Press release
Royal Gold Reports Record Revenue and Operating Cash Flow for the September Quarter of 2021
DENVER--(BUSINESS WIRE)-- Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we,” “us,” or “our”) reports for
About this update from Royal Gold, Inc.
[{"type":"text","content":" DENVER--(BUSINESS WIRE)--\nRoyal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we,” “us,” or “our”) reports for the quarter ended September 30, 2021 (the “September quarter”) net income of $70.2 million, or $1.07 per share, record revenue of $174.4 million and record operating cash flow of $129.9 million. Adjusted net income1 was $70.0 million, or $1.07 per share.\n\nKey September Quarter Highlights:\n\n\nRecords for revenue of $174.4 million, operating cash flow of $129.9 million and volume of 97,400 GEOs2\n\n\n73% of revenue from gold, 10% from silver, 14% from copper\n\n\nEnded the quarter with cash of $160 million, net cash3 of $60 million and available liquidity of $1.1 billion\n\n\nReceived first silver delivery from Khoemacau\n\n\nClosed stream on the NX Gold Mine, and received first gold delivery\n\n\nAcquired royalty on the world-class Red Chris Mine\n\n\nContinued progress on ESG initiatives including upgraded MSCI ESG Rating of AA and achieved net zero carbon emissions for direct operations\n\n\nPaid quarterly dividend of $0.30 per share, a 7% increase over the prior year quarter\n\n\nPost Quarter Events:\n\n\nKhoemacau stream rate increased to 90% of payable silver\n\n\nReduced debt by $50 million\n\n\n“I am pleased to report that Royal Gold turned in another quarter of very strong financial and operating performance with record revenue, operating cash flow and GEO2 volume in the September quarter,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “The portfolio continued to deliver consistent gold-focused revenue and we saw excellent progress at our newest portfolio assets:\n\n\nNewcrest released a pre-feasibility study on the block cave at the Red Chris Mine that shows forecast production to 2040 that is substantially similar to our valuation expectations and indicates potential for significant upside well into the future,\n\n\nEro Copper announced exciting exploration results at the NX Gold Mine that indicate further potential for high-grade resource growth, and\n\n\nIAMGOLD showed steady progress on construction at the Côté Gold Project with expected first production in 2023.\n\n\nWe also received our first silver deliveries from our biggest growth project, Khoemacau, and after quarter end we increased our stream interest to 90% of payable silver, giving...