Resource World Magazine

30 www.resourceworld.com F E B R U A R Y / M A R C H 2 0 1 9 2018 with yet another record quarter for both production and revenue," O'Flaherty said. "A number of our assets had positive news this quarter, highlighted by RNC Minerals' discovery at the Beta Hunt Mine in Australia," he said. Here is a list of other companies that use either the royalty or streaming business model or both. Osisko Gold Royalties Ltd. [OR-TSX, NYSE; OKSKF-OTC] emerged as a world- class gold-focused royalty and streaming company in July, 2017 after the company completed the acquisition of a high-qual - ity precious metals portfolio of assets from Orion Mine Finance Group. The portfolio consisted of 74 royalties, streams and precious metal offtakes for a total consideration of $1.125 billion. Following the acquisition, Osisko holds over 130 royalties and precious metal off - takes, including its cornerstone 5% net smelter return royalty on the Malartic gold mine in Québec, which ranks as Canada's largest producing gold mine, and a 2% to 3.5% net smelter royalty on the Éléonore gold mine. Osisko also owns a portfolio of publicly held resource compa - nies, including a 15.5% interest in Osisko Mining Inc. [OSK-TSX], a 33.4% interest in Barkerville Gold Mines Ltd. [BGM- TSXV], and a 12.7% interest in Falco Resources Ltd. [FPC-TSXV]. Franco-Nevada Corp. [FNV-TSX, NYSE] is a leading, gold-focused, royalty and streaming company with the largest and most diversified portfolio of cash-flow producing assets by commodity, geogra - phy, revenue type and stage of project. The Toronto-based company says it strives to generate 80% of revenue from precious metals over a long-term horizon, which includes gold, silver and platinum group metals. The portfolio still includes a 2-4% net smelter return royalty (NSR) and 2.4- 6% net profits interest (NPI) in Barrick Gold's Goldstrike complex in Nevada. In the last three years, those royalties deliv - ered total revenue of US$63.1 million to Franco-Nevada. In the past 18 months, Franco-Nevada has invested over US$1 billion to expand its portfolio using available cash on hand and its strong free cash flow. Having increased its investment in the Cobre Panama Project in Panama in 2017 and 2018, the company says this investment will generate further growth for Franco-Nevada as production ramps up, starting in 2019. Ely Gold Royalties Inc. [ELY-TSXV; ELYGF-OTC] is an emerging company that operates with an organic model that involves the staking and sale of proper - ties and the retention of royalty interests following the sale of the properties. Its portfolio includes 77 properties, mostly located in Nevada, and 27 royalties. Ely Gold began life as an exploration company. When it sold its Mt. Hamilton Project in Nevada to a subsidiary of Waterton Precious Metals Fund 11 Cayman LP in July, 2015, MINING

• Cover