Latest news with #SableResources
Yahoo
18-07-2025
- Business
- Yahoo
Sable Closes C$1.75 Million Private Placement with Moxico Resources
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, July 18, 2025 (GLOBE NEWSWIRE) -- Sable Resources Ltd. ('Sable' or the 'Company') (TSXV:SAE | OTCQB:SBLRF) announces that further to the Company's news release of July 2, 2025, it has closed its non-brokered private placement with Moxico Resources plc ('Moxico') raising gross proceeds of C$1,749,000 through the issuance of 31,800,000 common shares ('Shares') at a price of C$0.055 per Share (the 'Private Placement'). As a result of the Private Placement, Moxico owns 31,800,000 Shares, which represent approximately 9.9% of Sable's issued and outstanding Shares. Pursuant to the terms of the subscription agreement entered into by the parties in connection with the Private Placement, Sable granted Moxico customary participation and anti-dilution rights which enable Moxico to maintain its pro rata equity interest in the Company for so long as Moxico maintains a minimum ownership threshold. The proceeds from the Private Placement will be used by the Company for exploration and general corporate and working capital purposes. The Shares issued under the Private Placement are subject to a four month hold period from the date of issue in accordance with applicable securities laws. The Private Placement remains subject to final approval of the TSX Venture Exchange ('TSXV'). The TSXV has conditionally approved the listing of all Shares issued under the Private Placement. Moxico is an unlisted public mining company headquartered in the United Kingdom. As previously announced, the Company and its subsidiary entered into a binding letter agreement with Moxico that granted Moxico an exclusive option to acquire 51% of the Company's El Fierro Project and Cerro-Negro Property, subject to certain exploration and expenditure terms. See the Company's press release dated February 27, 2025 for additional details about Moxico and this option transaction. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. ABOUT SABLE RESOURCES LTD. Sable is a well-funded junior grassroots explorer focused on the discovery of Tier-One new precious metal and copper projects through systematic exploration in endowed terranes located in favorable, established mining jurisdictions. Sable's focus is developing its large portfolio of new Greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, and Cerro Negro projects in San Juan province, Argentina and the Copper Queen (15,133 ha), Copper Prince (3,980 ha), and Core Mountain (1,925 ha) properties in British Columbia. For further information, please contact: Ruben Padilla, President & CEO at or +1 (520) 488-2520 Related link: Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of this release. CAUTION REGARDING FORWARD-LOOKING STATEMENTS Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words 'could', 'intend', 'expect', 'believe', 'will', 'projected', 'estimated' and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sable's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Although such statements are based on reasonable assumptions of Sable's management, there can be no assurance that any conclusions or forecasts will prove to be accurate. In particular, this press release contains forward-looking information relating to, among other things, the use of proceed from the Private Placement and the receipt of final approval from the TSXV. While Sable considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks. The forward-looking information contained in this release is made as of the date hereof, and Sable is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained in to access your portfolio
Yahoo
07-05-2025
- Business
- Yahoo
Osisko Reports Q1 2025 Results
Jason Attew, President & CEO of Osisko commented: 'Osisko's first quarter represented a good start for the Company in 2025 and serves as a solid base for Osisko to achieve its 2025 guidance range of 80,000 to 88,000 GEOs earned, especially considering that the Company's GEO deliveries are expected to sequentially improve quarter-by-quarter throughout the remainder of the year ahead. Declaration of a quarterly dividend of US$0.055 per common share, a 20% increase over the previous quarterly dividend, based on the foreign exchange rate (C$/US$) on the declaration date of the first quarter dividend. The dividend will be paid on July 15, 2025 to shareholders of record as of the close of business on June 30, 2025. Acquisition of a basket of royalties across various