Royal Gold Provides Update on its Fiscal 2021 First Quarter
10/13/2020 09:00:00
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Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that its wholly owned subsidiary, RGLD Gold AG, sold approximately 56,000 gold equivalent ounces1 (“GEOs”) comprised of approximately 44,000 gold ounces, 474,000 silver ounces and 1,800 tonnes of copper related to its streaming agreements during its fiscal 2021 first quarter ended September 30, 2020 (“first quarter”). First quarter stream sales were in line with the previous guidance range of 53,000 to 58,000 GEOs. The Company had approximately 36,000 GEOs in inventory at the end of the first quarter consisting of 26,000 gold ounces, 461,000 silver ounces and 1,100 tonnes of copper. Inventory at the end of the first quarter was higher than the previous guidance range of 25,000 to 30,000 GEOs primarily due to timing of deliveries.
RGLD Gold AG’s average realized gold, silver and copper prices for the first quarter were $1,897 per ounce, $22.97 per ounce, and $6,494 per tonne ($2.95 per pound), respectively, compared to $1,686, $15.77, and $5,235 ($2.37), respectively, in the prior quarter ended June 30, 2020 (“fourth quarter”). Cost of sales was approximately $389 per GEO for the first quarter using the quarterly average silver-gold ratio of approximately 79 to 1 and copper-gold ratio of approximately 0.29 tonnes per ounce, compared to cost of sales of $406 per GEO in the fourth quarter. Cost of sales is specific to our streaming 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.
Corporate Profile
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. As of September 30, 2020, the Company owned interests on 188 properties on five continents, including interests on 40 producing mines and 17 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.
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