Royal Gold Provides Update on its Fiscal 2017 Third Quarter
April 03 2017 - 2:00AM
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 58,000
gold ounces and 322,000 silver ounces related to its streaming
agreements during its fiscal 2017 third quarter ended March 31,
2017 (“third quarter”). The Company had approximately 15,000 gold
ounces and 374,000 silver ounces in inventory at March 31,
2017.
RGLD Gold AG’s average realized gold and silver prices were
$1,216 and $17.35 per ounce sold, respectively, compared to $1,226
and $17.51 per ounce sold in the prior quarter ended December 31,
2016. Cost of sales was approximately $356 per gold equivalent
ounce for the third quarter using the quarterly average silver-gold
ratio of approximately 70 to 1, compared to $373 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 or silver for cash payments at a set contractual price, or
a percentage of the prevailing market price of gold or silver when
purchased.
Also during the third quarter, Royal
Gold repaid $45 million of the outstanding balance
on its revolving credit facility. As of March 31, 2017 there
was $300 million outstanding on the revolver resulting
in $350 million of available revolver capacity.
Royal Gold’s third quarter results will be released before the
market opens for trading on Thursday, May 11, 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 2017 Third 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 193 properties on six continents,
including interests on 38 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 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 Wassa and Prestea, Andacollo, 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 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.
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Royal Gold, Inc.Karli Anderson, 303-575-6517Vice President
Investor Relations
Royal Gold (NASDAQ:RGLD)
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