On October 1, 2020, Osisko Gold Royalties Ltd. (OR) and Regulus Resources Inc. (TSX-V: REG)(OTCQX:RGLSF) announced that they have entered into a strategic partnership agreement concerning the AntaKori copper project (Fig. 1), whereby Regulus will grant certain royalty and stock warrant rights to Osisko in exchange for US$12.5 million of upfront cash. The transaction is expected to close by the end of October 2020.
Fig. 1. Regulus claim map, including 100%-owned in red, Colquirrumi JV (70%-owned, in pink). Source.
Existing royalties. There are existing royalties on the AntaKori claims that are currently held by various private parties (Fig. 2). Fig. 2. NSR royalties on AntaKori concessions. Source.
Mina Volare. Regulus has acquired a 1.5% or 3% NSR on the Mina Volare claim of the AntaKori project (Fig. 2; Fig. 3) for US$750,000 from a private vendor. Osisko acquired 50% of the royalty (0.75% or 1.5%) for 75% of Regulus’