Osisko Announces Preliminary Q1 2025 GEO Deliveries and Strong Quarterly Cash Margin
Osisko Gold Royalties (OR: TSX & NYSE) reported strong preliminary Q1 2025 results, earning 19,014 attributable gold equivalent ounces (GEOs). The company achieved preliminary revenues of $54.9 million from royalties and streams, with cost of sales of $1.6 million, resulting in a record quarterly cash margin of $53.3 million (97.1%).
The company's cash position stood at $63.1 million as of March 31st, 2025, after a $19.6 million net repayment on its revolving credit facility. The facility had a remaining balance of $74.3 million, with an additional $308.2 million available plus an uncommitted accordion of C$200 million. Post-quarter, Osisko further reduced the facility balance to $49.3 million with an additional $25.0 million payment.
Osisko Gold Royalties (OR: TSX & NYSE) ha riportato risultati preliminari forti per il primo trimestre del 2025, guadagnando 19.014 once d'oro equivalente attribuibili (GEO). L'azienda ha raggiunto ricavi preliminari di 54,9 milioni di dollari da diritti e flussi, con un costo delle vendite di 1,6 milioni di dollari, portando a un margine di cassa trimestrale record di 53,3 milioni di dollari (97,1%).
La posizione di cassa dell'azienda era di 63,1 milioni di dollari al 31 marzo 2025, dopo un rimborso netto di 19,6 milioni di dollari sulla sua linea di credito revolving. La linea aveva un saldo residuo di 74,3 milioni di dollari, con ulteriori 308,2 milioni di dollari disponibili più un accordion non impegnato di 200 milioni di dollari canadesi. Dopo il trimestre, Osisko ha ulteriormente ridotto il saldo della linea a 49,3 milioni di dollari con un ulteriore pagamento di 25,0 milioni di dollari.
Osisko Gold Royalties (OR: TSX & NYSE) reportó resultados preliminares sólidos para el primer trimestre de 2025, ganando 19,014 onzas equivalentes de oro atribuibles (GEO). La compañía logró ingresos preliminares de 54.9 millones de dólares provenientes de regalías y flujos, con un costo de ventas de 1.6 millones de dólares, resultando en un margen de efectivo trimestral récord de 53.3 millones de dólares (97.1%).
La posición de efectivo de la compañía se situaba en 63.1 millones de dólares al 31 de marzo de 2025, tras un reembolso neto de 19.6 millones de dólares en su línea de crédito rotativa. La línea tenía un saldo restante de 74.3 millones de dólares, con otros 308.2 millones de dólares disponibles más un accordion no comprometido de 200 millones de dólares canadienses. Después del trimestre, Osisko redujo aún más el saldo de la línea a 49.3 millones de dólares con un pago adicional de 25.0 millones de dólares.
Osisko Gold Royalties (OR: TSX & NYSE)는 2025년 1분기 강력한 예비 실적을 보고하며 19,014 온스의 귀속 금 동등량 (GEO)을 기록했습니다. 회사는 로열티와 스트림으로부터 5,490만 달러의 예비 수익을 달성했으며, 매출 원가는 160만 달러로, 기록적인 분기 현금 마진 5,330만 달러 (97.1%)를 달성했습니다.
회사의 현금 위치는 2025년 3월 31일 기준으로 6,310만 달러였으며, 이는 회전 신용 시설에서 1960만 달러의 순 상환 후의 수치입니다. 이 시설의 잔액은 7430만 달러였으며, 추가로 3억 820만 달러가 사용 가능하고, 비약정식 아코디언이 2억 캐나다 달러가 있습니다. 분기 이후, Osisko는 추가로 2500만 달러를 지급하여 시설 잔액을 4930만 달러로 줄였습니다.
Osisko Gold Royalties (OR : TSX & NYSE) a annoncé de solides résultats préliminaires pour le premier trimestre 2025, avec 19 014 onces d'équivalent or attribuables (GEO). L'entreprise a réalisé des revenus préliminaires de 54,9 millions de dollars provenant de redevances et de flux, avec un coût des ventes de 1,6 million de dollars, ce qui a abouti à une marge de trésorerie trimestrielle record de 53,3 millions de dollars (97,1 %).
La position de trésorerie de l'entreprise était de 63,1 millions de dollars au 31 mars 2025, après un remboursement net de 19,6 millions de dollars sur sa facilité de crédit renouvelable. La facilité avait un solde restant de 74,3 millions de dollars, avec 308,2 millions de dollars supplémentaires disponibles ainsi qu'un accordion non engagé de 200 millions de dollars canadiens. Après le trimestre, Osisko a encore réduit le solde de la facilité à 49,3 millions de dollars avec un paiement supplémentaire de 25,0 millions de dollars.
