Royal Gold Reports Revenue Of $142.6 Million In The Quarter

DENVER, CO - Royal Gold, Inc. reported net income of $54.0 million on revenue of $142.6 million in its third quarter of fiscal 2021. Adjusted net income1 was $55.2 million after excluding discrete tax expense items.

“Our portfolio turned in another quarter of solid operating performance,” said, Bill Heissenbuttel, President and CEO. “Revenue, cash flow and earnings were strong, reflecting the current robust gold, silver and copper price environment, which allowed us to continue to fund our investments, repay debt and pay dividends with internally generated funds. As of early April, we substantially completed our contributions to the Khoemacau project and increased the initial stream rate to 84% of payable silver. We are pleased to see a transition underway at the project from construction to commissioning, with first concentrate production expected in the upcoming quarter. We also became debt free in early April after repaying the outstanding balance on our revolving credit facility, leaving the full $1 billion credit facility available for new business opportunities. “Finally, and perhaps most importantly, we recently progressed two meaningful social initiatives with our operating partners. We agreed to fund the transportation of donated medical equipment and supplies to hospitals near the Pueblo Viejo mine in partnership with the Pueblo Viejo JV and Project C.U.R.E., and after the quarter end we entered into a 5-year funding arrangement to support Golden Star’s sustainable agribusiness activities around the Wassa mine.”

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 March, 2021, the Company owned interests on 187 properties on five continents, including interests on 41 producing mines and 19 development stage projects.