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Royal Gold Announces Reserve Increases and Production Forecast From Its Royalty Operators for Calendar 2006
Royal Gold Announces Reserve Increases and Production Forecast From Its Royalty Operators for Calendar 2006.
About this update from Red Lake Gold Inc
[{"type":"text","content":"\n\n\n\n\nDENVER, Colo., April 11 /CNW/ -- ROYAL GOLD, INC.\n(Nasdaq: RGLD; TSX: RGL), the leading precious metals royalty company, today\nannounced updated ore reserve and additional mineralization estimates and\nproduction forecasts for its royalty properties in calendar year 2006. These\nreserves, additional mineralization and production estimates are provided to\nus by the operators of our royalty properties:\n\n-- Pipeline Mining Complex - Barrick Gold Corporation;\n-- Leeville project - Newmont Mining Corporation;\n-- SJ Claims, Goldstrike mine - Barrick Gold Corporation;\n-- Bald Mountain mine - Barrick Gold Corporation;\n-- Troy mine - Revett Minerals Inc.;\n-- Martha mine - Coeur d'Alene Mines Corporation;\n-- Robinson mine - Quadra Mining Ltd.;\n-- Mulatos mine - Alamos Gold, Inc.; and,\n-- Taparko-Bouroum project - High River Gold Mines Ltd.\n\nStanley Dempsey, Chairman and Chief Executive Officer, commented, \"We are\npleased to report an expanded reserve base for our royalty portfolio. This\nincrease reflects the effectiveness of our long-term growth strategy, the\nstrength of our portfolio of assets and the quality of the operators behind\nthese properties. Diversification of the Company's revenue stream will\nposition us well for sustained, long-term growth.\"\nAt the end of calendar 2005, total reserves subject to the Company's\nroyalty holdings include 29.1 million ounces of gold, 18.7 million ounces of\nsilver and 2.3 billion pounds of copper. This total reflects a net gain of\n760,000 ounces of gold, 2.5 million ounces of silver, and 2.2 billion pounds\nof copper, over the prior calendar year estimates. About 1.1 million ounces\nof these reserves are subject to our GSR2 (\"Super\") royalty at the Pipeline\nMining Complex.\nFollowing the property descriptions are Tables 1, 2, and 3 which display\nroyalty reserves, additional mineralization, and estimated calendar 2006\nproduction related to Royal Gold's various royalty holdings as of December 31,\n2005.\n\nRoyalty Profiles\n\nPipeline Mining Complex (Lander County, Nevada)\nAt the Pipeline Mining Complex, in Lander County, Nevada, the Company\nholds two sliding-scale gross smelter return royalties (\"GSR1\" and \"GSR2\") and\na fixed-rate gross smelter return royalty (\"GSR3\"). A GSR royalty is a\ndefined percentage of the gross revenue from a resource extract...