Royal Gold Provides Update on its Fiscal 2020 Fourth Quarter
July 07 2020 - 4:05PM
Business Wire
Royal Gold, Inc. (NASDAQ: RGLD) (together with its
subsidiaries, “Royal Gold” or the “Company,” “we” or “our”)
announced today that its wholly owned subsidiary, RGLD Gold AG,
sold approximately 51,000 gold equivalent ounces comprised of
approximately 44,000 gold ounces, 450,000 silver ounces and 800
tonnes of copper related to its streaming agreements during its
fiscal 2020 fourth quarter ended June 30, 2020 (“fourth quarter”).
Fourth quarter stream sales were in line with the previous guidance
range of 50,000 to 55,000 gold equivalent ounces. The Company had
approximately 25,000 gold equivalent ounces in inventory at the end
of the fourth quarter consisting of 19,000 gold ounces, 475,000
silver ounces and 300 tonnes of copper. Inventory at the end of the
fourth quarter was higher than the previous guidance range of
18,000 to 23,000 gold equivalent ounces primarily due to timing of
deliveries.
RGLD Gold AG’s average realized gold, silver and copper prices
for the fourth quarter were $1,686 per ounce, $15.77 per ounce, and
$5,235 per tonne ($2.37 per pound), respectively, compared to
$1,569, $17.79, and $5,493 ($2.49), respectively, in the prior
quarter ended March 31, 2020 (“third quarter”). Cost of sales was
approximately $406 per gold equivalent ounce for the fourth quarter
using the quarterly average silver-gold ratio of approximately 104
to 1 and copper-gold ratio of approximately 0.32 tonnes per ounce,
compared to cost of sales of $355 per gold equivalent ounce in the
third quarter. 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.
Corporate Profile
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. As of
June 30, 2020, the Company owned interests on 187 properties on
five 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.
For further information, please
contact:
Fourth Quarter and Fiscal Year 2020
Call Information:
Alistair Baker
Dial-In
855-209-8260 (U.S.); toll free
Vice President Investor Relations and
Business Development
Numbers:
855-669-9657 (Canada); toll free
412-542-4106 (International)
720-554-6995
Conference Title:
Royal Gold
Note: Royal Gold’s fourth quarter
and fiscal year 2020 results will be released after the market
close on Wednesday, August 5, 2020, followed by a conference call
the next day at 12:00 p.m. Eastern Time (10:00 a.m. Mountain Time).
The call will be webcast and archived on the Company’s website for
a limited time.
Webcast URL:
www.royalgold.com under Investors, Events
& Presentations
Forward-Looking Statements: This press release includes
“forward-looking statements” within the meaning of U.S. federal
securities laws. Forward-looking statements are any statements
other than statements of historical fact. Forward-looking
statements are not guarantees of future performance, and actual
results may differ materially from these statements.
Forward-looking statements are often identified by words like
“will,” “may,” “could,” “should,” “would,” “believe,” “estimate,”
“expect,” “anticipate,” “plan,” “forecast,” “potential,” “intend,”
“continue,” “project,” or negatives of these words or similar
expressions. Forward-looking statements include, among others,
statements about fourth quarter operating results. Factors that
could cause actual results to differ materially from these
forward-looking statements include, among others, the following: a
low-price environment for gold, silver, copper, nickel or other
metals; operating activities or financial performance of properties
on which we hold stream or royalty interests, including variations
between actual and forecasted performance, operators’ ability to
complete projects on schedule and as planned, changes to mine plans
and reserves, liquidity needs, mining and environmental hazards,
labor disputes, distribution and supply chain disruptions,
permitting and licensing issues, contractual issues involving our
stream or royalty agreements; risks associated with doing business
in foreign countries; our ability to identify, finance, value and
complete acquisitions; adverse economic and market conditions;
changes in laws or regulations governing us, operators or operating
properties; changes in management and key employees; and other
factors described in our reports filed with the Securities and
Exchange Commission, including our Form 10-K for the fiscal year
ended June 30, 2019, and subsequent Quarterly Reports on Form 10-Q.
Most of these factors are beyond our ability to predict or control.
Forward-looking statements speak only as of the date on which they
are made. We disclaim any obligation to update any forward-looking
statements, except as required by law. Readers are cautioned not to
put undue reliance on forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200707005254/en/
Alistair Baker Vice President Investor Relations and Business
Development 720-554-6995
Royal Gold (NASDAQ:RGLD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Royal Gold (NASDAQ:RGLD)
Historical Stock Chart
From Apr 2023 to Apr 2024