Northwire Canada EditionWednesday, November 11, 2026
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Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1% Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1%
M&A / Property

OR Royalties Announces Acquisition of Additional Royalties on Spring Valley in Nevada

OR Royalties pivots from debt elimination to aggressive asset consolidation as record gold prices fuel a "triple crown" performance.

By The Northwire Desk — AI Analysis Feb 24, 2026 · 06:59 OR · 61.26 OR Royalties Inc.
Executive Summary

The most recent news (February 24, 2026) announces that OR Royalties will acquire Terraco Gold Corp. for $168 million. This acquisition consolidates and increases Net Smelter Return (NSR) royalties on the Spring Valley Gold Project in Nevada. Key details include a 3.0% NSR on the main Schmidt Claim Block and various other interests. Spring Valley is a fully permitted, multi-million-ounce project expected to begin production in 2028, contributing significantly to the company's 2030 production targets.

This follows a flurry of mid-February activity, including record 2025 financial results (revenues of $277.4M, net earnings of $206.1M), a $115 million acquisition of a royalty portfolio from Gold Fields (anchored by the producing San Gabriel mine), and the doubling of its royalty interest in the Namdini mine to 2.0%.

Material Impact

The impact is Material - Positive. The company has successfully transitioned from a period of heavy debt (CAD 300M+ two years ago) to being debt-free with $142M in cash and $850M in available liquidity. - Immediate Cash Flow: The San Gabriel acquisition adds immediate Gold Equivalent Ounces (GEOs) in 2026. - Growth Profile: The Spring Valley and Namdini transactions solidify a 50% growth trajectory, targeting 120,000–135,000 GEOs by 2030. - Operational De-risking: By "doubling down" on Namdini and Spring Valley, management is deploying capital into assets where they already have technical comfort and where permitting is complete. - Dividend Growth: The 20% dividend increase in 2025 and the inclusion in the S&P/TSX Dividend Aristocrats Index signal strong, sustainable capital return.

OR · Price
Company Overview

OR Royalties (formerly Osisko Gold Royalties) is a leading intermediate precious metals royalty company. Its flagship asset is a 3-5% NSR royalty on the Canadian Malartic Complex, one of the world's largest gold mines. The company focuses on high-quality, long-life assets in Tier-1 jurisdictions (Canada, USA, Australia).

Read the original news release →

More from OR Royalties Inc.

Oct 07, 2026 · 07:00

Or’s Q3 gold output remained flat year-on-year as Barnat production declines offset ramp-ups, while revenue rose 26% driven by higher prices.

Earnings Sep 23, 2026 · 16:05

OR’s portfolio catalysts and production ramp-ups confirm its long-term growth trajectory, aligning with current guidance.

Drill Results Aug 05, 2026 · 16:35

OR reaffirms guidance on its high-margin royalty model despite risks from the Barnat pit and rising leverage.

Earnings Jul 08, 2026 · 07:10

OR’s high-margin royalty model delivered in Q2, though the Malartic pit wall casts a shadow over H2 results.

Earnings Jul 02, 2026 · 17:00

OR’s Barnat pit setback tests confidence in its unshaken 2026 guidance.

Production / Operations May 06, 2026 · 16:14

OR Royalties Inc.

Earnings