OR News & Events

OR Royalties announced that it has entered into a binding agreement with Canadian Copper with respect to a $28M precious metals stream on Canadian Copper's New Brunswick assets, comprising the Murray Brook properties and the Caribou property, including the Caribou Processing Plant. The stream being acquired is on Canadian Copper's brownfield Murray Brook and Caribou properties located in the Bathurst Mining Camp of New Brunswick, Canada. Canada is defined by OR Royalties as a Tier-1 mining jurisdiction. The brownfield nature of Canadian Copper's 100%-owned Murray Brook deposit and the formerly-operating and permitted Caribou Complex is expected to support an accelerated permitting and development path whereby first production is expected from the Project by 2029. Concurrent $35M concentrate prepayment facility provided by Ocean Partners secures the full construction financing required to advance the project into commercial production. The transaction is expected to add GEOs over-and-above OR Royalties' 2030 five-year outlook range of 120,000-135,000 GEOs, originally disclosed in February 2026. The stream consists entirely of silver and gold, providing OR Royalties with additional exposure to precious metals.

OR Royalties recorded preliminary revenues from royalties and streams of $102.8M during the first quarter, a quarterly record, and preliminary cost of sales of $3.3M, resulting in a quarterly cash margin of approximately $99.5M. As at March 31, OR Royalties' cash position was approximately $94.9M, after repurchases of common shares made under the normal course issuer bid of $12.9M during the first quarter, and also following the end-of-March closing of the additional Namdini 1% net smelter return royalty transaction, originally announced in January, which was funded using available cash on the balance sheet.

OR Royalties has entered into a definitive agreement to acquire Terraco Gold, a wholly-owned subsidiary of Sailfish Royalty, which indirectly owns net smelter return royalty assets, or the NSR Royalties, largely consisting of royalties that cover Solidus' Spring Valley Gold Project in Pershing County, Nevada. OR Royalties is acquiring Terraco and the NSR Royalties for total cash consideration of $168M. The transaction is expected to be completed in the first half of 2026. Following the closing of the Transaction, OR Royalties will own, on a combined basis: a 6.0% NSR royalty on the Schmidt Claims, a 4.0% NSR royalty on the Additional Royalty Areas, and a 1.0% NSR royalty on the Perimeter Royalty Area. The transaction is expected to add GEOs over-and-above OR Royalties' recently released 2030 5-yr outlook range of 120,000-135,000 GEOs. Spring Valley is construction-ready and Solidus expects to achieve first gold production in the first half of 2028.