Osisko Gold Royalties Ltd (the “
Corporation” or
“
Osisko”) (OR: TSX & NYSE) is pleased to
provide an update on its third quarter 2022 deliveries, revenues,
cash margin and recent asset advancements for its royalty and
stream segment.
PRELIMINARY Q3 2022 RESULTS
Osisko earned approximately 23,850 attributable
gold equivalent ounces1 (“GEOs”) in the third quarter of 2022,
record deliveries for the Corporation since inception in 2014.
Osisko recorded preliminary revenues from royalties and streams of
C$53.7 million during the third quarter and preliminary cost of
sales (excluding depletion) of C$4.4 million, resulting in a
record quarterly cash margin2 of approximately C$49.3 million (or
92%).
During the third quarter, Osisko purchased for
cancellation a total of 1.3 million common shares for C$16.5
million (average acquisition price per share of C$12.77) under its
NCIB program.
Sandeep Singh, President and CEO of Osisko,
commented: “We are delighted to have experienced another quarter of
record deliveries, revenues and cash margin in Q3. These records
were achieved despite the Eagle mine still working towards
steady-state production, the gold price averaging US$142 per ounce
lower quarter over quarter, and a meaningfully higher gold-silver
price ratio used to convert silver deliveries into GEOs. The higher
gold-silver price ratio, which has since subsided somewhat,
decreased GEOs earned by approximately 850 ounces in the third
quarter versus expectations. We believe our assets have the ability
to end the year on a continued upswing and meet the low end of our
guidance, with further increases from core assets expected in
2023.
“Further, we are pleased to welcome Mr. Rob
Krcmarov to our Board of Directors. This is in keeping with our
board renewal process, with six new additions to the board since
the start of 2020. Rob adds unparalleled expertise in geology and
mining transactions with relationships and asset knowledge around
the globe. He will be an invaluable asset to the Corporation.”
Osisko will provide full production and
financial details with the release of its third quarter 2022
results after market close on Wednesday, November 9th, 2022
followed by a conference call on Thursday, November 10th at 10am
ET. More details are provided at the end of this release.
BOARD OF DIRECTORS
APPOINTMENT
Osisko is pleased to announce the appointment of
Mr. Rob Krcmarov to its Board of Directors. Mr. Krcmarov is a
renowned international mining executive with over 32 years of
experience in the natural resources sector. Mr. Krcmarov
recently retired as Executive Vice President of Exploration and
Growth for Barrick Gold Corporation (“Barrick”). During his tenure
at Barrick, he progressed through several senior positions from
1988 to 2021, and built an exceptional skillset in global
exploration spanning across five continents and more than 20
countries.
Mr. Krcmarov holds a Bachelor of Science,
University of Adelaide (1986), an Honours Degree, University of
Adelaide (1987) and a Master of Economic Geology, University of
Tasmania (1995). He was co-recipient of the PDAC’s Thayer Lindsley
award for International Mineral Discovery of the year in 2014.
PORTFOLIO UPDATE
Canadian Malartic Update
On July 27th, Agnico Eagle Mines Limited
(“Agnico Eagle”) reported that underground development and surface
construction activities were progressing on schedule, with initial
pre-commercial production at Odyssey expected near the end of the
first quarter of 2023. On August 11th, Agnico Eagle reported that
during the first half of 2022, 685 meters of underground
development and 2,622 meters of lateral development had been
completed. The ramp has now reached a depth of 380 meters below
surface.
The Canadian Malartic Partnership has budgeted
$23.8 million for 136,800 meters of exploration and conversion
drilling in 2022. Twenty drills are active, with four underground
drills completing infill drilling on the Odyssey South deposit,
twelve surface drills focused on infilling and expanding the East
Gouldie deposit and four drills active in regional exploration.
Recent drilling has extended the East Gouldie deposit to the west
by approximately 225 meters and to the east at depth by
approximately 500 meters to more than 1,700 meters from the current
mineral resources outline.
