Osisko Gold Royalties(US:OR) Globenewswire·2026-02-24 11:59Core Viewpoint - OR Royalties Inc. has entered into a definitive agreement to acquire Terraco Gold Corp. for a total cash consideration of $168 million, which includes net smelter return (NSR) royalty assets primarily covering Solidus Resources LLC's Spring Valley Gold Project in Nevada, USA [1][2]. Transaction Highlights - The acquisition includes a 3.0% NSR royalty on the Schmidt Claim Block, a 1.0% NSR royalty on additional areas, a 0.5% NSR royalty on the perimeter area, and a 2.0% NSR royalty on the adjacent Moonlight Property [4][6]. - The NSR Royalties are located in Nevada, ranked 4th globally as a mining jurisdiction, enhancing OR Royalties' portfolio in a Tier-1 mining area [4][6]. - Following the acquisition, OR Royalties will have a combined 6.0% NSR royalty on the Schmidt Claims, a 4.0% NSR royalty on Additional Royalty Areas, and a 1.0% NSR royalty on the Perimeter Royalty Area [4][6]. - The transaction is expected to add gold equivalent ounces (GEOs) beyond the previously released 2030 outlook of 120,000-135,000 GEOs, with first gold production anticipated in the first half of 2028 [4][6]. Project Details - The Spring Valley Project has a mineral reserve of 3.88 million ounces of gold, with a life-of-mine production averaging over 300,000 ounces per year and all-in sustaining costs of approximately $1,103 per ounce [13]. - Solidus Resources has completed extensive technical work and holds all major federal permits, marking the project as ready for construction [6][13]. - The project is expected to be a large-scale, low-cost, heap-leach gold mine, with first production projected for 2028 [6][7]. Strategic Importance - The acquisition is viewed as a high-conviction move to consolidate royalty interests in a fully permitted, multi-million-ounce gold project, enhancing OR Royalties' growth profile [7][10]. - The focus on gold assets aligns with OR Royalties' strategy of acquiring top-tier assets in premier mining jurisdictions [7][10].