Slide 1: Fourth Quarter and Year End Fiscal 2014 Results
Fourth Quarter and Year End Fiscal 2014 Results August 7, 2014
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains certain forward‐looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward- looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ
Slide 3: Today's Speakers
Today’s Speakers Tony Jensen Bill Zisch Stefan Wenger President and CEO VP Operations CFO and Treasurer August 7, 2014 3
Slide 4: Fiscal 2014 Highlights
Fiscal 2014 Highlights Three straight quarters of Mt. Milligan volume growth – Our largest revenue generator as of the fiscal 4th (June) quarter New business added: – Gold stream at Rubicon Minerals’ Phoenix project – Gold royalty on southern end of Barrick’s Goldrush project – Expansion of current
Slide 5: Strong Near Term Growth
Strong Near Term Growth What Mt. Milligan will deliver on a What Mt. Milligan will contribute to our quarterly basis 1 total GEO’s 2 300,000 Full Projected Quarterly Run Rate June 2014 Quarter - Actual 200,000 Mt Milligan Mar 2014 Quarter - Actual Dec 2013 Quarter - Actual Other 100,000 0 10 20 30 4
Slide 6: Production and Revenue Waterfall
Production and Revenue Waterfall Revenue Waterfall vs Prior Quarter Production Waterfall vs Prior Quarter $70 55 Thousands of Gold Equivalent Ounces $65 $SUD Millions 50 $60 45 $55 $50 40 August 7, 2014 6
Slide 7: Mt. Milligan Ramp Up and Phoenix construction
Mt. Milligan Ramp Up and Phoenix construction Mt. Milligan Phoenix Source: Thompson Creek Metals, August 6, 2014 Average daily throughput of about 48,000 Development of underground infrastructure tonnes per day for the month of June 2014 related to ventilation and ore transport Record daily mill thr
Slide 8: CY 2014 Estimated Production Subject to our Interest and CYTD Actuals
CY 2014 Estimated Production Subject to our Interest and CYTD Actuals Calendar 2014 Operator’s Production Reported Production through Estimate(1) June 30, 2014 (2) Gold Silver Base Metals Gold Silver Base Metals Royalty/Stream (oz.) (oz.) (lbs.) (oz.) (oz.) (lbs.) Andacollo (3) 38,500 - - 20,500 - -
Slide 9: Financial Highlights & Outlook
Financial Highlights & Outlook Reported net income of $0.96 per share, down 12% from a year ago despite a 19% decline in gold price Adjusted EBITDA of $3.11 per basic share, or 85% of revenue Cash dividends of $53.4 million – Payout ratio of 36% of operating cash flow – Our 13th straight year of inc
Slide 10: Financial Strength
Financial Strength Strong Balance Sheet and Cash Flow in an Attractive Market Liquidity at $714M Working Capital $450M Undrawn Credit 6/30/2014 Debt and $370M convertible Commitments debt 2019 @2.875% * LTM Operating Cash $147M Flow $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $USD Millions * Include
Slide 11: Next Phase of Growth Underway
Next Phase of Growth Underway Mt. Milligan ramping up and generating returns for shareholders Over $1 billion uncommitted Quality interests added at Phoenix, Goldrush and Cortez Attractive market environment where royalty and stream products offer a compelling cost of capital August 7, 2014 11
Slide 12: Endnotes
Endnotes World Class Royalty Company <3 Ip ROYALGOLD,INC
Slide 13: Endnotes
Endnotes PAGE 5 STRONG NEAR TERM GROWTH 1. Full run rate Mt. Milligan Gold Deliveries considers estimated production of 262,000 ounces of gold annually during the first six years; 195,000 ounces of gold thereafter, per Thompson Creek’s National Instrument 43-101 technical report filed on SEDAR, unde
Slide 14: Appendix A: Property Portfolio
Appendix A: Property Portfolio
Slide 15: Financially Robust: Diverse Portfolio of Assets
Financially Robust Diverse Portfolio of Assets August 7, 2014 15
Slide 16: Royal Gold contact details
1660 Wynkoop Street Denver, CO 80202-1132 303.573.1660 info@royalgold.com www.royalgold.com