DOCSLIB.ORG

Royal Gold Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Royal Gold Presentation Investor Presentation September 2020 THE GOLD STANDARD IN PRECIOUS METAL INVESTING NASDAQ: RGLD 1 Cautionary Statement Cautionary “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This presentation includes “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from these statements. Forward-looking statements are often identified by words like “will,” “may,” “could,” “should,” “would,” “believe,” “estimate,” “expect,” “anticipate,” “plan,” “forecast,” “potential,” “intend,” “continue,” “project,” or negatives of these words or similar expressions. Forward-looking statements include, among others, the following: statements about our expected financial performance, including revenue, expenses, earnings or cash flow; operators’ expected operating and financial performance, including production, deliveries, mine plans and reserves, development, cash flows and capital expenditures; planned and potential acquisitions or dispositions, including funding schedules and conditions; liquidity, financing and dividends; our overall investment portfolio; macroeconomic and market conditions including the impacts of COVID-19; prices for gold, silver, copper, nickel and other metals; potential impairments; or tax changes. Factors that could cause actual results to differ materially from these forward-looking statements include, among others, the following: a low-price environment for gold, silver, copper, nickel or other metals; operating activities or financial performance of properties on which we hold stream or royalty interests, including variations between actual and forecasted performance, operators’ ability to complete projects on schedule and as planned, changes to mine plans and reserves, liquidity needs, mining and environmental hazards, labor disputes, distribution and supply chain disruptions, permitting and licensing issues, contractual issues involving our stream or royalty agreements; risks associated with doing business in foreign countries; our ability to identify, finance, value and complete acquisitions; adverse economic and market conditions; the impacts of COVID-19; changes in laws or regulations governing us, operators or operating properties; changes in management and key employees; and other factors described in our reports filed with the Securities and Exchange Commission, including our Form 10-K for the fiscal year ended June 30, 2020, and subsequent Quarterly Reports on Form 10-Q. Most of these factors are beyond our ability to predict or control. Forward-looking statements in this presentation speak only as of the date on which this presentation was first published. We disclaim any obligation to update any forward-looking statements, except as required by law. Readers are cautioned not to put undue reliance on forward-looking statements. Third-Party Information: Certain information provided in this presentation, including production estimates for calendar 2020, has been provided to us by the operators of the relevant properties or is publicly available information filed by these operators with applicable securities regulatory bodies, including the Securities and Exchange Commission. Royal Gold has not verified, and is not in a position to verify, and expressly disclaims any responsibility for the accuracy, completeness or fairness of any such third-party information and refers the reader to the public reports filed by the operators for information regarding those properties. 2 Company Overview Opportunity to capture value in the precious metals sector without incurring many of the costs and risks associated with mining operations Dual Business Segments… …Across A Diverse, Gold-Focused Portfolio… …With Standout Performance Royalty Interests: An interest in real property that provides a 187 12 right to a percentage of revenue or metals PROPERTIES2 COUNTRIES2 $499M 320,000 produced from a mining project after, Canada deducting specified costs REVENUE3 GOLD EQUIVALENT OZ3 Producing Dominican Rep. Stream Interests: Development Chile A contractual arrangement to purchase metal production from a mining project at a Evaluation USA ~$1.0B (0.04)x predetermined price Exploration Ghana TOTAL LIQUIDITY2 NET DEBT/ADJ. EBITDA2 FY 2020 Revenue Split: Others 28% 72% ROYALTIES $9.2B 27/4 Gold Copper 4 2 STREAMS 79% MARKET CAP. EMPLOYEES/OFFICES 1 GOLD-FOCUS Siver Others 1 – FY2020 Revenue. 2 – As of June 30, 2020. 3 – FY2020. 