OR Royalties Posts Record $102.8M Q1 Revenue, $99.5M Cash Margin
OR Royalties delivered 22,740 attributable gold equivalent ounces in Q1 2026, generating $102.8 million in preliminary revenues with a $99.5 million cash margin (96.8%). The company held $94.9 million cash after repurchasing C$17.7 million of shares and received $17.5 million from the Cascabel stream buyback.
1. Preliminary Q1 2026 Results
OR Royalties earned 22,740 attributable gold equivalent ounces in Q1 2026, delivering record preliminary revenues of $102.8 million and a cost of sales of $3.3 million, resulting in a 96.8% cash margin of $99.5 million.
2. Cash Position and Share Repurchase
As of March 31, 2026, the company held $94.9 million in cash after repurchasing C$17.7 million (US$12.9 million) of common shares under its normal course issuer bid.
3. Cascabel Stream Buyback
In February 2026, OR Royalties’ subsidiary received 4,290 ounces of gold—netting approximately $17.5 million—following SolGold and Jiangxi Copper’s buyback of 50% of the Cascabel gold stream.
4. Undrawn Credit Facility and Upcoming Closings
The $650 million revolving credit facility remained undrawn at quarter end, and the acquisitions of royalty portfolios from Gold Fields and Sailfish Royalty covering Spring Valley are expected to close early in Q2 2026.