DENVER--(BUSINESS WIRE)-- Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that its wholly owned subsidiary, RGLD Gold AG, sold approximately 51,000 gold equivalent ounces comprised of approximately 44,000 gold ounces, 450,000 silver ounces and 800 tonnes of copper related to its streaming agreements during its fiscal 2020 fourth quarter ended June 30, 2020 (“fourth quarter”). Fourth quarter stream sales were in line with the previous guidance range of 50,000 to 55,000 gold equivalent ounces. The Company had approximately 25,000 gold equivalent ounces in inventory at the end of the fourth quarter consisting of 19,000 gold ounces, 475,000 silver ounces and 300 tonnes of copper. Inventory at the end of the fourth quarter was higher than the previous guidance range of 18,000 to 23,000 gold equivalent ounces primarily due to timing of deliveries.

RGLD Gold AG’s average realized gold, silver and copper prices for the fourth quarter were $1,686 per ounce, $15.77 per ounce, and $5,235 per tonne ($2.37 per pound), respectively, compared to $1,569, $17.79, and $5,493 ($2.49), respectively, in the prior quarter ended March 31, 2020 (“third quarter”). Cost of sales was approximately $406 per gold equivalent ounce for the fourth quarter using the quarterly average silver-gold ratio of approximately 104 to 1 and copper-gold ratio of approximately 0.32 tonnes per ounce, compared to cost of sales of $355 per gold equivalent ounce in the third quarter. Cost of sales is specific to our streaming agreements and is the result of the Company’s purchase of gold, silver or copper for cash payments at a set contractual price, or a percentage of the prevailing market price of gold, silver or copper when purchased.

Corporate Profile
Royal Gold is a precious metals stream and royalty company engaged in the acquisition and management of precious metal streams, royalties and similar production-based interests. As of June 30, 2020, the Company owned interests on 187 properties on five continents, including interests on 41 producing mines and 17 development stage projects. Royal Gold is publicly traded on the Nasdaq Global Select Market under the symbol “RGLD.” The Company’s website is located at www.royalgold.com