1.9 million from various partnerships. The company's disciplined management strategy resulted in cash and share payments, enhancing its royalty interests. Future exploration will include seven partner-funded drilling programs in 2022, increasing opportunities for new discoveries.

Orogen Royalties Inc. announced an agreement with K2 Gold Corporation to option its Si2 gold project in Nevada. K2 can earn a 100% interest by making cash payments of US$2.5 million and spending US$2.5 million on exploration over five years, while Orogen retains a 2.0% net smelter return (NSR) royalty. The Si2 project has shown potential for hosting a low-sulphidation epithermal gold deposit based on initial drilling results indicating gold and mercury anomalies.