New Risk • May 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 46% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (46% accrual ratio). Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). Reported Earnings • Apr 28
Full year 2025 earnings released: EPS: CA$0.16 (vs CA$0.052 in FY 2024) Full year 2025 results: EPS: CA$0.16 (up from CA$0.052 in FY 2024). Revenue: CA$13.1m (up 65% from FY 2024). Net income: CA$4.56m (up 76% from FY 2024). Profit margin: 35% (up from 33% in FY 2024). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CA$3.76, the stock trades at a trailing P/E ratio of 53.9x. Average trailing P/E is 19x in the Metals and Mining industry in Canada. Total returns to shareholders of 873% over the past three years. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CA$2.75, the stock trades at a trailing P/E ratio of 39.4x. Average trailing P/E is 18x in the Metals and Mining industry in Canada. Total returns to shareholders of 681% over the past three years. 공시 • Mar 12
Orogen Royalties Inc. announced that it expects to receive CAD 10.000348 million in funding Orogen Royalties Inc. announced a non-brokered private placement of 2,890,274 common shares of the company at a price per share of CAD 3.46 for gross proceeds of CAD 10,000,348.04 on March 12, 2026. Certain directors and officers of the Company may acquire securities under the private placement. Any such participation would be considered to be a “related party transaction” as defined under Multilateral Instrument 61-101. Such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any Common Shares issued to or the consideration paid by such persons will exceed 25% of the Company’s market capitalization. The Company may pay a finder’s fee in connection with the private placement, as determined by mutual agreement between the Company and the finders and subject to the approval of the TSX Venture Exchange. The finders’ fee will consist of a 5% cash fee for Common Shares sold to investors introduced by such finders. All Common Shares issued pursuant to the private placement will be subject to a four (4) month hold period under applicable securities laws in Canada and applicable securities legislation hold periods outside of Canada from the closing date. The Company anticipates closing of the private placement within approximately three to four weeks from the date hereof and will be subject to receipt of all necessary regulatory approvals, including the approval of the Exchange. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CA$3.12, the stock trades at a trailing P/E ratio of 44.7x. Average trailing P/E is 23x in the Metals and Mining industry in Canada. Total returns to shareholders of 786% over the past three years. Reported Earnings • Nov 26
Third quarter 2025 earnings released: EPS: CA$0.012 (vs CA$0.007 loss in 3Q 2024) Third quarter 2025 results: EPS: CA$0.012 (up from CA$0.007 loss in 3Q 2024). Revenue: CA$1.75m (down 17% from 3Q 2024). Net income: CA$653.3k (up CA$1.01m from 3Q 2024). Profit margin: 37% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Board Change • Nov 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Samantha Shorter was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 공시 • Oct 20
Orogen Royalties Inc.(TSXV:OGN) dropped from S&P/TSX Venture Composite Index Orogen Royalties Inc.(TSXV:OGN) dropped from S&P/TSX Venture Composite Index 공시 • Oct 14
Altitude Minerals Ltd (ASX:ATT) signed a purchase and sale agreement to acquire Firenze gold-silver project in Nevada, USA from Orogen Royalties Inc. (TSXV:OGN) and Altius Minerals Corporation (TSX:ALS) for $0.43 million. Altitude Minerals Ltd (ASX:ATT) signed a purchase and sale agreement to acquire Firenze gold-silver project in Nevada, USA from Orogen Royalties Inc. (TSXV:OGN) and Altius Minerals Corporation (TSX:ALS) for $0.43 million on October 14, 2025. The consideration consists of $0.43 million where, $0.3 million is paid at the time of signing a Letter of Intent, $0.1 million on signing the agreement, and $0.3 million in cash or shares on or before November 30, 2025, at the election of Altitude. Altitude will also grant a 3% net smelter return ("NSR") royalty of which 1% can be purchased for $1.5 million. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CA$2.28, the stock trades at a trailing P/E ratio of 43.2x. Average trailing P/E is 19x in the Metals and Mining industry in Canada. Total returns to shareholders of 758% over the past three years. Reported Earnings • Aug 26
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: CA$2.18m (up 14% from 2Q 2024). Net loss: CA$241.1k (down 147% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jul 23
Independent Director recently bought CA$310k worth of stock On the 17th of July, Timothy Janke bought around 210k shares on-market at roughly CA$1.48 per share. This transaction increased Timothy's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. 