4 – July 31, 2020 closing price of $139.93/sh. 3 Royal Gold: Core Attributes Differentiated model with disciplined capital management and a focus on shareholder returns UNIQUE ▪ Business model provides optionality to gold price and production and reserve growth MODEL ▪ Efficient model with high operating margin and revenue generation per employee DIVERSE ▪ Revenue 79% from gold, derived mostly from primary precious metals assets PORTFOLIO ▪ Global diversification with revenue from 42 producing properties CAPITAL ▪ Highly experienced technical and commercial team with strong record of adding growth DISCIPLINE ▪ Growth funded through cash flow and strategic use of debt, enhancing per share metrics FINANCIAL ▪ Well capitalized with ~$1B of liquidity (at June 30, 2020) and strong operating cash flow STRENGTH ▪ $1B credit facility provides low cost and flexible access to liquidity RETURNS ▪ Consistent commitment to pay a growing and sustainable dividend FOCUS ▪ Dividend CAGR of 18% 2001-2019, with attractive historical TSR 4 Royal Gold: Leverage to Gold with Market-Leading Return A stable, sustainable investment… …with a heritage of market outperformance (5/22/06 – 7/31/20) Indexed since the formation of the GDX 5.0 Beta vs. Gold Price 4.84 4.5 RGLD 1.60 Providing higher leverage GDX to gold… 4.0 Spot Gold β Gold SP500 3.5 DJIA 3.0 3.04 2.56 2.5 Beta vs. S&P 500 2.34 0.37 …with lower exposure to 2.0 general market risk β S&P 1.5 1.11 1.0 0.5 0.0 2006 2008 2010 2012 2014 2016 2018 2020 YTD Beta calculation for the period 4/1/10 – 3/31/20. Source: Bloomberg, FactSet 5 Gold: As an Investment Gold is a strategic asset… 20 Year CAGR Real estate As of December 31, 2019 Gold EM bonds • A market that has outperformed many key asset classes Private equity EM stocks over a number of periods US stocks Hedge funds • A market that has outperformed the generic commodity US bonds Foreign bonds basket into which it is placed Foreign stocks Cash • A market that offers significant liquidity Commodities 0% 2% 4% 6% 8% 10% 12% CAGR Stocks Bonds Alternatives Annualised return 10 20 Year Annualized Average Daily Broad-based Return commodity index Trading Volume 5 In US$ Gold vs. Broad Based returns Commodity Indices and Individual Commodities 0 Dec 1999-Dec 2019 -5 -10 Grains Agriculture Livestock S&P GSCI Bloomberg Commodity Index Silver Platinum Copper Gold PM fix Source: World Gold Council “The relevance of gold as a strategic asset” February 2020 6 Gold: As an Investment Negative debt US$tn Gold price US$ …offering unique performance advantages 20 1,600 Gold Price vs. 1,500 Negative 15 • Well positioned in a period of low interest rates and Yielding Debt 1,400 Monthly figures from political, economic and social uncertainty 10 1,300 9/1/15 to 12/31/19 • Offers a unique correlation with the broader equity 1,200 5 market in different return scenarios 1,100 • Experiences less volatility than many markets 1,000 2015 2016 2017 2018 2019 Global negative yielding debt Gold US$/oz Volatility of Gold, 10th most volatile S&P 500 stocks Correlation: Gold vs. Stock Indices S&P 500 Tech stocks US Stock Returns S&P up by more than 2σ Based on S&P Return Top 10 largest S&P 500 stocks And Stocks Environments Volatility measured from S&P GS Commodity Index As of 12/31/19 12/31/09 to 12/31/19 10th least volatile S&P 500 stocks S&P between ±2σ MSCI EM Index Gold (US$/oz) S&P down by more than 2σ MSCI EAFE Index S&P 500 Index -0.40 -0.20 0.00 0.20 0.40 0% 10% 20% 30% 40% 50% Correlation Ann. volatility Gold Commodities Source: World Gold Council “The relevance of gold as a strategic asset” February 2020 7 Royal Gold Offers Unique Exposure to Gold Exploration No Direct No Direct Exposure Portfolio Sustainable Upside / Exposure to Exposure to to Gold Diversification Dividend Optionality Operating Costs Capital Costs ETFs, Bars and Coins Senior Operating Companies Junior Operating Companies Development and Exploration Companies 8 Optionality Royal Gold seeks to provide exposure to resource growth and metal price optionality. Resource growth and mine life extensions can significantly enhance returns over time. Reserves & Resources* Mine Life Case Study Contained Gold M oz Years 2P Reserves Mulatos – Alamos Gold M&I Resources* 4.3 • Royal Gold acquired 1.5% NSR from Kennecott Minerals in Dec. 2005, 2M oz cap reached in March 2019 3.0 2.6 • Pre-tax return ~36%. Excess return from mine life extension 1.1 6.5 7 (2016 through 2025) and higher gold price 1.9 1.7 • Key to growth potential is exploration success and ability of the operator to find and convert resources to reserves and then to YE 2005 YE 2018 YE 2005 YE 2018 production Return Drivers Acquisition Return 1. Return on initial acquisition based on mine feasibility study at %age date of acquisition1 2. Additional return resulting from resource conversion and 25.1% 2 mine life extension 2.8% 3. Additional return resulting from exposure to higher gold price received over the extended mine life3 8.0% 1 - Initial Expectation based on 2P reserve processed at 15,000 t/d, assumed $450/oz flat gold price 2 - Resource Conversion based on actual production at $450/oz flat gold price 1. Initial Expectation 2. Resource Conversion 3. Gold Price 3 - Actual royalty revenue received * The terms “resources,” “measured resources,” and “indicated resources,” are not terms recognized by the Securities and Exchange Commission.
