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 62,000 gold equivalent ounces comprised of approximately 52,000 gold ounces, 374,000 silver ounces and 1,165 metric tonnes of copper related to its streaming agreements during its fiscal 2017 fourth quarter ended June 30, 2017 (“fourth quarter”). The Company had approximately 14,000 gold ounces and 537,000 silver ounces in inventory at June 30, 2017.
RGLD Gold AG’s average realized gold, silver and copper prices were $1,259 per ounce, $17.32 per ounce, and $5,681 per metric tonne, respectively, compared to $1,216 and $17.35 per ounce sold in the prior quarter. This is the first quarter of copper stream sales. Cost of sales was approximately $318 per gold equivalent ounce for the fourth quarter using the quarterly average silver-gold ratio of approximately 73 to 1 and gold-copper ratio of approximately 0.22 metric tonnes per ounce, compared to $356 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, 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.
Also during the fourth quarter, Royal Gold repaid $50 million of the outstanding balance on its revolving credit facility. As of June 30, 2017 there was $250 million outstanding on the revolver, resulting in $750 million available under the Company’s previously announced expanded credit facility.
Royal Gold’s fourth quarter results will be released before the market opens for trading on Thursday, August 10, 2017, 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 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 stream and royalty company engaged in the acquisition and management of precious metal streams, royalties, and similar production based interests. The Company owns interests on 194 properties on six continents, including interests on 38 producing mines and 22 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.
