Orogen Royalties Inc

OGN

Orogen Royalties Inc. operates as a mineral exploration company in Canada, the United States, and Mexico. The company operates through two segments, Mineral Royalties and Mineral Exploration Project Generation. It has a portfolio of gold, copper, silver, and precious and base metal royalty projects. The company holds interest in the La Verdad epithermal gold-silver project in Durango, Mexico. It has an option to acquire the Lemon Lake property; the Ecru project; the Manhattan Gap; the South Gilbert; the Kalium Canyon project; and the Ghost Ranch project. The company was formerly known as Evrim Resources Corp. and changed its name to Orogen Royalties Inc. in August 2020. Orogen Royalties Inc. was incorporated in 2005 and is headquartered in Vancouver, Canada.

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Analysis

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Financials

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Asset Pipeline

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Jurisdiction exposure, project portfolio, cost structure.

Information

Key Information

Legal Entity

Orogen Royalties Inc

Sector

Precious Metal

Founded

January 28, 2011

Reporting Currency

CAD

Website

www.orogenroyalties.com

Headquarters Address

510 West Hastings Street , Vancouver , BC V6B 1L8 , CA

Identifiers

ISIN

CA6870801017

Commodity Portfolio

AU Gold Primary

AG Silver Secondary

Stock Exchanges

OGN TSXV • CAD

OGN:CVE

OGNNF OTC • USD

OGNNF:OTCMKTS

Organization

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Management team and industry partnerships.

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Videos

Adrian Day: Broken Bond Market

Mining Network

14 days ago 37:44

Key Highlights

detailed

The guest, a longtime large shareholder, argues Orogen's C$30 million in cash plus royalty cash flow leave it able to avoid raising money again — ending the dilution that normally burdens junior explorers.
Last year it sold its Silicon deposit royalty to Triple Flag in a deal structured with a spin-off for tax reasons; AngloGold Ashanti has since taken over the project, where the guest puts the resource near 20 million ounces.
It collects royalty cash flow from the Ometeño mine, First Majestic's flagship mine in Mexico, which the guest cites as the other pillar of its strong balance sheet.
The guest says the balance sheet now lets it diversify beyond prospect generation: a recently purchased Nevada project it plans to option out, and a $500,000 three-year stake in an Irish-run prospect generator active in Norway and Finland.
The stock has risen from about $30 last year to over $50, but the guest cautions investors never to confuse price with value and says he wants to buy more.

Adrian Day argues the 30-year Treasury near 5.5% shows the bond market is close to broken, with too few buyers willing to lend long term. Gold is holding up against a strong dollar, rising oil and higher yields — which he reads as confirmation that the bond market is strained. He expects the Fed to become buyer of last resort for Treasuries, a step he says would be inflationary and justify gold ownership. Beaver Creek mining companies are well cashed up and senior producers are again eyeing early-stage projects, without the reckless 2011-era deal-making. He discloses a long position in Origin Royalties, a junior with cash and a royalty (a revenue share) that avoids dilution.

Two Jurisdictions, One Thesis: Inside Toogood Gold's ($TGC | $TGGCF) High-Grade Discovery Strategy

Investor TV

21 days ago 1:00:32

Key Highlights

detailed

Orogen, together with Altius, identified Table Mountain through its generative alliance using a roughly 200,000-square-kilometer AVIRIS spectral survey, and CEO Colin Smith says the alteration footprint there stood out immediately.
Colin Smith calls Orogen the best project generator focused on the Southwest US, noting its same methodology originally staked AngloGold's Silicone project under its former name, Renaissance Gold.
Orogen originally staked 85 claims at Table Mountain; Toogood later added 99 claims through Orogen, and the option agreement includes equity terms plus an NSR royalty that builds to 2%.
Per management, Orogen (and Altius) typically do not participate in equity placements in deals they have signed, so they are not expected to join the planned raise.

Toogood Gold advances two assets: an undrilled epithermal (near-surface hot-water) gold-silver system at Table Mountain, Nevada, and the Quinlan discovery in Newfoundland. Independent epithermal expert Stuart Simmons placed the gold-precipitating boiling horizon 50 to 200 meters below surface exposure, guiding shallow first drilling. Mapping defined multi-kilometer Widowmaker and Pacifico vein structures with property-wide boiling textures and surface rock samples running anomalous to multi-gram gold. Newfoundland's Quinlan zone shows visible gold in roughly half of early holes, surface grades to 76.89 g/t (grams per tonne), and stays open. A 3,000-5,000 meter maiden drill program could start in Q4 once permits land, funded from treasury plus a planned $2.5-3 million raise.

