Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — Q3 2020 Earnings Presentation
15 slides from Royal Gold's earnings presentation, May 7, 2020
Slide 1: Fiscal Q3 2020 Results
Fiscal Q3 2020 Results May 7, 2020 NASDAQ: RGLD
Slide 2: Cautionary Statement
Cautionary Statement Cautionary “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This presentation includes “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements are any statements other than statements of histo
Slide 3: Today's Speakers
Today’s Speakers Bill Heissenbuttel Paul Libner Mark Isto President and CEO CFO and Treasurer Executive VP and COO 3
Slide 4: Q3 2020 Overview
Q3 2020 Overview Highlights Revenue of $136.4M Volume of 86,200 GEOs1 $38.6M net income, or $0.59/share • $0.68/share, adjusted to exclude2: – $0.05/share loss on equity securities – $0.04/share one-time equity compensation expense $99.7M cash flow from operations $18.4M in dividends Balance sheet c
Slide 5: Recent Developments: Khoemacau progress
Recent Developments Khoemacau progress3 Construction activities advancing well • Overall progress ~43% • Capital committed ~80% $47.9M contribution made April 3 • $135.7M total contribution to date • Remaining commitment of $76.3M to $129.3M Site overview – April, 2020 5
Slide 6: Recent Developments: Khoemacau progress
Recent Developments Khoemacau progress3 Central boxcut access Central boxcut portal 6
Slide 7: Recent Developments: Khoemacau progress
Recent Developments Khoemacau progress3 Central boxcut portals Central boxcut fans 7
Slide 8: Recent Developments: Mount Milligan, Rainy River
Recent Developments Mount Milligan, Rainy River as reported by the operators4 Updated 43-101 report filed March 26 • Reserve life of 9 years • Average production: 161k oz/yr gold, 81.7M lb/yr copper Royal Gold depletion: $764/oz gold, $1.48/lb copper 2020 calendar guidance maintained: 140-160k oz Mo
Slide 9: Recent Developments: Pueblo Viejo, Cortez
Recent Developments Pueblo Viejo, Cortez as reported by the operators4 Plant expansion study continuing • Process flowsheet design underway Concept study for tailings study well advanced • EIS baseline and studies ongoing Potential gold production of 800k oz/yr after 2022 (100% basis) Pueblo Viejo U
Slide 10: Fiscal Q3 Financial Results
Fiscal Q3 Financial Results $136.4M revenue $38.6M net income ($0.59/share) G&A of $9.6M DD&A of $51.2M, or $594/GEO1 Adjusted net income of $44.3M ($0.68/share) after excluding2: • $3.8M loss on fair value changes of equity securities • $3.3M non-cash compensation expense $99.7M operating cash flow
Slide 11: Fiscal Q3 Liquidity
Fiscal Q3 Liquidity ~$1B of liquidity available at March 31, 2020 Revolving Credit Facility: repaid $30M during FQ3 / drew $200M April 3 March 31, 2020 Amount (US$ M) Undrawn Revolving Credit Facility 895 Working capital 101 Total available liquidity $996 Khoemacau stream commitments: Completed 88 R
Slide 12: Disciplined Strategy, Successful Results
Disciplined Strategy, Successful Results Solid operating and financial performance Strong balance sheet Excellent liquidity position Positioned to act on new business opportunities 12
Slide 13: Endnotes
Endnotes DISCIPLINED | SUCCESSFUL [fp STRATEGY | RESULTS Mk ROYALGOLD,INC el ,ifs |
Slide 14: Endnotes
Endnotes 1. Gold Equivalent Ounces (“GEOs”) are calculated as reported revenue (in total or by reportable segment) for a period divided by the average gold price for that same period. DD&A per GEO is calculated as reported depreciation, depletion and amortization for a period divided by GEOs for tha
Slide 15: Royal Gold contact details
1144 15th St, #2500 Denver, Colorado 80202 303.573.1660 www.royalgold.com NASDAQ: RGLD