A recent exploration highlight is hole
MEX22-231, which returned 1.8 g/t gold over 62.9 meters at 1,580
meters depth in the western extension of the East Gouldie deposit
approximately 225 meters west of the current mineral resources
outline. This intercept is approximately halfway between the East
Gouldie deposit and the Norrie Zone to the west and shows the
potential for East Gouldie to connect with other mineral
inventories in the Norrie and South Sladen mineralized zones that
are not yet classified as mineral resources (Figure 1).
Figure 1: Canadian Malartic Mine – Composite
Longitudinal
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/b9824043-57e5-4c69-b47d-2de6c4ae9bd2
During a recent mining conference in Colorado,
Yamana Gold Inc.’s Executive Chairman expressed the belief that the
Odyssey Mine has the strategic potential to produce 1 million
ounces of gold per year with a mine life that is expected to
continue into the 2040’s and beyond, establishing it as one of the
top precious metals mines globally.
Mantos Blancos Update (100% Silver
Stream)
In August, Capstone Copper Corp. (“Capstone”)
announced that it had committed to the Copper Mark at its Mantos
Blancos mine in Chile. The Copper Mark is an assurance framework to
promote responsible production practices and demonstrate the
industry’s commitment to the United Nations Sustainable Development
Goals.
The Mantos Blancos Concentrator Debottlenecking
Project is ramping up to design capacity and expected to achieve
targeted throughput rates and recoveries in Q3 2022. A feasibility
study analyzing the potential to expand throughput from 7.3M tpa to
10.0M tpa is expected to be completed in Q4 2022.
Victoria Gold Updates (5% NSR
Royalty)
On October 4th, Victoria Gold Corp. (“Victoria”)
reported lower than expected Q3 production of 50,028 gold ounces as
Victoria continues to work towards steady state throughput levels.
On September 29th, the 1.5 kilometers overland conveyor that
delivers ore from the crushing plant to the heap leach facility
experienced a failure which requires replacement of the belt.
Victoria anticipates that crushing, conveying and stacking
operations will be down between 2 to 3 weeks. If not for the
conveyor belt failure, the mine was on track to meet the lower end
of its guidance.
On September 7th, Victoria reported drill
results expanding the Eagle deposit to the west of the existing
pit. Highlights included 72.3 meters of 1.14 g/t gold and
240.3 meters of 0.63 g/t gold. The meaningful intervals of
continuous Eagle-style gold mineralization along strike of the
Eagle deposit have added over 500 meters of mineralized strike
length from the Eagle pit boundary. This year’s drill results are
expected to be included in an updated Eagle Gold Mineral Resource
in Q1 2023.
On September 15th, Victoria reported a maiden
resource on the Raven deposit located 15 kilometers from the Eagle
Gold Mine. The Inferred resource includes 20 million tonnes of 1.67
g/t gold for 1.07 million ounces defined within an open pit
scenario (Figure 2). Victoria initiated its 2022 Dublin Gulch
exploration program in late May and currently has four drills on
site with over 20,000 meters of drilling in 76 holes completed.
This campaign is heavily focused on Raven where the footprint of
mineralized intercepts has been extended approximately 325 meters
east of the extents defined by the 2021 drilling.
Figure 2: Idealized Long-Section of Raven Pit
and MRE
Boundshttps://www.globenewswire.com/NewsRoom/AttachmentNg/4edda7ce-bad1-41a4-85b8-b585c57c3f75
Lamaque (1% NSR Royalty)
On October 3rd, Eldorado Gold Corporation
(“Eldorado”) released an exploration update, including results at
Lamaque. Resource expansion drilling at Ormaque has totaled over 16
kilometers this year. Drilling has identified both extensions to
known mineralized zones and new zones outside the current
resources. Notable results include 2.0 meters at 30.6 g/t gold,
corresponding to a 50 meter step-out from the current resource,
1.75 meters at 16.8 g/t gold, a 270 meter step out to the west
of the current resources and 4.0 meters at 13.2 g/t gold,
representing a new mineralized lens approximately 180 meters below
the current resource.