Osisko Gold Royalties (OR: TSX & NYSE) berichtete über starke vorläufige Ergebnisse für das erste Quartal 2025 und erzielte 19.014 zurechenbare Goldäquivalentunzen (GEO). Das Unternehmen erzielte vorläufige Einnahmen von 54,9 Millionen Dollar aus Lizenzgebühren und Streams, mit Kosten von 1,6 Millionen Dollar, was zu einer rekordverdächtigen quartalsweisen Cash-Marge von 53,3 Millionen Dollar (97,1%) führte.
Die Liquiditätsposition des Unternehmens betrug zum 31. März 2025 63,1 Millionen Dollar, nach einer Nettorückzahlung von 19,6 Millionen Dollar auf seine revolvierende Kreditlinie. Die Kreditlinie hatte einen verbleibenden Saldo von 74,3 Millionen Dollar, mit weiteren 308,2 Millionen Dollar verfügbar sowie einem nicht gebundenen Accordion von 200 Millionen kanadischen Dollar. Nach dem Quartal reduzierte Osisko den Saldo der Kreditlinie auf 49,3 Millionen Dollar mit einer zusätzlichen Zahlung von 25,0 Millionen Dollar.
- Record quarterly cash margin of 97.1%
- Strong revenue growth to $54.9 million in Q1 2025 vs $45.0 million in Q1 2024
- Significant debt reduction of $44.6 million ($19.6M in Q1 + $25.0M post-quarter)
- Substantial available credit facility of $308.2 million plus C$200 million accordion
- Increased cost of sales to $1.62 million in Q1 2025 from $1.36 million in Q1 2024
Insights
Osisko's Q1 2025 results showcase exceptional operational efficiency with a record
The company's financial discipline is evident in their debt reduction strategy, with a
What truly stands out is Osisko's ability to capitalize on the robust precious metals market, with gold prices averaging
The substantial available credit capacity (
MONTREAL, April 09, 2025 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its first quarter 2025 preliminary deliveries, revenues and cash margin, as well as on its cash and debt positions as at March 31st, 2025. All monetary amounts included in this report are expressed in United States dollars, unless otherwise noted.
PRELIMINARY Q1 2025 RESULTS
Osisko earned 19,014 attributable gold equivalent ounces1 (“GEOs”) in the first quarter of 2025.
Osisko recorded preliminary revenues from royalties and streams of
As at March 31st, 2025, Osisko’s cash position was approximately
Subsequent to quarter end, Osisko paid down an additional
Q1 2025 RESULTS CONFERENCE AND WEBCAST CALL DETAILS
Osisko provides notice of the first quarter 2025 results and conference and webcast call details.
| Results Release: | Wednesday, May 7th, 2025 after market close | |
| Conference Call: | Thursday, May 8th, 2025 at 10:00 am ET | |
| Dial-in Numbers: (Option 1) | North American Toll-Free: 1 (800) 717-1738 Local – Montreal: 1 (514) 400-3792 Local – Toronto: 1 (289) 514-5100 Local – New York: 1 (646) 307-1865 Conference ID: 33088 | |
| Webcast link: (Option 2) | https://viavid.webcasts.com/starthere.jsp?ei=1713958&tp_key=482b1aae4e | |
| Replay (available until Sunday, June 8th, at 11:59 PM ET): | North American Toll-Free: 1 (888) 660-6264 Local – Toronto: 1 (289) 819-1325 Local – New York: 1 (646) 517-3975 Playback Passcode: 33088# | |
| Replay also available on our website at www.osiskogr.com |
The figures presented in this press release, including the cash and debt balances, and the revenues and costs of sales, have not been audited and are subject to change. As the Company 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 and streams. Silver and copper earned from royalty and stream agreements are converted to gold equivalent ounces by multiplying the silver ounces or copper tonnes earned by the average silver price or copper price for the period and dividing by the average gold price for the period. Cash royalties and other metals and commodities are converted into gold equivalent ounces by dividing the associated revenue earned by the average gold price for the period. |
| Average Metal Prices | ||||||
| Three months ended March 31 | ||||||
| 2025 | 2024 | |||||
| Gold (i) | $ | 2,860 | $ | 2,070 | ||
| Silver (ii) | $ | 31.88 | $ | 23.34 | ||
| Copper (iii) | $ | 9,340 | $ | 8,438 | ||
| (i) | The London Bullion Market Association’s pm price in U.S. dollars per ounce. | ||
| (ii) | The London Bullion Market Association’s price in U.S. dollars per ounce. | ||
| (iii) | The London Metal Exchange’s price in U.S. dollars per tonne. |
| (2) | Non-IFRS Measures |
| Cash margin in dollars and in percentage of revenues are non-IFRS financial measures. Cash margin (in dollars) is defined by Osisko as revenues less cost of sales (excluding depletion). Cash margin (in percentage of revenues) is obtained from the cash margin (in dollars) divided by revenues. | |
| Management uses cash margin in dollars and in percentage of revenues to evaluate Osisko’s ability to generate positive cash flow from its royalty, stream and other interests. Management and certain investors also use this information, together with measures determined in accordance with IFRS Accounting Standards such as gross margin and operating cash flows, to evaluate Osisko’s performance relative to peers in the mining industry who present these measures on a similar basis. Cash margin in dollars and in percentage of revenues are only intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. They do not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. | |
| A reconciliation of the cash margin (in thousands of dollars and in percentage of revenues) is presented below: | |
| Three months ended March 31 | ||||||||
| 2025 | 2024 | |||||||
