Press release
Royal Gold Reports Record Revenue in the Second Quarter of Fiscal 2021
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":" 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 $59.9 million, or $0.91 per share, on record revenue of $158.4 million in its second quarter of fiscal 2021 ended December 31, 2020 (“second quarter”). Adjusted net income 1 was $60.1 million, or $0.92 per share, after excluding a $0.01 loss on the change in fair value of equity securities.\n\nSecond Quarter 2021 Highlights:\n\n\nRecord revenue of $158.4 million, an increase of 28% over the prior year quarter\n\n\n76% of revenue from gold at an average price of $1,874 per ounce\n\n\nOperating cash flow of $99.9 million, an increase of 28% over the prior year quarter\n\n\nVolume of 84,500 GEOs1 \n\n\n$200 million of debt, net cash2 of $182 million, with $1.2 billion of liquidity available\n\n\nAnnual dividend increased to $1.20 per share, a 7% increase over the prior year, and the 20th consecutive annual increase\n\n\nKhoemacau construction 85% complete, and 80% base silver stream fully funded\n\n\nContinued Board renewal with election of Fabiana Chubbs\n\n\n“Excellent performance from our operating portfolio combined with continued robust metal prices led to another quarter of record revenue and strong operating cash flow,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “The positive price environment continues to support organic growth from within the portfolio including new revenue contributions from Relief Canyon and South Laverton. Solid operating cash flow of almost $100 million allowed us to further strengthen the balance sheet, increase our annual dividend for the 20th consecutive year, and complete our funding of the advance payment for the 80% base silver stream at Khoemacau. We are pleased to see progress at Khoemacau remain on track for first shipment of concentrate in the third calendar quarter of 2021.”\n\n“Finally,” continued Mr. Heissenbuttel, “we continued our long-standing practice of maintaining an independent and highly qualified Board of Directors with the election of Fabiana Chubbs following the retirement of Chris Thompson in November. I would like to welcome Fabiana to the Board and thank Chris for his invaluable contribution to Royal Gold over the past several years.”\n\n_________________________________________\n\n[1] Adjus...