The Ormaque exploration drift project was
completed on schedule in early July, providing underground
platforms for further drilling of the deposit. Resource conversion
drilling from the drift commenced in June and is expected to
include approximately 28 kilometers of drilling to be completed
during the remainder of 2022 and 2023, targeting the upper
two-thirds of the Ormaque deposit. Partial results will be
incorporated in the company’s 2023 Mineral Reserve and Mineral
Resource update.
CSA Transaction Update
On September 6th, Metals Acquisition Corp.
(“MAC”) announced that it had received approval from the Australian
Foreign Investment Review Board (“FIRB”) of its proposed
acquisition of the CSA Copper Mine in New South Wales, Australia.
MAC is in the process of completing the necessary regulatory
reporting requirements and associated financing arrangements to
conclude the acquisition. Osisko Bermuda Limited (“OBL”), a wholly
owned subsidiary of the Corporation, has entered into an agreement
with MAC with respect to a silver stream to facilitate MAC’s
acquisition of the CSA mine. Closing of the silver stream is
subject to, among other things, MAC securing sufficient financing
to close the acquisition.
Osisko Development Corp.
Updates
Osisko Development Corp. (“ODV”) started an
Environmental Assessment Process in the spring of 2019 for the
Cariboo Gold Project (“Cariboo”). Cariboo has completed several
milestones with regards to permitting and receipt of the EA
Certificate is anticipated in the first quarter of 2023. A
feasibility study for the project is due for completion by the end
of 2022.
Test mining continues at the Trixie mine in
Utah, with 703 samples collected this year within the T2 and T4
structures across a combined strike length of 200 meters. Some of
the high grade highlights include 2,724 g/t Au and 215 g/t Ag over
1.68 meters including 14,883 g/t Au and 1,153 g/t Ag over 0.30
meter. Exploration in 2022 will target potential on T2, T4
structures and stockwork zones. Phase 2 exploration will continue
drilling and drifting east of the Trixie mine along T2 structure
over a 1-kilometer strike length and extending down to 300 meters
of depth.
ODV is targeting an initial resource on Trixie
by the end of 2022. The surface decline is expected to be completed
by Q2 2023. All permitting is in place and surface access roads and
portal face excavation has been completed. The decline will allow
mining of T4 material at higher tonnages and continued development
of the lower levels of the Trixie mine.
While ODV expects final permits for full scale
operation at San Antonio to be granted in the near-term,
small-scale gold production from leaching the surface stockpile
continues at the project. On June 30, 2022, ODV announced an
initial resource estimate at San Antonio comprising 14.9 million
tonnes grading 1.2 g/t gold for 576,000 ounces of gold in the
Indicated resource category plus 16.6 million tonnes grading 1.0
g/t gold for 544,000 ounces of gold in the Inferred resource
category. San Antonio has the potential to host an open pit heap
leach gold project with low strip; ODV drilled 27,000 meters at the
project in 2021 and has identified mineralization over a 10
kilometers strike.
Windfall Resource Update (2-3% NSR
Royalty)
On August 30th, Osisko Mining Inc. reported an
updated mineral resource estimate. Measured and Indicated resources
contained 11.1 million tonnes of 11.4 g/t gold for 4.2 million
ounces and Inferred resources of 12.3 million tonnes of
8.4 g/t gold for 3.3 million ounces. Measured and Indicated
ounces increased by 26% since the previous estimate and the Lynx
deposit now contains 65% of the mineral resources. The third bulk
sample has been extracted and transported for testing and results
are expected in October. A feasibility study on the Windfall
project is expected by year end.
AK Deposit (2% NSR Royalty)
On July 27th, Agnico Eagle reported that an
assessment is underway to evaluate the AK deposit as a potential
ore source for the Macassa mine. Subject to the study outcome, AK
ore could complement the mill feed at Macassa as early as 2024.
The underground ramp at Macassa has been
extended by 615 meters year-to-date (of a planned 984 meters
exploration drift). Two drills have been active underground with
3,068 meters completed in 24 holes. This drilling was focused on
infill drilling of the higher-grade portions of the deposit.