projects in British Columbia from Sable Resources Ltd. ('Sable Resources') for consideration of C$3.8 million, as well as certain rights in relation to the future acquisition of similar interests from Sable Resources; Declaration of a quarterly dividend of C$0.065 per common share paid on April 15, 2025 to shareholders of record as of the close of business on March 31, 2025. MONTRÉAL, May 07, 2025 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the ' Company ' or ' Osisko ') (OR: TSX & NYSE) today announced its consolidated financial results for the first quarter of 2025. Amounts presented are in United States dollars, except where otherwise noted. Story Continues Looking ahead over the next few months, there are several upcoming catalysts to watch out for, including, but not limited to, Osisko Development's project financing initiatives on the back of last week's Optimized Feasibility Study results for the fully-permitted Cariboo gold project; a new life-of-mine plan at Alamos Gold's Island Gold District; and finally, the anticipated Implementation of the Scheme of Arrangement between Spartan Resources and Ramelius Resources, which, if implemented, could accelerate first production from Dalgaranga to late 2025, a full year ahead of Osisko's expectations when we acquired the Dalgaranga 1.8% gross smelter return royalty in late September of 2024.' Norman MacDonald, Board Chair of Osisko, also commented: 'Tomorrow's Annual and Special Meeting of Shareholders will mark the end of Joanne Ferstman's tenure as an Independent Director on Osisko's Board. Joanne has been on Osisko's Board of Directors from the very beginning, and, as such, both Board and Management would like to wholeheartedly thank Joanne for her many years of leadership, guidance and service. Her attention to detail and dedication to realizing the Company's strategic vision, amongst her many other skills, will be missed. We would also like to wish Joanne all the best in her future endeavours.' Q1 2025 RESULTS CONFERENCE AND WEBCAST CALL DETAILS Conference Call: Thursday, May 8th, 2025 at 10:00 am ET Dial-in Numbers: (Option 1) North American Toll-Free: 1 (800) 717-1738 Local – Montreal: 1 (514) 400-3792 Local – Toronto: 1 (289) 514-5100 Local – New York: 1 (646) 307-1865 Conference ID: 33088 Webcast link: (Option 2) Replay (available until Sunday, June 8th, at 11:59 PM ET): North American Toll-Free: 1 (888) 660-6264 Local – Toronto: 1 (289) 819-1325 Local – New York: 1 (646) 517-3975 Playback Passcode: 33088# Replay also available on our website at Annual and Special Meeting of Shareholders The Company's 2025 Annual and Special Meeting of shareholders will be held on May 8, 2025 in Montréal, Québec. Qualified Person The scientific and technical content of this news release has been reviewed and approved by Guy Desharnais, Ph.D., Vice President, Project Evaluation at Osisko Gold Royalties Ltd, who is a 'qualified person' as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ('NI 43-101'). About Osisko Gold Royalties Ltd Osisko Gold Royalties Ltd is an intermediate precious metal royalty company which holds a North American focused portfolio of over 195 royalties, streams and precious metal offtakes, including 21 producing assets. Osisko's portfolio is anchored by its cornerstone asset, a 3-5% net smelter return royalty on the Canadian Malartic Complex, home to one of Canada's largest gold mines. Osisko's head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2. For further information, please contact Osisko Gold Royalties Ltd: Grant Moenting Vice President, Capital Markets Tel: (514) 940-0670 x116 Cell: (365) 275-1954 Email: gmoenting@ Heather Taylor Vice President, Sustainability and Communications Tel: (514) 940-0670 x105 Email: htaylor@ Notes: (1) Gold Equivalent Ounces GEOs are calculated on a quarterly basis and include royalties and streams. Silver ounces and copper tonnes earned from royalty and stream agreements are converted to gold equivalent ounces by multiplying the silver ounces or copper tonnes by the average silver price per ounce or copper price per tonne for the period and dividing by the average gold price per ounce for the period. Diamonds, other metals and cash royalties are converted into gold equivalent ounces by dividing the associated revenue by the average gold price per ounce for the period. Average Metal Prices and Exchange Rate Three months ended March 31, 2025 2024 Gold (i) $ 2,860 $ 2,070 Silver (ii) $ 31.88 $ 23.34 Copper (iii) $ 9,340 $ 8,438 Exchange rate (C$/US$) (iv) 0.6968 0.7415 (i) The average price