OR Royalties Commits C$38.35 M for 20% Bathurst Stream, Buys C$5.48 M Shares
OR Royalties will provide C$38.35 million to Canadian Copper for a 20% life-of-mine silver and gold stream, including a C$6.85 million deposit and C$31.5 million in construction instalments. It will also acquire C$5.48 million of Canadian Copper shares at a 20% premium under a C$96 million development funding deal.
1. Investment Terms
OR Royalties will invest C$38.35 million in Canadian Copper’s Bathurst Complex in exchange for a 20% life-of-mine payable silver and gold stream. The agreement includes a C$6.85 million initial deposit on closing and C$31.5 million in instalments during construction.
2. Financing Structure
The C$96 million development package also features up to C$48 million in project debt from Ocean Partners UK with a 36-month term and 12-month grace period, plus a 2% utilisation fee and 2% early repayment fee.
3. Equity Purchase Details
OR Royalties will acquire C$5.48 million of Canadian Copper shares at a 20% premium over the prior closing price, with potential for an additional C$10.5 million equity subscription alongside Ocean Partners.
4. Strategic Implications
The flexible funding limits common share dilution for OR Royalties while securing a critical minerals stream, supporting near-term development goals and aligning with Canada’s critical minerals strategy.