2024 Asset Handbook
Osisko Gold Royalties is a precious metals-focused, pure-play royalty and streaming company with a senior-quality suite of production and development assets and a peer-leading gold-equivalent ounce growth trajectory. Since the Company’s inception in 2014, Osisko has continued to offer investors exposure to a high-quality precious metals portfolio, with the majority of our net asset value being associated with producing mines and development projects located in Tier-1 mining jurisdictions, being Canada, the United States of America, and Australia. Our portfolio is anchored by a 3-5% NSR royalty on the Canadian Malartic Complex, located in Québec, Canada, and operated by Agnico Eagle Mines Ltd.
In less than 10 years, Osisko has grown from having just one producing royalty and a total of five assets to a company with over 185 royalties, streams, and offtakes, 19 of which are currently in production and the balance at various stages of exploration and development. A significant number of our top-producing assets are currently undergoing expansions, ramp-ups, or meaningful growth phases. This speaks to Osisko’s ability to finance high-quality assets and highlights the maturation of our portfolio since the Company’s inception in 2014.
Osisko has come to play a vital role in financing the mining industry. Our capital has been deployed to finance new mine construction, throughput and production expansions, counterparty debt reduction, asset acquisitions, project development, and grassroots exploration. Our shareholders benefit from our expertise in the mining sector as we provide investors with lower-risk precious metals exposure via a geographically and operationally diversified asset base with future exploration upside at no additional cost.
As a company, we were extremely active throughout 2023, reaping the benefits of a solid underlying asset base with record GEOs and cash flows earned while also adding new high-quality royalty and stream assets to the portfolio. Furthermore, we took significant steps to simplify the business to realign Osisko as a “pure-play” royalty and streaming company. Finally, with a financially robust balance sheet as of the end of 2023, the Company is well-positioned to continue deploying capital in a disciplined manner through the investment in new royalties and streams with a focus on accretive growth.
As you read through this year’s edition of our Asset Handbook, you will walk away with a better understanding of our portfolio’s quality, value, depth and significant growth potential.