Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — Q2 2024 Earnings Presentation
14 slides from Royal Gold's earnings presentation, Aug 8, 2024
Slide 1: Second Quarter 2024 Results
Second Quarter 2024 Results August 8, 2024
Slide 2: Cautionary Statements
Cautionary Statements Forward-Looking Statements: This presentation and the accompanying webcast include “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
Slide 3: Today's Speakers
Today’s Speakers Bill Heissenbuttel Paul Libner Martin Raffield Dan Breeze President and CEO Senior VP and CFO Senior Vice President, Operations Senior VP, Corporate Development RGLD Gold AG ROYAL GOLD, INC. | SECOND QUARTER 2024 RESULTS | AUGUST 8, 2024 3
Slide 4: Q2 2024 Overview
Q2 2024 Overview • Highlights • Revenue of $174.1M • Cash flow from operations of $113.5M • Net income of $81.2M, or $1.23/share • $1.25/share after adjustments1 • $26.3M dividends paid • $100M repaid on revolving credit facility • Balance sheet returned to net cash position • Available liquidity of
Slide 5: Acquisition of Additional Back River Royalties
Acquisition of Additional Back River Royalties Royalties acquired for $51M cash consideration: Both royalties cover all reserves, resources and potential extensions thereof on the Back River Gold 1. Hill royalty District: • 0.7% NSR until receipt of C$5M royalty revenue, 0.35% NSR thereafter 2. KM r
Slide 6: Back River Production and Reserve & Resource Estimates
Back River Production and Reserve & Resource Estimates Goose Project Production Guidance(i) Back River District Reserves and Resources 350 Tonnes Gold Grade Contained +310k oz +310k oz +310k oz +310k oz (M) (g/t) Gold 300 (M oz) Gold Production Forecast 250 P&P Reserves(ii) 18.7 5.97 3.6 M&I Resourc
Slide 7: Q2 2024 Revenue
Q2 2024 Revenue GEOs2 of 74,500 Royalty Segment Stream Segment $51.1M $123.0M 29% +34% YoY +16% YoY Higher contribution $174.1M Higher contribution from Peñasquito and Total Revenue from Mount Milligan, Robinson Andacollo, Wassa Lower contribution from 71% and Xavantina Cortez Legacy Zone Lower cont
Slide 8: Operator Updates
Operator Updates3 Mount Milligan • Preliminary Economic Assessment on target for H1 2025 completion • Includes review of tailings capacity, exploration and site optimization • 2024 guidance unchanged: 180,000 – 200,000 oz gold, 55 – 65M lb copper Pueblo Viejo • H2 2025 focus on recovery rate optimiz
Slide 9: Operator Updates
Operator Updates3 Peñasquito • Strong mill performance and higher gold and zinc production from Chile Colorado pit in Q2 • Q3 production levels expected to remain steady • Gold production expected to increase with higher gold grades from Peñasco pit in Q4 Khoemacau • Equipment availability and turno
Slide 10: Q2 2024 Revenue
Q2 2024 Revenue TOTAL REVENUE AVERAGE METAL PRICES* Q2 2024 REVENUE BY METAL +21% +18% +20% +15% $2,338 $174.1M 10% 74% $4.42 $28.84 $1,976 COPPER $3.84 GOLD $144.0M $24.13 13% SILVER Q2 '23 Q2 '24 Q2 '23 Q2 '24 Q2 '23 Q2 '24 Q2 '23 Q2 '24 Gold Silver Copper Others Gold Silver Copper * LBMA PM fixin
Slide 11: Q2 2024 Financial Results
Q2 2024 Financial Results • $174.1M revenue • $10.5M G&A • $35.7M DD&A, or $480/GEO2 • $2.5M interest expense • 18.9% effective tax rate • $81.2M net income, or $1.23/share • $82.6M net income, or $1.25/share, adjusted1 to exclude: • $1.3M, or $0.02/share – discrete tax expense • $113.5M operating c
Slide 12: June 30, 2024 Liquidity
June 30, 2024 Liquidity • $50M drawn on revolving credit facility at June 30, 2024 • $100M repayments made during Q2 • Approximately $1B of liquidity available: June 30, 2024 Amount (US$ M) Undrawn revolving credit facility 950 Working capital 11 Total available liquidity $961 • Revolving credit fac
Slide 13: 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 7, 2024, for more information. 2. Gold Equivalent Ounces (“GEOs”) are calculated as reported revenue (in total or by reportable segment) fo
Slide 14: Investor Relations contact details
Tel. 303.573.1660 investorrelations@royalgold.com www.royalgold.com