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Osisko Gold Royalties(OR) - 2025 Q2 - Earnings Call Transcript
2025-08-06 15:02
Financial Data and Key Metrics Changes - Ore Royalty earned 19,700 GEOs in Q2 2025, a modest increase from Q1, on track to meet the full year guidance of 80,000 to 88,000 GEOs [3] - Quarterly revenues reached $60.4 million, an increase compared to the same period last year, driven by higher commodity prices [6] - Net earnings improved to $0.17 per basic common share, a significant year-over-year improvement from a loss in the previous year [6] - Cash flow per share increased to $0.27 from $0.21 in Q2 of last year, and adjusted earnings rose to $0.18 from $0.13 [6][4] - The company ended Q2 with $49.6 million in cash and achieved a net cash position for the first time in several years [4] Business Line Data and Key Metrics Changes - Over 93% of GEOs earned came from precious metals, with a modest increase in copper contribution primarily from the CSA mine [6][7] - Canadian Malartic showed strong performance with expectations for continued improvement in the second half of the year [7][34] - Mantos Blancos production was flat year-over-year, with expectations for silver grades to improve in the second half [7][34] Market Data and Key Metrics Changes - The gold-silver ratio tightened to approximately 89:1 from highs of 105:1 earlier in the year, indicating potential leverage for investors in silver [10] - Ore Royalty's revenues were predominantly generated from Tier one mining jurisdictions, including Canada, the U.S., and Australia [11] Company Strategy and Development Direction - The company aims to maintain a disciplined capital allocation strategy focused on high-quality accretive streams and royalties [30] - Ore Royalty is committed to returning capital to shareholders, having declared a quarterly dividend of $0.55 per share [5] - The corporate development team is focused on producing assets and high-quality development assets that can contribute to GEOs within the next five years [37][38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for a stronger second half of 2025, with expectations for increased GEOs from Canadian Malartic and Mantos Blancos [34] - The company is actively pursuing new transaction opportunities while maintaining a strong balance sheet with significant liquidity [30][16] Other Important Information - Ore Royalty's total debt was just under $36 million, with a net cash position of $14 million, indicating a strong financial position [16] - The company is not looking to divest its equity position in Osisko Development, currently at approximately 14.3% [52] Q&A Session Summary Question: Can you provide more color on the second half of this year and where the incremental GEO sales are coming from? - Management expects Canadian Malartic and Mantos Blancos to contribute significantly, with a 55% production split in the second half [33] Question: Can you talk about the preference for producing versus development stage royalties? - The preference is for accretive deals on producing assets, but the company is also looking at high-quality development assets that can contribute within five years [36][38] Question: What criteria do you consider for the new five-year guidance? - Key criteria include confidence in asset contributions, financing visibility, and social license [42][45] Question: How do you see Ore Royalty positioned for larger transactions? - The company is open to billion-dollar transactions if they meet economic returns, but is also working on smaller transactions [47] Question: Are you happy with the 14.3% position in Osisko Development? - Management is pleased with the 14.3% position and does not plan to divest in the near term [52] Question: What is the typical transaction size range for potential deals? - Transaction sizes range from approximately $35 million to close to $1 billion [58]
Osisko Gold Royalties(OR) - 2025 Q2 - Earnings Call Presentation
2025-08-06 14:00
Q2 2025 Financial Highlights - Earned 19,700 gold equivalent ounces (GEOs) compared to 20,068 GEOs in Q2 2024[12] - Revenues reached $60.4 million with a quarterly cash margin of 95.8%, compared to $47.4 million and 96.6% in Q2 2024[12] - Declared a Q3 2025 quarterly dividend of $0.055 per common share[12] - Held a cash balance of $49.6 million and a net cash position of approximately $14.0 million as of June 30, 2025[12] - Acquired a 100% silver stream on Orla Mining's South Railroad project for a total consideration of $13 million[14] Production and Guidance - Precious metals focus with 94.3% of H1 2025 GEOs from precious metals[20] - 68% of Q2 2025 GEOs were from gold, 24.2% from silver, and 7.4% from copper & others[18] - Still tracking well against 2025 GEO delivery guidance of 80,000-88,000 GEOs, with a slightly stronger H2 expected compared to H1 2025[14] Key Assets and Developments - Canadian Malartic Complex production guidance is for 590,000 ounces of gold in 2025, 560,000 ounces in 2026, and 650,000 ounces in 2027[29] - Island Gold's updated Mineral Reserve in June 2025 was 11.8 million tonnes grading 10.85 g/t Au (4.1 million ounces), up 80% from the end of 2024[39] - Dalgaranga: An early buyback notice received in late July 2025, reducing the GRR rate on Dalgaranga from 1.8% to 1.44%, and reducing the GRR rate on Benz Mining Corp's Glenburgh and Mt Egerton projects from 1.35% to 1.08%[43] Future Growth and Financial Flexibility - 2029 outlook represents approximately 40% GEO growth over 2025 estimates, with no contingent capital required[48] - Available credit of $814 million, including a $200 million accordion[58]
Leocor Mining Drills 28.5 g/t Au over 0.4m at Dorset Gold Project, Baie Verte, Newfoundland
Thenewswire· 2025-08-06 12:00
Figure 1. Samples 229763 and 229764 in hole 25-DR-005 which ran 0.12 g/t Au and 1.13 g/t Au respectively for a length weighted composite of 0.67g/t over 1.1m from 42.5m downhole Figure 2. Sample 229771 in hole 25-DR-005 which ran 28.5g/t Au over 0.4m drilled length. Vancouver, British Columbia – TheNewswire - August 6, 2025 - Leocor Mining Inc. (the "Company" or "Leocor") (CSE: LECR, OTCQB: LECRF; Frankfurt: LGO0) (formerly Leocor Gold Inc.), a junior resource company focussed on the exploration and develop ...
