Press release
Royal Gold Reports First Quarter 2021 Results
DENVER--(BUSINESS WIRE)-- Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we,” “us,” or “our”) reports net
About this update from Royal Gold, Inc.
[{"type":"text","content":"\n \n\n DENVER--(BUSINESS WIRE)--\nRoyal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we,” “us,” or “our”) reports net income of $106.9 million, or $1.63 per share, on revenue of $146.9 million in its first quarter of fiscal 2021 ended September 30, 2020 (“first quarter”). Adjusted net income 1 was $53.8 million, or $0.82 per share, after excluding a one-time, non-recurring $0.52 per share gain on the sale of the Peak Gold interest, discrete tax benefits of $0.37 per share, a $0.04 per share gain on the change in fair value of equity securities, and a reversal of $0.12 per share for the combined tax effects of these adjustments.\n\nFirst Quarter Key Metrics Compared to Prior Year Quarter: \n\n\nRecord revenue of $146.9 million, an increase of 23.7%\n\n\nOperating cash flow of $94.2 million, an increase of 32.2%\n\n\nVolume of 76,900 GEOs2, a decrease of 4.6%\n\n\nDividends paid of $18.4 million, an increase of 5.7%\n\n\nAverage price of $1,909 per gold ounce, an increase of 29.7%\n\n\n“Consistent performance from across our operating portfolio combined with strong metal prices led to record revenue this quarter,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “We also strengthened our balance sheet and counterparty relationships with the completion of two strategically significant transactions during the quarter. First, we divested our interests in the Peak Gold Project for meaningful cash and royalty consideration, bringing in an experienced operator to advance the project and thereby our remaining royalty interests. Second, while preserving the value to Royal Gold, we helped facilitate Golden Star’s sale of the Prestea and Bogoso mines by splitting out those assets from our stream interest on the Wassa mine. This transaction places each of the Wassa mine and the Prestea and Bogoso mines in the hands of counterparties with singular focus on the success of those operations. We welcome Kinross Gold Corporation as the new operator at the Peak Gold Project, and Future Global Resources Ltd. as the new operator at the Prestea and Bogoso mines, and we look forward to seeing them realize the full potential of these assets.” \n\nRecent Developments\n\nKhoemacau Project\n\nAccording to Khoemacau Copper Mining (Pty.) Limited (“KCM”), progress continued at the Khoemacau Project ...