Royal Gold Announces 21% Increase in Attributable Reserves
April 27 2016 - 6:09PM
Business Wire
Royal Gold, Inc. (NASDAQ: RGLD; TSX: RGL),
announces updated estimates for ore reserves and mineralized
material1 as of December 31, 2015. These figures are provided by
the operators of properties on which the Company holds royalties,
streams and similar interests, or are obtained by Royal Gold
through publicly available information.
At the end of calendar 2015, precious metals reserves on
properties subject to the Company’s interests were 86.1 million
ounces of gold and 779.5 million ounces of silver. This compares to
reserves of 73.7 million ounces of gold and 764.0 million ounces of
silver estimated as of December 31, 2014.
After applying the Company’s interests to the reserves noted
above, net gold reserves2 attributable to Royal Gold totaled 5.8
million ounces, compared with 5.1 million ounces at year-end 2014.
On a gold equivalent basis, using a silver to gold ratio of
approximately 77:1, precious metals reserves attributable to Royal
Gold increased 21% to 6.4 million ounces, on a net reserve basis,
compared with 5.3 million ounces for the same period ended 2014.
The increase in reserves were primarily due to our acquisition of
the Wassa and Prestea, Rainy River, Andacollo and Pueblo Viejo
streams.
The complete Royalty/Metal Stream Portfolio, which includes the
ore reserves and mineralized material1 subject to the Company's
interests on producing and development properties, can be found on
our website.
For further information about our royalties, metal streams and
similar interests, please see our Annual Report on Form 10-K, as
well as our other public reports.
CORPORATE PROFILE
Royal Gold is a precious metals royalty and stream company
engaged in the acquisition and management of precious metal
royalties, streams, and similar production based interests. The
Company owns interests on 193 properties on six continents,
including interests on 38 producing mines and 24 development stage
projects. Royal Gold is publicly traded on the NASDAQ Global Select
Market under the symbol “RGLD,” and on the Toronto Stock Exchange
under the symbol “RGL.” 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 reserves and additional mineralization estimates
provided by the operators or obtained by Royal Gold through
publicly available information; the sliding-scale features of our
royalty structure at certain of our properties; and estimates of
commencement of production at projects in development. Net gold and
metal reserves attributable to Royal Gold’s royalty, stream and
other interests are subject to certain assumptions and, like
reserves, do not reflect actual ounces that will be produced. Like
any royalty, stream or similar interest on a non-producing or
not-yet-in-development project, our interests on development
projects are subject to certain risks, such as the ability of the
operators to bring the projects into production and operate in
accordance with their feasibility studies, and the ability of Royal
Gold to make accurate assumptions regarding valuation and timing
and amount of payments. In addition, many of our interests are
subject to risks associated with conducting business in a foreign
country, including application of foreign laws to contract and
other disputes, foreign environmental laws and enforcement and
uncertain political and economic environments. Factors that could
cause actual results to differ materially include, among others,
precious metals, copper and nickel prices; performance of and
production at the Company's royalty and stream properties; 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 royalty and stream properties;
unanticipated grade, environmental, geological, seismic,
metallurgical, processing, liquidity or other problems the
operators of the mining properties may encounter; completion of
feasibility studies; 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 royalty and stream
properties; contests to the Company’s royalty and stream interests
and title and other defects to the Company’s royalty and stream
properties; errors or disputes in calculating royalty and stream
payments, or payments not made in accordance with royalty and
stream agreements; economic and market conditions; risks associated
with conducting business in foreign countries; changes in laws
governing the Company and its royalty and stream 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 Report 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.
1 The U.S. Securities and Exchange Commission does
not recognize this term. Mineralized material is that part of a
mineral system that has potential economic significance but cannot
be included in the proven and probable ore reserve estimates until
further drilling and metallurgical work is completed, and until
other economic and technical feasibility factors based upon such
work have been resolved. Investors are cautioned not to assume that
any part or all of the mineral deposits in this category will ever
be converted into reserves. 2 Net gold reserves are calculated net
of per ounce payments for the Company’s gold streams.
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version on businesswire.com: http://www.businesswire.com/news/home/20160427006813/en/
Royal Gold, Inc.Karli Anderson, 303-575-6517Vice
President Investor Relations
Royal Gold (NASDAQ:RGLD)
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