# OR Royalties Inc. (TSX:OR)

> OR Royalties Inc.

## About

OR Royalties Inc. is a company focused on acquiring and managing a portfolio of precious metals royalties. The company operates a highly efficient and scalable business model, characterized by high asset and cash flow diversification, predictable operating costs, and insulation from rising geopolitical risks. OR Royalties has a strong balance sheet with significant liquidity and aims for substantial growth in gold equivalent ounces (GEOs) over the coming years.

## Key facts

- **Cash position:** $94.9 M
- **Shares outstanding:** 187.3 M
- **Fully diluted shares:** not discovered
- **Warrants:** not discovered
- **Options:** not discovered
- **Mineral resource:** Proven and probable reserves of 1,940 koz Au (74,9 Mt @ 0.81 g/t Au) for Canadian Malartic; Proven and probable reserves of 5,380 koz Au (158 Mt @ 1.06 g/t Au) for Namdini. Inferred resources of 129 koz Au (5.6 Mt @ 0.72 g/t Au) for Canadian Malartic; Inferred resources of 470 koz Au (14.2 Mt @ 1.03 g/t Au) for Namdini.
- **Projects:** ["# Canadian Malartic (Au)\n\n|     |     |\n| --- | --- |\n| **Royalty and Terms:** | 5% NSR royalty on the open-pit at Canadian Malartic, and a $0.40/tonne royalty on any ore sourced from<br>outside the royalty boundaries processed through the Canadian Malartic mill. |\n| **Operator:** | Visit [Agnico Eagle](https://www.agnicoeagle.com/Home/default.aspx) for more information |\n| **Commodities:** | Gold, Silver |\n| **Location:** | Québec, Canada |\n| **Reserves and Resources:** | - Proven and probable reserves of 1,940 koz Au (74,9 Mt @ 0.81 g/t Au)<br>- Inferred resources of 129 koz Au (5.6 Mt @ 0.72 g/t Au) |\n| **Production:** | - 2022: 659 koz Au<br>- 2023: 685 koz Au<br>- 2024: 656 koz Au<br>- 2025e: 590 koz Au |\n\n#### **More details in the 2025 Asset Handbook![](https://orroyalties.com/app/uploads/2025/05/AH2025.jpg)**\n\n[Canadian Malartic, page 16](https://orroyalties.com/app/uploads/2025/05/Asset_Handbook_2025_OR-ROYALTIES_web_FINAL.pdf#page=18)\n\nSource: Company disclosure and Osisko management estimates.\n\n#### **Royalty Map***\n\n\n*Royalty and stream maps are provided for illustrative purposes only and shall not be deemed conclusive with respect to the relevant royalty or stream area.","# Namdini (Au)\n\n|     |     |\n| --- | --- |\n| **Royalty and Terms:** | 1% NSR royalty |\n| **Operator:** | Shandong Gold Co Ltd. |\n| **Commodity:** | Gold |\n| **Location:** | Ghana |\n| **Reserves and Resources:** | - Proven and probable reserves of 5,380 koz Au (158 Mt @ 1.06 g/t Au)<br>- Measured and indicated resources (exclusive of reserves) of 1,380 koz Au (46.2 Mt @ 0.93 g/t Au)<br>- Inferred resources of 470 koz Au (14.2 Mt @ 1.03 g/t Au) |\n| **Production:** | - (LOM Avg.) 287 koz Au – First royalty payment received in Q2 2025 |\n\n#### **More details in the 2025 Asset Handbook![](https://orroyalties.com/app/uploads/2025/05/AH2025.jpg)**\n\n[Namdini, page 54](https://orroyalties.com/app/uploads/2025/05/Asset_Handbook_2025_OR-ROYALTIES_web_FINAL.pdf#page=56)\n\nSource: Company disclosure and Osisko management estimates."]
- **Leadership:** Norman MacDonald (Independent Chair of the Board of Directors, Over 25 years of experience in natural resource investment firms, including roles at Fort Capital and Invesco.), Jason Attew (President, Chief Executive Officer and Director, Mining industry veteran with over 25 years of experience, previously CEO at Liberty Gold Corp and Gold Standard Ventures Corp.), Patrick Godin (Director, Over 30 years of corporate and operations experience in mining, former CEO of New Gold Inc.), Wendy Louie (Director, Corporate director and CPA with over 25 years of finance experience in mining, former CFO of Sabina Gold and Silver Corp.), Pierre Labbé (Director, Executive VP of Fonds QScale S.E.C. with over 30 years in financial leadership roles, former CFO of IMV Inc.), Candace MacGibbon (Director, Corporate director and CPA with over 25 years in mining and capital markets, former CEO of INV Metals Inc.), Kevin Thomson (Director, Over 40 years of mergers and acquisitions experience in mining, former Senior Executive VP at Barrick Gold Corporation.), Sean Roosen (Chair Emeritus, Founding member of Osisko Mining Corporation with over 30 years in the mining industry.)

_Verified data last updated: 2026-08-14_

## Recent filings

- 2026-08-17 — mda — [or_2026-08-17_12-24-46.pdf](https://ai-chat-dev-red.vercel.app/or/preview/114440?documentId=114440)
- 2026-08-05 — press_release — [or_2026-08-05_19-45-08.pdf](https://ai-chat-dev-red.vercel.app/or/preview/110968?documentId=110968)
- 2026-08-05 — press_release — [or_2026-08-05_19-42-06.pdf](https://ai-chat-dev-red.vercel.app/or/preview/110969?documentId=110969)
- 2026-08-05 — press_release — [or_2026-08-05_19-41-36.pdf](https://ai-chat-dev-red.vercel.app/or/preview/110961?documentId=110961)
- 2026-08-05 — other — [or_2026-08-05_19-41-05.pdf](https://ai-chat-dev-red.vercel.app/or/preview/110962?documentId=110962)
- 2026-08-05 — other — [or_2026-08-05_19-40-34.pdf](https://ai-chat-dev-red.vercel.app/or/preview/110963?documentId=110963)
- 2026-08-05 — other — [or_2026-08-05_19-40-03.pdf](https://ai-chat-dev-red.vercel.app/or/preview/110964?documentId=110964)
- 2026-08-05 — financials — [or_2026-08-05_19-39-32.pdf](https://ai-chat-dev-red.vercel.app/or/preview/110965?documentId=110965)

## Investor FAQ

### [Latest News?](https://ai-chat-dev-red.vercel.app/or/faq/latest-news)

Not disclosed in available filings.

### [Royalties](https://ai-chat-dev-red.vercel.app/or/faq/royalties)

OR Royalties Inc. has a 5% NSR royalty on the open-pit at Canadian Malartic and a $0.40/tonne royalty on any ore sourced from outside the royalty boundaries processed through the Canadian Malartic mill. Additionally, there is a 1% NSR royalty on the Namdini project operated by Shandong Gold Co Ltd.

## Live AI chat

- https://ai-chat-dev-red.vercel.app/or/chat
- Investor website: https://orroyalties.com/