Significant intersections returned to date include 14.1 g/t gold
over 6.5 meters and 23.9 g/t gold over 2 meters. A surface drill
program is also underway at AK, and two drill rigs completed 10,136
meters in the second quarter of 2022. Results to date have
confirmed grade thicknesses in the core of the zone. Drill
highlights include 9.0 g/t gold over 9.2 meters and 8.7 g/t gold
over 7.6 meters. The surface drilling program is expected to total
approximately 17,000 meters and was completed in September 2022.
Agnico Eagle published sections illustrating the location and
potential of the AK Zone (Figure 3 and Figure 4).
Figure 3: Macassa Mine and AK Deposit Composite
Longitudinal
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/3134636e-9b8b-4b8e-9af7-ee429bd0c37d
Figure 4: AK Deposit Longitudinal
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/aa2c8262-8d5c-43a9-a29f-1787acbe7e76
Upper Beaver (2% NSR
Royalty)
On August 11th, Agnico Eagle reported that the
conversion drilling program at Upper Beaver achieved multiple
objectives that will benefit the technical evaluation and mineral
reserve and resource update expected in 2023. Among them, the
recent drilling filled in gaps in the eastern portion of the
Footwall Zone mineralized corridor, located between 800 and 1,000
meters below surface. Highlight intercepts include 16.7 g/t gold
over 7 meters and 12.4 g/t gold over 9 meters. An increase in
mineral resources is expected from this newly drilled gap area
where no information was previously available. In addition, all
drill holes targeting the gap areas of the Footwall Zone provided
the opportunity to add drilling intercepts in the main Porphyry
Zone highlighted by 5.0 g/t gold over 14.1 meters.With the resource
conversion drilling completed, the focus of drilling at Upper
Beaver has shifted outside of the mineral resources footprint to
identify areas of potential future growth with two areas already
delivering promising results. Approximately 500 meters east of the
main Upper Beaver deposit, veining and alteration typical of the
mineralization observed at Upper Beaver was intersected and assays
returned 3.6 g/t gold and 1.1% copper over 1.2 meters. Follow-up
drilling returned 11.3 g/t gold and 0.1% copper over 0.7 meter, and
further drilling is underway to assess this new discovery.
New mineralization was also intersected 800
meters north-west of the main Upper Beaver deposit, including
11.5 g/t gold over 5.5 meters and 51.5 g/t gold over 5.2
meters. This mineralization is interpreted as the possible faulted
and offset extension of the known North Basalt zone. Exploration
drilling is ongoing to define the geometry of this new
mineralization (Figure 5).
Figure 5: Upper Beaver Composite Longitudinal
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/34148744-0144-4936-b9bf-2a28faa4cc42
Casino (2.75% NSR Royalty)
Western Copper and Gold Corporation (“WRN”) has
been active on multiple fronts on the Casino project. A portion of
the existing access road is being upgraded with funding of C$130
million from the Federal and Yukon governments. In partnership with
Rio Tinto, WRN has completed metallurgical and geotechnical
drilling, resource confirmation drilling, soil sampling east and
south of the main deposit and 1,600 meters of exploration drilling
on new targets. WRN continues to engage with First Nations and
community stakeholders to advance Casino towards the submission of
an Environmental and Socio-Economic statement in 2023.
Wharekirauponga (WKP) (2% NSR
Royalty)
OceanaGold Corporation (“Oceana”) is investing
US$10 million in exploration drilling on its highly prospective WKP
project and believes the project has the potential to be a Tier 1
asset. WKP currently hosts an Indicated resource of 640koz gold at
13.5 g/t and Inferred resources of 700koz gold at 9.5 g/t. Oceana
is aiming to increase the Indicated resource to 1 million ounces of
gold to support a prefeasibility study in 2023. Oceana envisions a
6 kilometers decline to the center of the deposit, enabling
mineralized material to be transported to their existing Waihi
processing plant 10 kilometers away.