Load more

Recommended publications
  • Investor Presentation
    Investor Presentation May 2021 Cautionary Statement Cautionary “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This presentation includes “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from these statements. Forward-looking statements are often identified by words like “will,” “may,” “could,” “should,” “would,” “believe,” “estimate,” “expect,” “anticipate,” “plan,” “forecast,” “potential,” “intend,” “continue,” “project,” or negatives of these words or similar expressions. Forward-looking statements include, among others, the following: statements about our expected financial performance, including revenue, expenses, earnings or cash flow; operators’ expected operating and financial performance, including production, deliveries, mine plans and reserves, development, cash flows and capital expenditures; planned and potential acquisitions or dispositions, including funding schedules and conditions; liquidity, financing and shareholder returns; our overall investment portfolio; macroeconomic and market conditions including the impacts of COVID-19; prices for gold, silver, copper, nickel and other metals; potential impairments; or tax changes. Factors that could cause actual results to differ materially from these forward-looking statements include, among others, the following:
    [Show full text]
  • Royal Gold, Inc
    Ro y al Gold, Inc. World Class royalty Company 2011 2011 a nnual Rep o 1660 Wynkoop Street, Suite 1000 Denver, Colorado 80202 Rt www.royalgold.com 2011 AnnuAl RepoRt 28881cov.indd 1 9/26/11 3:50 PM World class World class Business Model Board of directors CoRpoRatE pRoFilE Royal Gold, Inc. owns and manages royalties and similar interests primarily Royal Gold owns a large portfolio of producing, development, evaluation on precious metals mines, with a focus on gold. The Company’s portfolio and exploration stage royalties and similar interests located in some of provides investors with a unique opportunity to capture value in the the world’s most prolific gold regions. Through this high quality portfolio, precious metals sector without incurring many of the costs and risks Royal Gold maintains upside potential through any exploration successes associated with mine operations. by the operators and benefits when new reserves are produced. A royalty is simply a right to receive a percentage of production from a The Company is guided by the experience of a senior executive mine. By acquiring a royalty, Royal Gold buys a percentage of the metal management team with expertise in the fields of geology, engineering, law produced from a given property in exchange for an initial payment, and finance. Our successful business model generates strong cash flow without assuming any responsibility for the actual mining operation. and high margins with a lower cost structure, providing shareholders with Another interest similar to a royalty is known as a metal stream. This a premium precious metals investment.
