OR Royalties Inc Stock Price, News & Analysis

Osisko Gold Royalties and Franco-Nevada have entered into a Gold Stream agreement with SolGold for the Cascabel copper-gold project in Ecuador. The Stream Purchasers will make initial deposits totaling US$100 million in three tranches for pre-construction costs, followed by additional deposits of US$650 million for construction costs. Osisko will provide 30% of the deposit for a 30% interest in the Gold Stream.

Key highlights include:

• Cascabel is a world-class, long-life Tier-1 copper-gold asset
• The 2024 PFS estimates production of 2.9 million tonnes of copper and 6.9 million ounces of gold over a 28-year mine life
• Potential for mine life extension through near-mine exploration
• Robust Gold Stream with phased investment as the project advances
• Osisko's annual deliveries expected to average 12,000 gold equivalent ounces over the initial mine life

Osisko Gold Royalties reported its Q2 2024 results, revealing 20,068 attributable gold equivalent ounces (GEOs) and $64.8 million in preliminary revenues. The company achieved a record cash margin of approximately $62.6 million. Osisko's cash position stood at $65.7 million after repaying $44.2 million on its revolving credit facility. Key asset updates included the suspension of operations at the Eagle Mine due to a heap leach pad failure, and the first deliveries from the CSA Copper Stream received in early July, which were not included in the Q2 GEO deliveries. The Tocantinzinho project in Brazil is nearing completion, with first gold pour expected soon. Osisko's Q2 2024 results will be discussed in a conference call on August 7, 2024.

Osisko Gold Royalties (OR) has reported that its partner, Victoria Gold Corp., experienced a failure at the heap leach pad of the Eagle Gold Mine in Yukon Territory. Operations have been temporarily suspended while the situation is assessed. Infrastructure damage has occurred, and some material has left containment, though no injuries were reported. Osisko holds a 5% NSR royalty on Eagle until 97,500 ounces of gold are delivered, and a 3% NSR royalty thereafter. The royalty covers the entire Dublin Gulch property, including Eagle, Olive ore deposits, and key exploration targets. Osisko is closely monitoring the situation and maintaining communication with Victoria.

Osisko Gold Royalties announced the results of its annual meeting of shareholders, reporting the election of 9 nominees as directors of the A total of 149,592,121 common shares were present, representing 80.47% of the outstanding shares. The also appointed PricewaterhouseCoopers, LLP as independent auditor and approved various resolutions related to share purchase plans. Osisko Gold Royalties is an intermediate precious metal royalty company with a diverse portfolio of over 185 royalties and streams, anchored by a significant net smelter return royalty on the Canadian Malartic Complex.

Osisko Gold Royalties has declared an 8% increase in the second quarter 2024 dividend, amounting to C$0.065 per common share. This marks the 39th consecutive quarterly dividend, to be paid on July 15, 2024, to shareholders of record as of June 28, 2024. The Company also offers a dividend reinvestment plan for shareholders in Canada and the United States.

Osisko Gold Royalties reported strong Q1 2024 results with operating cash flows of $50.4 million, cash margin of 97%, an 8% increase in quarterly dividend, and various financial achievements. The company earned 22,259 gold equivalent ounces, generated $60.8 million in revenues from royalties and streams, had net earnings of $15.1 million, and adjusted earnings of $29.7 million. Additionally, Osisko made repayments on its credit facility, had a cash balance of $70.6 million, and appointed a new board member. Following the quarter, the company made additional repayments on its credit facility, extended the maturity date, published sustainability reports, declared an increased dividend, and expects stronger GEO deliveries in the future. The CEO expressed confidence in the company's performance and growth prospects.