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Heather Taylor

VP of Sustainability & Communications at OR Royalties (NYSE: OR), a gold royalty company.

Oct 11, 2026

ThomasHOST
28:39
Mm.
28:39
If anything, I would say that discipline matters even more because assets are being valued at higher commodity price assumptions.
28:48
Our framework really centers on risk-adjusted returns and per share accretion.
28:55
I will really stress that, per share accretion.
28:57
We look at the quality of the asset, we look at the quality of the jurisdiction and the operator, the timing of cash flows, the mine plan, the exploration and expansion potential, and then importantly, the contractual protections and structure of the deal.
29:11
Ultimately, we're looking for returns that are comfortably above our cost of capital on a risk-adjusted basis, um, and then the transaction creating NAV per share from day one, or at least we see a clear line to when, um, that deal can become accretive.
29:26
And we've been really consistent on that.

6 MINS LATER

ThomasHOST
35:17
How does the company think about capital deployment, and how do you balance long-term growth investments with immediate shareholder returns through dividends and opportunist- opportunistic buybacks?

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