    [Show full text]
  • Royal Gold to Acquire Barrick Gold's Royalty Portfolio 7/31/2008 7:20:00 AM DENVER, July 31 /Prnewswire-Firstcall/ -- ROYAL GOLD, INC
    Royal Gold to Acquire Barrick Gold's Royalty Portfolio 7/31/2008 7:20:00 AM DENVER, July 31 /PRNewswire-FirstCall/ -- ROYAL GOLD, INC. (Nasdaq: RGLD; TSX: RGL), the leading precious metals royalty company, announced that it has entered into a definitive agreement to acquire a portfolio of royalties from Barrick Gold Corporation ("Barrick") for net cash consideration of $150 million and a restructuring of certain Royal Gold royalty positions at Barrick's Cortez Pipeline Mining Complex ("Cortez") in Nevada. The restructuring of these royalty positions will reduce the royalty burden on the undeveloped Crossroads deposit at Cortez while having only a minimal impact on Royal Gold's royalty revenue from the current production. The Barrick portfolio consists of royalties on 77 properties, including eight producing royalties, 20 development and evaluation stage properties, and 49 exploration projects. Over 75% of the portfolio consists of precious metals royalties. The purchase price for the acquisition will be paid from cash on hand. Royalty revenue generated from the Barrick portfolio in calendar 2007 was approximately $12 million. Revenues are expected to grow, assuming current commodity prices, as development stage projects commence production. The transaction is expected to be immediately accretive on all key financial measures. This royalty package complements Royal Gold's existing geographical royalty positions with significant growth into Canada and Australia. Terms of the Transaction Currently, Royal Gold holds four gold royalty interests at Cortez, consisting of two sliding-scale gross smelter return ("GSR") royalties ("GSR1 and GSR2"), a fixed rate GSR royalty ("GSR3") and a net value return royalty ("NVR1").
    [Show full text]
  • Wheaton Precious Metals' Form 40-F and Wheaton Precious Metals' Form 6-K Filed March 31, 2017, Both on File with the U.S
    THE HIGH MARGIN PRECIOUS METALS COMPANY May 2018 CAUTIONARY STATEMENTS CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS The information contained in this Presentation contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of Canadian securities legislation. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are strongly cautioned to carefully review the cautionary notes to this Presentation starting on page 53 and in particular: Note 1 at the end of this Presentation contains our cautionary note regarding forward-looking statements and sets out the material assumptions and risk factors that could cause actual results to differ, including, but not limited to, fluctuations in the price of commodities, the outcome of the challenge by the CRA of Wheaton Precious Metal’s tax filings, the absence of control over mining operations from which Wheaton Precious Metal purchases silver or gold, and risks related to such mining operations and continued operation of Wheaton Precious Metal’s Counterparties. Readers should also consider the section entitled “Description of the Business – Risk Factors” in Wheaton Precious Metal’s Annual Information Form and the risks identified under “Risks and Uncertainties” in Management's Discussion and Analysis for the period ended December 31, 2016, both available on SEDAR and in Wheaton Precious Metals' Form 40-F and Wheaton Precious Metals' Form 6-K filed March 31, 2017, both on file with the U.S.
    [Show full text]
  • Franco-Nevada Corp
    Franco-Nevada Corp. (FNV-T: C$43.35) November 21, 2013 Chris Lichtenheldt, CFA / (647) 253-1128 [email protected] BUY, Medium Risk Scott Morrison / (416) 350-3392 Dundee target: C$50.00 [email protected] Premium performance comes with a premium price Recommendation New Last Gold-focused royalty and streaming company… Rating: BUY - Target: C$50.00 - Risk: Medium - Franco-Nevada (“Franco”) is a gold-focused royalty and streaming company listed 2013 EPS 0.95 - on the TSX and NYSE under "FNV", with a market capitalization of $6.1 billion. 2014 EPS 0.94 - Company Data Franco has a portfolio of 369 royalty and streaming agreements, including both Price (11/20/13): C$43.35 producing and non-producing mineral and oil & gas assets, and an industry- 52-Week Range: C$33.05-58.67 Market Capitalization ($MM): US$6,092 leading balance sheet with Q3 2013 working capital of $891MM and no debt. Enterprise Value ($MM): US$5,302 Shares Outstanding - Basic (MM): 146.9 We view Franco’s portfolio as high-quality, with revenue derived from assets Shares Outstanding - Diluted (MM): 157.7 2013E Dividend Yield: 1.7% carrying an average cash operating margin of 35% during Q3 2013, and with 94% Avg Daily Volume (3 Mos) (000s): 811 of Franco’s revenue derived from assets with a cash operating margin of more Cash ($MM): US$790 Debt ($MM): US$0 than 20% (Dundee estimates). Furthermore, we forecast 2013 gold equivalent Working Capital ($MM): US$891 production of 228kozs could grow by +40% to 328kozs in 2017.