Eloro Resources Continues to Expand Higher-Grade Tin and Silver Mineralization in Step-Out Definition Drilling at its Iska Iska Project, Potosí Department, Bolivia
Globenewswire· 2025-08-06 11:00
Core Insights - Eloro Resources Ltd. has announced significant assay results from the first five drill holes of its definition drilling program at the Santa Barbara zone of the Iska Iska silver-tin polymetallic project in Bolivia, indicating an expansion of higher-grade tin and silver mineralization [3][4][6]. Drilling Program Details - A total of 2,871.4 meters of diamond drilling has been completed in the first five holes, with assays pending for three additional holes totaling 1,413.90 meters [3]. - The drilling program aims to define the mineral resource in the potential starter pit area, which is open laterally and downdip, suggesting further potential for resource expansion [4][6]. Significant Assay Results - Hole DSB-78 intersected a higher-grade tin zone grading 0.40% Sn over 79.50 meters, including a section of 0.89% Sn over 16.50 meters [5][8]. - Hole DSB-79 revealed higher-grade silver grading 52.73 g/t Ag over 43.50 meters, with notable intersections of tin as well [5][9]. - Hole DSB-83, located 135 meters northeast of DSB-72, intersected multiple significant silver and tin intervals, including 39.43 g/t Ag over 31.50 meters and 0.39% Sn over 49.50 meters [13][16]. Mineralization Characteristics - The mineralization is primarily hosted in intrusion breccia and is characterized by visible coarse and medium-grained cassiterite, which is likely amenable to multi-gravity separation [7][10]. - The current drilling has upgraded and expanded the mineralization, highlighting the potential for additional higher-grade resources in the defined area [6][10]. Project Background - The Iska Iska project is a major silver-tin polymetallic porphyry-epithermal complex located in the Potosi Department of Bolivia, with significant historical mineralization similar to other major deposits in the region [24][25]. - Eloro has an option to earn a 100% interest in the Iska Iska property, which is road-accessible and royalty-free [24][40].
Arizona Gold & Silver Intersects 14.5 Grams Per Tonne Gold Within 22.26 Metres (73 Feet) of 4.24 GPT Gold At Philadelphia Project, Arizona
Thenewswire· 2025-08-06 11:00
Vancouver, British Columbia, August 6, 2025 – TheNewswire - Arizona Gold & Silver Inc.(TSXV: AZS) (OTCQB: AZASF) is very pleased to announce further positive results from the on-going core drilling program at the Philadelphia Project. Highlights include 14.5 g/t over 1.52 meters within 4.24 g/t over 22.26 meters. Results from core hole PC25-155 demonstrate continuity of impressive vein thickness and an increase in grade as drilling progresses down dip on the vein. | Core Hole PC25-155 | | --- | Mike Stark r ...
Goldstorm Metals to Conduct Geophysical Programs on the Crown Property, Located in the Golden Triangle of British Columbia
Newsfile· 2025-08-06 09:00
Core Viewpoint - Goldstorm Metals Corp. is initiating geophysical programs on its Crown Property in British Columbia's Golden Triangle to enhance geological understanding and prioritize drill targets for future exploration [1][3]. Company Overview - Goldstorm Metals Corp. is a precious and base metals exploration company with a significant land position in the Golden Triangle of British Columbia, covering approximately 16,469 hectares across six concessions [10][11]. - The Crown Project is strategically located directly south of Seabridge Gold's KSM gold-copper deposits and Newmont's Brucejack mine [10][11]. Geophysical Programs - The company has contracted Simcoe Geoscience Limited to conduct ground-based Magnetotelluric (MT) and Induced Polarization (IP) surveys targeting the Copernicus Zone and other geochemical anomalies along the Orion Spine [1][3]. - The geophysical surveys will focus on a 1.4-kilometer trend of the Copernicus Zone, aiming to evaluate the underlying geology and identify potential large intrusive-related targets at depth [3][5]. - The IP study will cover 3.5 kilometers of the gold-in-rock geochemical trend along the Orion Spine, with expectations to outline conductivity anomalies that may indicate larger mineralized targets [3][5]. Financial Information - The company raised gross proceeds of $2,088,903.64 through the issuance of NFT units and flow-through units, with specific details on the number of units sold and their respective prices [7]. - Cash commissions of $42,596.38 were paid, and 608,519 non-transferable finders' warrants were issued to certain finders [7].
