Osisko Gold Royalties Buys Orion Mine Finance Portfolio

Osisko Gold Royalties said Monday it has reached a deal with Orion Mine Finance Group to acquire a precious metals portfolio consisting of 74 royalties, streams and precious metal offtakes for roughly C$1.13 billion ($835 million).

The acquisition is expected to be immediately accretive to cash flow, Osisko said. The transaction gives the company forecasted production of over 100,000 gold equivalent ounces, or GEOs, in 2018 growing to over 140,000 GEOs by 2023 and pro forma cash flow growth of 10% per annum from 2017 to 2023. The combination of Osisko and Orion’s portfolios will result in the company holding a total of 131 royalties and streams, including 16 revenue-generating assets, the company said.

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