OR Royalties Inc.
For the period ended Dec 31, 2024. Filed Mar 28, 2025.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2024 · Filed Mar 28, 2025
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EX-99.3 · Contractual Obligations and Commitments
| Osisko Gold Royalties Ltd | Management’s Discussion and Analysis |
|---|
Contractual Obligations and Commitments
Investments in royalty and stream interests
As at December 31, 2024, significant commitments related to the acquisition of royalties and streams are detailed in the following table. The Company intends to meet these commitments by using its cash balance, from its expected operating cash flows to be generated from its operations and/or by drawdowns on its revolving credit facility.
| Company | Project (asset) | Installments | Triggering events |
|---|---|---|---|
| Gold Resource Corporation | Back Forty project (gold stream) | $5.0 million | Receipt of all material permits for the construction and operation of the project. |
| $25.0 million | Pro rata to drawdowns with construction finance facility. | ||
| SolGold plc | Cascabel project (gold stream) | $10.0 million | Achievement of operational milestones, including execution of the amended investment protection agreement, completion of geotechnical drilling and finalization of the tailings storage facility design sufficient for a minimum of 10 years of operation. |
| $10.0 million | Achievement of operational milestones, including submission of all final permit applications for the construction and operation of the project. | ||
| $195.0 million | Pro rata to drawdowns with construction finance facility. | ||
| Falco Resources Ltd. | Horne 5 project (silver stream) | C$45.0 million | Receipt of all necessary material third-party approvals, licenses, rights of way, surface rights on the property and all material construction permits, positive construction decision, and raising a minimum of C$135.0 million in non-debt financing and demonstrating that the financial assurance required to allow Falco to proceed with the commencement of mining activities can be satisfied, as applicable. |
| C$60.0 million | Upon total projected capital expenditure having been demonstrated to be financed. | ||
| C$40.0 million (optional) | Payable with fourth installment, at sole election of Osisko, to increase the silver stream to 100% of payable silver (from 90%). | ||
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