Osisko Gold Royalties Ltd (TSE: OR) (NYSE: OR) have amended its silver stream interest to the Gibraltar copper mine in British Columbia from 12.5 per cent to 100 per cent.
Announced on Monday, the Gibraltor copper mine is owned by a subsidiary of Taseko Mines Limited (NYSEAMERICAN: TGB) (TSE: TKO). Osisko and Taseko have extended the step-down silver delivery threshold to 6.8 million ounces delivered, reflecting Osisko’s increased silver ownership. In return for these amendments, Osisko paid Taseko an additional deposit of USD$12.7 million.
Taseko concluded these amendments following its March announcement that it had signed an agreement to consolidate a 100 per cent interest in Gibraltar by acquiring the remaining 12.5 per cent interest from Dowa Metals & Mining Co., Ltd. and Furukawa Co., Ltd.
“We are very pleased to have worked in partnership with Taseko to once again increase our silver exposure associated with the Gibraltar mine in BC,” said Jason Attew, president and CEO.
Attew also said that the company’s partner Spartan Resources Limited (ASX: SPR) has achieved significant milestones since the agreement to acquire the Dalgaranga Royalty was announced just over two months ago.
These include obtaining all necessary approvals and permits for underground mining and development. The company has also discovered a new high-grade gold zone named “Freak,” and released an updated Mineral Resource Estimate showing a 68 per cent increase in contained Indicated ounces.
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Osisko draws heavy royalties from all over the world
Osisko Gold Royalties Ltd. is a royalty and streaming company. It possesses a diversified portfolio of over 180 royalty and stream agreements across North and South America, Europe, and Australia.
The company’s flagship assets include a 5 per cent net smelter return (NSR) royalty on the Canadian Malartic mine, one of Canada’s largest gold producers, and a 3–5 per cent NSR royalty on the Éléonore mine operated by Newmont Corporation (TSE: NGT) (NYSE: NEM) in Quebec.
These cornerstone assets form the backbone of Osisko’s revenue, offering significant, long-term cash flow.
Beyond these, Osisko’s agreements extend to emerging and established mining projects. Among these agreements is a notable 2.0 per cent NSR royalty on Calibre Mining Corp’s (TSE: CXB) (OTCMKTS: CXBMF) Nevada gold operations.
This producing asset is a key contributors to Calibre’s output. It includes steady exploration and operational development enhancing their long-term potential. Osisko’s stake in these mines demonstrates its focus on partnering with operators that deliver consistent growth.
Osisko’s portfolio also includes royalties on high-profile projects like the Hermosa project in Arizona, owned by South32. The company’s ability to align with successful operators while investing in development-stage projects further cements its strategic position.
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joseph@mugglehead.com
