Osisko Reports Record 2024 Results and Provides 2025 Guidance and New 5-Year Outlook

Core Insights - Osisko Gold Royalties Ltd reported record annual revenues of US$191.2 million and record operating cash flows of US$159.9 million for the year 2024, marking significant growth compared to 2023 [1][4][11] Financial Highlights - The company expects to earn between 80,000-88,000 gold equivalent ounces (GEOs) in 2025, with an average cash margin of approximately 97% [4][12] - Revenues from royalties and streams reached US$191.2 million in 2024, up from US$183.2 million in 2023 [4] - Operating cash flows generated by the company were US$159.9 million in 2024, compared to US$138.4 million in 2023 [4] - Net earnings for 2024 were US$16.3 million, or US$0.09 per basic share, a recovery from a net loss of US$37.4 million, or US$0.20 per basic share, in 2023 [4] - Adjusted earnings were US$97.3 million, or US$0.52 per basic share, compared to US$74.1 million, or US$0.40 per basic share, in 2023 [4][29] Operational Highlights - The company committed over US$287.7 million across three new transactions in 2024, including a US$225 million gold stream agreement with SolGold plc and a US$50 million acquisition of gross revenue royalties from Tembo Capital Mining Fund II [4] - Osisko Bermuda received its first copper delivery from MAC Copper Limited under a copper stream agreement [4] - The company declared quarterly dividends totaling C$0.255 per common share in 2024, an increase from C$0.235 per common share in 2023 [4] 5-Year Outlook - Osisko anticipates its portfolio will generate between 110,000-125,000 GEOs by 2029, assuming production starts at several key projects [7][9] - The outlook includes expected contributions from ongoing mine expansions and new projects, with a robust growth trajectory of over 30% anticipated through 2029 [12][13]