OR Royalties Inc. OR Royalties Inc. is a Canada-based intermediate precious metal royalty company focused on acquiring and managing royalties, streams, precious metal offtakes, and similar interests primarily in North America. The company holds a portfolio of over 195 royalties, streams, and offtakes, including 21 producing assets; its cornerstone asset is a 3-5% net smelter return royalty on the Canadian Malartic Complex, one of Canada's largest gold mines; additional key interests encompass gold, silver, and base metal royalties and streams on projects such as Cascabel copper-gold (0.6% NSR + 6% gold stream), Cariboo Gold (5% NSR), Marimaca MOD (1% NSR), Spring Valley (2-3.5% NSR), Dalgaranga, Namdini, Bralorne, and South Railroad silver stream. Founded in 2014 and headquartered in Montreal, Quebec, OR Royalties Inc. generates the majority of its revenue from North America, with additional exposure to South America, Australia, Africa, and Europe; it targets mining operators across exploration, development, and production stages. Recent developments include a name change from Osisko Gold Royalties Ltd, effective May 2025; acquisition of a silver stream on the South Railroad project; first royalty revenues from Namdini and Bralorne mines; an expanded revolving credit facility to $650 million with full repayment achieving a positive net cash position; a 20% dividend increase to $0.055 per share; and record Q3 2025 revenues with an 87% year-over-year rise in cash flows from operating activities to $64.6 million.