Suncor Energy: Osisko Gold Royalties Ltd

Osisko Gold Royalties Ltd - OR.t focus is as a mining royalty and exploration company whose cornerstone assets are a 5% NSR royalty on the Canadian Malartic Gold Mine, located in Malartic, Quebec and a sliding scale 2.0% – 3.5% NSR royalty on the Éléonore mine.

The Company also holds a 2% NSR royalty on the Upper Beaver, Kirkland Lake and Hammond Reef gold exploration projects in Northern Ontario.

On March 14, 2016 the company released Numbers

"Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX) reports today fourth quarter net earnings¹ of $4.5 million ($0.05 per share). Net earnings for the full year 2015 reached $28.5 million ($0.33 per share).Highlights – 2016

Closed a $50.0 million financing in the form of a convertible debenture with Investissement Québec;
Closed a bought deal financing for total gross proceeds of $172.6 million;
Declaration of a quarterly dividend of $0.04 per common share on February 17, 2016, payable on April 15, 2016 to shareholders of record as of the close of business on March 31, 2016.

Highlights – 2015

30,125 gold ounces earned and 30,104 ounces sold (2014 – 12,327 ounces earned and sold);
31,318 silver ounces earned and 31,263 ounces sold (2014 – 11,915 ounces earned and sold);
Revenues of $45.4 million (2014 – $17.2 million);
Dividend income mainly from holdings in Labrador Iron Ore Royalty Corporation (“LIORC”) of $5.9 million;
Net earnings of $28.5 million, $0.33 per basic share (2014¹ – net loss of $2.1 million, $0.05 per basic share);
Adjusted earnings^² of $40.4 million, $0.46 per basic share2 (2014 – $10.1 million and $0.22 per basic share);
Net cash flows provided by operating activities³of $32.2 million (2014¹ – $5.9 million);
Total value of working capital and marketable securities of $380.5 million at December 31, 2015;
Completed the friendly acquisition of Virginia Mines Inc. (“Virginia”);
Full repayment of US$5 million advanced royalty payment to Goldcorp Inc. (“Goldcorp”) (4,328 gold ounces);
Completed a bought deal private placement for total gross proceeds of over $200.0 million;
Acquisition of a 9.8% interest in LIORC;
Announced the acquisition of a portfolio of Canadian royalties held by Teck Resources Limited and its subsidiary Teck Metals Ltd. for a cash consideration of $28.0 million, with an additional $2.5 million payable on confirmation of certain rights;
Implementation of a Dividend Reinvestment Plan;
Increased its revolving credit facility from $100.0 million to $150.0 million with a possibility to increase by $50 million; and
Increased fourth quarter dividend to $0.04 per common share and declared on November 4, 2015 and payable on January 15, 2016 to shareholders of record as of the close of business on December 31, 2015.

Highlights – Fourth Quarter 2015

7,989 gold ounces earned and 8,437 ounces sold (2014 – 5,010 ounces earned and 5,484 ounces sold);
8,574 silver ounces earned and 9,019 ounces sold (2014 – 4,902 ounces earned and 5,392 ounces sold);
Revenues of $12.8 million (2014 – $7.6 million);
Dividend income from holdings in LIORC of $1.6 million;
Net earnings of $4.5 million or $0.05 per basic and diluted share (2014 – net loss of $2.2 million or $0.04 per basic and diluted share);
Adjusted earnings of $10.5 million or $0.11 per share (2014 – adjusted earnings of $3.1 million or $0.06 per share);
Operating income of $4.0 million in 2015 (2014 – operating loss of $0.4 million); and
Net cash flows provided by operating activities before change in non-cash working capital items of $8.2 million (2014 – $2.6 million).

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