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Commitments | 12 Months Ended
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Dec. 31, 2023
Commitments [Abstract] |
Commitments [Text Block] | 28. Commitments Investments in royalty and stream interests As at December 31, 2023, significant commitments related to the acquisition of royalties and streams are detailed in the following table:
Company | Project (asset) | Installments | Triggering events
Gold Resource Corporation | Back Forty project (gold stream) | US$5.0 million | Receipt of all material permits for the construction and operation of the project.
|  | US$25.0 million | Pro rata to drawdowns with construction finance facility.
Falco Resources Ltd. | Horne 5 project (silver stream) | $45.0 million | Receipt of all necessary material third-party approvals, licenses, rights of way, surface rights on the property and all material construction permits, positive construction decision, and raising a minimum of $100.0 million in non-debt financing.
|  | $60.0 million | Upon total projected capital expenditure having been demonstrated to be financed.
|  | $40.0 million (optional) | Payable with fourth installment, at sole election of Osisko, to increase the silver stream to 100% of payable silver (from 90%).
Offtake and stream purchase agreements The following table summarizes the significant commitments related to producing assets and assets in advance stage of development to pay for gold and silver to which Osisko has the contractual right pursuant to the associated precious metals purchase agreements:
| Attributable payable production to be purchased | Per ounce/carat cash payment (US$) | Term of agreement | Date of contract
Interest | Silver | Other | Silver | Other |  |
CSA streams (1) | 100% | 3.0 - 4.875% (Copper) | 4% | 4% | Life of mine | June 2023
Gibraltar stream (2) | 87.5% |  | nil |  | Life of mine | March 2018 Amended June 2023
Mantos Blancos Stream (3) | 100% |  | 8% spot |  | Life of mine | September 2015 Amended Aug. 2019
Renard stream (4) |  | 9.6% (Diamonds) |  | Lesser of 40% of sales price or $40 | 40 years | July 2014 Amended Oct. 2018
Sasa stream (5) | 100% |  | $6.21 |  | 40 years | November 2015
(1) Osisko Bermuda will receive refined silver equal to 100% of the payable silver produced from the CSA mine for the life of the mine, and will be entitled to receive refined copper equal to 3.0% of payable copper produced from the CSA mine until the 5th anniversary of the agreements, then 4.875% of payable copper produced from the CSA mine until 33,000 metric tonnes have been delivered in aggregate, and thereafter 2.25% of payable copper produced from the CSA mine for the remaining life of the mine. On the 5th anniversary of the Closing Date, Metals Acquisition will have the option to exercise certain buy-down rights by paying a one-time cash payment to Osisko Bermuda of US$20.0 million to US$40.0 million. If the option is exercised, Osisko Bermuda will still be entitled to receive refined copper equal to 3.25% - 4.0625% of payable copper produced from the CSA mine until 23,900 to 28,450 metric tonnes have been delivered in aggregate, and thereafter 1.5% - 1.875% of payable copper produced from the CSA mine for the remaining life of the mine. (2) Osisko will receive from Taseko an amount of silver production equal to 87.5% of Gibraltar mine's production, until reaching the delivery to Osisko of 6.3 million ounces of silver, and 30.625% of production thereafter. As of December 31, 2023, a total of 1.3 million ounces of silver have been delivered under the stream agreement. (3) The stream percentage shall be payable on 100% of silver until 19,300,000 ounces have been delivered, after which the stream percentage will be 40%. As of December 31, 2023, a total of 5.6 million ounces of silver have been delivered to Osisko Bermuda under the stream agreement. (4) On October 27, 2023, Stornoway announced it was temporarily suspending operations and placing itself under the protection of the Companies' Creditors Arrangement Act. (5) Price subject to the lesser of 3% or inflation over the previous calendar year measured by the consumer price index (CPI) per ounce price escalation after 2016.

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