Royal Gold’s Q3 sales in-line with guidance (NASDAQ:RGLD)

Royal Gold (RGLD +6.2%) reports says its RGLD Gold subsidiary sold ~62K gold equiv. oz. related to its streaming agreements during the March quarter, in line with previous guidance of 60K-65K gold equiv. oz.

Sales comprised ~50K gold oz., 466K silver oz. and 1,900 metric tons of copper.

The company says it had 27K gold equiv. oz. in inventory at the end of FQ3, consisting of 22K gold oz. and 436K silver oz.

RGLD Gold’s average realized gold price for the quarter was $1,569/oz., silver was $17.79/oz. and copper was $5,493/mt.

Royal Gold notes several of its operating counterparties have temporarily suspended operations due to Covid-19.

Also, the company says it drew an additional $200M on its revolving credit facility, resulting in a total of $305M outstanding and leaving $695M available.

Facebook Comments

Leave a Reply

Your email address will not be published. Required fields are marked *