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MONTRÉAL - OR Royalties Inc. (OR: TSX & NYSE), a precious metal royalty company, has revised its revolving credit facility, transitioning from a Canadian dollar to a United States dollar denomination and increasing its capacity. The amended agreement provides the company with access to a $650 million credit facility, with an additional uncommitted accordion feature that could extend the total availability to $850 million.
The previous credit agreement capped at C$550 million with a C$200 million uncommitted accordion. The terms of the amended facility, which matures on May 30, 2029, include interest rates tied to the Secured Overnight Financing Rate (SOFR) or Canadian Overnight Repo Rate Average (CORRA) plus a margin of 1.45% to 2.75% annually, determined by the company’s leverage ratio. With a current ratio of 4.98 and a low debt-to-equity ratio of 0.07, OR Royalties maintains a strong balance sheet position.
Jason Attew, President & CEO of OR Royalties, stated that the expansion of the credit facility reflects confidence in the company’s long-term growth prospects and asset quality. He emphasized that the improved financial flexibility would aid in pursuing strategic growth opportunities. Attew also noted that the company’s robust operating cash flows and disciplined capital management have led to a positive net cash position.
The credit facility amendment was led by National Bank of Canada and includes participation from several other major banks. In a separate development, MAC Copper Limited announced on May 27, 2025, an all-cash acquisition by Harmony Gold Mining Company Limited, where OR Royalties owns 4 million shares of MAC Copper, valued at $49 million under the transaction terms.
OR Royalties, with a portfolio of over 195 royalties, streams, and precious metal offtakes, including 21 producing assets, has its cornerstone asset in the Canadian Malartic Complex. This transaction with Harmony is expected to close later this year and will further strengthen OR Royalties’ balance sheet. The company has demonstrated strong market performance with a 43.52% year-to-date return and is currently trading near its 52-week high of $27.60. For deeper insights into OR Royalties’ valuation and growth prospects, including exclusive financial metrics and analyst forecasts, visit InvestingPro, where you’ll find comprehensive research reports and expert analysis covering over 1,400 US-listed companies.
This news article is based on a press release statement from OR Royalties Inc.
In other recent news, Osisko Gold Royalties announced a 20% increase in its quarterly dividend, with US$0.055 per common share to be paid on July 15, 2025. This increase reflects a positive change from the previous dividend and highlights the company’s commitment to returning value to shareholders. Additionally, Osisko Gold Royalties has secured a 100% silver stream on the South Railroad project in Nevada, operated by Orla Mining Ltd., further expanding its asset base in key mining jurisdictions. BMO Capital analysts raised the price target for Osisko Gold Royalties to Cdn$33.00, maintaining a Market Perform rating, citing the company’s strategic portfolio updates, including the silver stream acquisition.
The company has also received endorsements from Institutional Shareholder Services and Glass Lewis & Co. for all proposed resolutions at its upcoming Annual and Special Meeting of Shareholders. This endorsement may influence shareholder decisions ahead of the meeting. Furthermore, Osisko Development Corp. released an Optimized Feasibility Study for its Cariboo gold project in British Columbia, outlining a 10-year mine life with significant annual gold production. In another development, Osisko Gold Royalties sold its ownership interest in the Amulsar mine to United Gold, entering into amended purchase and credit agreements for gold and silver.
These recent developments reflect Osisko Gold Royalties’ ongoing efforts to enhance its portfolio and growth prospects in the mining sector.
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