    [Show full text]
  • Investor Presentation
    Investor Presentation June 2021 Cautionary Statement Cautionary “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This presentation includes “forward-looking statements” within the meaning of U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from these statements. Forward-looking statements are often identified by words like “will,” “may,” “could,” “should,” “would,” “believe,” “estimate,” “expect,” “anticipate,” “plan,” “forecast,” “potential,” “intend,” “continue,” “project,” or negatives of these words or similar expressions. Forward-looking statements include, among others, the following: statements about our expected financial performance, including revenue, expenses, earnings or cash flow; operators’ expected operating and financial performance, including production, deliveries, mine plans and reserves, development, cash flows and capital expenditures; planned and potential acquisitions or dispositions, including funding schedules and conditions; liquidity, financing and shareholder returns; our overall investment portfolio; macroeconomic and market conditions including the impacts of COVID-19; prices for gold, silver, copper, nickel and other metals; potential impairments; or tax changes. Factors that could cause actual results to differ materially from these forward-looking statements include, among others, the following:
    [Show full text]
  • Royal Gold Inc
    ROYAL GOLD INC FORM 10-K (Annual Report) Filed 08/18/11 for the Period Ending 06/30/11 Address 1660 WYNKOOP STREET SUITE 1000 DENVER, CO 80202-1132 Telephone 3035731660 CIK 0000085535 Symbol RGLD SIC Code 6795 - Mineral Royalty Traders Industry Gold & Silver Sector Basic Materials Fiscal Year 06/30 http://www.edgar-online.com © Copyright 2012, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use. Use these links to rapidly review the document TABLE OF CONTENTS ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 30, 2011 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number 001-13357 Royal Gold, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 84-0835164 (State or Other Jurisdiction (I.R.S. Employer of Incorporation or Organization) Identification No.) 1660 Wynkoop Street, Suite 1000 Denver, Colorado 80202 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (303) 573-1660 Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered Common stock, $0.01 par value NASDAQ Global Select Market Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
    [Show full text]
  • Royal Gold Inc
    ROYAL GOLD INC FORM 8-K (Current report filing) Filed 05/02/13 for the Period Ending 05/02/13 Address 1660 WYNKOOP STREET SUITE 1000 DENVER, CO 80202-1132 Telephone 3035731660 CIK 0000085535 Symbol RGLD SIC Code 6795 - Mineral Royalty Traders Industry Gold & Silver Sector Basic Materials Fiscal Year 06/30 http://www.edgar-online.com © Copyright 2015, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 2, 2013 ROYAL GOLD, INC. (Exact name of registrant as specified in its charter) Delaware 001 -13357 84 -0835164 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 1660 Wynkoop Street, Suite 1000, Denver, CO 80202 -1132 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code 303 -573 -1660 (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 2.02 Results of Operation and Financial Condition On May 2, 2013, Royal Gold, Inc.
    [Show full text]
  • The Leading Precious Metals Royalty Company, Owns and Manages Royalties Primarily on Wednesday, November 5, 2008 Stanley Dempsey Computershare Trust Company, N.A
    Royal Gold, Inc. Inc. Gold, Royal 2008 Annual Report Th e Leading Precious Metals Royalty Company 2008 Annual Report 2008 Annual Report 1660 Wynkoop Street, Suite 1000 Denver, Colorado 80202-1132 www.royalgold.com Th e Leading Precious Metals Royalty Company CORPORATE PROFILE CORPORATE INFORMATION ANNUAL MEETING OFFICERS TRANSFER AGENT/REGISTRAR Royal Gold, Inc., the leading precious metals royalty company, owns and manages royalties primarily on Wednesday, November 5, 2008 Stanley Dempsey Computershare Trust Company, N.A. precious metals mines, with a focus on gold. Th e Company’s royalty portfolio provides investors with a 9:30 a.m. MST Executive Chairman Mailing addresses: unique opportunity to capture value in the precious metals sector without incurring many of the costs Oxford Hotel, Sage Room and risks associated with mine operations. 1600 Seventeenth Street Tony A. Jensen For standard U.S. postal mail Denver, CO 80202 President and Chief Executive Offi cer Computershare Trust Company, N.A. A royalty is simply a right to receive a percentage of production from a mine. By investing in a royalty, PO Box 43070 Royal Gold buys a percentage of the metal produced from a given property in exchange for a front end BOARD OF DIRECTORS Stefan Wenger Providence, RI 02940-3070 payment, without assuming any responsibility for the actual mining operation. Th us, the Company does not Chief Financial Offi cer and Treasurer Stanley Dempsey have to contribute to the operating and capital costs at the mines. Th is distinction is very important in the For overnight/express delivery: Executive Chairman Computershare Trust Company, N.A.
