Royal Gold Reports Third Quarter 2018 Results



(together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) reports a net loss of $153.7 million, or ($2.35) per share, on revenue of $116.0 million in its fiscal third quarter ended  March 31, 2018 (“third quarter”).  Third quarter reported earnings include non-cash charges of $184.9 million, net of tax.  Absent these impacts, adjusted net income(1) was $31.3 million, or $0.48 per share, up 32% from the prior year quarter.


Third Quarter Highlights Compared to Prior Year Quarter:


·      Revenue of $116 million, an increase of 8%

·      Operating cash flow of $105 million, an increase of 37%

·      Volume of 87,300 GEOs,(2) in line with the prior year quarter

·      Dividends paid of $16 million, an increase of 5%

·      Additional $75 million repaid on revolving credit facility

·      Average gold price of $1,329 per ounce, an increase of 9%


“We delivered another quarter of solid operating performance, which included our first full quarter sales of gold and silver from Rainy River,” commented Tony Jensen, President and CEO.  “While a non-cash impairment from Pascua-Lama impacted our reported earnings, we continue to believe that the project presents significant option value for Royal Gold shareholders.  In the near term, we look forward to improved production from Rainy River as it continues to mature, as well as growth from the Peñasquito Pyrite Leach Project and Cortez Crossroads, which are both expected to begin production late this calendar year.”


Recent Developments


Peak Gold Joint Venture


As of April 24, 2018, Royal Gold, through its wholly owned subsidiary, Royal Alaska, LLC, owns a 40% interest in and manages the Peak Gold Joint Venture (“Peak Gold JV”), for exploration and development of the Peak Gold Project located near Tok, Alaska.  CORE Alaska, LLC, a wholly


The following information was filed by Royal Gold Inc (RGLD) on Thursday, May 3, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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