Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — FY2019 Earnings Presentation
12 slides from Royal Gold's earnings presentation, Aug 8, 2019
Slide 1: Fourth Quarter and Fiscal Year 2019 Results
NASDAQ: RGLD Fourth Quarter and Fiscal Year 2019 Results August 8, 2019
Slide 2: Cautionary Statement
NASDAQ: RGD 2 Cautionary Statement Cautionary “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements
Slide 3: Today's Speakers
NASDAQ: RGD Today’s Speakers 3 Tony Jensen President and CEO Bill Heissenbuttel CFO and VP Strategy Mark Isto VP Operations, Royal Gold Corporation
Slide 4: Fiscal 2019 Overview: Highlights
NASDAQ: RGD Highlights Volume of 335,000 GEOs1 Revenue of $423.1M, 78% from gold $253.2M cash flow from operations $93.8M earnings ($1.43/share) $67.5M in dividends, 19th consecutive annual increase Balance sheet continues to strengthen Reduced debt by $150M $900M of liquidity Well positioned for ne
Slide 5: Recent Developments: Khoemacau development progress
NASDAQ: RGD Recent Developments 5 Peñasquito Rainy River Khoemacau development progress2 Khoemacau $650M project financing closed — Final $85M equity: $70M RCF / $15M GNRI Groundbreaking ceremony held June 28 with President of Botswana Pre-construction works advancing: — Boxcuts, roads, water pipeli
Slide 6: Recent Developments: Mount Milligan, Rainy River
NASDAQ: RGD Recent Developments 6 Mount Milligan, Rainy River as reported by the operators3 Mill operations back to full capacity early May Quarterly average throughput of 53.6k tpd 60.6k tpd in June Work on long term water sources progressing 2019 guidance confirmed: 155-175k oz gold, 65-75M lb cop
Slide 7: Recent Developments: Peñasquito, Wassa
NASDAQ: RGD Recent Developments 7 Peñasquito, Wassa as reported by the operators3 Operations ramped back up in June Full Potential Program underway Grade improvement after Peñasco stripping 2019 forecast*: 165k oz gold, 25M oz silver, 180M lb lead, 245M lb zinc Positive exploration results across ea
Slide 8: Fiscal Q4 Financial Results
NASDAQ: RGD Fiscal Q4 Financial Results 8 $115.7M revenue Compared to fiscal Q4 2018: — GEO volume of 88,400 vs 89,000 — Prices: Au flat, Ag ↓10%, Cu ↓11% — 78% vs 72% revenue from stream segment $72.3M OCF $26.5M earnings G&A of $6.4M DD&A of $42.3M, or $479/GEO $(3.5)M equity mark-to-market 19.4%
Slide 9: Fiscal Q4 Liquidity
NASDAQ: RGD Repaid $370M of 2019 convertible notes $900M of liquidity available Cash of $119M, working capital of $121M $220M drawn on Revolving Credit Facility Fiscal Q4 Liquidity 9 June 30, 2019 Amount (US$ M) Undrawn Revolving Credit Facility 780 Working capital 121 Total available liquidity $901
Slide 10: Solid, Steady, Successful
NASDAQ: RGD Solid operating and financial performance Balance sheet continues to strengthen Excellent access to liquidity Board and management team positioned for success Solid, Steady, Successful 10 Jamie Sokalsky Independent Director; Former President and CEO, Barrick Gold Corporation Kevin McArth
Slide 11: Contact details
1660 Wynkoop Street, #1000 Denver, CO 80202 303.573.1660 info@royalgold.com www.royalgold.com NASDAQ: RGLD
Slide 12: Endnotes
NASDAQ: RGLD Endnotes 12 1. Gold Equivalent Ounces (“GEOs”) are calculated as revenue divided by the average gold price for the corresponding period. 2. Certain information in slide 5 was provided to the Company by Cupric Canyon Capital LP, the majority owner and developer of the Khoemacau Project a