Osisko Gold Reports Strong Q2 Earnings with Positive Financial Gains and New Revenue Streams

Osisko Gold reported Q2 earnings of 19,700 GEOs, in line with full-year guidance, and record cash flows from operating activities. Revenues increased to $60.4 million, with net earnings of $0.17 per share, up from a loss in the previous year. The company achieved a net cash position for the first time in several years, with $49.6 million in cash, and received its first royalty payments from new assets.

MONTREAL, Aug. 05, 2025 (GLOBE NEWSWIRE) — OR Royalties Inc. (“OR Royalties” or the “Company”) (OR: TSX & NYSE) today announced its consolidated financial results for the second quarter of 2025. The company reported a significant increase in cash flows from operating activities, reaching $51.4 million, a 34% year-over-year (YoY) increase. This robust performance was driven by a number of strategic initiatives and operational improvements.

Revenues from royalties and streams totaled $60.4 million, up from $47.4 million in the same period last year. The company earned 19,700 gold equivalent ounces (GEOs), in line with its full-year guidance of 80,000-88,000 GEOs. The net earnings for the quarter stood at $32.4 million, translating to $0.17 per basic share, a significant improvement over the net loss of $15.4 million and $0.08 per basic share reported in the previous year.

Key highlights of the quarter include the receipt of the first royalty payments from Cardinal Namdini Mining Ltd. and Talisker Resources Ltd., adding to the company’s diverse portfolio of producing assets. OR Royalties also completed a corporate name change to “OR Royalties Inc.” and “Redevances OR Inc.” (in French) following shareholder approval.

The company’s balance sheet remained strong, with a cash balance of $49.6 million and debt outstanding of $35.7 million as of June 30, 2025. The increase in the revolving credit facility to $650.0 million, plus an uncommitted accordion of $200.0 million, and the extension of the maturity date to May 30, 2029, further bolstered its financial position.

Management Commentary
Jason Attew, President & CEO of OR Royalties, commented, “OR Royalties is on track to achieve its 2025 annual guidance of 80,000-88,000 GEOs, as we expect a slightly stronger second half in terms of GEOs earned. We are pleased with the continued outperformance at Canadian Malartic, which has largely offset underperformance at Mantos Blancos. We also received our first royalty payments from Cardinal Namdini Mining and Talisker Resources, bringing the total number of producing assets in our portfolio to 22.”

The company expects several key portfolio catalysts before year-end, including advancements from Alamos Gold’s Island Gold District Expansion Study, Gold Fields’ updated Feasibility Study for Windfall, and updates from Osisko Development Corp. as it commences mine construction activities at Cariboo.

OR Royalties also declared a quarterly dividend of $0.055 per common share, an increase of 20% over the previous quarterly dividend.

References:
[1] https://orroyalties.com/or-royalties-reports-q2-2025-results/