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Royal Gold Provides Update on its Q2 2022 Stream Segment Sales
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Royal Gold, Inc. (NASDAQ: RGLD) reported the sale of approximately 56,100 gold equivalent ounces (GEOs) for the second quarter ending June 30, 2022. This includes about 40,200 gold ounces, 550,000 silver ounces, and 1,800 tonnes of copper. The average realized prices were $1,876 for gold, $23.44 for silver, and $9,124 for copper. Cost of sales was approximately $425 per GEO. As of June 30, 2022, the Company had about 28,800 GEOs in inventory, comprising 24,000 gold ounces and 403,100 silver ounces.
Positive
Sold approximately 56,100 GEOs in Q2 2022, enhancing revenue potential.
Achieved higher average realized prices for gold ($1,876) and silver ($23.44) compared to the previous quarter.
Negative
Cost of sales increased to approximately $425 per GEO from $401 per GEO in the prior quarter.
Decrease in average realized copper prices to $9,124 per tonne from $10,063 per tonne.
DENVER--(BUSINESS WIRE)--
Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that its wholly owned subsidiary, RGLD Gold AG, sold approximately 56,100 gold equivalent ounces (GEOs)1 comprised of approximately 40,200 gold ounces, 550,000 silver ounces and 1,800 tonnes of copper related to its streaming agreements during the three-month period ended June 30, 2022 (the “second quarter”). The Company had approximately 28,800 GEOs in inventory at June 30, 2022, consisting of 24,000 gold ounces and 403,100 silver ounces.
RGLD Gold AG’s average realized gold, silver and copper prices for the second quarter were $1,876 per ounce, $23.44 per ounce and $9,124 per tonne ($4.14 per pound), respectively, compared to $1,863, $23.38 and $10,063 ($4.56), respectively, in the prior quarter ended March 31, 2022 (the “first quarter”). Cost of sales was approximately $425 per GEO for the second quarter, using the quarterly average silver-gold ratio of approximately 83 to 1 and copper-gold ratio of approximately 0.20 tonnes per ounce, compared to cost of sales of $401 per GEO in the first quarter. Cost of sales is specific to the Company’s streaming agreements and is the result of the Company’s purchase of gold, silver or copper for cash payments at a set contractual price, or a percentage of the prevailing market price of gold, silver or copper when purchased.
Corporate Profile
Royal Gold is a precious metals stream and royalty company engaged in the acquisition and management of precious metal streams, royalties and similar production-based interests. As of June 30, 2022, the Company owned interests on 185 properties on five continents, including interests on 41 producing mines and 19 development stage projects. Royal Gold is publicly traded on the Nasdaq Global Select Market under the symbol “RGLD.” The Company’s website is located at www.royalgold.com.
For further information, please contact:
Second Quarter 2022 Call Information:
Alistair Baker Vice President Investor Relations and Business Development (720) 554-6995
Note: Royal Gold’s results for the quarter ended June 30, 2022, will be released after the market closes on Wednesday, August 3, 2022, followed by a conference call on Thursday, August 4, 2022 at 12:00 p.m. Eastern Time (10:00 a.m. Mountain Time). The call will be webcast and archived on the Company’s website for a limited time.
