Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — Investor Presentation (May 2019)
17 slides from Royal Gold's investor presentation, May 30, 2019
Slide 1: Metal Stream/Royalty Portfolio: Gold, United States
Tons of Ore (M) (opt) (M) (M) (opt) (M) (opt) (M) (opt) United States Kinross 1.75 - 2.5% NSR 11 Barrick GSR1 0.40 - 5.0% GSR 12 GSR2 0.40 - 5.0% GSR 12 GSR3 0.71% GSR NVR1 4.91% NVR NVR1C 4.52% NVR 13 Kinross 1.0% - 2.0% NSR 14 0.6% - 0.9% NSR (M-ACE) 15 Barrick 0.9% NSR West Kirkland / Clover Neva
Slide 2: Metal Stream/Royalty Portfolio: Gold, United States (cont.)
Tons of Ore (M) (opt) (M) (M) (opt) (M) (opt) (M) (opt) United States (cont.) SSR Mining 2.0% NSR Waterton Precious Metals Fund Cordillleran - 3.0% NSR 16, 17 Rayrock - 2.94% NSR 16, 18 Americas Silver 3.0% NSR 19 KGHM 3.0% NSR Waterton Precious Metals Fund 3.0% NSR Newmont Goldcorp 2.0% GPR Coeur M
Slide 3: Metal Stream/Royalty Portfolio: Gold, Canada
Tons of Ore (M) (opt) (M) (M) (opt) (M) (opt) (M) (opt) Canada Sabina Gold & Silver George Lake 2.35% GSR 21 Goose Lake 1.95% GSR 22 Yamana / Agnico Eagle 1.0% - 1.5% NSR 23 Kirkland Lake 0.00013 x gold price Kutcho Copper Corp 2.0% NSR Agnico Eagle 2.0% NSR Centerra Gold 35% of gold produced 24 Ana
Slide 4: Metal Stream/Royalty Portfolio: Gold, Canada, Mexico, Central and South America
Tons of Ore (M) (opt) (M) (M) (opt) (M) (opt) (M) (opt) Canada (cont.) Copper Fox/Teck 3.5% NPI Barrick 0.97% NSR Mexico Pan American Silver 3.25% NSR Newmont Goldcorp 2.0% NSR Central and South America Teck 100% of payable gold 26 Orvana 3.0% NSR Compañia Inversora en Minas 2.0% NSR B2Gold 3.0% NSR
Slide 5: Metal Stream/Royalty Portfolio: Gold, Central and South America, Australia
Tons of Ore (M) (opt) (M) (M) (opt) (M) (opt) (M) (opt) Central and South America (cont.) Newmont Goldcorp 1.4% NSR 27 Condor Gold 3.0% NSR Amarillo Gold 2.75% NSR Barrick/Newmont Goldcorp 7.5% of gold produced 28 Australia Consolidated Tin 1.5% NSR St Barbara 1.5% NSR Washington H. Soul Pattinson 1
Slide 6: Metal Stream/Royalty Portfolio: Gold, Australia and Africa
Tons of Ore (M) (opt) (M) (M) (opt) (M) (opt) (M) (opt) Australia (cont.) Evolution Mining 2.5% NSR Saracen 1.5% NSR Shandong Tianye 1.5% NSR Africa Balaji Group 2.5% GSR Nord Gold 2.0% GSR 30 Golden Star Resources 10.5% of gold produced 31 Golden Star Resources 10.5% of gold produced 31 29.17 0.093
Slide 7: Metal Stream/Royalty Portfolio: Silver
Tons of Ore (M) (opt) (M) (M) (opt) (M) (opt) (M) (opt) United States Kinross 1.0% - 2.0% NSR 14 0.6% - 0.9% NSR (M-ACE) 15 West Kirkland / Clover Nevada 1.50% NSR Americas Silver 3.0% NSR 19 Canada Kutcho Copper Corp 2.0% NSR New Gold 60% of silver produced 25 Copper Fox/Teck 3.5% NPI Mexico Pan Am
Slide 8: Metal Stream/Royalty Portfolio: Silver (continued)
Tons of Ore (M) (opt) (M) (M) (opt) (M) (opt) (M) (opt) Central and South America Orvana 3.0% NSR Compañia Inversora en Minas 2.0% NSR Condor Gold 3.0% NSR Barrick/Newmont Goldcorp 75% of silver produced 28 Australia Consolidated Tin 1.5% NSR Washington H. Soul Pattinson 1.5% NSR Africa Cupric Canyo
