Royal Gold Provides Update on its Fiscal 2018 First Quarter
October 05 2017 - 5:05PM
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 61,000
gold equivalent ounces comprised of approximately 48,000 gold
ounces, 537,000 silver ounces and 1,170 tonnes of copper related to
its streaming agreements during its fiscal 2018 first quarter ended
September 30, 2017 (“first quarter”). The Company had approximately
15,000 gold ounces and 470,000 silver ounces in inventory at
September 30, 2017.
RGLD Gold AG’s average realized gold, silver and copper prices
were $1,287 per ounce, $16.77 per ounce, and $6,562 per tonne,
respectively, compared to $1,259, $17.32, and $5,681 in the prior
quarter, respectively. Cost of sales was approximately $334 per
gold equivalent ounce for the first quarter using the quarterly
average silver-gold ratio of approximately 76 to 1 and gold-copper
ratio of approximately 0.20 tonnes per ounce, compared to $318 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.
Also during the first quarter, Royal
Gold repaid $50 million of the outstanding balance
on its revolving credit facility. As of September 30, 2017 there
was $200 million outstanding on the revolver, resulting
in $800 million available under the Company’s previously
announced expanded credit facility.
Royal Gold’s first quarter results will be released before the
market opens for trading on Thursday, November 2, 2017, followed by
a conference call that 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 2018 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. The
Company owns interests on 195 properties on six continents,
including interests on 39 producing mines and 22 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 volume, average realized price per ounce and per pound,
and cost of sales per gold equivalent ounce. 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; the ability of operators of
development properties to finance project construction to
completion and bring projects into production as expected;
operators’ delays in securing or inability to secure and maintain
necessary governmental permits; decisions and activities of the
operators of the Company's stream and royalty properties;
unanticipated grade, environmental, geological, seismic,
metallurgical, processing, liquidity or other problems the
operators of the mining properties may encounter; changes in
operators’ project parameters as plans continue to be refined;
changes in estimates of reserves and mineralization by the
operators of the Company’s stream and royalty properties; contests
to the Company’s stream and royalty interests and title and other
defects to the Company’s stream and royalty properties; errors or
disputes in calculating stream and royalty payments, or 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171005006225/en/
Royal Gold, Inc.Karli Anderson, 303-575-6517Vice
President Investor Relations
Royal Gold (NASDAQ:RGLD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Royal Gold (NASDAQ:RGLD)
Historical Stock Chart
From Sep 2023 to Sep 2024