Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — Q2 2023 Earnings Presentation
11 slides from Royal Gold's earnings presentation, Aug 3, 2023
Slide 1: Second Quarter 2023 Results
Second Quarter 2023 Results August 3, 2023
Slide 2: Cautionary Statements
Cautionary Statements Forward-Looking Statements: 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 historical fact. Forward-looking statements are not guarantees of futur
Slide 3: Today's Speakers
Today’s Speakers Bill Heissenbuttel Paul Libner Martin Raffield President and CEO CFO and Treasurer Vice President, Operations ROYAL GOLD, INC. | SECOND QUARTER 2023 RESULTS | AUGUST 3, 2023 3
Slide 4: Q2 2023 Overview
Q2 2023 Overview • Highlights • Revenue of $144.0M • Cash flow from operations of $107.9M • Net income of $63.4M, or $0.97/share • $0.88/share after adjustments1 • $24.6M dividends paid • $100M repayment on revolving credit facility • Available liquidity of approximately $702M • Notable recent devel
Slide 5: Q2 2023 Revenue $144.0M
Q2 2023 Revenue GEOs2 of 72,900 and revenue of $144.0 million Royalty Segment Stream Segment $38.0M $106.0M 26% -9% YoY +1% YoY Higher contribution $144.0M Higher contribution from Cortez Legacy from Pueblo Viejo Zone Lower contribution Lower contribution 74% from Mount Milligan, from Peñasquito and
Slide 6: Operator Updates
Operator Updates3 Mount Milligan • Mining of transitional ore now complete • Higher grade ore targeted in H2 2023 • On track to achieve 2023 guidance: • Low end of 160,000 – 170,000 oz gold, midpoint of 60 – 70M lb copper Pueblo Viejo • Commissioning of plant expansion continuing • Silver deliveries
Slide 7: Q2 2023 Revenue
Q2 2023 Revenue TOTAL REVENUE AVERAGE METAL PRICES* Q2 2023 REVENUE BY METAL +6% -2% +7% -11% $146.4M $144.0M $1,871 $1,976 $22.60 $24.13 $4.31 6% COPPER 77% $3.84 GOLD 15% SILVER Q2 '22 Q2 '23 Q2 '22 Q2 '23 Q2 '22 Q2 '23 Gold Silver Copper Others Q2 '22 Q2 '23 Gold Silver Copper * LBMA PM fixing pr
Slide 8: Financial Results
Q2 2023 Financial Results • $144.0M revenue • $9.1M G&A • $38.4M DD&A, or $527/GEO2 • $8.4M interest expense • 3.1% effective tax rate • $63.4M net income, or $0.97/share • $57.2M net income, or $0.88/share, adjusted1 to exclude: • $(0.5)M, or $(0.01)/share – change in fair value in equity securitie
Slide 9: June 30, 2023 Liquidity
June 30, 2023 Liquidity • $400M drawn on revolving credit facility • $100M repayment made June 6, 2023 • Approximately $702 of liquidity available: June 30, 2023 Amount (US$ M) Undrawn revolving credit facility 600 Working capital 102 Total available liquidity $702 • Material financial commitments:
Slide 10: Endnotes
Endnotes 1. Adjusted net income and adjusted net income per share are non-GAAP financial measures. See Schedule A to the accompanying press release dated August 3, 2023, for more information. 2. Gold Equivalent Ounces (“GEOs”) are calculated as reported revenue (in total or by reportable segment) fo
Slide 11: Investor Relations Contact
Tel. 303.573.1660 investorrelations@royalgold.com www.royalgold.com