Press release
Royal Gold Reports Strong Revenue, Cash Flow and Earnings in the Third 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 $54.0 million, or $0.82 per share, on revenue of $142.6 million in its third quarter of fiscal 2021 ended March 31, 2021 (“third quarter”). Adjusted net income1 was $55.2 million, or $0.84 per share, after excluding discrete tax expense items of $0.04 per share and a $0.03 per share gain on the change in fair value of equity securities, and a reversal of $0.01 per share for the tax effected change in fair value of equity securities.\n\nThird Quarter 2021 Highlights:\n\n\nRevenue of $142.6 million, an increase of 5% over the prior year quarter\n\n\n68% of revenue from gold and 12% from silver at average prices of $1,794 per ounce of gold and $26 per ounce of silver\n\n\nOperating cash flow of $92.2 million\n\n\nVolume of 79,500 GEOs2\n\n\n$150 million of debt, net cash3 of $220 million, with available liquidity of $1.2 billion\n\n\nPaid quarterly dividend of $0.30 per share, a 7% increase over the prior year quarter\n\n\nKhoemacau construction 92% complete, 80% base silver stream fully funded\n\n\nAdvanced meaningful social initiatives with Pueblo Viejo joint venture and Golden Star\n\n\nPost-Quarter Events:\n\n\nDebt free after repayment of credit facility balance on April 1\n\n\nKhoemacau stream rate increased to 84% of payable silver \n\n\n“Our portfolio turned in another quarter of solid operating performance,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “Revenue, cash flow and earnings were strong, reflecting the current robust gold, silver and copper price environment, which allowed us to continue to fund our investments, repay debt and pay dividends with internally generated funds. As of early April, we substantially completed our contributions to the Khoemacau project and increased the initial stream rate to 84% of payable silver. We are pleased to see a transition underway at the project from construction to commissioning, with first concentrate production expected in the upcoming quarter. We also became debt free in early April after repaying the outstanding balance on our revolving credit facility, leaving the full $1 billion credit facility available for new business opportunities.”\n\n“Finally, and perhaps most importantly, we recent...