complete a technical report by the end of 2026; the study will consider a larger scale Côté Gold Mine with a conceptual mine plan targeting both the Côté and Gosselin zones over the life of mine.- Borden (0.5% NSR, partial coverage) – Discovery Silver announced on February 10, 2026 that it continues to get encouraging results from underground drilling along a 300m strike length of the Main Zone, with mineralization being extended both along trend to the east and northeast.- Borborema (2.75% NSR) – Aura Mine ...

Core Insights - OR Royalties Inc. reported record annual revenues of $277.4 million and record operating cash flows of $245.6 million for the year-end 2025, marking significant growth compared to previous years [1][5]. Financial Highlights - The company earned 80,775 gold equivalent ounces (GEOs) in 2025, slightly up from 80,740 GEOs in 2024 [5]. - Revenues from royalties and streams reached $277.4 million, a 45% increase from $191.2 million in 2024 [5]. - Operating cash flows increased to $245.6 million, up from $159.9 million in 2024 [5]. - The cash margin was recorded at $268.3 million or 96.7%, compared to $184.4 million or 96.5% in 2024 [5]. - Net earnings were $206.1 million, translating to $1.10 per basic share, a significant rise from $16.3 million or $0.09 per basic share in 2024 [5]. - Adjusted earnings were $165.5 million, or $0.88 per basic share, compared to $97.3 million or $0.52 per basic share in 2024 [5]. Operational Developments - The company is now debt-free after fully repaying its revolving credit facility, with net repayments totaling $94.9 million in 2025 [5]. - A total of 1.1 million common shares were purchased for cancellation at a cost of $36.7 million [5]. - As of December 31, 2025, the cash balance stood at $142.1 million [5]. Strategic Acquisitions - OR Royalties International Ltd. acquired a 100% silver stream on Orla Mining Ltd.'s South Railroad project for $13.0 million [5]. - The company also acquired a 1.5% net smelter return (NSR) royalty from Japan Gold Corp. for $5.0 million [5]. - A basket of royalties across various projects in British Columbia was acquired from Sable Resources Ltd. for C$3.8 million ($2.8 million) [5]. Future Guidance - For 2026, OR Royalties expects GEOs earned to range between 80,000 to 90,000 with an average cash margin of approximately 97% [7]. - The guidance assumes ramp-ups at the Dalgaranga and San Gabriel mines, as well as increased payments from the Namdini mine [8]. - The 5-year outlook anticipates generating between 120,000 and 135,000 GEOs by 2030, factoring in new production from various projects [10]. Management Commentary - The President & CEO highlighted 2025 as a landmark year, emphasizing the company's financial flexibility and growth potential, with expectations of 50% GEO growth by 2030 [14].

Core Viewpoint - OR Royalties Inc. has entered into a definitive agreement to acquire a portfolio of precious metals assets from Gold Fields Limited for a total consideration of $115 million, which includes a 1.5% net smelter return royalty on the San Gabriel gold and silver mine in Peru, expected to enhance the company's gold equivalent ounce deliveries and cash flow [1][3][8]. Transaction Highlights - The acquisition includes eight royalties, with immediate contributions to expected gold equivalent ounces (GEOs) and cash flow from the San Gabriel mine, which began production in December 2025 [3][8]. - The transaction is projected to increase OR Royalties' GEO delivery range to 80,000 - 90,000 in 2026 and 120,000 - 135,000 by 2030, representing approximately 50% growth without requiring contingent capital [3][4]. - The portfolio also includes royalties on development and exploration projects in Tier-1 mining jurisdictions, maintaining a focus on precious metals [3][4]. Acquired Assets - The San Gabriel mine has Proven and Probable Mineral Reserves of 15.3 million tonnes at average grades of 3.71 g/t gold and 6.32 g/t silver, supporting a mine life of 14.6 years [3][4]. - Buenaventura's production guidance for San Gabriel includes 48-55 thousand ounces of gold in 2026, increasing to 95-110 thousand ounces from 2028 onwards [3][4]. - The portfolio features a 2.0% NSR royalty on Torque Metals' Paris project in Australia and a 2.5% NPI royalty on Freeport and Amarc's JOY district exploration project in British Columbia, enhancing exposure to promising development assets [3][4][7]. Additional Considerations - OR Royalties will pay Gold Fields an additional $52 million for deferred payment obligations totaling $60 million related to Galiano's Nkran project, with specific payment milestones tied to gold production [5][6][8]. - The acquisition strengthens OR Royalties' position in the JOY district, complementing existing royalty assets and providing rights to future opportunities in high-grade discoveries [3][4][8].

