# EDGAR Filing Document

**Accession Number:** 0001627272
**File Stem:** 0001171843-25-006314
**Filing Date:** 2025-10
**Character Count:** 15997
**Document Hash:** 09ef5d09b53d8afe449e14f5f92e0714
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171843-25-006314.hdr.sgml**: 20251007

**ACCESSION NUMBER**: 0001171843-25-006314

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20251007

**FILED AS OF DATE**: 20251007

**DATE AS OF CHANGE**: 20251007

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OR Royalties Inc.
- **CENTRAL INDEX KEY:** 0001627272
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37814
- **FILM NUMBER:** 251378244

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 1100 AVENUE DES CANADIENS-DE-MONTREAL
- **STREET 2:** SUITE 300
- **CITY:** MONTREAL
- **PROVINCE COUNTRY:** A8
- **BUSINESS PHONE:** 514-940-0670

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 1100 AVENUE DES CANADIENS-DE-MONTREAL
- **STREET 2:** SUITE 300
- **CITY:** MONTREAL
- **PROVINCE COUNTRY:** A8

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Osisko Gold Royalties LTD
- **DATE OF NAME CHANGE:** 20141205

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of October 2025**

Commission File Number: **001-37814**

**OR Royalties Inc.**

(Translation of registrant's name into English)

**1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, QC H3B 2S2** 

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [ ] &nbsp;&nbsp;&nbsp;&nbsp; Form 40-F [ X ]

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**EXHIBIT INDEX**

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| | |
|:---|:---|
| <u>**Exhibit**</u> |  |
| [99.1](exh_991.htm) | [Press Release dated October 7, 2025](exh_991.htm) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  |  | <u>OR Royalties Inc.</u> |
|  |  | (Registrant) |
| Date: October 7, 2025 | By: | /s/ JASON ATTEW |
|  |  | JASON ATTEW |
|  | Title: | PRESIDENT AND CEO |

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## Exhibit 99.1

**EXHIBIT 99.1**

**Or Royalties Announces Preliminary Q3 2025 Geo Deliveries Along With Record Quarterly Revenues**

**Revolving Credit Facility Fully Repaid and Undrawn**

MONTRÉAL, Oct. 07, 2025 (GLOBE NEWSWIRE) -- OR Royalties Inc. ("**OR Royalties**" or the "**Company**") (OR: TSX & NYSE) is pleased to provide an update on its third quarter 2025 preliminary deliveries, revenues and cash margin, as well as on its cash and debt positions as at September 30<sup>th</sup>, 2025. All monetary amounts included in this report are expressed in United States dollars, unless otherwise noted.

**PRELIMINARY Q3 2025 RESULTS**

OR Royalties earned 20,326 attributable gold equivalent ounces<sup>1</sup> ("GEOs") in the third quarter of 2025.

OR Royalties recorded preliminary revenues from royalties and streams of $71.6 million during the third quarter, a quarterly record, and preliminary cost of sales (excluding depletion) of $2.4 million, resulting in a quarterly cash margin<sup>2</sup> of approximately $69.3 million (96.7%).

As at September 30<sup>th</sup>, 2025, OR Royalties' cash position was approximately $57.0 million, following repayment of the outstanding balance on the Company's revolving credit facility ($35.4 million) during the third quarter. Therefore, OR Royalties' revolving credit facility of $650.0 million (plus the uncommitted accordion of $200.0 million) was entirely undrawn as at the end of the third quarter.

**Q3 2025 RESULTS CONFERENCE AND WEBCAST CALL DETAILS**

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| | |
|:---|:---|
| Results Release: | Wednesday, November 5<sup>th</sup>, 2025 after market close<br>|
| Conference Call: | Thursday, November 6<sup>th</sup>, 2025 at 10:00am ET<br>|
| Dial-in Numbers:<br>**(Option 1)** | North American Toll-Free: 1 (800) 717-1738<br>Local – Montreal: 1 (514) 400-3792<br>Local – Toronto: 1 (289) 514-5100<br>Local – New York: 1 (646) 307-1865<br>Conference ID: 08442<br>|
| Webcast link:<br>**(Option 2)<br>**  | https://viavid.webcasts.com/starthere.jsp?ei=1738147&tp_key=0e761fc1ca<br>|
| Replay (available until Saturday, December 6<sup>th</sup>, 2025 at 11:59pm ET): | North American Toll-Free: 1 (888) 660-6264<br>Local – Toronto: 1 (289) 819-1325<br>Local – New York: 1 (646) 517-3975<br>Playback Passcode: 08442#<br>|
|  | Replay also available on our website at www.ORroyalties.com<br>|