| Revenues | $ | 54,916 | $ | 45,047 | ||||
| Less: Cost of sales (excluding depletion) | $ | (1,619 | ) | $ | (1,359 | ) | ||
| Cash margin (in dollars) | $ | 53,297 | $ | 43,688 | ||||
| Cash margin (in percentage of revenues) | 97.1 | % | 97.0 | % | ||||
About Osisko Gold Royalties Ltd
Osisko is an intermediate precious metals royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American and Australian focused portfolio of over 185 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 3
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:
| Grant Moenting Vice President, Capital Markets Tel: (514) 940-0670 x116 Cell: (365) 275-1954 Email: gmoenting@osiskogr.com | Heather Taylor Vice President, Sustainability and Communications Tel: (514) 940-0670 x105 Email: 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. Forward-looking statements are statements other than statements of historical fact, that address, without limitation, future events, that preliminary financial information may be subject to quarter end adjustments and the availability of the uncommitted accordion of the credit facility. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions or variations (including negative variations), or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, most of which are beyond the control of Osisko, and actual results may accordingly differ materially from those in forward-looking statements. Such risk factors include, without limitation, (i) with respect to properties in which Osisko holds a royalty, stream or other interest; risks related to: (a) the operators of the properties, (b) timely development, permitting, construction, commencement of production, ramp-up (including operating and technical challenges), (c) differences in rate and timing of production from resource estimates or production forecasts by operators, (d) differences in conversion rate from resources to reserves and ability to replace resources, (e) the unfavorable outcome of any challenges or litigation relating title, permit or license, (f) hazards and uncertainty associated with the business of exploring, development and mining including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding and other natural disasters or civil unrest or other uninsured risks, (ii) with respect to other external factors: (a) fluctuations in the prices of the commodities that drive royalties, streams, offtakes and investments held by Osisko, (b) a trade war or new tariff barriers, (c) fluctuations in the value of the Canadian dollar relative to the U.S. dollar, (d) regulatory changes by national and local governments, including permitting and licensing regimes and taxation policies, regulations and political or economic developments in any of the countries where properties in which Osisko holds a royalty, stream or other interest are located or through which they are held, (e) continued availability of capital and financing and general economic, market or business conditions, and (f) responses of relevant governments to infectious diseases outbreaks and the effectiveness of such response and the potential impact of such outbreaks on Osisko’s business, operations and financial condition; (iii) with respect to internal factors: (a) business opportunities that may or not become available to, or are pursued by Osisko, (b) the integration of acquired assets or (c) the determination of Osisko’s PFIC status (d) that preliminary financial information may be subject to quarter end adjustments. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the absence of significant change in Osisko’s ongoing income and assets relating to determination of its PFIC status, and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended and, with respect to properties in which Osisko holds a royalty, stream or other interest, (i) the ongoing operation of the properties by the owners or operators of such properties in a manner consistent with past practice and with public disclosure (including forecast of production), (ii) the accuracy of public statements and disclosures made by the owners or operators of such underlying properties (including expectations for the development of underlying properties that are not yet in production), (iii) no adverse development in respect of any significant property, (iv) that statements and estimates relating to mineral reserves and resources by owners and operators are accurate and (v) the implementation of an adequate plan for integration of acquired assets.
For additional information on risks, uncertainties and assumptions, please refer to the most recent Annual Information Form of Osisko filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov which also provides additional general assumptions in connection with these statements. Osisko cautions that the foregoing list of risk and uncertainties is not exhaustive. Investors and others should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Osisko believes that the assumptions reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be accurate as actual results and prospective events could materially differ from those anticipated such the forward-looking statements and such forward-looking statements included in this press release are not guarantee of future performance and should not be unduly relied upon. These statements speak only as of the date of this press release. Osisko undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.
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