represents the London Bullion Market Association's PM price in U.S. dollars per ounce. (ii) The average price represents the London Bullion Market Association's price in U.S. dollars per ounce. (iii) The average price represents the London Metal Exchange's price in U.S. dollars per tonne. (iv) Bank of Canada daily rate. (2) Three months ended March 31, 2024 ('Q1 2024'). (3) Non-IFRS Measures Cash margin Cash margin in dollars and in percentage of revenues are non-IFRS financial measures. Cash margin (in dollars) is defined by Osisko as revenues less cost of sales (excluding depletion). Cash margin (in percentage of revenues) is obtained from the cash margin (in dollars) divided by revenues. Management uses cash margin in dollars and in percentage of revenues to evaluate Osisko's ability to generate positive cash flow from its royalty, stream and other interests. Management and certain investors also use this information, together with measures determined in accordance with IFRS Accounting Standards such as gross margin and operating cash flows, to evaluate Osisko's performance relative to peers in the mining industry who present these measures on a similar basis. Cash margin in dollars and in percentage of revenues are only intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. They do not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. A reconciliation of the cash margin per type of interests (in thousands of dollars and in percentage of revenues) is presented below: Three months ended March 31, 2025 2024 $ $ Royalty interests Revenues 36,790 33,029 Less: cost of sales (excluding depletion) (145 ) (78 ) Cash margin (in dollars) 36,645 32,951 Depletion (2,710 ) (4,104 ) Gross profit 33,935 28,847 Stream interests Revenues 18,126 12,018 Less: cost of sales (excluding depletion) (1,474 ) (1,281 ) Cash margin (in dollars) 16,652 10,737 Depletion (5,034 ) (4,442 ) Gross profit 11,618 6,295 Royalty and stream interests Total cash margin (in dollars) 53,297 43,688 Divided by: total revenues 54,916 45,047 Cash margin (in percentage of revenues) 97.1 % 97.0 % Total – Gross profit 45,553 35,142 Adjusted earnings and adjusted earnings per basic share Adjusted earnings and adjusted earnings per basic share are non-IFRS financial measures and are defined by Osisko by excluding the following items from net earnings (loss) and earnings (loss) per share: foreign exchange gains (losses), impairment charges and reversal related to royalty, stream and other interests, changes in allowance for expected credit losses, write-offs and impairment of investments, gains (losses) on disposal of assets, gains (losses) on investments, share of income (loss) of associates, transaction costs and other items such as non-cash gains (losses), as well as the impact of income taxes on these items. Adjusted earnings per basic share is obtained from the adjusted earnings divided by the weighted average number of common shares outstanding for the period. Management uses adjusted earnings and adjusted earnings per basic share to evaluate the underlying operating performance of Osisko as a whole for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its consolidated financial statements. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards such as net earnings (loss) and net earnings (loss) per basic share, investors and analysts use adjusted earnings and adjusted earnings per basic share to evaluate the results of the underlying business of Osisko, particularly since the excluded items are typically not included in Osisko's annual guidance. While the adjustments to net earnings (loss) and net earnings (loss) per basic share in these measures include items that are both recurring and non-recurring, management believes that adjusted earnings and adjusted net earnings per basic share are useful measures of Osisko's performance because they adjust for items which may not relate to or have a disproportionate effect on the period in which they are recognized, impact the comparability of the core operating results from period to period, are not always reflective of the underlying operating performance of the business and/or are not necessarily indicative of future operating results. Adjusted net earnings and adjusted net earnings per basic share are intended to provide additional information to investors and analysts and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. They do not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers. A reconciliation of net earnings to adjusted net earnings is presented below: Three months ended March 31, 