OR Royalties to Spend $168 Million Consolidating Spring Valley Royalties in Nevada
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OR Royalties ( (TSE:OR) ) has provided an update.
On February 24, 2026, OR Royalties Inc. announced a definitive agreement to acquire Terraco Gold Corp., a subsidiary of Sailfish Royalty, for $168 million in cash, adding a suite of net smelter return royalties largely over the Spring Valley Gold Project in Pershing County, Nevada. The deal, expected to close in the first half of 2026 pending TSX Venture Exchange and customary approvals, will give OR Royalties a combined 6.0% NSR on the Schmidt Claims, 4.0% on Additional Royalty Areas, 1.0% on a perimeter zone, and 2.0% on the adjacent Moonlight property.
The transaction deepens OR Royalties’ exposure to a fully permitted, construction-ready, heap-leach gold project with 3.88 million ounces of reserves, more than 10 years of mine life and projected average output above 300,000 ounces a year at about $1,103 per ounce all-in sustaining costs. By consolidating royalty interests on what it describes as Nevada’s next large-scale, low-cost gold mine, the company reinforces its precious-metals focus and peer-leading five-year gold-equivalent ounce growth profile, with production from Spring Valley expected to start in 2028 and to begin contributing to OR Royalties’ revenue thereafter.
The most recent analyst rating on (TSE:OR) stock is a Hold with a C$64.00 price target. To see the full list of analyst forecasts on OR Royalties stock, see the TSE:OR Stock Forecast page.
Spark’s Take on TSE:OR Stock
According to Spark, TipRanks’ AI Analyst, TSE:OR is a Outperform.
The score is driven primarily by strong 2025 financial performance (high margins, improved earnings and cash generation, near-zero leverage) and a constructive longer-term technical trend. This is tempered by a rich valuation (high P/E and low yield) and earnings-call risks around GEO shortfalls, project timing uncertainty, and challenges securing new deals.
To see Spark’s full report on TSE:OR stock, click here.
More about OR Royalties
OR Royalties Inc. is a precious metals royalty and streaming company focused on Tier-1 mining jurisdictions, namely Canada, the United States and Australia. Founded in 2014 with a single producing asset, it now holds more than 195 royalties, streams and similar interests, anchored by a 3–5% net smelter return royalty on Agnico Eagle Mines’ Canadian Malartic Complex in Québec, one of the world’s largest gold mines.
Average Trading Volume: 467,945
Technical Sentiment Signal: Buy
Current Market Cap: C$11.21B
See more data about OR stock on TipRanks’ Stock Analysis page.
