History
Osisko Gold Royalties, renamed OR Royalties by mid-2025, grew through a steady run of royalty and stream purchases, sold part of its Osisko Mining stake, and kept buying through April 2026.
2020-2021: Funding and first deals
The record opens in March 2020, when Osisko agreed a non-brokered private placement (a share sale made directly to an investor, without a broker) with Investissement Québec. It was completed on 1 April 2020. The dollar figure is cut off in the available text, so the amount and share count are unknown. Share numbers rose from 157,469,361 at the end of 2019 to 167,165,341 at the end of 2020, though the beats do not tie the whole increase to this placement.
In August 2020 Osisko acquired an additional 15% ownership in a Canadian precious metal royalty portfolio. In April 2021 it completed the acquisition of Spring Valley Royalty. Prices and sellers are not in the available record for either deal. The company also ran an annual share buyback, renewed each December from 2020, and had bought 1.3 million shares for C$18.5 million by September 2021. The count then eased slightly, to 166,493,597 at the end of 2021.
2022-2023: Streams, a royalty and a stake sale
2022 was a busy year for deals. In January Osisko agreed to acquire a metals stream on the Trixie Mine in Utah's Tintic Mining District. A stream is a deal in which a company pays upfront and in return receives a share of a mine's metal output. In March it agreed to acquire a cash-flowing silver stream, though the mine and terms are cut off in the text. In November it signed a binding agreement to acquire a royalty (a share of a mine's revenue) on SolGold's Cascabel Project. No prices are available. Shares on issue rose from 166,493,597 to 184,013,474 over 2022, but the beats do not explain the rise.
The year 2023 brought a change of direction. In December Osisko sold common shares of Osisko Mining, the company behind the Windfall Project, for gross proceeds of C$132 million. The number of shares sold and the buyer are not given. Paul Martin had served as interim CEO during 2023.
2024-2025: New leadership and a new name
By July 2024 Jason Attew was signing filings as President and CEO. That month Osisko and Franco-Nevada acquired a gold stream on the Cascabel copper project, adding to the royalty bought in 2022. In December 2024 the company announced an additional interest in the Gibraltar silver stream and closed its Dalgaranga royalties acquisition.
By June 2025 the company was filing as OR Royalties Inc., although the filing does not explain the change from Osisko Gold Royalties Ltd. On 2 June it gave positive updates on development assets outside its five-year outlook and announced a silver stream acquisition, with the project name cut off. A week later it announced an increase to its credit facility, with no amounts given. Buybacks continued: 593,432 shares were bought for C$28.0 million in 2025 up to 8 December. Shares on issue stood at 187,152,235 at the end of 2025.
2026: Buying on, and a sale
The pace of purchases continued into 2026. In January OR Royalties acquired an additional 1.0% NSR royalty (a percentage of a mine's sales revenue) on the Namdini Gold Mine in Ghana. In February it acquired a portfolio of royalties including a 1.5% NSR on Buenaventura's producing San Gabriel Mine, and then additional royalties on Spring Valley in Nevada. In April it announced a precious metals stream on a Canadian copper project, whose name is cut off.
On 30 April 2026 the company gave a portfolio update, citing positive developments at Island Gold, Dalgaranga, Glenburgh, Eagle and others. It also announced a strategic sale of something titled "Osisko...", but the title is cut off, so what is being sold and for how much is unknown. As of that date, the company was a royalty and stream business led by Jason Attew, with a credit facility of undisclosed size and about 187 million shares on issue at the last year end.
Written from the 17 story beats below (2020 to 30 Apr 2026), which come from the company's own announcements and filings.