2025 2024 (in thousands of dollars, except per share amounts) $ $ Net earnings 25,640 11,169 Adjustments: Foreign exchange (gain) loss (160 ) 2,411 Share of loss of associates 3,752 10,053 Changes in allowance for expected credit losses and write-offs - (1,399 ) Loss (gain) on investments 286 (388 ) Tax impact of adjustments (41 ) 136 Adjusted earnings 29,477 22,032 Weighted average number of common shares outstanding (000's) 186,979 185,761 Adjusted earnings per basic share 0.16 0.12 Forward-Looking Statements Certain statements contained in this press release may be deemed 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking statements are statements other than statements of historical fact, that address, without limitation, future events, that Osisko will meet its guidance estimate, that development and milestones to be achieved by operators of the properties in which the Company holds interest will be achieved in a timely manner. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential', 'scheduled' and similar expressions or variations (including negative variations), or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, most of which are beyond the control of Osisko, and actual results may accordingly differ materially from those in forward-looking statements. Such risk factors include, without limitation, (i) with respect to properties in which Osisko holds a royalty, stream or other interest; risks related to: (a) the operators of the properties, (b) timely development, permitting, construction, commencement of production, ramp-up (including operating and technical challenges), (c) differences in rate and timing of production from resource estimates or production forecasts by operators, (d) differences in conversion rate from resources to reserves and ability to replace resources, (e) the unfavorable outcome of any challenges or litigation relating title, permit or license, (f) hazards and uncertainty associated with the business of exploring, development and mining including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding and other natural disasters or civil unrest or other uninsured risks, (ii) with respect to other external factors: (a) fluctuations in the prices of the commodities that drive royalties, streams, offtakes and investments held by Osisko, (b) a trade war or new tariff barriers, (c) fluctuations in the value of the Canadian dollar relative to the U.S. dollar, (d) regulatory changes by national and local governments, including permitting and licensing regimes and taxation policies, regulations and political or economic developments in any of the countries where properties in which Osisko holds a royalty, stream or other interest are located or through which they are held, (e) continued availability of capital and financing and general economic, market or business conditions, and (f) responses of relevant governments to infectious diseases outbreaks and the effectiveness of such response and the potential impact of such outbreaks on Osisko's business, operations and financial condition; (iii) with respect to internal factors: (a) business opportunities that may or not become available to, or are pursued by Osisko, (b) the integration of acquired assets or (c) the determination of Osisko's PFIC status (d) that preliminary financial information may be subject to quarter end adjustments. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the absence of significant change in Osisko's ongoing income and assets relating to determination of its PFIC status, and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended and, with respect to properties in which Osisko holds a royalty, stream or other interest, (i) the ongoing operation of the properties by the owners or operators of such properties in a manner consistent with past practice and with public disclosure (including forecast of production), (ii) the accuracy of public statements and disclosures made by the owners or operators of such underlying properties (including expectations for the development of underlying properties that are not yet in production), (iii) no adverse development in respect of any significant property, (iv) that statements and estimates relating to mineral reserves and resources by owners and operators are accurate and (v) the implementation of an adequate plan for integration of acquired assets. For additional information on risks, uncertainties and assumptions, please refer to the most recent Annual Information Form of Osisko filed on SEDAR+ at and EDGAR at which also provides additional general