OR Royalties Announces Preliminary Q2 2025 GEO Deliveries Along with Record Quarterly Revenue & Cash Margin
OR Royalties (NYSE:OR) has reported strong preliminary Q2 2025 results, achieving record quarterly performance. The company earned 19,700 attributable gold equivalent ounces (GEOs) and recorded record quarterly revenues of $60.4 million from royalties and streams. The company achieved a remarkable cash margin of $57.8 million (95.8%).
The company's financial position remains solid with a cash position of $49.6 million as of June 30th, 2025. During Q2, OR Royalties made significant debt repayments, reducing its revolving credit facility by $40.0 million. The facility had a balance of $35.7 million at quarter-end, with $614.3 million still available plus an uncommitted accordion of $200.0 million. Post quarter-end, an additional $10.0 million was paid down, further reducing the outstanding balance to $25.7 million.
OR Royalties (NYSE:OR) ha riportato risultati preliminari solidi per il secondo trimestre del 2025, raggiungendo una performance trimestrale da record. La società ha prodotto 19.700 once equivalenti d'oro attribuibili (GEOs) e registrato ricavi trimestrali record di 60,4 milioni di dollari derivanti da royalties e flussi. L'azienda ha ottenuto un notevole margine di cassa di 57,8 milioni di dollari (95,8%).
La posizione finanziaria dell'azienda resta solida con una liquidità di 49,6 milioni di dollari al 30 giugno 2025. Nel secondo trimestre, OR Royalties ha effettuato importanti rimborsi di debito, riducendo la linea di credito revolving di 40,0 milioni di dollari. Al termine del trimestre, il saldo della linea era di 35,7 milioni di dollari, con 614,3 milioni di dollari ancora disponibili più una linea aggiuntiva non impegnata di 200,0 milioni di dollari. Dopo la chiusura del trimestre, sono stati rimborsati ulteriori 10,0 milioni di dollari, portando il saldo residuo a 25,7 milioni di dollari.
OR Royalties (NYSE:OR) ha reportado sólidos resultados preliminares para el segundo trimestre de 2025, logrando un desempeño trimestral récord. La compañía generó 19,700 onzas equivalentes de oro atribuibles (GEOs) y registró ingresos trimestrales récord de 60.4 millones de dólares provenientes de regalías y flujos. La empresa alcanzó un notable margen de efectivo de 57.8 millones de dólares (95.8%).
La posición financiera de la compañía se mantiene sólida con una posición de efectivo de 49.6 millones de dólares al 30 de junio de 2025. Durante el segundo trimestre, OR Royalties realizó importantes pagos de deuda, reduciendo su línea de crédito revolvente en 40.0 millones de dólares. Al cierre del trimestre, el saldo de la línea era de 35.7 millones de dólares, con 614.3 millones de dólares aún disponibles más una línea adicional no comprometida de 200.0 millones de dólares. Posterior al cierre del trimestre, se pagaron otros 10.0 millones de dólares, reduciendo aún más el saldo pendiente a 25.7 millones de dólares.
OR Royalties (NYSE:OR)는 2025년 2분기 예비 실적에서 강력한 성과를 보고하며 분기별 최고 실적을 달성했습니다. 회사는 19,700 귀속 금 등가 온스(GEOs)를 생산했고, 로열티 및 스트림에서 분기별 최고 매출 6,040만 달러를 기록했습니다. 회사는 현금 마진 5,780만 달러(95.8%)라는 뛰어난 성과를 보였습니다.
회사의 재무 상태는 2025년 6월 30일 기준으로 현금 보유액 4,960만 달러로 견고합니다. 2분기 동안 OR Royalties는 상당한 부채 상환을 진행하여 회전 신용 한도를 4,000만 달러 줄였습니다. 분기 말 신용 한도 잔액은 3,570만 달러였으며, 6억 1,430만 달러가 여전히 이용 가능하며, 추가로 2억 달러의 비약정 확장 가능액이 있습니다. 분기 종료 후 추가로 1,000만 달러를 상환하여 미상환 잔액을 2,570만 달러로 더 줄였습니다.
