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Royal Gold Reports Third Quarter 2019 Results
DENVER, COLORADO. MAY 1, 2019: ROYAL GOLD, INC. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) reports net income of
$28.8 million, or $0.44 per share, on revenue of $109.8 million in its fiscal third quarter ended March 31, 2019 (“third quarter”).
“We delivered another solid quarter with several positive developments in our portfolio,” commented Tony Jensen, President and CEO. “Most notably, we were pleased that amendments were granted to the Mount Milligan environmental assessment certificate that should relieve water supply constraints on mill operations, which Centerra expects to return to full capacity starting mid-May. We were also pleased to see that improvements at Rainy River continued, with mill availability increasing to 89% and gold recovery at 90% for the quarter.”
“In February, we announced an agreement to acquire a silver stream on the Khoemacau Copper Project in Botswana. This is a high-quality and long-life development project that will fit nicely into our portfolio and add another component of growth to our portfolio over the next several years. We expect to fund this acquisition from cash flow or the currently undrawn $1 billion revolving credit facility, which will leave us well positioned with a strong balance sheet as we evaluate more opportunities in what is currently an active business development environment.”
The following information was filed by Royal Gold Inc (RGLD) on Wednesday, May 1, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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