Royal Gold Provides Update on its Fiscal 2019 Second Quarter
January 09 2019 - 9:00AM
Business Wire
Royal Gold, Inc. (NASDAQ: RGLD) (together with its
subsidiaries, “Royal Gold” or the “Company”) today announced that
its wholly owned subsidiary, RGLD Gold AG, sold approximately
56,000 gold equivalent ounces comprised of approximately 44,000
gold ounces, 545,000 silver ounces and 1,100 tonnes of copper
related to its streaming agreements during its fiscal 2019 second
quarter ended December 31, 2018 (“second quarter”). The Company had
approximately 17,000 gold ounces, 511,000 silver ounces and 400
tonnes of copper in inventory at December 31, 2018.
RGLD Gold AG’s average realized gold, silver and copper prices
for the second quarter were $1,219 per ounce, $14.45 per ounce, and
$6,092 per tonne ($2.76 per pound), respectively, compared to
$1,221, $15.25, and $5,800 ($2.63 per pound) in the prior quarter,
respectively. Cost of sales was approximately $327 per gold
equivalent ounce for the second quarter using the quarterly average
silver-gold ratio of approximately 84 to 1 and copper-gold ratio of
approximately 0.20 tonnes per ounce, compared to $288 per gold
equivalent ounce in the prior quarter. Cost of sales is specific to
our stream agreements and is the result of the Company’s purchase
of gold, silver or copper for cash payments at a set contractual
price, or a percentage of the prevailing market price of gold,
silver or copper when purchased.
As previously announced and anticipated, reduced sales were
experienced during the second quarter from Mount Milligan due to
rail transportation issues experienced in July 2018, and from
Pueblo Viejo due to a change to the provisional payment schedule
that resulted in lower deliveries in the first quarter with
correspondingly lower sales in the second quarter.
Conference Call
Royal Gold’s second quarter results will be released after the
market close on Wednesday, February 6, 2019, followed by a
conference call the next day at noon Eastern Time (10:00 a.m.
Mountain Time). The call will be webcast and archived on the
Company’s website for a limited time.
Fiscal 2019 Second Quarter Earnings Call Information:
Dial-In Numbers: 855-209-8260 (U.S.); toll free 855-669-9657
(Canada); toll free 412-542-4106 (International) Conference Title:
Royal Gold Webcast URL:
www.royalgold.com under Investors, Events
& Presentations
About Royal Gold
Royal Gold is a precious metals stream and royalty company
engaged in the acquisition and management of precious metal
streams, royalties, and similar production-based interests. At
December 31, 2018, the Company owns interests on 191 properties on
six continents, including interests on 41 producing mines and 17
development stage projects. Royal Gold is publicly traded on the
Nasdaq Global Select Market under the symbol “RGLD.” The Company’s
website is located at www.royalgold.com.
Cautionary “Safe Harbor” Statement Under the Private
Securities Litigation Reform Act of 1995: With the exception of
historical matters, the matters discussed in this press release are
forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from
projections or estimates contained herein. Such forward-looking
statements include: statements about preliminary results of
streaming sales volume, inventory, average realized price per ounce
and per tonne, cost of sales per gold equivalent ounce, reduced
sales during the second quarter due to rail transportation issues
experienced at Mount Milligan in July 2018, and changes to the
provisional payment schedule at Pueblo Viejo that resulted in lower
deliveries in the 2019 first fiscal quarter and correspondingly
lower sales in the second quarter. Factors that could cause actual
results to differ materially from the projections include, among
others, precious metals, copper and nickel prices; performance of
and production at the Company's stream and royalty properties,
including gold and copper production at Mount Milligan, gold
production at Andacollo and Wassa and Prestea, and gold and silver
production at Pueblo Viejo and Rainy River; changes in estimates of
reserves and mineralization by the operators of the Company’s
stream and royalty properties; errors or disputes in calculating or
accounting for stream and royalty deliveries and payments, or
deliveries and payments not made in accordance with stream and
royalty agreements; economic and market conditions; risks
associated with conducting business in foreign countries; changes
in laws governing the Company and its stream and royalty properties
or the operators of such properties; and other subsequent events;
as well as other factors described in the Company's Annual Report
on Form 10-K, Quarterly Reports on Form 10-Q, and other filings
with the Securities and Exchange Commission. Most of these factors
are beyond the Company’s ability to predict or control. The Company
disclaims any obligation to update any forward-looking statement
made herein. Readers are cautioned not to put undue reliance on
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190109005231/en/
Royal Gold, Inc.Alistair BakerDirector, Business
Development(720) 554-6995
Royal Gold (NASDAQ:RGLD)
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