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Stock Market & Financial Investment News

News For RGLD From The Last 14 Days
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July 23, 2015
17:13 EDTRGLDRoyal Gold estimates Q2 Peak Gold costs at $2M
Royal Gold incurred certain costs associated with the summer exploration program at Peak Gold. The company estimates approximately $2M in expenditures will be reported in its financial results for Q2.
17:12 EDTRGLDRoyal Gold sees streaming agreement with Golden Star Resources closing "soon"
Royal Gold (RGLD) had entered into a streaming agreement with Golden Star Resources (GSS). The transaction is expected to close soon, upon satisfaction of remaining closing conditions, with RGLD Gold making an initial upfront payment at closing of $40M to Golden Star. Royal Gold will simultaneously fund a $20Mdollar term loan as part of the transaction. RGLD Gold expects to make further advance payments totaling $90M over the next five quarters. Once the initial upfront payment has been made, RGLD Gold expects to receive stream deliveries from Golden Star in the current quarter related to production from and after April 1. Golden Star will deliver to RGLD Gold 8.5% of gold produced from Wassa, Bogoso and Prestea until 185,000 ounces have been delivered, 5.0% until an additional 22,500 ounces have been delivered, and 3.0% thereafter. RGLD Gold will pay Golden Star 20% of the spot price at the time of delivery until 207,500 ounces have been delivered, and 30% of the spot price thereafter.
17:10 EDTRGLDRoyal Gold provides streaming and royalty update
Royal Gold (RGLD) provided an operational update for its streaming and royalty interests at Mount Milligan, Phoenix and Voisey’s Bay. In Q2, the company’s wholly owned subsidiary, RGLD Gold AG, purchased approximately 21,400 ounces of gold from the Mount Milligan mine at a cash price of $435 per ounce as part of its purchase and sale agreement with Thompson Creek (TC) and sold approximately 23,000 ounces of gold related to Mount Milligan. Rubicon Minerals (RBY) announced its first gold pour at the Phoenix Gold Project of approximately 741 ounces. RGLD Gold will begin receiving deliveries in the current quarter related to initial commissioning activities and anticipates more substantial gold deliveries as the mine ramps up to design production. Rubicon will deliver 6.30% of the gold from the Phoenix mine until 135,000 ounces have been delivered, then 3.15% thereafter. RGLD Gold will pay 25% of the spot price at the time of delivery. Royal Gold also received the first quarterly royalty payment relating to processing Voisey’s Bay nickel concentrates at Vale’s new Long Harbour hydrometallurgical plant.
July 20, 2015
08:11 EDTRGLDNew Gold enters into $175M streaming agreement with RGLD Gold
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08:02 EDTRGLDRoyal Gold buys Gold and Silver stream on New Gold's Rainy River Project
Royal Gold announced that its subsidiary RGLD Gold AG entered into a $175M Purchase and Sale Agreement with New Gold for a percentage of the gold and silver production from the Rainy River Project in Ontario, Canada. The Rainy River Project is located 65 kilometers northwest of Fort Frances in western Ontario, Canada, just north of the Minnesota border. Over its first nine years of full production, the 21,000 tonne per day, combined open pit-underground operation is scheduled to produce an average of 325,000 ounces of gold per year. Permits to begin major earthworks construction are in place, and, as of mid-2015, detailed engineering is 95% complete and 14% of the total development capital estimate of $877M has been spent. Startup is projected for mid-2017. Under the terms of the Purchase and Sale Agreement, New Gold will deliver gold and silver to Royal Gold on a monthly basis. Royal Gold plans to sell the gold within a few weeks of receiving each delivery, and will recognize revenue from the sale of the delivered gold after the sale has occurred.

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