Osisko Gold Royalties Offers Insightful Asset Updates
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Osisko Gold Royalties Updates Assets
Osisko Gold Royalties Ltd (the "Company" or "Osisko") (OR: TSX & NYSE) is pleased to share important updates regarding its asset portfolio.
Overview of Recent Developments
Jason Attew, President & CEO of Osisko, noted that the last few months have showcased positive advancements within the Company's asset base, generating incremental value. Multiple catalysts are anticipated before the end of the year, propelling further growth. Osisko’s short-to-medium-term expansion hinges on several advanced projects, including substantial underground developments at Odyssey and the Island Gold District, alongside major open pit explorations at Tocantinzinho and Namdini.
Highlights of Select Assets
Upper Beaver Project
On July 31, Agnico Eagle Mines Ltd provided insight into its Upper Beaver project, located near Kirkland Lake, Ontario. The comprehensive internal evaluation indicated that the Upper Beaver could produce an average of around 210,000 ounces of gold and 3,600 tonnes of copper annually, with initial production envisaged for 2030. The complete mine life expectancy is approximately 13 years, expected to yield around 2.8 million ounces of payable gold and 46,300 tonnes of copper.
Agnico Eagle has earmarked a US$200 million investment over three years to mitigate risks and further develop the project. Osisko holds a 2% net smelter return (NSR) royalty on Upper Beaver, reinforcing its positioned interest in the regional properties of Agnico.
Shaakichiuwaanaan Project
Patriot Battery Metals Inc. reported a Preliminary Economic Assessment of Shaakichiuwaanaan, a significant hard-rock lithium venture in Québec. This assessment reveals the potential to become one of the largest spodumene producers globally, commencing a staged development aiming for 400 kilotonnes per annum (ktpa) in the first stage and expanding to approximately 800 ktpa thereafter.
Osisko enjoys a sliding scale NSR royalty of 1.5-3.5% on precious metals and 2.0% on lithium, with the majority of mineral resources falling within its royalty area.
Windfall Project
Osisko Mining Inc. is in the limelight following a definitive agreement with Gold Fields Limited. This arrangement aims to consolidate Gold Fields’ ownership of the Windfall project. Gold Fields’ CEO expressed excitement over this advanced-stage asset, highlighting its potential to play a significant role in their portfolio.
Osisko retains a 2-3% NSR royalty on this promising project, reflecting its sustained interests in the mining exploration landscape.
CSA Mine
Metals Acquisition Limited wrote to announce record copper production at the CSA Mine during the second quarter, effectively boosting quarterly outcomes despite facing maintenance challenges. The mined grade reached an average of 4.2% copper, demonstrating significant operational improvements.
Osisko benefits from a 100% Silver Stream and a 3.0-4.875% Copper Stream from the CSA Mine, securing stable revenue streams.
Tocantinzinho Mine
G Mining Ventures Corp. achieved commercial production at its Tocantinzinho Gold Mine promptly and within budget. In August, production hit 76% of nameplate throughput, reflecting the plant's ramp-up capabilities, aiming for further optimization into 2025.
Osisko congratulates G Mining for this timely milestone and holds a 0.75% NSR royalty over the mine, showing its continued engagement in gold production ventures.
Closing Remarks
Osisko is positioned strategically in the mining sector, with stakes in diverse, high-potential projects that promise to deliver solid returns for stakeholders. The Company's extensive portfolio, highlighted by a 3-5% NSR royalty on the Canadian Malartic Complex, enhances its standing in the industry.
Frequently Asked Questions
What is Osisko Gold Royalties Ltd?
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company involved in the acquisition of royalties, streams, and offtakes in the mining sector, particularly focused on the Americas.
What projects are highlighted in the recent update?
The recent updates include advancements in the Upper Beaver, Shaakichiuwaanaan, Windfall, CSA Mine, and Tocantinzinho projects.
What royalty does Osisko hold on these projects?
Osisko holds a variety of royalties, including NSR royalties ranging from 1.5% to 5% across different projects, ensuring diversified revenue streams.
How does Osisko benefit from these projects?
Through its NSR royalties, Osisko stands to gain from the production output of these projects without the operational costs associated with mining directly.
Who are the key contacts at Osisko?
Key contacts include Grant Moenting, Vice President of Capital Markets, and Heather Taylor, Vice President of Sustainability and Communications.
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