SaleApr 30, 2026, 07:12 AM
OR Royalties Sells Osisko Metals Position for $34.8M; Portfolio Updates
AI Summary
OR Royalties Inc. announced the strategic sale of its entire non-core equity position in Osisko Metals Incorporated, generating approximately $34.8 million in net proceeds. The company also provided positive updates across its portfolio, including significant advancements at the Island Gold District with an expanded mine plan and increased throughput targets. Other key developments include first ore delivery at Dalgaranga, an extensive drill program at Glenburgh, increased drilling at Bralorne, and a potential acquisition for the Eagle Gold Mine.
Key Highlights
- OR Royalties sold its entire Osisko Metals equity position for $34.8 million in net proceeds.
- Island Gold District expansion targets underground throughput to ramp from 1,400 tpd in Q1 2026 to 2,000 tpd by year-end 2026, and 2,400 tpd in early 2027.
- Island Gold's updated mine plan reflects a 30% larger Proven and Probable Mineral Reserve of 5.1 Moz Au (15.0 Mt grading 10.6 g/t Au).
- First ore from Dalgaranga's Never Never deposit delivered to Mt Magnet processing plant in March 2026, with first royalty payment expected in early May 2026.
- Glenburgh has a fully-funded 250,000-meter drill program underway, with new high-grade discoveries announced.
- Bralorne's 2026 diamond drill program increased from 30,000m to 105,000m following a C$52.1 million financing.
- PricewaterhouseCoopers LLP entered an exclusivity agreement with Boroo Pte Ltd. for a potential acquisition and restart of the Eagle Gold Mine.