OR Royalties (NYSE:OR) a annoncé de solides résultats préliminaires pour le deuxième trimestre 2025, atteignant une performance trimestrielle record. La société a produit 19 700 onces équivalentes or attribuables (GEOs) et enregistré des revenus trimestriels record de 60,4 millions de dollars issus des redevances et des flux. L'entreprise a réalisé une remarquable marge de trésorerie de 57,8 millions de dollars (95,8%).
La position financière de la société reste solide avec une trésorerie de 49,6 millions de dollars au 30 juin 2025. Au cours du deuxième trimestre, OR Royalties a effectué des remboursements importants de dettes, réduisant sa facilité de crédit renouvelable de 40,0 millions de dollars. La facilité affichait un solde de 35,7 millions de dollars à la fin du trimestre, avec 614,3 millions de dollars encore disponibles ainsi qu'une extension non engagée de 200,0 millions de dollars. Après la fin du trimestre, un paiement supplémentaire de 10,0 millions de dollars a été effectué, réduisant encore le solde restant à 25,7 millions de dollars.
OR Royalties (NYSE:OR) hat starke vorläufige Ergebnisse für das zweite Quartal 2025 gemeldet und eine rekordverdächtige Quartalsleistung erzielt. Das Unternehmen erwirtschaftete 19.700 zurechenbare Goldäquivalent-Unzen (GEOs) und verzeichnete rekordverdächtige Quartalserlöse von 60,4 Millionen US-Dollar aus Lizenzgebühren und Streams. Das Unternehmen erreichte eine bemerkenswerte Barmarge von 57,8 Millionen US-Dollar (95,8%).
Die finanzielle Lage des Unternehmens bleibt solide mit einer Bargeldposition von 49,6 Millionen US-Dollar zum 30. Juni 2025. Im zweiten Quartal tätigte OR Royalties bedeutende Schuldenrückzahlungen und reduzierte seine revolvierende Kreditlinie um 40,0 Millionen US-Dollar. Die Kreditlinie hatte zum Quartalsende einen Saldo von 35,7 Millionen US-Dollar, mit noch 614,3 Millionen US-Dollar verfügbar sowie einer nicht gebundenen Erweiterungsoption von 200,0 Millionen US-Dollar. Nach Quartalsende wurden weitere 10,0 Millionen US-Dollar zurückgezahlt, wodurch der ausstehende Saldo auf 25,7 Millionen US-Dollar sank.
- Record quarterly revenue of $60.4 million from royalties and streams
- Strong cash margin of $57.8 million (95.8%)
- Significant debt reduction with $40.0 million paid on revolving credit facility in Q2
- Substantial available credit facility of $614.3 million plus $200.0 million accordion
- Higher realized gold prices at $3,280/oz compared to $2,338/oz in Q2 2024
- Slight decrease in cash margin percentage from 96.6% in Q2 2024 to 95.8% in Q2 2025
- Higher cost of sales (excluding depletion) at $2.56M vs $1.63M in Q2 2024
Insights
OR Royalties delivers record quarterly revenue of $60.4M with exceptional 95.8% cash margins amid elevated gold prices.
OR Royalties' preliminary Q2 2025 results demonstrate robust financial performance during a period of strong gold prices averaging
The company's balance sheet has strengthened considerably with aggressive debt reduction, repaying
The company's financial flexibility remains exceptional with
The
MONTRÉAL, July 07, 2025 (GLOBE NEWSWIRE) -- OR Royalties Inc. (“OR Royalties” or the “Company”) (OR: TSX & NYSE) is pleased to provide an update on its second quarter 2025 preliminary deliveries, revenues and cash margin, as well as on its cash and debt positions as at June 30th, 2025. All monetary amounts included in this report are expressed in United States dollars, unless otherwise noted.
