OR Royalties Inc Stock Price, News & Analysis

Osisko Gold Royalties (OR: TSX & NYSE) has completed two significant transactions: First, an amendment to its Gibraltar mine silver stream, increasing its attributable silver percentage by 12.5% to 100% for US$12.7 million. The step-down silver delivery threshold has been extended to 6,811,603 ounces. Second, the company closed the acquisition of a 1.8% gross revenue royalty on the Dalgaranga Gold project for US$44 million, plus a 1.35% GRR on nearby exploration licenses for US$6 million.

At Dalgaranga, operator Spartan Resources has achieved key milestones including obtaining underground mining permits, discovering a new high-grade gold zone called "Freak", and reporting a 68% increase in Indicated ounces in an updated Mineral Resource Estimate. Spartan also raised A$220 million to accelerate the project's restart over the next 24 months.

Osisko Gold Royalties (OR: TSX & NYSE) announced the renewal of its Normal Course Issuer Bid (NCIB) Program, approved by the Toronto Stock Exchange (TSX). The company may acquire up to 9,331,275 common shares from December 12, 2024, to December 11, 2025, representing approximately 5% of its issued and outstanding shares as of November 30, 2024. Daily purchases are capped at 73,283 shares, except for block purchases. Shares will be bought at the prevailing market price or at a discount through alternative means and will be canceled post-purchase. The Board believes this will enhance shareholder value. Under the previous NCIB Program, Osisko purchased 26,000 shares at an average price of $22.48 per share.

Osisko Gold Royalties provides updates on several key assets in its portfolio. At Mantos Blancos, plant throughput is reaching nameplate capacity of 20,000 tpd. Island Gold District is advancing its Phase 3+ Expansion, with potential for further expansion. Éléonore mine is being sold to Dhilmar for US$795 million. Namdini Gold Mine achieved first gold pour in November 2024. Dalgaranga Project received approvals for underground mining and discovered a new gold zone. Hermosa Project continues construction progress with US$124 million invested in Q3 2024. Multiple other assets showed positive developments, including first royalty payment from Tocantinzinho and advancement at various exploration and development projects.

Osisko Gold Royalties (OR: TSX & NYSE) has declared a fourth quarter 2024 dividend of C$0.065 per common share, payable on January 15, 2025, to shareholders of record as of December 31, 2024. The company reminds shareholders of its dividend reinvestment plan (DRIP) available to residents of Canada and the United States. Shareholders can participate in the DRIP for the upcoming dividend payment by consulting with their financial advisors or contacting the transfer agent directly.

Osisko Gold Royalties reported Q3 2024 financial results with operating cash flows of $47.2 million, up from $43.5 million in Q3 2023. The company earned 18,408 gold equivalent ounces (GEOs) and generated revenues of $57.3 million from royalties and streams. Net earnings were $18.3 million ($0.10 per share), compared to a net loss of $20.0 million in Q3 2023. The company maintained a strong cash margin of 96.3% and ended the quarter with a cash balance of $58.5 million and debt of $80.7 million. Notable developments include the acquisition of a 6% gold stream on SolGold's Cascabel project for US$225.0 million and a binding agreement to acquire royalties on the Dalgaranga Gold Project.

Osisko Gold Royalties (OR: TSX & NYSE) has released preliminary Q3 2024 results. The company earned 18,408 attributable gold equivalent ounces (GEOs) and recorded preliminary revenues of $57.3 million from royalties and streams. With a cost of sales of $2.2 million, Osisko achieved a quarterly cash margin of $55.1 million (96.3%).

As of September 30th, 2024, Osisko's cash position stood at $58.5 million. The company's revolving credit facility was drawn by $80.7 million, with an additional $469.3 million available plus an uncommitted accordion of up to $200.0 million. Osisko's net debt position was reduced to $22.2 million following debt repayments of $27.3 million in Q3.

The company will host its Q3 2024 results conference call on November 6th, 2024, after market close.

Osisko Gold Royalties (OR: TSX & NYSE) has announced a binding agreement to acquire a 1.8% gross revenue royalty on the Dalgaranga Gold project and a 1.35% gross revenue royalty on additional regional exploration licenses in Western Australia. The total consideration for the transaction is US$50 million, with US$44 million for the Dalgaranga Royalty and US$6 million for the Exploration Royalty.

Key highlights of the transaction include:

• Exposure to a premium gold development project in Western Australia
• Near-term cash flow potential with first production likely within 2 years
• Significant geological potential with ongoing high-grade discoveries
• Fully-permitted processing plant and established infrastructure
• High-grade, long-life, and potentially low-cost future gold mine
• Large and prospective exploration licenses

The transaction is subject to approval from Australia's Foreign Investment Review Board, expected in the coming weeks.

Osisko Gold Royalties (OR: TSX & NYSE) provided select asset updates, highlighting positive developments in its portfolio. Key updates include:

• Upper Beaver Project: Potential for 210,000 oz gold and 3,600 tonnes copper annually, with production possible by 2030.
• Shaakichiuwaanaan Project: PEA results show potential to become one of the largest spodumene producers globally.
• Windfall Project: Gold Fields to acquire 100% ownership through a $2.16 billion transaction.
• CSA Mine: Achieved record quarterly copper production of 10,864 tonnes in Q2 2024.
• Tocantinzinho Mine: Reached commercial production on time and on budget.
• Eagle Gold Mine: Under receivership, with plans to resume operations after cleanup.

Osisko holds various royalties and streams on these projects, positioning it for potential growth and value creation.

Osisko Gold Royalties (OR: TSX & NYSE) has declared a third quarter 2024 dividend of C$0.065 per common share, marking its 40th consecutive quarterly dividend. The dividend will be paid on October 15, 2024 to shareholders of record as of September 30, 2024. This is an "eligible dividend" as defined by Canadian tax law. U.S. shareholders will receive the equivalent in USD based on the Bank of Canada's rate on September 30, 2024.

Osisko also reminds shareholders of its dividend reinvestment plan (DRIP) for Canadian and U.S. residents. Interested shareholders should contact their financial advisors or Osisko's transfer agent for enrollment details. The company emphasizes that participation in the DRIP does not exempt shareholders from taxes on reinvested dividends.