Barrick–Newmont Nevada JV, Permitting Risk, Royalties, and Mine Financing | Analyst Joe Mazumdar

MiningStockEducation.com

28 days ago 51:52

Key Highlights

detailed

The guest calls Orogen (named 'Origin Royalties' in the audio) one of the best returns he has made — about a 15-bagger on one position and roughly 8x on another, held since 2009 and 2012 — crediting management that kept dilution minimal and never returned to the equity market, with no ATM or base shelf.
Per the guest, Orogen ran a tight prospect-generator model — option out projects, keep only 1-2% NSRs — and became cash-flowing after acquiring a 2% NSR on Ermitano, a First Majestic asset in Mexico, which let it fund itself without issuing shares.
Its 1% NSR covered what became a roughly 20 million ounce oxide deposit in Nevada operated by AngloGold Ashanti, so AngloGold's news flow drove Orogen's valuation even before the royalty paid.
The guest says Orogen sold the royalty to a larger royalty company for a liquidity event before production — 'nirvana' in his words — and he still holds the position in case the team does it again.

Barrick is selling Fourmile at a steep discount, but access to permitted autoclave (pressure oxidation) capacity via Goldrush justifies it. Seabridge's KSM court setback shows Indigenous consultation now extends beyond a project's footprint, raising permitting risk across British Columbia. Major gold producers returned roughly 30% of first-half 2026 revenue to shareholders, with buybacks outpacing dividends and the top five dominating. Judge management on per-share value: grow assets without growing the share count, and favor teams that raise capital at rising prices. Coffee's upfront capital quadrupled in a decade, reinforcing the case for hunting fatal flaws early — cutoff grades, jurisdictions, and site visits.

Lab Report | Aug 20 Daily Market Overview & Deep Dive on Athena, Mackay, Orogen, Sirios

CEO.CA

about 2 months ago 53:30

Key Highlights

detailed

Orogen's new deal is a 2% net smelter royalty on the high-grade Haldane silver project in the Yukon, owned by Silver North; the host highlights that the royalty is uncapped with no buy-downs, so Orogen keeps the full 2%.
Haldane has been progressively drilled since 2019, with reported highlights including 818 g/t silver over 1.5 m and a hole carrying more than a kilogram of silver plus high-grade lead-zinc over 5.2 m, and management cites Keno-style vein targets with potential for new blind discoveries.
Orogen grew out of a royalty on Anglo's Merian discovery in Nevada, which it sold before spinning off its remaining assets into the current company; the host credits operator Patty Nickel with a geologist's background rather than the accountant-and-lawyer profile he sees at most royalty shops.
At roughly a $273M valuation, Orogen already collects a significant cash-flowing royalty from the Hermano mine in New Mexico; the host expects the stock to go up from here, while noting a thin buy side and only about 19,000 shares of average daily volume.

Athena Gold's new Red Lake hit of 23.85 g/t (grams per tonne) over 5 metres, near surface, is the standout result. The host reads Sirios' 2.4 g/t over 48.5 metres at Cheech as high-grade shoots being tested beneath the open pit. Mackay Gold & Silver adds a core rig to test the historic Sutro tunnel intersection on the Comstock, Nevada, inside a 20,000-metre program. Orogen Royalties adds a 2% net smelter royalty on the Haldane silver project, and the host prefers its geologist-led model. With bond yields at multi-year highs and debt near $40 trillion, the host says all roads lead to gold, now above its 200-day average.

Lab Report | July 27 Daily Market Overview

CEO.CA

3 months ago 18:19

Key Highlights

brief

Referred to in the transcript as "Origin Royalties" and announced as one of three companies getting its own deep-dive show; no royalty-specific news, deal or figures are given in this July 27, 2026 overview.

Laboucan's core call: constrained supply meets strong demand across gold, silver and copper, and mining equities still reflect neither. Silver's run from roughly $35 to over $100 an ounce, with production below demand for six straight years, underpins the bullish silver-miner case. Copper demand from AI data centers, EVs and grid rebuilds keeps outrunning new mine supply, with few projects reaching production in one to three years. Bond prices sit at a yearly low after a death cross while yields hit yearly highs, and balance-sheet easing is running past its stated term. Algorithm-driven trading chases the daily news cycle and misses structural supply changes, such as Middle East conflict damage to oil output.

Adrian Day Reveals His 3 Biggest Mining Positions Right Now

Mining Network

3 months ago

Key Highlights

brief

Day identifies Orogen Royalties (OGN, Vancouver) as one of three positions each worth more than 10% of assets in the accounts he manages, alongside Altius Minerals and Lara Exploration.
He says none of those three positions is one he is even dreaming of selling.

