Gold reserves1 increase 7.0% to 83.9
million ounces
Silver reserves1 increase 4.0% to 1.4
billion ounces
Royal Gold, Inc.(NASDAQ: RGLD)(TSX: RGL) today announced
updated estimates for ore reserves and mineralized material2
as of December 31, 2010, and calendar 2011 production for its royalty
portfolio. These are the most recent figures provided to the Company by
the operators of its royalty properties or have been obtained by Royal
Gold through publicly available information.
At the end of calendar 2010, precious metals reserves subject to the
Company's royalty interests were approximately 83.9 million ounces of
gold and 1.4 billion ounces of silver. Net of depletion, this reflects a
gain of 5.4 million ounces of gold and 53 million ounces of silver,
representing a 7.0% increase in gold reserves and a 4.0% increase in
silver reserves, over the prior calendar year-end.
Tony Jensen, President and Chief Executive Officer, commented, "This
reserve growth is due to a combination of the success our royalty
operators had in converting resources into reserves and our ability to
add new properties to our royalty portfolio during the year, driven
largely by the Mt. Milligan acquisition. The reserve additions from this
property are significant to Royal Gold as we are entitled to 25% of the
gold reserves at Mt. Milligan."
RESERVE AND PRODUCTION INFORMATION
The attached table contains production information related to our
producing royalty interests. The complete Royalty
Portfolio, which includes reserves, mineralized material2,
and production subject to the Company's royalty interests on producing
and development properties can be found on our website under the
royalties section.
For further information about our royalty interests, please see our
Annual Report on Form 10-K, as well as our other public reports.
CORPORATE PROFILE
Royal Gold is a precious metals royalty company engaged in the
acquisition and management of precious metal royalties and similar
interests. The Company's current portfolio consists of 187 properties on
six continents, including interests on 35 producing mines and 24
development stage projects. Royal Gold is publicly traded on the NASDA