JOHANNESBURG (miningweekly.com) – TSX- and NYSE-listed Osisko Gold Royalties has acquired a high-quality precious metals portfolio of assets comprising 74 royalties, streams and precious metal offtakes from Orion Mine Finance Group, in exchange for $675-million and about 31-million shares in Osisko.
Osisko now holds a total of 131 royalties, streams and precious metal offtakes, including its cornerstone 5% net smelter return (NSR) royalty on the long-life Canadian Malartic gold mine – Canada's largest producing gold mine – and a 2% to 3.5% NSR royalty on the world-class Éléonore gold mine.
In addition, the corporation acquired a 9.6% diamond stream on the Renard diamond mine and a 4% gold and silver stream on the Brucejack gold and silver mine, all of which are new high-quality mines in Canada, in addition to a 100% silver stream on the Mantos Blancos copper mine, in Chile.
"We are excited to acquire Orion's portfolio of high-quality assets, which position Osisko as the leading growth royalty company in the precious metals sector," noted Osisko CEO and board chairperson Sean Roosen.
Edited by: Creamer Media Reporter
EMAIL THIS ARTICLE SAVE THIS ARTICLE
ARTICLE ENQUIRY
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
