Derek Macpherson

Derek Macpherson asked for clarification on OR Royalties' 2030 GEO guidance, noting it came in below his expectations. He specifically inquired about the expected quantum of GEOs from Cascabel, Eagle, and Upper Beaver in 2031 and beyond, and whether the 2030 number includes minimum payments from Cascabel.

Answer

CEO Jason Attew confirmed that the 2030 guidance does include minimum payments from Cascabel. He directed to slide 13 of the presentation, indicating that the aggregate optionality from Cascabel, Eagle, and Upper Beaver could contribute an additional 20,000-30,000 gold equivalent ounces in aggregate beyond the 2030 outlook.

Derek Macpherson from TD Securities asked about Osisko Gold Royalties' 2030 guidance, noting it was below his estimates. He sought clarification on the expected quantum of GEOs from Cascabel, Eagle, and Upper Beaver in 2031 and beyond, and whether the 2030 outlook includes minimum payments from Cascabel.

Answer

Jason Attew, CEO of Osisko Gold Royalties, confirmed that the 2030 outlook does include minimum payments from Cascabel. He directed to slide 13 of the presentation, indicating that the aggregate optionality from Cascabel, Eagle, and Upper Beaver could add another 20,000-30,000 gold equivalent ounces beyond 2030.