Hermosa Budget Expanded (1% NSR
Royalty)
In its 2022 Annual Report, South32 Limited
(“South32”) highlighted that growth expenditure is expected to
increase by US$193 million to US$290 million at the Hermosa project
in Arizona. The investment in infrastructure will support critical
path dewatering and progress study work for the Taylor Deposit,
ahead of a planned final investment decision expected in mid-2023.
Following the decision by the United States Government to invoke
the Defense Production Act, supporting the production of critical
metals including manganese, South32 is looking at options to
potentially accelerate the pre-feasibility study for the Clark
Deposit.
Patriot Battery Metals (2% NSR Royalty
on Lithium)
On August 31st, Patriot Battery Metals
(“Patriot”) announced some of the strongest lithium mineralized
intervals of its drill campaign to date, at the Corvette property
in the James Bay Region of Québec. Results included 1.65% Li2O over
159.7 meters in hole CV22-042, including 4.12% Li2O over 9.0 meters
and 3.07% Li2O over 18 meters. As of August 24th, a total of 15,497
meters over 53 holes had been completed from the 2022 drill
campaign and 19 holes are pending assays. The deposit remains open
to the east, west and to depth.
ADDITIONAL HIGHLIGHTS
1) Calibre Mining reported results from their 50
kilometers drill program at the Pan mine including 3.35 g/t
gold over 18 meters at the Black Stallion Target and 0.8 g/t
gold over 47 meters at the Pegasus target (4% NSR royalty).
2) Group 6 Metals announced construction is
advancing on schedule for first production in Q1 2023 at its
Dolphin Tungsten project (1.5% GRR Royalty).
3) O3 Mining Inc. reported results of a PFS on the
Marban project highlighting average annual production of 161koz of
gold over a ~10 year mine life starting in 2026 (0.435% to 2% NSR
royalty).
4) Osisko Metals released results of an updated
PEA on Pine Point which outlined average annual production of
329Mlb of zinc and 141Mlb of lead over a 12-year mine life (3% NSR
royalty).
5) G
Mining Ventures secured financing enabling construction to commence
in Q3 2022 at its Tocantinzinho project and announced a formal
construction decision (0.75% NSR Royalty).
6) Agnico Eagle announced they will start
construction of the Akasaba West open pit mine this year, producing
115,000 ounces of gold and 21,000 tonnes of copper (2% NSR
Royalty).
7) Talisker Resources intersected 41.93 g/t gold
over 1.25 meters within the Bralorne East Block (1.7% NSR
Royalty).
8) Shanta Gold intersected 47 g/t gold over 1.6
meters at Bushiangala and 65.2 g/t gold over 0.7 meter at Isulu (2%
NSR Royalty).
9) Westhaven Gold intersected 1.84 g/t gold over
21.9 meters on the FMN Zone at Shovelnose (2% NSR royalty on
Shovelnose).
10) Eagle Mountain Mining intersected 1.68%
copper, 14.68 g/t silver and 0.37 g/t gold over 24.5 meters at
Talon (3% NSR royalty).
11) Argonaut Gold reported 8.33 g/t gold over 11
meters and 7.4 g/t gold over 13 meters at depth on the Magino
Project (3% NSR Royalty on eastern claims).
12) Aldebaran Resources announced a drill
intersection of 0.33% Cu over 1,059.5 meters on the Altar Project
(1% NSR Royalty).
13) NorthWest Copper announced a resource
estimation including Indicated resources of 13 million tonnes of
0.55% Cu and Inferred resources of 45 million tonnes of 0.4% Cu at
Lorraine, and have initiated a 5,000 meter drill campaign (2% NSR
Royalty on certain claims).
14) Cornish Metals intersected 3.7% tin and 9.09%
zinc over 2.42 meters at United Downs (0.5% NSR Royalty).
Q3 2022 RESULTS AND CONFERENCE CALL DETAILS
Osisko provides notice of the third quarter 2022
results and conference call details.
