Royal Gold Provides Update on its Fiscal 2017 Third Quarter

Royal Gold, Inc. today announced that its wholly owned subsidiary RGLD Gold AG sold approximately 58,000 gold ounces and 322,000 silver ounces related to its streaming agreements during its fiscal 2017 third quarter ended March 31, 2017 (“third quarter”). The Company had approximately 15,000 gold ounces and 374,000 silver ounces in inventory at March 31, 2017.

RGLD Gold AG’s average realized gold and silver prices were $1,216 and $17.35 per ounce sold, respectively, compared to $1,226 and $17.51 per ounce sold in the prior quarter ended December 31, 2016. Cost of sales was approximately $356 per gold equivalent ounce for the third quarter using the quarterly average silver-gold ratio of approximately 70 to 1, compared to $373 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.

Also during the third quarter, Royal Gold repaid $45 million of the outstanding balance on its revolving credit facility. As of March 31, 2017 there was $300 million outstanding on the revolver resulting in $350 million of available revolver capacity.

Royal Gold’s third quarter results will be released before the market opens for trading on Thursday, May 11, 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.

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This release was published on openPR.