Adrian Day sees gold retesting its lows, possibly toward $3,600, if the Federal Reserve hikes rates before the midterms. Because a rate hike is already priced in, he argues any macro surprise for gold can only resolve in one direction. Headline unemployment understates labour market slack: roughly 11 million people want full-time work but are not counted as unemployed. Altius Minerals, Lara Exploration and Orogen Royalties each exceed 10% of his fund's assets, with cash held ready to buy dips. He expects mid-tier miners, not the majors, to drive the next wave of mining M&A, with Barrick's African assets spun out or sold.

Paddy Nicol, CEO & President of Orogen Royalties | Rule Symposium 2026: Rick Rule interviews

Rule Investment Media

5 months ago

Key Highlights

detailed

Nicol says Orogen's model is proven by its numbers: about $225,000 invested in Silicon led to a share of a $421 million AngloGold sale, and roughly $150,000 spent generating Ermitaño has produced over $25 million in royalty revenue to date.
Nicol says the prior year brought just over $13 million of revenue — about $9.5 million from royalties (mostly Ermitaño) and over $3 million from prospect generation — and because the prospect generator operates at a profit, its royalties are effectively created for free.
Nicol puts the market cap around $200 million as of the May 2026 interview, with no debt, and values the Ermitaño royalty at roughly half of that, about $100–110 million, with mine life now eight to 10 years versus seven in 2021.
Nicol says 14 partner-funded drill programs are running on Orogen projects this year — none funded by Orogen — representing an estimated $50–75 million of spending, with partners having raised over $100 million in the prior six months.
Nicol says Orogen only generates its own royalties rather than buying them: it spends roughly $150,000–200,000 per project, sells to partners for cash and share payments, and clips a royalty with full lifecycle exposure and limited downside, aided by data alliances with Altius Minerals, Triple Flag and others.

Orogen's prospect generator turned a $225,000 investment in the Silicon royalty into a $421 million sale to AngloGold Ashanti, Nicol explains. The Ermitaño royalty in Sonora has paid over $25 million on a $150,000 generative cost and now sustains the company. Nicol says the prospect generator must operate profitably on its own, so royalty revenue never funds high-risk exploration and royalties are created for free. Hyperspectral analysis (satellite imaging that maps surface alteration) spotted a 10-million-ounce Nevada gold deposit earlier prospecting had missed. Partners raised over $100 million to fund 14 drill programs worth $50-75 million on Orogen ground this year, giving royalty exposure without funding them.

Zach Flood, CEO of Kenorland Minerals | Rule Symposium 2026: Rick Rule interviews

Rule Investment Media

5 months ago

Key Highlights

brief

Flood says the partner on South Uchi is earning a 70% interest, while Kenorland holds a large equity position and a 2% net smelter return royalty.
He says the Phase 3 program tested a new area of a large gold system and that assays were pending as of May 2026.

Kenorland uses partner-funded exploration to test more targets while retaining minority interests and royalties, reducing shareholder dilution from high-risk grassroots work. Its project-generation model produced the Renault discovery in northern Quebec, where Sumitomo spent about $20 million before taking ownership. Three partner-funded Ontario and James Bay drill programs provide near-term discovery exposure, though key assays and follow-up results remain pending. Management argues repeated target generation matters because most grassroots exploration fails, making portfolio scale central to controlling risk. Kenorland's retained Renault royalty remains the main value driver, with deeper step-out drilling intended to test whether the gold system expands.

Jordan aka Mining Stock Monkey – Devon, Rupert, Royal Gold, Altius Minerals, Elemental, and Orogen

The KE Report

6 months ago

Jordan discusses royalty and streaming companies including Royal Gold, Altius Minerals, and Elemental Altus as portfolio foundation plays Rupert Resources highlighted as a compelling gold explorer with significant upside potential in the current market environment Orogen Royalties and Devon resources mentioned as speculative opportunities for risk-tolerant mining investors

Articles

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Origin Royalties: The Junior Adrian Day Says Never Needs to Raise Money Again

Adrian Day named Origin Royalties the standout story of the Precious Metals Summit: a prospect generator holding C$30 million in cash plus royalty cash flow from First Majestic's Ometeño mine, which he argues means it never needs to raise money — or dilute shareholders — again. He cautions investors not to read the stock's climb from about $30 to over $50 as a reason to dismiss it.

14 days ago

Adrian Day: Broken Bond Market

Read article

Orogen Royalties Turns $375,000 of Exploration Into a $25 Million Royalty and a $421 Million Exit

In a Rule Symposium interview, Orogen CEO Paddy Nicol detailed how roughly $225,000 spent on Silicon led to a $421 million sale to AngloGold Ashanti, while a $150,000 bet on Ermitaño has paid over $25 million in royalties. He reported just over $13 million of revenue last year, a ~$200 million market cap, no debt, and 14 partner-funded drill programs underway.

5 months ago

Paddy Nicol, CEO & President of Orogen Royalties | Rule Symposium 2026: Rick Rule interviews

Read article

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