Royal Gold Provides Update on its Fiscal 2019 Fourth Quarter
Tuesday, July 09, 2019 9:00:00 AM ET
DENVER--(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 70,000 gold equivalent ounces comprised of approximately 57,000 gold ounces, 589,000 silver ounces and 1,100 tonnes of copper related to its streaming agreements during its fiscal 2019 fourth quarter ended June 30, 2019 (“fourth quarter”). The Company had approximately 32,000 gold equivalent ounces in inventory at the end of the fourth quarter consisting of 25,000 gold ounces, 512,000 silver ounces and 400 tonnes of copper.
RGLD Gold AG’s average realized gold, silver and copper prices for the fourth quarter were $1,293 per ounce, $14.88 per ounce, and $6,287 per tonne ($2.85 per pound), respectively, compared to $1,303, $15.51, and $6,051 ($2.74 per pound), respectively, in the third quarter ended March 31, 2019 (“third quarter”). Cost of sales was approximately $342 per gold equivalent ounce for the fourth quarter using the quarterly average silver-gold ratio of approximately 88 to 1 and copper-gold ratio of approximately 0.21 tonnes per ounce, compared to $319 per gold equivalent ounce in the third quarter. Cost of sales is specific to our stream 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.
Royal Gold’s fourth quarter and fiscal year 2019 results will be released after the market close on Wednesday, August 7, 2019, followed by a conference call the next 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 2019 fourth quarter and fiscal year earnings call information:
855-209-8260 (U.S.); toll free
855-669-9657 (Canada); toll free
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. At June 30, 2019, the Company owns interests on 186 properties on five continents, including interests on 41 producing mines and 15 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 sales, inventory, average realized metal prices per ounce and per tonne, cost of sales per gold equivalent ounce, and the quarterly average silver-gold ratio. Factors that could cause actual results to differ materially from projections and estimates include, among others, precious metals, copper and nickel prices; production from the Company's stream and royalty properties; errors or disputes in calculating or accounting for stream and royalty deliveries and payments, or deliveries and payments not made in accordance with stream and royalty agreements; counterparty failure to perform under contracts for sales of metal; economic and market conditions; 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.
Director, Business Development
Source: Royal Gold, Inc.