Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — Q3 2021 Earnings Presentation
15 slides from Royal Gold's earnings presentation, Nov 4, 2021
Slide 1: September Quarter 2021 Results
September Quarter 2021 Results November 4, 2021
Slide 2: Cautionary Statement
Cautionary Statement 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 future
Slide 3: Today's Speakers
Today’s Speakers Mark Isto Bill Heissenbuttel Paul Libner Executive VP and COO, President and CEO CFO and Treasurer Royal Gold Corp. ROYAL GOLD, INC. | SEPTEMBER QUARTER 2021 RESULTS | NOVEMBER 4, 2021 3
Slide 4: September Quarter 2021 Overview
September Quarter 2021 Overview • Highlights for the quarter • Record revenue of $174.4M on record volume of 97,400 GEOs1 • Net income of $70.2M, or $1.07/share • Record $129.9M cash flow from operations • $0.30/share dividends paid • $100M of debt, $160M of cash, ~$1.1B total available liquidity •
Slide 5: September Quarter Revenue $174.4M
September Quarter Revenue Strong portfolio performance provided record revenue of $174.4 million and record GEOs1 of 97,400 Royalty Segment Stream Segment $58.5M $115.9M 34% +45% YoY +9% YoY $174.4M Cortez contribution of First contributions $17M, up 201% year from Khoemacau on year 66% and NX Gold
Slide 6: Recent Developments: Khoemacau progress
Recent Developments • Khoemacau progress3 • Transitioning from construction to operations: • Mining of first stopes started in September • Orebody widths and grades as expected • Plant throughput reached nameplate capacity for discrete periods using stockpiled ore • Concentrate quality meets offtake
Slide 7: Recent Developments
Recent Developments • Khoemacau progress3 ROYAL GOLD, INC. | SEPTEMBER QUARTER 2021 RESULTS | NOVEMBER 4, 2021 7
Slide 8: Recent Developments
Recent Developments • Khoemacau progress3 ROYAL GOLD, INC. | SEPTEMBER QUARTER 2021 RESULTS | NOVEMBER 4, 2021 8
Slide 9: Red Chris Mine Royalty
Red Chris Mine Royalty4 ROYAL GOLD, INC. | SEPTEMBER QUARTER 2021 RESULTS | NOVEMBER 4, 2021 9
Slide 10: Recent Developments: NX Gold and Côté Gold
Recent Developments4 • NX Gold Mine • First gold deliveries received • Highlights of continued exploration activity: • Santo Antonio Vein infill and extension drilling confirms continuity, remains open at depth • Matinha Vein drilling extends limits of mineralization with parallel structure at depth
Slide 11: September Quarter Financial Results
September Quarter Financial Results • $174.4M revenue • Volume of 97,400 GEOs1 • Revenue split: 73% gold / 14% copper / 10% silver / 3% other • $70.2M net income, or $1.07/share • $70.0M, adjusted to exclude2: • $129,000 gain on fair value of equity securities (net of tax) • $129.9M cash flow from o
Slide 12: Guidance
Guidance5 6 Month Stub Period July 1 - Dec. 31, 2021 Total GEO sales 180,000 – 190,000 GEO* DD&A1 $525 – 575 / GEO* Effective tax rate 18 – 22% * Commodity price assumptions for 6 month GEO projections include: $1,750/oz Au, $25.50/oz Ag, $4.15/lb Cu, $8.00/lb Ni, $0.95/lb Pb, $1.25/lb Zn ROYAL GOLD
Slide 13: September 30, 2021 Liquidity
September 30, 2021 Liquidity • ~$1.1B of liquidity available at September 30, 2021 September 30, 2021 Amount (US$ M) Undrawn revolving credit facility 900 Working capital 172 Total available liquidity $1,072 • $50M revolving credit facility repaid October 8, 2021 • $950M capacity available • Outstan
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: Tel. 303.573.1660 investorrelations@royalgold.com www.royalgold.com
Tel. 303.573.1660 investorrelations@royalgold.com www.royalgold.com