Royal Gold Provides Update on its Fiscal 2020 First Quarter
October 08 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
60,000 gold equivalent ounces comprised of approximately 50,000
gold ounces, 510,000 silver ounces and 1,100 tonnes of copper
related to its streaming agreements during its fiscal 2020 first
quarter ended September 30, 2019 (“first quarter”). As noted
previously, first quarter stream sales were lower than the prior
quarter due to production restrictions experienced at Mount
Milligan during the quarter ended March 31, 2019. The Company had
approximately 25,000 gold equivalent ounces in inventory at the end
of the first quarter consisting of 18,000 gold ounces, 514,000
silver ounces and 400 tonnes of copper.
RGLD Gold AG’s average realized gold, silver and copper prices
for the first quarter were $1,458 per ounce, $16.54 per ounce, and
$5,798 per tonne ($2.63 per pound), respectively, compared to
$1,293, $14.88, and $6,287 ($2.85 per pound), respectively, in the
prior quarter ended June 30, 2019. Cost of sales was approximately
$337 per gold equivalent ounce for the first quarter using the
quarterly average silver-gold ratio of approximately 87 to 1 and
copper-gold ratio of approximately 0.25 tonnes per ounce, compared
to $342 per gold equivalent ounce in the prior quarter ended June
30, 2019. Cost of sales is specific to our streaming 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.
Conference Call
Royal Gold’s first quarter 2020 results will be released after
the market close on Wednesday, November 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 2020 first 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
September 30, 2019, the Company owned interests on 187 properties
on five continents, including interests on 41 producing mines and
16 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 regarding lower first fiscal quarter
stream sales, preliminary sales, inventory, average realized metal
prices per ounce and per tonne, cost of sales per gold equivalent
ounce, and the quarterly average silver-gold ratio and copper-gold
ratio. Factors that could cause actual results to differ materially
from projections and estimates include, among others, restrictions
on production at Mt. Milligan, precious metals, copper and nickel
prices; production from 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 streaming and royalty
agreements; counterparty failure to perform under contracts for
sales of metal; economic and market conditions; 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/20191008005236/en/
For further information, please contact: Alistair Baker
Director, Business Development (720) 554-6995
Royal Gold (NASDAQ:RGLD)
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