Fortitude Gold (FTCO) Q2 Sales Down 49%
The Motley Fool· 2025-08-06 05:27
Fortitude Gold (FTCO 0.73%) operates in the precious metals mining industry and focuses primarily on gold production. Its main asset is the Isabella Pearl mine in Nevada, where it processes ore containing gold and a small amount of silver, producing and selling dore bars. The company's revenue and profitability depend directly on output from this single mine and the global prices for gold and silver. Fortitude Gold (FTCO 0.73%), released its second quarter 2025 earnings on August 5, 2025. The company report ...
Lincoln Gold Proposed Debt Settlement
Thenewswire· 2025-08-05 21:30
Core Viewpoint - Lincoln Gold Mining Inc. intends to settle up to CDN $903,379.22 in debt through the issuance of up to 5,493,205 units at a price of $0.165 per unit, subject to regulatory approval [1][4]. Debt Settlement Details - Each unit will consist of one common share and one common share purchase warrant, with the warrant exercisable at $0.35 per share for 12 months [1]. - The debt settlement is subject to a four-month hold period from the issue date [2]. Related Party Transaction - Mr. Dong Shim, a director of the company, is considered a "related party" and the issuance of units to his firm is classified as a "related party transaction" but is exempt from formal valuation and minority shareholder requirements [3]. - The board of directors approved the debt settlement unanimously, with Mr. Shim abstaining from the vote due to his interest [4]. Company Overview - Lincoln Gold Mining Inc. is a Canadian precious metals exploration and development company based in Vancouver, BC, focusing on becoming a mid-tier gold producer [5]. - The company holds interests in the Bell Mountain gold-silver property and the Pine Grove gold property, located within the Walker Lane mineral belt [5].
OR Royalties Declares Third Quarter 2025 Dividend
GlobeNewswire News Room· 2025-08-05 20:52
Core Points - OR Royalties Inc. has announced a third quarter 2025 dividend of US$0.055 per common share, payable on October 15, 2025, to shareholders of record as of September 30, 2025 [1] - The dividend is classified as an "eligible dividend" under the Income Tax Act (Canada) [1] - Shareholders in Canada will receive the Canadian dollar equivalent based on the Bank of Canada's daily rate on September 30, 2025 [2] Dividend Reinvestment Plan - The company has implemented a dividend reinvestment plan (DRIP) for shareholders in Canada and the United States, allowing them to reinvest dividends into additional shares [3] - Non-registered beneficial shareholders may need to re-register due to a corporate name change and should consult their financial institutions for details [4] - Shareholders interested in participating in the DRIP should contact their financial advisors or the company's transfer agent for enrollment information [5] Company Overview - OR Royalties is a precious metals royalty and streaming company focused on Tier-1 mining jurisdictions, including Canada, the United States, and Australia [7] - The company has grown from a single producing asset in June 2014 to a portfolio of over 195 royalties, streams, and similar interests [7] - The cornerstone asset is a 3-5% net smelter return royalty on Agnico Eagle Mines Ltd.'s Canadian Malartic Complex, one of the largest gold mines globally [7]
OR Royalties Reports Q2 2025 Results
Globenewswire· 2025-08-05 20:30
Core Viewpoint - OR Royalties Inc. reported strong financial results for Q2 2025, with significant increases in revenues, cash flows, and net earnings compared to the same period in 2024, indicating a positive trajectory for the company and its operations in the precious metals sector [4][5][27]. Financial Performance - Revenues from royalties and streams reached $60.4 million, up from $47.4 million in Q2 2024, reflecting a year-over-year increase of approximately 27.5% [5][27]. - Cash flows generated by operating activities were $51.4 million, compared to $38.2 million in Q2 2024, marking a 34.5% increase [5][29]. - Net earnings for the quarter were $32.4 million, or $0.17 per basic share, a significant recovery from a net loss of $15.4 million, or $0.08 per basic share, in Q2 2024 [5][27]. Operational Highlights - The company is on track to meet its 2025 annual guidance of 80,000-88,000 gold equivalent ounces (GEOs), with a stronger second half anticipated [4]. - The first royalty payments were received from Cardinal Namdini Mining's Namdini gold mine and Talisker Resources' Bralorne gold mine, contributing to the overall GEOs earned [5]. - The company completed acquisitions, including a 100% silver stream on Orla Mining Ltd.'s South Railroad project for $13 million and a basket of royalties from Sable Resources for C$3.8 million ($2.8 million) [5]. Balance Sheet and Liquidity - As of June 30, 2025, OR Royalties had a cash balance of $49.6 million and outstanding debt of $35.7 million, indicating a strong liquidity position [5][25]. - The revolving credit facility was increased to $650 million, with an uncommitted accordion of $200 million, extending the maturity date to May 30, 2029 [5]. Dividend Declaration - The company declared a quarterly dividend of $0.055 per common share, representing a 20% increase over the previous quarterly dividend, payable on July 15, 2025 [5].