Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — Q1 2022 Earnings Presentation
11 slides from Royal Gold's earnings presentation, May 5, 2022
Slide 1: First Quarter 2022 Results
First Quarter 2022 Results May 5, 2022
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 Mark Isto Bill Heissenbuttel Paul Libner Executive VP and COO, President and CEO CFO and Treasurer Royal Gold Corp. ROYAL GOLD, INC. | Q1 2022 RESULTS | MAY 5, 2022 3
Slide 4: Q1 2022 Overview
Q1 2022 Overview • Highlights • Revenue of $162.4M • Cash flow from operations of $101.1M • Net income of $65.7M, or $1.00/share • $0.99/share after adjustments1 • $23.0M dividends paid • Debt free with $183.7M of cash and ~$1.2B total available liquidity • Notable recent developments • Included in
Slide 5: Q1 2022 Revenue $162.4M
Q1 2022 Revenue Solid portfolio performance provided GEOs2 of 86,500 and revenue of $162.4 million Royalty Segment Stream Segment $57.1M $105.3M 35% +21% YoY +10% YoY Higher contribution $162.4M Higher contribution from Cortez and from Mount Milligan initial contribution 65% and initial contribution
Slide 6: Operator Updates
Operator Updates3 Khoemacau4 • Ramp-up proceeding well: • Q1 mining rate increased steadily to ~5,700 t/d in March • On track for 10,000 t/d full production by Q4 2022 • Liquidity expected to be sufficient to reach full production Mount Milligan • Increase in 2021 resources after infill drilling pro
Slide 7: Operator Updates
Operator Updates3 Cortez • Dec. 31, 2021 gold reserves: 4.1M oz (61.6Mt at 2.08 g/t), comprised of 3.0M oz at Crossroads/Pipeline and 1.1M oz at Goldrush • Production profile provided for Crossroads/Pipeline royalty areas: • 2022: 280,000 oz; 2022-2026 average: 332,000 oz/yr • Royal Gold interest eq
Slide 8: Q1 2022 Financial Results
Q1 2022 Financial Results TOTAL REVENUE AVERAGE REALIZED METAL PRICES Q1 2022 REVENUE BY METAL +5% +17% +5% +9% COMMODITY PRICE VOLUMES* $1,794 $1,877 $26.26 -9% $4.53 14% 71% GOLD $24.01 COPPER $3.86 $162.4M +14% $142.6M 10% SILVER Q1 2021 Q1 2022 Q1'21 Q1'22 Q1'21 Q1'22 Q1'21 Q1'22 Gold Silver Cop
Slide 9: March 31, 2022 Liquidity
March 31, 2022 Liquidity • ~$1.2B of liquidity available at March 31, 2022 • $0M debt drawn as of March 31, 2022 March 31, 2022 Amount (US$ M) Undrawn revolving credit facility 1,000 Working capital 209 Total available liquidity $1,209 • Outstanding near-term commitments: • $6.8M potential explorati
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 May 4, 2022, for more information. 2. Gold Equivalent Ounces (“GEOs”) are calculated as reported revenue (in total or by reportable segment) for a
Slide 11: Tel. 303.573.1660 investorrelations@royalgold.com www.royalgold.com
Tel. 303.573.1660 investorrelations@royalgold.com www.royalgold.com