Tortola, British Virgin Islands--(Newsfile Corp. - February 17, 2026) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQB: SROYF) (the "Company" or "Sailfish") is pleased to announce that, further to its news release dated November 26, 2025 and February 10, 2026, the Company has entered into amended agreements with Mako Mining Corp. ("Mako") and Mako US Corp. ("Mako US") to restructure the consideration payable to Sailfish in connection with the disposition (the "Disposition") of all issued and outstanding member ...

Core Insights - Metalla Royalty & Streaming Ltd. announced preliminary results for 2025, expecting record revenues of $11.7 million, a 99% increase from $5.9 million in 2024 [1] - The company anticipates receiving payments on 3,436 attributable Gold Equivalent Ounces (GEOs), a 38% increase from 2,481 GEOs in 2024 [1] - The company plans to release its 2026 guidance on March 26, 2026, alongside its audited financial statements [1] Preliminary 2025 Results - Record revenue from royalty and stream interests is projected at $11.7 million, up 99% from 2024 [1] - Expected payments on 3,436 GEOs represent a 38% increase compared to 2024 [1] - The company faced ramp-up delays and a safety incident affecting GEOs at Endeavor Mine and Wharf Mine [1] Asset Updates - **Tower Mountain**: Inaugural Indicated Mineral Resource estimate of 514 Koz with 34.5Mt averaging 0.46 g/t gold; Inferred Mineral Resource of 3.05 Moz with 221.1Mt averaging 0.45 g/t gold, with a Scoping Study expected in 2027 [2] - **15-Mile**: Prefeasibility Study outlines an average production profile of 103 Koz gold over 11 years [2] - **Del Toro**: Acquisition by Sierra Madre announced, with plans to restart operations in mid-2027 [2] - **Gurupi**: $21 million resource expansion budget for 2026; preliminary economic assessment targeted for H2 2026 [1][2] - **Wharf**: Reports of a fire at the Wharf mine crushing facility, with all workers accounted for [1][2] - **Taca Taca**: Key milestones expected in H1 2026, including environmental and social impact assessment approvals [1][2] - **Castle Mountain**: Phase 2 Permitting Record of Decision expected in December 2026 [1] Corporate Updates - Metalla awarded 247,375 restricted share units and 475,700 stock options to directors, officers, and employees [2] - The company retained Sideways Frequency LLC for marketing services at a rate of $150,000 per month for an initial three-month term [3]

Core Viewpoint - OR Royalties Inc. has acquired an additional 1.0% net smelter return royalty on the Namdini Gold Mine in Ghana, demonstrating confidence in the asset and the company's ability to secure valuable royalty transactions [1][2]. Transaction Highlights - The acquisition includes a total consideration of up to $103.5 million for Savannah Mining Limited's remaining 50% interest in the 2.0% NSR royalty [1]. - The payment structure consists of an initial payment of $28.5 million, with an additional $70.0 million contingent on certain milestones, and the remaining $5.0 million payable in two equal installments on the first and second anniversaries of the closing date [4]. - The first payment under the full 2.0% NSR royalty rate is expected in Q1 2026, reflecting the mine's gold production during Q4 2025 [4]. Namdini Gold Mine Overview - Gold production at Namdini commenced in the first half of 2025, with a ramp-up towards peak production of approximately 360,000 ounces per year over the first three years [4]. - The mine is expected to average 287,000 ounces of gold per year over an initial 15-year life of mine [4][6]. - The mine is operated by Shandong Gold Co Ltd. through its subsidiary Cardinal Namdini Mining Limited, which has a strong operational history and a market capitalization of approximately HK$297.3 billion ($38.1 billion) [4][5]. Strategic Importance - Ghana is recognized as a top gold mining jurisdiction, ranking 6th globally and 1st in Africa for gold production in 2024 [2]. - The acquisition reflects OR Royalties' strategy to enhance its portfolio of producing royalties and leverage its network of industry partners [2].

