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Royal Gold Announces Fiscal Q1 2020 Update

Mining News - Published on Tue, 15 Oct 2019

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Royal Gold Inc announced that its wholly owned subsidiary, RGLD Gold AG, sold approximately 60,000 gold equivalent ounces comprised of approximately 50,000 gold ounces, 510,000 silver ounces and 1,100 tonnes of copper related to its streaming agreements during its fiscal 2020 first quarter ended September 30, 2019. As noted previously, first quarter stream sales were lower than the prior quarter due to production restrictions experienced at Mount Milligan during the quarter ended March 31, 2019. The Company had approximately 25,000 gold equivalent ounces in inventory at the end of the first quarter consisting of 18,000 gold ounces, 514,000 silver ounces and 400 tonnes of copper.

RGLD Gold AG’s average realized gold, silver and copper prices for the first quarter were USD 1,458 per ounce, USD 16.54 per ounce and USD 5,798 per tonne, respectively, compared to USD 1,293, USD 14.88 and USD 6,287 respectively, in the prior quarter ended June 30, 2019. Cost of sales was approximately USD 337 per gold equivalent ounce for the first quarter using the quarterly average silver-gold ratio of approximately 87 to 1 and copper-gold ratio of approximately 0.25 tonnes per ounce, compared to USD 342 per gold equivalent ounce in the prior quarter ended June 30, 2019. 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.

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Posted By : Rabi Wangkhem on Tue, 15 Oct 2019
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