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**OR ROYALTIES' ANALYST & INVESTOR DAY 2025 DETAILS**

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| |
|:---|
| In-Person: |
| Live Webcast: Monday, November 10<sup>th</sup>, 2025 at 1:00pm ET<br>Please RSVP to gmoenting@orroyalties.com as the Live Webcast details will be provided to interested parties closer to the event. A recording of the Webcast will also be made available at www.ORroyalties.com shortly after the event.<br>|

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<u>Notes</u>

The figures presented in this press release, including the cash and debt balances, and the revenues and costs of sales, have not been audited and are subject to change. As the Company has not yet finished its quarter end procedures, the anticipated financial information presented in this press release is preliminary, subject to quarter end adjustments, and may change materially.

(1) <u>Gold Equivalent Ounces</u>

GEOs are calculated on a quarterly basis and include royalties and streams. Silver and copper earned from royalty and stream agreements are converted to gold equivalent ounces by multiplying the silver ounces or copper tonnes earned by the average silver price or copper price for the period and dividing by the average gold price for the period. Cash royalties and other metals and commodities are converted into gold equivalent ounces by dividing the associated revenue earned by the average gold price for the period.

<u>Average Metal Prices</u> 

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| | | |
|:---|:---|:---|
| Three months ended <br>September 30 | Three months ended <br>September 30 | Three months ended <br>September 30 |
|  | 2025 | 2024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gold <sup>(i)</sup> | $3457 | $2474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silver <sup>(ii)</sup> | $39.40 | $29.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Copper <sup>(iii)</sup> | $9797 | $9210 |

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&nbsp;&nbsp;&nbsp;&nbsp;(i) The London Bullion Market Association's pm price in U.S. dollars per ounce.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) The London Bullion Market Association's price in U.S. dollars per ounce.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) The London Metal Exchange's price in U.S. dollars per tonne.

(2) <u>Non-IFRS Measures</u>

Cash margin in dollars and in percentage of revenues are non-IFRS financial measures. Cash margin (in dollars) is defined by OR Royalties as revenues less cost of sales (excluding depletion). Cash margin (in percentage of revenues) is obtained by dividing the cash margin (in dollars) by the revenues.

Management uses cash margin in dollars and in percentage of revenues to evaluate OR Royalties' 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 OR Royalties' 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 (in thousands of dollars and in percentage of revenues) is presented below:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Three months ended <br>September 30 | &nbsp;&nbsp;&nbsp;&nbsp;Three months ended <br>September 30 | &nbsp;&nbsp;&nbsp;&nbsp;Three months ended <br>September 30 |
|  | 2025 | 2024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues | $71625 | $41977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Cost of sales (excluding depletion) | (2367) | (1570) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash margin (in dollars) | $69258 | $40407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash margin (in percentage of revenues) | 96.7% | 96.3% |

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**About OR Royalties Inc.**

OR Royalties is a precious metals royalty and streaming company focused on Tier-1 mining jurisdictions defined as Canada, the United States, and Australia. OR Royalties commenced activities in June 2014 with a single producing asset, and today holds a portfolio of over 195 royalties, streams and similar interests. OR Royalties' portfolio is anchored by its cornerstone asset, the 3-5% net smelter return royalty on Agnico Eagle Mines Limited's Canadian Malartic Complex, one of the world's largest gold mines.

OR Royalties' head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.

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| | |
|:---|:---|
| **For further information, please contact OR Royalties Inc.:** | **For further information, please contact OR Royalties Inc.:** |
| Grant Moenting<br>Vice President, Capital Markets<br>Tel: (514) 940-0670 x116<br>Cell: (365) 275-1954 <br>Email: gmoenting@orroyalties.com<br>| Heather Taylor<br>Vice President, Sustainability and Communications<br>Tel: (647) 477-2087<br>Email: htaylor@orroyalties.com |

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***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 preliminary financial information may be subject to quarter-end adjustments, and the availability of the uncommitted accordion of the credit facility. 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 OR Royalties, 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 OR Royalties 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 Mineral Resource Estimates or production forecasts by operators, (d) differences in conversion rate from Mineral Resources to Mineral Reserves and ability to replace Mineral 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 OR Royalties, (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 OR Royalties 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 OR Royalties' 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 OR Royalties, (b) the integration of acquired assets or (c) the determination of OR Royalties' 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 OR Royalties' 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 OR Royalties 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 OR Royalties filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov which also provides additional general assumptions in connection with these statements. OR Royalties 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. OR Royalties 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. These statements speak only as of the date of this press release. OR Royalties 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.*