Royal Gold Provides Update on Its Fiscal 2016 Fourth Quarter
July 08 2016 - 8:30AM
Business Wire
Royal Gold, Inc. (NASDAQ:RGLD; TSX:RGL)
(together with its subsidiaries, “Royal Gold” or the “Company”)
today announced that its wholly owned subsidiary RGLD Gold AG sold
approximately 52,500 gold ounces and 208,900 silver ounces related
to its streaming agreements during its fiscal 2016 fourth quarter
ended June 30, 2016 (“fourth quarter”). The Company had 19,800 gold
ounces and 323,700 silver ounces in inventory at June 30, 2016. As
anticipated, stream segment sales were relatively flat and
inventory increased slightly as compared to the prior quarter.
RGLD Gold AG’s average realized gold price was $1,257 per ounce
sold, compared to $1,168 per ounce sold in the prior quarter, while
cost of sales was approximately $344 per gold equivalent ounce for
the fourth quarter, compared to $330 per gold equivalent ounce in
the prior quarter, using the quarterly average silver-gold ratio of
approximately 75 to 1. 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 fourth quarter, Royal Gold repaid $25 million of
the outstanding balance on its revolving credit facility. As of
June 30, 2016 there was $275 million outstanding on the revolver
resulting in $375 million of available revolver capacity.
Royal Gold’s fourth quarter results will be released before the
market opens for trading on Thursday, August 11, 2016, followed by
a conference call that day at noon Eastern Daylight Time (10:00
a.m. Mountain Daylight Time). The call will be webcast and archived
on the Company’s website for a limited time.
Fiscal 2016 Fourth 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 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, until the close of business on
July 8, 2016, 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 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 royalty and stream properties; the
ability of operators of development properties to finance project
construction to completion and bring projects into production as
expected; 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 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 GoldKarli Anderson, 303-575-6517Vice President
Investor Relations
Royal Gold (NASDAQ:RGLD)
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