OR Royalties Inc. reports developments for a precious metals royalty and streaming company with common shares traded on the TSX and NYSE under OR. The company holds royalties, streams and similar interests concentrated in Tier-1 mining jurisdictions—Canada, the United States and Australia—and its portfolio is anchored by a 3-5% net smelter return royalty on Agnico Eagle Mines Limited’s Canadian Malartic Complex.
Recurring updates cover quarterly operating and financial results, gold-equivalent ounces, royalty and stream revenue, cash flow, dividends, share repurchases and portfolio activity. Company news also includes asset-level updates for mining interests such as Island Gold, Dalgaranga and Glenburgh, annual meeting voting results, board and auditor matters, shareholder rights plan actions and sustainability reporting.
Osisko Gold Royalties Ltd (OR) announced the appointment of Ms. Candace MacGibbon to its Board of Directors. With over 25 years of experience in the mining sector and capital markets, Ms. MacGibbon currently serves as CEO of INV Metals Inc. She is a Chartered Professional Accountant and has held significant roles in various financial institutions. Sean Roosen, Executive Chair, expressed confidence in her leadership and industry knowledge, anticipating positive inspiration for both management and fellow directors.
Osisko Gold Royalties reported preliminary Q4 2020 sales of approximately 18,800 attributable gold equivalent ounces (GEOs), exceeding its guidance of 63,500-65,500 GEOs for the year with a total of about 66,100 GEOs in 2020. Revenues for Q4 were C$64.5 million, resulting in a cash operating margin of C$46.3 million. The company announced the appointment of Heather Taylor as Vice President, Investor Relations. Key updates include production expectations from Canadian Malartic and Mantos Blancos, along with strategic developments at various mining operations.
Osisko Gold Royalties Ltd (OR) has received approval from the Toronto Stock Exchange for a normal course issuer bid (NCIB Program), allowing the acquisition of up to 14,610,718 common shares. The buyback program commences on December 12, 2020, and concludes by December 11, 2021. Daily purchases are capped at 138,366 shares, representing 25% of the average daily trading volume. The aim of the program is to enhance shareholder value, as the board believes the current market price does not reflect the company's underlying value.
Osisko Gold Royalties (TSX & NYSE: OR) announced a historic drill result from Osisko Mining at the Windfall gold project, reporting a remarkable intercept of 13,634 grams per tonne over 2 meters, including 90,700 grams per tonne over 0.3 meters. This achievement underscores the high-grade potential of the Windfall deposit. Osisko Gold holds a 2.0% to 3.0% net smelter return royalty on Windfall and a 14.6% equity stake in Osisko Mining, providing significant exposure to this promising gold asset.
Osisko Gold Royalties Ltd (OR) and Osisko Development Corp. have successfully launched Osisko Development, aiming to become a prominent mid-tier gold producer in North America. An amalgamation of their entities took place after a spin-out transaction, where Osisko Royalties transferred mining properties, including the Cariboo Gold Project, to Osisko Development. The deal culminated in a Reverse Take-Over (RTO), effective November 25, 2020. Osisko Royalties now holds approximately 88% of Osisko Development shares, and management teams have been restructured to enhance operational efficiency.
Osisko Gold Royalties and Barolo Ventures have announced updates regarding their planned reverse take-over (RTO) transaction. Barolo has received conditional approval from the TSX Venture Exchange to list additional shares and consolidate its shares on a 1-for-60 basis. Following the RTO, Barolo will be renamed Osisko Development Corp. Conditional approval demands Barolo meet specific conditions by the TSX-V. The transaction is anticipated to close around November 25, 2020, with shares expected to commence trading under the symbol 'ODV' on December 2, 2020.
Osisko Gold Royalties Ltd (OR) announced a fourth quarter 2020 dividend of C$0.05 per common share. The payment will be made on January 15, 2021, to shareholders of record as of December 31, 2020. For U.S. shareholders, the equivalent amount will be determined based on the Bank of Canada's rate on that date. Additionally, Osisko has implemented a dividend reinvestment plan for its shareholders in Canada and the U.S. This dividend is classified as an 'eligible dividend' per the Income Tax Act (Canada).
Osisko Gold Royalties Ltd reported strong Q3 2020 results, achieving record revenues of $41.2 million, up from $33.9 million in Q3 2019. Operating cash flows reached $36.1 million, while net earnings were $12.5 million or $0.08 per share, contrasting with a loss in the previous year. The company announced a spin-out of assets into Osisko Development and acquired the San Antonio gold project for US$42 million. With $160.7 million in cash and a strong outlook on gold deliveries, Osisko is well-positioned for continued growth.
Osisko Gold Royalties and Barolo Ventures announce the closing of a private placement of 13,350,000 subscription receipts at CDN $7.50 each, raising CDN $100 million. This financing is part of Barolo's 'Reverse Take-Over' (RTO). Each receipt converts to one share post-RTO, along with a warrant for further share purchase at CDN $10.00. The proceeds will be held in escrow until RTO conditions are met by January 31, 2021. Notably, insiders participated, leading to related party transaction considerations under TSX rules.
Osisko Gold Royalties and Barolo Ventures Corp. announced updates on their reverse takeover (RTO) transaction, previously disclosed on October 5, 2020. A definitive amalgamation agreement was executed on October 23, 2020, leading to a three-cornered amalgamation. Following the RTO, Barolo will be renamed Osisko Development Corp., with a share consolidation of 1:60. Concurrently, Osisko will raise CDN $100 million through the sale of 13.35 million subscription receipts at CDN $7.50 each, aimed at funding the Cariboo and San Antonio Gold Projects. Approval from the TSX Venture Exchange is pending.