Q3 2022 Results Release: |
Wednesday, November 9th, 2022 after market close |
Conference Call: |
Thursday, November 10th, 2022 at 10:00 am ET |
Dial-in Numbers: |
North American Toll-Free: 1 (888) 886 7786Local and International:
1 (416) 764 8658Conference ID: 52047754 |
Replay (available until November
24th at 11:59 pm ET): |
North American Toll-Free: 1 (877) 674 7070Local and International:
1 (416) 764 8692Playback Passcode: 047754# |
|
Replay also available on our website at www.osiskogr.com |
Notes:
The figures presented in this press release,
including revenues and costs of sales, have not been audited and
are subject to change. As the Corporation has not yet finished its
quarter-end procedures, the anticipated financial information
presented in this press release is preliminary, subject to
quarter-end adjustments, and may change materially.
(1) Gold Equivalent Ounces
GEOs are calculated
on a quarterly basis and include royalties, streams and offtakes.
Silver earned from royalty and stream agreements are converted to
gold equivalent ounces by multiplying the silver ounces earned by
the average silver price for the period and dividing by the average
gold price for the period. Diamonds, other metals and cash
royalties are converted into gold equivalent ounces by dividing the
associated revenue earned by the average gold price for the period.
Offtake agreements are converted using the financial settlement
equivalent divided by the average gold price for the period.
Average Metal Prices and Exchange
Rate
|
Three months endedSeptember 30, |
|
|
|
|
2022 |
|
2021 |
|
|
|
|
|
|
|
|
|
Gold(i) |
$1,729 |
$1,790 |
|
|
|
Silver(ii) |
$19.23 |
$24.36 |
|
|
|
|
|
|
|
|
|
Exchange rate
(US$/Can$)(iii) |
|
1.3056 |
|
1.2600 |
|
|
|
(i) The
London Bullion Market Association’s pm price in U.S.
dollars. (ii) The
London Bullion Market Association’s price in U.S.
dollars. (iii) Bank
of Canada daily rate.
(2) Non-IFRS Measures
The Corporation has
included certain performance measures in this press release that do
not have any standardized meaning prescribed by International
Financial Reporting Standards (IFRS) including cash margin in
dollars and in percentage. The presentation of these non-IFRS
measures is intended to provide additional information and should
not be considered in isolation or as a substitute for measures of
performance prepared in accordance with IFRS. These measures are
not necessarily indicative of operating profit or cash flow from
operations as determined under IFRS. As Osisko’s operations are
primarily focused on precious metals, the Corporation presents cash
margins as it believes that certain investors use this information,
together with measures determined in accordance with IFRS, to
evaluate the Corporation’s performance in comparison to other
companies in the precious metals mining industry who present
results on a similar basis. However, other companies may calculate
these non-IFRS measures differently.
Cash margin (in dollars) represents
revenues less cost of sales (excluding depletion). Cash margin (in
percentage) represents the cash margin (in dollars) divided by
revenues.
|
|
Three months endedSeptember 30, 2022 |
|
|
|
|
|
|
|
|
Revenues |
$ 53,661 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Cost of sales (excluding depletion) |
|
|
($4,407 |
) |
|
|
|
|
Cash margin (in dollars) |
$ 49,254 |
|
|
|
|
|
Cash margin (in percentage of revenues) |
|
|
92 |
% |
|
|
|
Qualified Person
The scientific and technical content of this
news release has been reviewed and approved by Guy Desharnais,
Ph.D., P.Geo., Vice President, Project Evaluation at Osisko Gold
Royalties Ltd, who is a “qualified person” as defined by National
Instrument 43-101 – Standards of Disclosure for Mineral Projects
(“NI 43-101”).
In this press release, Osisko relies on
information publicly disclosed by other issuers and third parties
pertaining to its assets and, therefore, assumes no liability for
such third-party public disclosure.
About Osisko Gold Royalties
Ltd
Osisko is an intermediate precious metal royalty
company focused on the Americas that commenced activities in June
2014. Osisko holds a North American focused portfolio of over 165
royalties, streams and precious metal offtakes. Osisko’s portfolio
is anchored by its cornerstone asset, a 5% net smelter return
royalty on the Canadian Malartic mine, which is the largest gold
mine in Canada.