Core Insights - Gold Royalty Corp. reported record revenues for the fourth quarter and the full year of 2025, with total revenue reaching $5.2 million in Q4 2025, a 37% increase from Q4 2024, and $17.7 million for the full year, a 38% increase from 2024 [3][5]. Financial Performance - Total Revenue, Land Agreement Proceeds, and Interest for Q4 2025 amounted to $5.2 million, with revenue of $4.2 million, equating to 1,255 gold equivalent ounces (GEOs) [3][14]. - For the full year 2025, Total Revenue, Land Agreement Proceeds, and Interest reached a record $17.7 million, equating to 5,173 GEOs [3][14]. - The increase in cash flows was attributed to strong operating performances from royalty interests and a higher gold price, despite lower-than-expected production from the Vareš mine [4][5]. Acquisition and Growth Strategy - The company completed the acquisition of a net smelter returns royalty from Dundee Corporation for $45 million, with $30 million paid in cash and the remainder in common shares [2]. - The acquisition is expected to enhance revenue growth in 2026 and beyond, alongside the recently added Pedra Branca royalty [6]. Future Outlook - Gold Royalty plans to release its financial and operating results for Q1 2026 on March 18, 2026, with a conference call scheduled for March 19, 2026 [7].

Core Insights - OR Royalties Inc. has reported positive developments across its portfolio, highlighting the upcoming production from Dalgaranga and advancements in other projects like Cascabel, Marimaca MOD, and Spring Valley [2][4] - The company believes that the current share price does not reflect the underlying value of its assets, prompting active share repurchases [4] - Significant exploration results from TDG Gold's AuWEST Project and Benz Mining's Glenburgh Gold Project indicate strong potential in advanced exploration assets [3] Dalgaranga (Operated by Ramelius Resources Ltd.) - Ramelius announced a Pre-Feasibility Study (PFS) for the Never Never deposit, which includes a processing plant upgrade to 5 million tonnes per annum, enhancing production and reducing costs [5] - The Maiden Probable Ore Reserve at Never Never is 7.0 million tonnes at 7.3 g/t Au, equating to 1.6 million ounces of gold [9] - OR Royalties holds a 1.44% gross revenue royalty on Dalgaranga [7] Cascabel (Operated by SolGold plc) - Jiangxi Copper Company Limited made a revised cash offer for SolGold at 28 pence per share, valuing the company at approximately £842 million ($1.1 billion) [8][10] - OR Royalties owns a 0.6% net smelter return (NSR) royalty on the Cascabel property and a 6% gold stream until 225,000 ounces of gold are delivered [11][12] Marimaca MOD (Operated by Marimaca Copper Corp.) - Marimaca received formal environmental approval (RCA) for its Marimaca Oxide Project, moving closer to construction readiness [15][16] - OR Royalties holds a 1% NSR royalty on Marimaca's MOD covering all known resources [17] Spring Valley (Operated by Solidus Resources, LLC) - Solidus announced a definitive Precious Metals Purchase Agreement with Wheaton Precious Metals, fully funding the Spring Valley project [18][19] - The feasibility study projects over 300,000 ounces of gold production per year for a mine life exceeding 10 years [20] - OR Royalties owns a 2.5% to 3.0% NSR royalty on the core of the Spring Valley deposit [21] Windfall (Operated by Gold Fields Ltd.) - Gold Fields updated the project timeline, with plant commissioning expected in the second half of 2028 and first gold production anticipated in the first half of 2029 [22][23] - OR Royalties holds a 2.0-3.0% NSR royalty on the Windfall project [25] Altar (Operated by Aldebaran Resources Inc.) - Aldebaran released a Preliminary Economic Assessment (PEA) for the Altar project, indicating a mine life of 48 years with significant copper and gold production [26][27] - OR Royalties owns a 1.0% NSR royalty on the majority of the Altar project [29] Shaakichiuwaanaan (Operated by PMET Resources Inc.) - PMET announced a lithium-only feasibility study for the Shaakichiuwaanaan property, confirming its potential as a top spodumene concentrate producer [30][32] - OR Royalties holds a sliding scale NSR royalty of 1.5-3.5% on precious metals and 2.0% on lithium at Shaakichiuwaanaan [35] AuWEST (Operated by TDG Gold Corp.) - TDG reported positive assay results from its exploratory drilling program at the Aurora West target, indicating strong mineralization [36][37] - OR Royalties owns a 1.0% NSR royalty on AuWEST and the broader GSN project [38] Glenburgh (Operated by Benz Mining Corp.) - Benz reported significant discoveries at the Glenburgh Gold Project, with high-grade mineralization confirmed in multiple lenses [39][40] - OR Royalties owns a 1.08% gross revenue royalty on Glenburgh [41]

