Arizona Tribune - Orogen Posts Profitable Financial Results and Cash Flow Strength in Q3-2025

Q3-2025 Highlights

All amounts are in Canadian dollars unless otherwise stated.

• Net Income Before Tax: The Company reported net income before tax of $1.32 million for the quarter ended September 30, 2025, compared to $0.25 million in Q3-2024.

• Net Comprehensive Income: After recording an income tax expense of $0.67 million (Q3-2024 - $0.61 million), the Company posted a net comprehensive income of $0.65 million (Q3-2024 - loss of $0.36 million).

• Royalty Revenue: Royalty revenue totaled $2.3 million (Q3-2024 - $2.1 million), up 9% from the prior year, generated from the sale of 481 attributable gold equivalent ounces ("GEOs") (Q3-2024 - 614 GEOs) at an average realized price of US$3,456 per ounce (Q3-2024 - US$2,474). GEO's reflect a decrease of 28% year-over-year and an increase of 3% quarter-over-quarter.

• G&A Expenses: General and administrative expenses were $1.37 million (Q3-2024 - $1.05 million), up 30% year-over-year. The increase reflects an unrealized foreign exchange loss and additional legal, regulatory, and corporate costs following the July 9, 2025, Plan of Arrangement with Triple Flag Precious Metals.

• Cash flow: Year-to-date cash flow from operating activities was $2.19 million (Q3-2024 - $2.6 million). Excluding changes in non-cash working capital, operating cash flow was $3.2 million (Q3-2024 - $3.14 million), up 3% year-over-year.

• Working Capital: As of September 30, 2025, the Company had working capital of $21.64 million, down from $26.8 million at the beginning of the fiscal year. The Company remains debt-free with no long-term liabilities.

"Year-to-date, we have executed more than six transactions, established five new royalties, and advanced four partner funded alliances, strengthening the foundation of our growth strategy. Our third-quarter results highlight the resilience and scalability of our business model. With a strong working capital position, we are well positioned to expand our royalty portfolio and pursue opportunities that drive sustainable, long-term value for shareholders." said, Paddy Nicol, CEO of Orogen Royalties

For complete details of the Company's financial results, please refer to the condensed consolidated interim financial statements and MD&A for the nine-month period ended September 30, 2025, and 2024. The Company's filings are available on SEDAR+ at www.sedarplus.ca and on Orogen's website at www.orogenroyalties.com. Please also see non-IFRS Measures at the end of this news release.

Summary of Results

Ermitaño Royalty - Sonora, Mexico

First Majestic Silver Corp. ("First Majestic") operates the Ermitaño gold-silver Mine, where the Company holds a 2.0% net smelter return ("NSR") royalty. For the three-month period ended September 30, 2025, the Company recorded royalty revenue of $2.30 million, up from $2.12 million in the same period in 2024. This revenue reflects the sale of 481 GEOs, compared to 614 GEOs in Q3-2024. During the quarter, 277,858 tonnes of ore were processed, representing a 7% increase compared to Q3-2024. ¹ Average head grades declined, with silver at 71 grams per tonne ("g/t") and gold at 2.56 g/t, an increase of 4% and a decrease of 27%, respectively, in line with First Majestic's mine plan. ^1,2,3 Recovery rates remained consistently strong, with silver at 65% and gold at 92%, compared to 67% and 94%, respectively, in the prior year. ¹

During the quarter, drilling and exploration costs increased by 33% from the same period in 2024, as First Majestic is working to continue to grow and define mineral deposits at Navidad to expand the Mineral Resource and Mineral Reserves base for the Santa Elena operation. ^2,3

Qualified Person Statement

All technical data, as disclosed in this press release, has been reviewed and approved by Laurence Pryer, Ph.D., P.Geo. VP Exploration for the Company. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101.

Certain technical disclosure in this release is a summary of previously released third-party information and the Company is relying on the interpretation provided. Additional information can be found on the links in the footnotes.

About Orogen Royalties Inc.

Orogen Royalties is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. The Company's royalty portfolio includes the Ermitaño gold and silver Mine in Sonora, Mexico (2.0% NSR royalty) operated by First Majestic Silver Corp. The Company is well financed with several projects actively being developed by joint venture partners.

On Behalf of the Board

OROGEN ROYALTIES INC.

Paddy Nicol
President & CEO

To find out more about Orogen, please contact Paddy Nicol, President & CEO at 604-248-8648, and Marco LoCascio, Vice President of Corporate Development at 604-248-8648. Visit our website at www.orogenroyalties.com.

Orogen Royalties Inc.
1015 - 789 West Pender Street
Vancouver, BC
Canada V6C 1H2

Forward Looking Information

This news release includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Orogen Royalties Inc. (the "Company") expect to occur, are forward looking statements. 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" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Except where otherwise stated, the disclosure in this news release relating to properties and operations in which Orogen holds a royalty are based on information publicly disclosed by the owners or operators of these properties and information/data available in the public domain as at the date hereof, and none of this information has been independently verified by Orogen. Specifically, as a royalty holder and prospect generator, the Company has limited, if any, access to properties on which it holds royalty or other interests in its asset portfolio. The Company may from time to time receive operating information from the owners and operators of the mining properties, which it is not permitted to disclose to the public. Orogen is dependent on, (i) the operators of the mining properties and their qualified persons to provide information to Orogen, or (ii) on publicly available information to prepare disclosure pertaining to properties and operations on the properties on which the Company holds royalty or other interests, and generally has limited or no ability to independently verify such information. Although the Company does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. Some reported public information in respect of a mining property may relate to a larger property area than the area covered by Orogen's royalty or other interest. Orogen's royalty or other interests may cover less than 100% of a specific mining property and may only apply to a portion of the publicly reported mineral reserves, mineral resources and or production from a mining property.

Non-IFRS Measures

The Company has included certain results in this news release that do not have any standardized meaning prescribed by International Financial Reporting Standards ("IFRS") including, total GEOs sold, average realized gold price per GEO, working capital, and cash flow from operating activities excluding changes in non-cash working capital adjustments. The Company's royalty revenue is converted to a gold equivalent ounce by dividing the royalty revenue received during the period by the average gold price of the period. The Company uses certain non-IFRS financial measures, including working capital, calculated as current assets minus current liabilities, to assess short-term liquidity and operational efficiency. This measure does not have a standardized meaning under IFRS and may not be comparable to similar measures used by other companies. The Company also uses operating cash flows excluding changes in non-cash working capital, calculated by adjusting cash provided by (used in) operating activities to exclude changes in non-cash working capital. This provides insight into cash flows from core operations.

References

1. https://www.firstmajestic.com/investors/news-releases/first-majestic-produces-7-7-million-ageq-ounces-in-q3-2025-consisting-of-a-record-3-9-million-silver-ounces-and-35681-gold-ounces

2. https://www.firstmajestic.com/investors/news-releases/first-majestic-announces-financial-results-for-q3-2025-and--quarterly-dividend-payment

3. https://www.firstmajestic.com/_resources/financials/2024-Q4-FS-MDA.pdf?v=081806

SOURCE: Orogen Royalties Inc

View the original press release on ACCESS Newswire

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