Osisko’s head office is located at 1100 Avenue
des Canadiens-de-Montréal, Suite 300, Montréal, Québec,
H3B 2S2.
For further
information, please contact Osisko Gold Royalties
Ltd: |
Heather TaylorVice President,
Investor RelationsTel: (514) 940-0670 #105Email:
htaylor@osiskogr.com |
|
Forward-looking Statements
Certain statements contained in this press
release may be deemed “forward‐looking statements” within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and “forward-looking information” within the meaning of
applicable Canadian securities legislation. These forward‐looking
statements, by their nature, require Osisko to make certain
assumptions and necessarily involve known and unknown risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in these forward‐looking
statements. Forward‐looking statements are not guarantees of
performance. These forward‐looking statements, may involve,
but are not limited to, statements with respect to future events or
future performance, the realization of the anticipated benefits
deriving from Osisko’s investments, the general performance of the
assets of Osisko, and the results of exploration, development and
production activities as well as expansions projects relating to
the properties in which Osisko holds a royalty, stream or other
interest. Words such as “may”, “will”, “would”, “could”, “expect”,
“suggest”, “appear”, “believe”, “plan”, “anticipate”, “intend”,
“target”, “estimate”, “continue”, or the negative or comparable
terminology, as well as terms usually used in the future and the
conditional, are intended to identify forward‐looking statements.
Information contained in forward‐looking statements is based upon
certain material assumptions that were applied in drawing a
conclusion or making a forecast or projection, including, without
limitation, management’s perceptions of historical trends; current
conditions; expected future developments; the ongoing operation of
the properties in which Osisko holds a royalty, stream or other
interest by the operators of such properties in a manner consistent
with past practice; the accuracy of public statements and
disclosures made by the operators of such underlying properties; no
material adverse change in the market price of the commodities that
underlie the asset portfolio; no adverse development in respect of
any significant property in which Osisko holds a royalty, stream or
other interest; the accuracy of publicly disclosed expectations for
the development of underlying properties that are not yet in
production; and the absence of any other factors that could cause
actions, events or results to differ from those anticipated,
estimated or intended. Osisko considers its assumptions to be
reasonable based on information currently available, but cautions
the reader that their assumptions regarding future events, many of
which are beyond the control of Osisko, may ultimately prove to be
incorrect since they are subject to risks and uncertainties that
affect Osisko and its business. Such risks and uncertainties
include, among others, that the financial information presented in
this press release is preliminary and could be subject to
adjustments, the successful continuation of operations underlying
the Corporation’s assets, the performance of the assets of Osisko,
the growth and the benefits deriving from its portfolio of
investments, risks related to the operators of the properties in
which Osisko holds a royalty, stream or other interest, including
changes in the ownership and control of such operators; risks
related to development, permitting, infrastructure, operating or
technical difficulties on any of the properties in which Osisko
holds a royalty, stream or other interest, the influence of
macroeconomic developments as well as the impact of and the
responses of relevant governments to the COVID-19 outbreak and the
effectiveness of such responses. In this press release, Osisko
relies on information publicly disclosed by other issuers and third
parties pertaining to its assets and, therefore, assumes no
liability for such third party public disclosure.
For additional information with respect to these
and other factors and assumptions underlying the forward‐looking
statements made in this press release, see the section entitled
“Risk Factors” in the most recent Annual Information Form of Osisko
which is filed with the Canadian securities commissions and
available electronically under Osisko’s issuer profile on SEDAR at
www.sedar.com and with the U.S. Securities and Exchange Commission
and available electronically under Osisko’s issuer profile on EDGAR
at www.sec.gov. The forward‐ looking statements set forth
herein reflect Osisko’s expectations as at the date of this press
release and are subject to change after such date. Osisko disclaims
any intention or obligation to update or revise any forward‐looking
statements, whether as a result of new information, future events
or otherwise, other than as required by law.
Osisko Gold Royalties (NYSE:OR)
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From May 2023 to Jun 2023
Osisko Gold Royalties (NYSE:OR)
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From Jun 2022 to Jun 2023