PRELIMINARY Q2 2025 RESULTS
OR Royalties earned 19,700 attributable gold equivalent ounces1 (“GEOs”) in the second quarter of 2025.
OR Royalties recorded preliminary revenues from royalties and streams of
As at June 30th, 2025, OR Royalties’ cash position was approximately
Subsequent to quarter-end, OR Royalties paid down an additional
Q2 2025 RESULTS CONFERENCE AND WEBCAST CALL DETAILS
OR Royalties provides notice of the second quarter 2025 results and conference and webcast call details.
| Results Release: | Tuesday, August 5th, 2025 after market close |
| Conference Call: | Wednesday, August 6th, 2025 at 10:00 am ET |
| Dial-in Numbers: (Option 1) | North American Toll-Free: 1 (800) 717-1738 Local – Montreal: 1 (514) 400-3792 Local – Toronto: 1 (289) 514-5100 Local – New York: 1 (646) 307-1865 Conference ID: 57040 |
| Webcast link: (Option 2) | https://viavid.webcasts.com/starthere.jsp?ei=1725297&tp_key=efb4711705 |
| Replay (available until Saturday, September 6th, at 11:59 PM ET): | North American Toll-Free: 1 (888) 660-6264 Local – Toronto: 1 (289) 819-1325 Local – New York: 1 (646) 517-3975 Playback Passcode: 57040# |
Replay also available on our website at www.ORroyalties.com | |
Notes
The figures presented in this press release, including the cash and debt balances, and the revenues and costs of sales, have not been audited and are subject to change. As the Company has not yet finished its quarter end procedures, the anticipated financial information presented in this press release is preliminary, subject to quarter end adjustments, and may change materially.
(1) Gold Equivalent Ounces
GEOs are calculated on a quarterly basis and include royalties and streams. Silver and copper earned from royalty and stream agreements are converted to gold equivalent ounces by multiplying the silver ounces or copper tonnes earned by the average silver price or copper price for the period and dividing by the average gold price for the period. Cash royalties and other metals and commodities are converted into gold equivalent ounces by dividing the associated revenue earned by the average gold price for the period.
Average Metal Prices
| Three months ended June 30 | |||||
| 2025 | 2024 | ||||
| Gold(i) | |||||
| Silver(ii) | |||||
| Copper(iii) | |||||
| (i) | The London Bullion Market Association’s pm price in U.S. dollars per ounce. | ||||
| (ii) | The London Bullion Market Association’s price in U.S. dollars per ounce. | ||||
| (iii) | The London Metal Exchange’s price in U.S. dollars per tonne. | ||||
(2) Non-IFRS Measures
Cash margin in dollars and in percentage of revenues are non-IFRS financial measures. Cash margin (in dollars) is defined by OR Royalties as revenues less cost of sales (excluding depletion). Cash margin (in percentage of revenues) is obtained by dividing the cash margin (in dollars) by the revenues.
Management uses cash margin in dollars and in percentage of revenues to evaluate OR Royalties’ ability to generate positive cash flow from its royalty, stream and other interests. Management and certain investors also use this information, together with measures determined in accordance with IFRS Accounting Standards such as gross margin and operating cash flows, to evaluate OR Royalties’ performance relative to peers in the mining industry who present these measures on a similar basis. Cash margin in dollars and in percentage of revenues are only intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. They do not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers.
A reconciliation of the cash margin (in thousands of dollars and in percentage of revenues) is presented below:
| Three months ended June 30 | ||||
| 2025 | 2024 | |||
| Revenues | ||||
| Less: Cost of sales (excluding depletion) | (2,560 | ) | (1,628 | ) |
| Cash margin (in dollars) | ||||
| Cash margin (in percentage of revenues) | ||||
About OR Royalties Inc.
