Business
Royal Gold Announces Calendar 2007 Reserve Increases and Production Forecasts From Its Royalty Operators
Royal Gold Announces Calendar 2007 Reserve Increases and Production Forecasts From Its Royalty Operators.
About this update from Red Lake Gold Inc
[{"type":"text","content":"\n\n\n\nDENVER, April 10 /CNW/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; TSX: RGL), the\nleading precious metals royalty company, today announced ore reserves and\nadditional mineralization estimates, updated for calendar 2007, as well as\nproduction forecasts for its royalty properties. These reserves, additional\nmineralization and production estimates as of December 31, 2006, are provided\nto us by the operators of our royalty properties or have been obtained through\npublicly available information:\n\n\n- SJ Claims, Goldstrike mine -- Barrick Goldstrike Mines Inc;\n- Leeville Mining Complex -- Newmont Mining Corporation;\n- Pipeline Mining Complex -- Barrick Gold U.S. Inc.;\n- Bald Mountain mine -- Barrick Gold U.S. Inc.;\n- Mulatos mine -- Alamos Gold Inc.;\n- Robinson mine -- Quadra Mining Ltd.;\n- Troy mine -- Revett Minerals Inc.;\n- Martha mine -- Coeur d'Alene Mines Corporation;\n- Penasquito project -- Goldcorp Inc.;\n- Pascua-Lama project -- Compania Minera Nevada Ltd. and Barrick\n Exploraciones Argentina S.A.;\n- Taparko-Bouroum project -- High River Gold Mines Ltd.; and,\n- Gold Hill deposit -- Kinross Gold Corporation.\n\n\nTony Jensen, President and Chief Executive Officer, commented, "We are\npleased to report a substantial increase in the total reserve base for our\nroyalty portfolio. Our reserve increases reflect the transformational growth\nRoyal Gold has experienced over the past year due to the addition of royalties\non long-life, world-class deposits and the on-going successes of our royalty\noperators in converting additional mineralized material into reserves. The\nCompany is well positioned for continued growth and cash generation in 2007\nand beyond."\n\n\nAt the end of calendar 2006, total precious metals reserves subject to\nthe Company's royalty interests include 42.2 million ounces of gold and 595\nmillion ounces of silver. This total reflects a net gain of 20.8 million\nounces of gold and 576 million ounces of silver, representing a 97% increase\nin gold reserves and a thirty-fold increase in silver reserves over the prior\ncalendar year estimates.\n\n\nRoyalty Definitions\n\n\nThe Company's royalty portfolio contains several different types of\nroyalties which are defined as follows:\n\n\nGross Smelter Return ("GSR") Royalty -- a defined percentage of the gross\nrevenue from a resou...