Osisko Acquires 1.8% Royalty on Dalgaranga Gold Project in Australia

In September 2024, Osisko Gold Royalties Ltd announced a binding agreement to acquire a 1.8% gross revenue royalty on the Dalgaranga Gold Project, operated by Spartan Resources Limited in Western Australia. This acquisition also includes a 1.35% exploration royalty on nearby licenses. The Dalgaranga mill is fully permitted, and approvals for future underground mining are underway, indicating a clear path to near-term production. Spartan is expected to update its Mineral Reserve Estimate and Feasibility Study in the first half of 2025, which will inform its Final Investment Decision to restart operations. The project covers approximately 509 square kilometers and has a significant mineral resource estimate, with high-grade discoveries driving ongoing growth. Osisko anticipates a mine life of over 12 years, with production costs expected to be among the lowest globally due to the high-grade nature of the deposit. Additionally, Spartan has the option to buy back a portion of the royalties until February 2027, which could impact future revenue streams for Osisko. The exploration potential in the surrounding area is also promising, with several advanced properties that could supplement production from Dalgaranga, further enhancing the project's attractiveness in the competitive gold mining sector.