Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — Q4 2021 Earnings Presentation
13 slides from Royal Gold's earnings presentation, Feb 17, 2022
Slide 1: December Quarter 2021 Results
December Quarter 2021 Results February 17, 2022
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. | DECEMBER QUARTER 2021 RESULTS | FEBRUARY 17, 2022 3
Slide 4: Transition Period Overview (July to December 31, 2021)
Transition Period Overview (July 1 to December 31, 2021) • Highlights • Revenue of $343.0M on volume of 191,300 GEOs1 • Cash flow from operations of $248.8M • Net income of $138.3M, or $2.10/share • $2.11/share after adjustments2 • $39.4M dividends paid • Repaid $100M of debt • Debt free with $143.6
Slide 5: Transition Period Production
Transition Period Production GEO1 volume exceeded the revised guidance range due to strong portfolio performance • Guidance range revised upward in 6-Month Transition Period November 2021 after record production Guidance and Actual (GEOs ‘000s) Production in the September quarter 200 Thousands • Gui
Slide 6: December Quarter Revenue
December Quarter Revenue Solid portfolio performance provided revenue of $168.5 million and GEOs1 of 93,900 Royalty Segment Stream Segment $57.9M $110.6M 34% +14% YoY +3% YoY Higher contributions $168.5M Higher contributions from Cortez, Voisey’s from Khoemacau Bay and Leeville and NX Gold 66% Lower
Slide 7: Recent Developments: Khoemacau progress
Recent Developments • Khoemacau progress3 • Transition to operations continues: • Construction of all surface infrastructure complete • Process plant performing to expectations • Mine operations impacted by skilled operator shortages due to COVID-19 • Orebody widths and grades as expected • Total fu
Slide 8: Recent Developments: Mount Milligan and NX Gold
Recent Developments4 • Mount Milligan • 2022 production guidance: • 190k oz to 210k oz gold • 70 to 80M lb copper • Updated NI 43-101 technical report expected in second quarter • NX Gold Mine • December 31, 2021, reserves and resources: • +25% Proven and Probable Reserves • +32% Measured and Indica
Slide 9: December Quarter Financial Results
December Quarter Financial Results • $168.5M revenue • Volume of 93,900 GEOs1 • Approximate revenue split: 73% gold / 12% silver / 10% copper / 4% other • $68.2M net income, or $1.04/share • $1.05/share after adjustment2 to exclude change in the fair value of equity securities • $119.0M cash flow fr
Slide 10: Transition Period Performance Compared to Guidance
Transition Period Performance Compared to Guidance • Positive performance relative to transition period guidance Transition Period (July 1 – Dec. 31, 2021) Guidance* Actual Driver Total GEO1 sales GEO 180,000 – 191,300 Strong portfolio performance 190,000** DD&A/GEO1 $ / GEO $525 – 575 $521 Higher G
Slide 11: December 31, 2021 Liquidity
December 31, 2021 Liquidity • ~$1.2B of liquidity available at December 31, 2021 December 31, 2021 Amount (US$ M) Undrawn revolving credit facility 1,000 Working capital 155 Total available liquidity $1,155 • $50M revolving credit facility repaid December 8, 2021 • $1B capacity undrawn and available
Slide 12: 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 13: Tel. 303.573.1660 investorrelations@royalgold.com www.royalgold.com
Tel. 303.573.1660 investorrelations@royalgold.com www.royalgold.com