Royal Gold Provides Update on its Fiscal 2017 First Quarter
October 04 2016 - 08:00AM
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 60,000
gold ounces and 323,000 silver ounces related to its streaming
agreements during its fiscal 2017 first quarter ended September 30,
2016 (“first quarter”). The Company had 24,000 gold ounces and
544,000 silver ounces in inventory at September 30, 2016. Stream
segment sales and inventory increased for both gold and silver as
compared to the prior quarter.
RGLD Gold AG’s average realized gold and silver prices were
$1,329 and $19.52 per ounce sold, respectively, compared to $1,257
and $16.36 per ounce sold in the prior quarter. Cost of sales was
approximately $352 per gold equivalent ounce for the first quarter
using the quarterly average silver-gold ratio of approximately 68
to 1, compared to $344 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.
Royal Gold’s first quarter results will be released before the
market opens for trading on Thursday, November 3, 2016, 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 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
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.” 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; 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; the
failure of Centerra Gold Inc.’s acquisition of Thompson Creek
Metals to occur; 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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version on businesswire.com: http://www.businesswire.com/news/home/20161004005229/en/
Royal GoldKarli Anderson, 303-575-6517Vice President
Investor Relations
Royal Gold (NASDAQ:RGLD)
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