Core Insights - Star Royalties Ltd. reported a significant decrease in revenue for Q3 2025, with revenue of $40,104 compared to $125,450 in Q3 2024, while net loss improved to $(5,429) from $(1,330,714) year-over-year [1][3] Financial Performance - Revenue for Q3 2025 was $40,104, down from $125,450 in Q3 2024 [1] - Net loss for Q3 2025 was $(5,429), an improvement from $(1,330,714) in the same quarter last year [1] - Basic and diluted loss per share remained at $(0.00) compared to $(0.02) in Q3 2024 [1] - Cash flow used in operating activities was $(220,761), slightly higher than $(213,935) in Q3 2024 [1] - Cash flow from investing activities was $334,984, with no cash flow from financing activities reported [1] Mining Portfolio Updates - The Copperstone Gold Project is a key investment, with production expected to restart in late 2026, and anticipated annual gold production exceeding 50,000 oz [6][12] - Keysbrook Mine's revenue decreased due to an intentional operational slowdown, with royalty income of $40,105 compared to $125,450 in the previous year [13] - Elk Gold's sale process is ongoing, with a resolution expected by early 2026, which may impact the valuation of Star Royalties' mining royalty interest [14][17] Strategic Developments - Minera Alamos is focused on the Copperstone project, with permitting expected to be completed by year-end 2025 and a Phase 1 drilling program planned for early 2026 [3][6] - The acquisition of Calibre USA Holdings Ltd. by Minera Alamos is expected to enhance its asset base, potentially allowing for over 175,000 oz of gold production annually [9][10] - Green Star Royalties has sold all issued carbon offsets, with future demand anticipated from long-term agreements with energy producers [5][19]

Core Insights - Metalla Royalty & Streaming Ltd. reported a record operating and financial quarter for Q3 2025, achieving revenue of $4.0 million, cash flow from operations of $2.6 million, and Adjusted EBITDA of $2.9 million, along with its first positive net income of $0.6 million [2][3][4] Financial Performance - Revenue from royalty interests for Q3 2025 was $4.0 million, compared to $1.622 million in Q3 2024, marking a significant increase [4] - Net income for Q3 2025 was $629 thousand, a turnaround from a loss of $1.169 million in Q3 2024 [4] - Adjusted EBITDA for Q3 2025 was $2.902 million, up from $930 thousand in Q3 2024 [4] - Total attributable Gold Equivalent Ounces (GEOs) for Q3 2025 were 1,155, compared to 648 in Q3 2024 [4] Asset Updates - Metalla acquired an additional 0.15% interest in the Net Smelter Returns (NSR) royalty on the Côté gold mine and Gosselin project for C$3.4 million, increasing its total ownership to 1.50% [3][21] - Rehabilitation activities at La Parrilla mine complex have restarted, with plans for a sulphide circuit expansion to 1,250 tonnes per day [3][26] - Sierra Madre Gold & Silver Ltd. plans a two-stage expansion at La Guitarra, increasing processing capacity from 500 tonnes per day to approximately 750-800 tonnes per day by Q2 2026 [3][17] - Hudbay Minerals announced a $600 million strategic investment from Mitsubishi for a 30% joint venture interest in Copper World [3][38] - Castle Mountain's Phase 2 project has been accepted into the FAST-41 program, which is expected to streamline the permitting process [3][35] Production Metrics - Average realized price per attributable GEO for Q3 2025 was $3,451, compared to $2,481 in Q3 2024 [4] - Average cash cost per attributable GEO for Q3 2025 was $8, down from $9 in Q3 2024 [4] - Operating cash margin per attributable GEO for Q3 2025 was $3,443, compared to $2,472 in Q3 2024 [4] Future Outlook - The company anticipates sustained long-term growth and compounding cash flow as its assets progress through development and into production [2]