08:20 AM EST, 12/23/2024 (MT Newswires) -- Osisko Gold Royalties ( OR ) said Monday that it completed an amendment to increase its silver stream on Taseko Mines' ( TGB ) Gibraltar copper mine in British Columbia.

Under the amended terms, Osisko's attributable silver percentage rose by 12.5% to 100% while the step-down silver delivery threshold was extended to 6,811,603 ounces delivered, accounting for Osisko's additional silver ownership.

In exchange for these amendments, Osisko paid an additional deposit amount of US$12.7 million to Taseko.

Osisko's share price traded 1.2% lower at US$18.08 at last look in NYSE pre-market trading.

Osisko said the amendments were concluded following Taseko's announcement in March that it had entered into a definitive agreement to consolidate a 100% interest in Gibraltar by acquiring the remaining 12.5% interest from Dowa Metals & Mining and Furukawa.

"Osisko's shareholders will benefit from the increased silver stream from a producing mine thanks to a transaction that is consistent with our strategy of adding cash flow from long-life assets in Tier 1 mining jurisdictions," said Jason Attew, Osisko's president and CEO.

Meanwhile, Osisko announced the successful closing of its transaction to acquire a 1.8% gross revenue royalty (GRR) on Spartan Resources' Dalgaranga gold project in Western Australia for US$44 million.

Osisko also closed a complementary transaction to acquire a 1.35% GRR on additional regional exploration licenses near Dalgaranga for US$6 million.