Slide 9: Metal Stream/Royalty Portfolio: Base Metals, Copper
Tons of Ore (M) (%) (M) (M) (%) (M) (%) (M) (%) United States KGHM 3.0% NSR Canada Kutcho Copper Corp 2.0% NSR Centerra Gold 18.75% of copper produced 24 Copper Fox/Teck 3.5% NPI Vale 2.7% NVR Central and South America Orvana 3.0% NSR Newmont Goldcorp 1.4% NSR 27 Australia Consolidated Tin 1.5% NSR
Slide 10: Base Metals: Copper, Lead and Zinc
Tons of Ore (M) (%) (M) (M) (%) (M) (%) (M) (%) Australia (cont.) Washington H. Soul Pattinson 1.5% NSR Europe First Quantum 1.5% NSR Mexico Newmont Goldcorp 2.0% NSR 569.15 3613.200 99.08 0.29% 105.67 0.29% 16.39 0.17% Australia Consolidated Tin 1.5% NSR Canada Kutcho Copper Corp 2.0% NSR Mexico Ne
Slide 11: Base Metals: Zinc, Cobalt, Molybdenum, Nickel
Tons of Ore (M) (%) (M) (M) (%) (M) (%) (M) (%) Central and South America Laguna Gold 0.0 - 3.0% NSR 37 Australia Consolidated Tin 1.5% NSR Washington H. Soul Pattinson 1.5% NSR Canada Vale 2.7% NVR Canada Vale 2.7% NVR Canada Copper Fox/Teck 3.5% NPI Tons Average Base Metal Grade Ton Average Base M
Slide 12: Footnotes: Reserve estimate definitions
1 2 3 4 5 Royal Gold has disclosed a number of reserve estimates that are provided by operators that are foreign issuers and are not based on the U.S. Securities and Exchange Commission's definitions for proven and probable reserves. For Canadian issuers, definitions of "mineral reserve," "proven mi
Slide 13: Footnotes: Mineral resource definitions
6 7 8 9 10 11 12 Some of the operators are Canadian and Australian issuers. Canadian and Australian issuers use the terms "mineral resources" and its subcategories "measured," "indicated" and "inferred" mineral resources. For Canadian issuers, the definitions of "mineral resource," "measured mineral
Slide 14: Footnotes: Royalty terms
13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 The royalty is capped at $10 million. As of March 31, 2019, royalty payments of approximately $6.88 million have been received. The sliding-scale schedule (price of gold per ounce - royalty rate): Below $350 - 1.0%; > $350 - 2.0%. The silver royalty rate
Slide 15: Footnotes: Reserve price assumptions
28 29 30 31 32 33 34 35 36 Copper reserves were calculated by the operators at the following prices per pound: $3.52 -Schaft Creek; $3.00 - Andacollo, La Fortuna and Mount Milligan; $2.95 - Robinson; $2.75 - Las Cruces; $2.76 - Voisey's Bay; and $2.50 - Don Mario. No copper reserve price was reporte
Slide 16: Footnotes (cont.)
37 38 39 40 NSR sliding-scale schedule (price of zinc per pound - royalty rate): Below $0.50 - 0.0%; $0.50 to below $0.55 - 1.0%; $0.55 to below $0.60 - 2.0%; $0.60 or higher - 3.0%. Nickel reserve price was calculated by the operator at the following price per pound: $5.01 - Voisey's Bay. Cobalt re
Slide 17: Glossary
Royalty: The right to receive a percentage or other denomination of mineral production from a mining operation. Gross Smelter Return (“GSR”) Royalty: A defined percentage of the gross revenue from a resource extraction operation, less, if applicable, certain contract- defined costs paid by, or charg