OR Royalties is a precious metals royalty and streaming company focused on Tier-1 mining jurisdictions defined as Canada, the United States, and Australia. OR Royalties commenced activities in June 2014 with a single producing asset, and today holds a portfolio of over 195 royalties, streams and similar interests. OR Royalties’ portfolio is anchored by its cornerstone asset, the 3
OR Royalties’ head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.
For further information, please contact OR Royalties Inc.:
| Grant Moenting Vice President, Capital Markets Tel: (514) 940-0670 x116 Cell: (365) 275-1954 Email: gmoenting@orroyalties.com | Heather Taylor Vice President, Sustainability and Communications Tel: (514) 940-0670 x105 Email: htaylor@orroylaties.com |
Forward-Looking Statements
Certain statements contained in this press release may be deemed “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking statements are statements other than statements of historical fact, that address, without limitation, future events, that preliminary financial information may be subject to quarter-end adjustments, and the availability of the uncommitted accordion of the credit facility. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions or variations (including negative variations), or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, most of which are beyond the control of OR Royalties, and actual results may accordingly differ materially from those in forward-looking statements. Such risk factors include, without limitation, (i) with respect to properties in which OR Royalties holds a royalty, stream or other interest; risks related to: (a) the operators of the properties, (b) timely development, permitting, construction, commencement of production, ramp-up (including operating and technical challenges), (c) differences in rate and timing of production from Mineral Resource Estimates or production forecasts by operators, (d) differences in conversion rate from Mineral Resources to Mineral Reserves and ability to replace Mineral Resources, (e) the unfavorable outcome of any challenges or litigation relating title, permit or license, (f) hazards and uncertainty associated with the business of exploring, development and mining including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding and other natural disasters or civil unrest or other uninsured risks, (ii) with respect to other external factors: (a) fluctuations in the prices of the commodities that drive royalties, streams, offtakes and investments held by OR Royalties, (b) a trade war or new tariff barriers, (c) fluctuations in the value of the Canadian dollar relative to the U.S. dollar, (d) regulatory changes by national and local governments, including permitting and licensing regimes and taxation policies, regulations and political or economic developments in any of the countries where properties in which OR Royalties holds a royalty, stream or other interest are located or through which they are held, (e) continued availability of capital and financing and general economic, market or business conditions, and (f) responses of relevant governments to infectious diseases outbreaks and the effectiveness of such response and the potential impact of such outbreaks on OR Royalties’ business, operations and financial condition; (iii) with respect to internal factors: (a) business opportunities that may or not become available to, or are pursued by OR Royalties, (b) the integration of acquired assets or (c) the determination of OR Royalties’ PFIC status (d) that preliminary financial information may be subject to quarter end adjustments. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the absence of significant change in OR Royalties’ ongoing income and assets relating to determination of its PFIC status, and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended and, with respect to properties in which OR Royalties holds a royalty, stream or other interest, (i) the ongoing operation of the properties by the owners or operators of such properties in a manner consistent with past practice and with public disclosure (including forecast of production), (ii) the accuracy of public statements and disclosures made by the owners or operators of such underlying properties (including expectations for the development of underlying properties that are not yet in production), (iii) no adverse development in respect of any significant property, (iv) that statements and estimates relating to mineral reserves and resources by owners and operators are accurate and (v) the implementation of an adequate plan for integration of acquired assets.
For additional information on risks, uncertainties and assumptions, please refer to the most recent Annual Information Form of OR Royalties filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov which also provides additional general assumptions in connection with these statements. OR Royalties cautions that the foregoing list of risk and uncertainties is not exhaustive. Investors and others should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. OR Royalties believes that the assumptions reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be accurate as actual results and prospective events could materially differ from those anticipated such the forward-looking statements and such forward-looking statements included in this press release are not guarantee of future performance and should not be unduly relied upon. These statements speak only as of the date of this press release. OR Royalties undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.
FAQ
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