Orogen Royalties Inc. (CVE:OGN) shares commenced trading on Thursday on the TSX Venture Exchange under the symbol OGN after the merger of Evrim Resources Corp. (CVEEVM) and Renaissance Gold Corp. (CVE:REN) completed on August 18, 2020.
Orogen said its mission is to create and acquire precious metal royalties using its strengths as a prospect generator as well as established business relationships across the mining industry. Organic royalty creation will be driven by existing joint ventures and alliances, and through generative exploration that leads to new opportunities to create value for Orogen's shareholders and its exploration partners – a hallmark of Evrim and Renaissance that has existed for over a decade.
Strategic royalty acquisition will be supported by Orogen's industry knowledge coupled with geological expertise related to projects and critical types of deposit, it added.
Underpinning Orogen's strategic royalty focus are two organically created cornerstone assets: a 2% net smelter return royalty (NSR) on the Ermitaño West gold-silver deposit in Sonora, Mexico where production by First Majestic Silver Corp. is slated to begin in 2021, and a 1% NSR on the Silicon gold property in the Bare Mountain district of Nevada, USA, that is currently being explored by AngloGold Ashanti, NA.
In addition, the company has eight early-stage royalty assets in Mexico, Nevada, and Argentina and a broad portfolio of exploration projects in Canada, USA, and Mexico.
In a statement, Orogen CEO, Paddy Nicol commented: "Creating royalties organically through joint ventures and alliances represents the most elegant form of royalty creation.”
"Our intellectual investment into these projects is high while our cash outlay remains modest, and exploration success can lead to highly rewarding valuation events for our shareholders. The business relationships that have been forged by Evrim and Renaissance allow Orogen to be strategic and guided in its efforts to acquire royalties from mining companies and other entities," he added.
Orogen Royalties is building on the history of both Evrim and Renaissance, but with a renewed focus on organic royalty creation and royalty acquisition. The company is well financed with several project under active joint ventures and alliances.
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