assumptions in connection with these statements. Osisko cautions that the foregoing list of risk and uncertainties is not exhaustive. Investors and others should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Osisko believes that the assumptions reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be accurate as actual results and prospective events could materially differ from those anticipated such the forward-looking statements and such forward-looking statements included in this press release are not guarantee of future performance and should not be unduly relied upon. In this press release, Osisko relies on information publicly disclosed by other issuers and third parties pertaining to its assets and, therefore, assumes no liability for such third-party public disclosure. These statements speak only as of the date of this press release. Osisko undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law. Osisko Gold Royalties Ltd Consolidated Balance Sheets As at March 31, 2025 and December 31, 2024 (Unaudited) (tabular amounts expressed in thousands of United States dollars) March 31, December 31, 2025 2024 $ $ Assets Current assets Cash 63,070 59,096 Amounts receivable 2,773 3,106 Other assets 1,511 1,612 67,354 63,814 Non-current assets Investments in associates 40,086 43,262 Other investments 85,403 74,043 Royalty, stream and other interests 1,112,393 1,113,855 Goodwill 77,353 77,284 Other assets 6,140 5,376 1,388,729 1,377,634 Liabilities Current liabilities Accounts payable and accrued liabilities 3,923 5,331 Dividends payable 8,457 8,433 Lease liabilities 1,132 852 13,512 14,616 Non-current liabilities Lease liabilities 4,539 3,931 Long-term debt 74,346 93,900 Deferred income taxes 82,438 76,234 174,835 188,681 Equity Share capital 1,680,514 1,675,940 Contributed surplus 65,003 63,567 Accumulated other comprehensive loss (139,637 ) (141,841 ) Deficit (391,986 ) (408,713 ) 1,213,894 1,188,953 1,388,729 1,377,634 Osisko Gold Royalties Ltd Consolidated Statements of Income For the three months ended March 31, 2025 and 2024 (Unaudited) (tabular amounts expressed in thousands of United States dollars, except per share amounts) 2025 2024 $ $ (restated) Revenues 54,916 45,047 Cost of sales (1,619 ) (1,359 ) Depletion (7,744 ) (8,546 ) Gross profit 45,553 35,142 Other operating expenses General and administrative (4,959 ) (4,544 ) Business development (2,079 ) (1,011 ) Operating income 38,515 29,587 Interest income 598 934 Finance costs (1,730 ) (2,767 ) Foreign exchange gain (loss) 160 (2,411 ) Share of loss of associates (3,752 ) (10,053 ) Other (losses) gains, net (286 ) 1,737 Earnings before income taxes 33,505 17,027 Income tax expense (7,865 ) (5,858 ) Net earnings 25,640 11,169 Net earnings per share Basic and diluted 0.14 0.06 Osisko Gold Royalties Ltd Consolidated Statements of Cash Flows For the three months ended March 31, 2025 and 2024 (Unaudited) (tabular amounts expressed in thousands of United States dollars) 2025 2024 $ $ (restated) Operating activities Net earnings 25,640 11,169 Adjustments for: Share-based compensation 2,089 1,567 Depletion and amortization 8,032 8,790 Changes in expected credit loss of other investments - (1,399 ) Share of loss of associates 3,752 10,053 Change in fair value of financial assets at fair value through profit and loss 286 (338 ) Foreign exchange (gain) loss (92 ) 2,437 Deferred income tax expense 7,242 5,463 Other 104 116 Net cash flows provided by operating activities before changes in non-cash working capital items 47,053 37,858 Changes in non-cash working capital items (974 ) (496 ) Net cash flows provided by operating activities 46,079 37,362 Investing activities Acquisitions of short-term investments - (667 ) Acquisitions of investments (11,364 ) - Proceeds from disposal of investments - 3,847 Acquisitions of royalty and stream interests (5,285 ) - Other (17 ) (3 ) Net cash flows (used in) provided by investing activities (16,666 ) 3,177 Financing activities Increase in long-term debt 10,437 - Repayment of long-term debt (30,000 ) (32,394 ) Exercise of share options and shares issued under the share purchase plan 2,587 3,609 Dividends paid (7,610 ) (7,680 ) Withholding taxes on settlement of restricted and deferred share units (653 ) (2,204 ) Other (210 ) (288 ) Net cash flows used in financing activities (25,449 ) (38,957 ) Increase in cash before effects of exchange rate changes 3,964 1,582 Effects of exchange rate changes on cash 10 (682 ) Net increase in cash 3,974 900 Cash – beginning of period 59,096 51,204 Cash – end of period 63,070 52,104
