Royal Gold, Inc. · NASDAQ:RGLD
Royal Gold — FY2020 Earnings Presentation
15 slides from Royal Gold's earnings presentation, Aug 6, 2020
Slide 1: Fourth Quarter and Fiscal Year 2020 Results
Fourth Quarter and Fiscal Year 2020 Results August 6, 2020 THE GOLD STANDARD IN PRECIOUS METAL INVESTING NASDAQ: RGLD
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 futur
Slide 3: Today's Speakers
Today’s Speakers Bill Heissenbuttel Paul Libner Mark Isto President and CEO CFO and Treasurer Executive VP and COO 3
Slide 4: Fiscal 2020 Overview
Fiscal 2020 Overview Highlights Revenue of $498.8M Volume of 320,000 GEOs1 $199.3M net income, or $3.03/share • $2.47/share, adjusted to exclude2: – $0.02/share gain on equity securities – $0.05/share stock compensation expense – $0.02/share royalty impairment expense – $0.61/share tax benefit $340.
Slide 5: Recent Developments: Khoemacau progress
Recent Developments Khoemacau progress3 Construction activities continuing to advance • Overall progress ~54% • Capital committed ~81% • First concentrate now expected late calendar Q3 2021 $11.1M contribution made July 5 • $146.8M total contribution to date • Remaining commitment of $65.2M to $118.
Slide 6: Recent Developments: Khoemacau progress
Recent Developments Khoemacau progress3 South boxcut decline South boxcut Central boxcut infrastructure 6
Slide 7: Recent Developments: Khoemacau progress
Recent Developments Khoemacau progress3 Administration area Camp area 7
Slide 8: Recent Developments: Khoemacau progress
Recent Developments Khoemacau progress3 Secondary & tertiary crusher Concentrate regrind area 8
Slide 9: Recent Developments: Mount Milligan, Peñasquito
Recent Developments Mount Milligan, Peñasquito as reported by the operators4 Operations returned to planned levels in May after COVID reductions Quarter-end water inventory at 6M m3 • Water exploration continuing through 2020 • Continuing work on long-term water plan 2020 calendar guidance maintaine
Slide 10: Fiscal Q4 Financial Results
Fiscal Q4 Financial Results $120.0M revenue $49.0M net income, or $0.75/share $0.53/share, adjusted to exclude2: • $0.10/share gain on fair value changes of equity securities • $0.17/share gain on tax • $0.02/share royalty impairment expense • $0.03/share tax effect on above adjustments $91.6M opera
Slide 11: Fiscal Q4 Liquidity
Fiscal Q4 Liquidity ~$1B of liquidity available at June 30, 2020 June 30, 2020 Amount (US$ M) Undrawn Revolving Credit Facility 695 Working capital 320 Total available liquidity $1,015 Khoemacau stream commitments: Completed 136 Remaining: CY 2020* 51 CY 2021 25 – 78 Total remaining commitments $76
Slide 12: Concluding Remarks
Concluding Remarks Record financial performance Portfolio performing well Increased dividend Funded growth Maintained strong balance sheet and liquidity Positioned to act on new business opportunities 12
Slide 13: Endnotes
Endnotes THE GOLD STANDARD IN PRECIOUS METAL INVESTING
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: Royal Gold contact details
1144 15th St, #2500 Denver, Colorado 80202 303.573.1660 www.royalgold.com THE GOLD STANDARD IN PRECIOUS METAL INVESTING NASDAQ: RGLD