    [Show full text]
  • Royal Gold, Inc
    Use these links to rapidly review the document TABLE OF CONTENTS FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA PART IV Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 30, 2014 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number 001-13357 Royal Gold, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 84 -0835164 (State or Other Jurisdiction (I.R.S. Employer of Incorporation or Organization) Identification No.) 1660 Wynkoop Street, Suite 1000 Denver, Colorado 80202 (Address of Principal Executive Offices) (Zip Code) (303) 573-1660 Registrant's telephone number, including area code: Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered Common stock, $0.01 par value NASDAQ Global Select Market Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • Royalgoldar19 Edits-New Pagination V6.Indd
    DISCIPLINED SUCCESSFUL STRATEGY RESULTS ANNUAL REPORT 2019 ROYAL GOLD, INC. GOLD, ROYAL 2019 ANNUAL REPORT ANNUAL 2019 1660 WYNKOOP STREET, SUITE 1000 DENVER, COLORADO 80202 WWW.ROYALGOLD.COM TABLE OF CONTENTS BOARD OF DIRECTORS 1 Letter to Shareholders 24 Corporate Responsibility 4 Letter from the Chairman 26 Total Return to Shareholders 5 Key Elements of Our Business Strategy 27 Forward Looking Statements 6 Selected Financial Data 28 Glossary 7 Financial Highlights 29 Form 10-K 8 Portfolio Map Last Page of 10-K Corporate Information 10 Principal Producing Properties Inside Back Cover 18 Property Tables Board of Directors/Management 22 Property Table Footnotes Left to right: Christopher M.T. Thompson, William M. Hayes, Jamie C. Sokalsky, Tony A. Jensen, Ronald J. Vance, Sybil E. Veenman, C. Kevin McArthur CORPORATE PROFILE MANAGEMENT Royal Gold, Inc. acquires and manages precious metal Royal Gold owns a large portfolio of producing, streams and royalty interests, with a primary focus on gold. development, evaluation and exploration stage The Company’s portfolio provides investors with a unique royalties and streams located in some of the world’s most opportunity to capture value in the precious metals sector prolifi c gold regions. Approximately 91% of our reserves without incurring many of the costs and risks associated and 87% of Royal Gold’s fiscal 2019 revenue was with mine operations. derived from North America, the Dominican Republic and Chile. Precious metal streams are purchase agreements with mine operators that provide, in exchange for a lump Gold attributed approximately 78% of Royal Gold’s total sum advance payment, the right to purchase all or a revenue in fi scal 2019, while precious metals attributed portion of one or more metals produced from a mine, approximately 87% of Royal Gold’s total revenue in Tony A.
    [Show full text]
  • A Gold Focused Royalty Company
    A Gold Focused Royalty Company June 2010 1 Cautionary Statement Forward-Looking Statements This Presentation contains "forward-looking statements", which may include but are not limited to, statements with respect to future events or future performance, management's expectations regarding Franco-Nevada’s growth, results of operations, estimated future revenues, costs and timing of acquiring new royalties, equity and other resource related interests, requirements for additional capital, mineral reserve and resources estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities. All statements, other than statements of historical fact, are forward-looking statements. In addition, the words "expects", ”expected”, “estimated” and similar expressions identify forward-looking statements. The forward-looking statements contained in this Presentation are based upon assumptions management believes to be reasonable, including, without limitation, the ongoing operation of the properties by the owners or operators of such properties in a manner consistent with past practice, the accuracy of public statements and disclosures made by the owners or operators of such underlying properties, no material adverse change in the market price of the commodities, and any other factors that cause actions, events or results to differ from those anticipated, estimated or intended. However, there can benoassurancetha t fdforward-lkilooking stttatemen tswill prove to beaccurate, as actltual resultsand ftfuture eventscould differ matillterially from those anticipated in such statements. Franco-Nevada cannot assure investors that actual results will be consistent with these forward-looking statements and readers are cautioned that forward-looking statements are not guarantees of future performance. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainty therein.
    [Show full text]