DENVER--(BUSINESS WIRE)--
Royal Gold, Inc. (NASDAQ: RGLD; TSX: RGL), is announcing
updated estimates for ore reserves and mineralized material1
as of December 31, 2014. These figures are provided by the operators, or
obtained by Royal Gold through publicly available information, for
properties on which the Company holds royalties, streams and similar
interests.
At the end of calendar 2014, precious metals reserves on properties
subject to the Company’s interests were approximately 73.7 million
ounces of gold and 764.0 million ounces of silver. This compares to
reserves of approximately 78.4 million ounces of gold and 824.4 million
ounces of silver estimated as of December 31, 2013.
After applying the Company’s interests to the reserves noted above, net
gold reserves2 attributable to Royal Gold totaled
approximately 5.1 million ounces, compared with 5.3 million ounces at
year-end 2013. On a gold equivalent basis, using a ratio of
approximately 50:1 of silver to gold, precious metals reserves
attributable to Royal Gold totaled approximately 5.3 million ounces, on
a net reserve basis, compared with 5.6 million ounces for the same
period ended 2013. The reserve reductions were primarily due to
depletion.
The complete Royalty/Metal
Stream Portfolio, which includes the ore reserves and mineralized
material1 subject to the Company's interests on producing and
development properties, can be found on our website.
For further information about our royalties, metal streams and similar
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 and stream company engaged in
the acquisition and management of precious metal royalties, streams, and
similar production based interests. The Company owns interests on 196
properties on six continents, including interests on 38 producing mines
and 23 development stage projects. Royal Gold is publicly traded on the
NASDAQ Global Select Market under the symbol “RGLD,” and on the Toronto
Stock Exchange under the symbol “RGL.” The Company’s website is located
at www.royalgold.com.
Cautionary "Safe Harbor" Statement Under the Private Securities
Litigation Reform Act of 1995: With the exception of historical
matters, the matters discussed in this press release are forward-looking
statements that involve risks and uncertainties that could cause actual
results to differ materially from projections or estimates contained
herein. Such forward-looking statements include statements regarding
reserves and additional mineralization; reserves and additional
mineralization estimates provided by the operators or obtained by Royal
Gold through publicly available information; the sliding-scale features
of our royalty structure at certain of our properties; and estimates of
commencement of production at projects in development. Net gold and
metal reserves attributable to Royal Gold’s royalty, stream and other
interests are subject to certain assumptions and, like reserves, do not
reflect actual ounces that will be produced. Like any royalty, stream or
similar interest on a non-producing or not-yet-in-development project,
our interests on development projects are subject to certain risks, such
as the ability of the operators to bring the projects into production
and operate in accordance with their feasibility studies, and the
ability of Royal Gold to make accurate assumptions regarding valuation
and timing and amount of payments. In addition, many of our interests
are subject to risks associated with conducting business in a foreign
country, including application of foreign laws to contract and other
disputes, foreign environmental laws and enforcement and uncertain
political and economic environments. Factors that could cause actual
results to differ materially include, among others, changes in precious
metals prices, performance of and production at our royalty and stream
properties, decisions and activities of the operators of our royalty and
stream properties, mine completion, unanticipated grade, geological,
metallurgical, processing or other problems the operators of the mining
properties may encounter, changes in project parameters as plans
continue to be refined, economic and market conditions, and future
financial needs of our operators, as well as other factors described in
the Company’s Annual Report on Form 10-K, Quarterly Report on Form 10-Q,
and other filings with the Securities and Exchange Commission. Most of
these factors are beyond the Company's ability to predict or control.
The Company disclaims any obligation to update any forward-looking
statement made herein. Readers are cautioned not to put undue reliance
on forward-looking statements.
1 The U.S. Securities and Exchange Commission does not
recognize this term. Mineralized material is not part of proven and
probable reserves and may never be converted into reserves.
2 Net gold reserves are calculated net of per ounce payments
for the Company’s gold streams, such as Mount Milligan.
Source: Royal Gold, Inc.