DENVER--(BUSINESS WIRE)--
Royal Gold, Inc. (NASDAQ:RGLD; TSX: RGL) announces that its
wholly owned subsidiary, RGLD Gold AG (“Royal Gold” or the “Company”)
received approximately 26,200 ounces of gold for the quarter ended March
31, 2015 from the Mount Milligan mine as part of its purchase and sale
agreement with Thompson Creek Metals Company, Inc. (“Thompson Creek”).
Royal Gold currently sells most of the delivered gold within three weeks
of receipt, and recognizes revenue on its streaming transactions when
the metal received is sold. For the quarter ended March 31, 2015, Royal
Gold sold approximately 24,200 ounces of gold from Thompson Creek, which
is a nearly 70% increase over the December quarter. In addition, Royal
Gold had approximately 6,800 ounces remaining in inventory as of March
31, 2015.
At March 31, 2015, Royal Gold had one provisionally priced final
shipment outstanding, which was the 75% balance on shipment 12. That
balance of approximately 5,000 ounces was not received as of March 31,
and was not included in inventory. Hereafter, all deliveries to Royal
Gold will be based solely on final settlement timing and volumes,
subject to Thompson Creek’s smelter contracts, which can take three to
five months after concentrate is produced at the mine.
The Company notes that Thompson Creek reported production for Mount
Milligan of approximately 46,119 ounces of payable gold and sales of
approximately 36,750 ounces of payable gold in the quarter ended March
31, 2015.
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 about the
Company’s receipt of gold from Thompson Creek in periods after March 31,
2015 and the time between the Company’s receipt of gold and the
Company’s sale of such gold. Factors that could cause actual results to
differ materially from the projections include, among others, the timing
of shipments, disagreements on assays, losses in transport, performance
of and production at Mount Milligan; decisions and activities of
Thompson Creek; changes in project parameters and timelines as plans
continue to be refined; economic and market conditions; unanticipated
grade, geological, metallurgical, processing, regulatory and legal or
other problems Thompson Creek may encounter; and other subsequent
events, as well as other factors described in the Company's Annual
Report on Form 10-K, Quarterly Reports 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.
Source: Royal Gold