Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — FY2013 Earnings Presentation
16 slides from Royal Gold's earnings presentation, Aug 8, 2013
Slide 1: Fourth Quarter and Fiscal 2013 Results
FOURTH QUARTER AND FISCAL 2013 RESULTS AUGUST 8, 2013 Page 1
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 m
Slide 3: Fiscal 2013 Highlights
Fiscal 2013 Highlights FY2013 Record Annual Revenue of $289M, up $350 400% from 2008 $300 Revenue ($USD Millions) $250 $200 $150 $100 Adjusted EBITDA ~90% of Revenue $50 Record Annual Revenue up 10% Adjusted EBITDA at 90% of Revenue1 40 Page 3
Slide 4: Agreement to Acquire 1.4% NSR Royalty at El Morro Copper Gold Project
El Morro In-Situ Metal Value and Grade of Undeveloped Copper Deposits1 1.0 Precious Metal Grade (Gold Equivalent g/t) 0.9 0.8 0.7 0.6 0.5 El Morro 0.4 0.3 0.2 0.1 0.0 0.0 0.5 1.0 1.5 2.0 2.5 Base Metal Grade (Copper Equivalent %)2 Agreement to Acquire 1.4% NSR Royalty at El Morro Copper 40 Gold Proj
Slide 5: Mt. Milligan Facilities - July 2013
Mt. Milligan Facilities - July 2013 Adjusted EBITDA ~90% of Revenue 40 Page 5
Slide 6: Mt. Milligan Primary Crusher - July 2013
Mt. Milligan Primary Crusher - July 2013 Adjusted EBITDA ~90% of Revenue 40 Page 6
Slide 7: Fiscal 2013 Highlights
Fiscal 2013 Highlights Production up ~15%, gold price down ~4% Net income of $69.2M or $1.09/share Reflects non-cash impairment taken in Q3 ($0.23 per share, net of tax) Effective tax rate of 46% (35% based on cash taxes paid) Dividend payout $43.9 million or 25% of operating cash flow 40 Page 7
Slide 8: Mt. Milligan Pebble Crusher & Admin - July 2013
Mt. Milligan Pebble Crusher & Admin - July 2013 Adjusted EBITDA ~90% of Revenue 40 Page 8
Slide 9: Mt. Milligan 40ft SAG Mill - July 2013
Mt. Milligan 40ft SAG Mill - July 2013 Adjusted EBITDA ~90% of Revenue 40 Page 9
Slide 10: Mt. Milligan Two 24ft Ball Mills - July 2013
Mt. Milligan Two 24ft Ball Mills – July 2013 Adjusted EBITDA ~90% of Revenue 40 Page 10
Slide 11: Mt. Milligan Flotation Circuit - July 2013
Mt. Milligan Flotation Circuit – July 2013 Adjusted EBITDA ~90% of Revenue 40 Page 11
Slide 12: Mt. Milligan Flotation & Regrind - July 2013
Mt. Milligan Flotation & Regrind – July 2013 Adjusted EBITDA ~90% of Revenue 40 Page 12
Slide 13: Cornerstone Property Update
Cornerstone Property Update Andacollo Royalty:1 75% of gold production (NSR) Est. CY 2013 Production:2 63k ozs (Au); CYTD: 37.4koz Steady operations, 47ktpd achieved in latest quarter Peñasquito Royalty: 2.0% NSR (Au, Ag,Pb,Zn) Est. CY 2013 Production:3 360koz to 400kozs (Au); CYTD: 149koz Ramp pote
Slide 14: Another Solid Year for Royal Gold
Another Solid Year for Royal Gold FY Revenue up 10% - on volume up 15% and gold price down 4% Maintained cost and capital allocation discipline Well positioned with $1 billion in available liquidity Acquisition of royalty at El Morro copper gold project Confidence in the long term value of Pascua La
Slide 15: Footnotes
Footnotes PAGE 3 HIGHLIGHTS the first 36 months of commercial production. 1. Adjusted EBITDA adjusted for one-time items, notably the 8. Royalty applies to all gold production from an area of IRC transaction which would have been reflected in the interest in Chile. March 2010 quarter. See press rele
Slide 16: 1660 Wynkoop Street Denver, CO 80202-1132 info@royalgold.com
1660 Wynkoop Street Denver, CO 80202-1132 303.573.1660 info@royalgold.com www.royalgold.com Page 16