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DENVER, August 3, 2022–(BUSINESS WIRE)–Royal Gold, Inc. (NASDAQ: RGLD) (along with its subsidiaries, “Royal Gold, the “Company”, “we”, “us” or “our”) reported a net revenue stream of $71. 1 million, or $1. 08 consistent with participation, for the 3 months ended June 30, 2022 (“Second Quarter”), on revenue of $146. 4 million and consistent with the money of $120. 2 million. Adjusted net profit1 was $54. 0 million, or $0. 81 consistent with participation.
Highlights of the second quarter of 2022:
Strong monetary functionality with revenue of $146. 4 million, operating money of $120. 2 million and earnings of $71. 1 million
Income distribution: 71% gold, 11% silver, 14% copper
Production of 78,300 GEO2
Strong balance sheet, ending the debt-free period, with money of $280. 6 million and total money of approximately $1. 3 billion
Adjusted EBITDA margin1 of 78%
Payment of a quarterly dividend of $0. 35 consistent with the stock, a 17% cumulative over the past year
Post-quarter events:
Announcement of an agreement to acquire Great Bear Royalties Corporation for royalty exposure at the emerging Great Bear project in Ontario
Acquisition of an effective gross royalty of 1. 2% at the world-class Cortez in Nevada
“Royal Gold’s portfolio performed well in the current quarter,” said Bill Heissenbuttel, President and Chief Executive Officer of Royal Gold. “While we saw a decline in volumes of some assets, it was not unforeseen and our overall monetary effects were and consistent margins remained strong during the quarter, demonstrating once again the resilience of our business style in an environment of maximum inflation. “
“We have been very active on the trade progression front as we look to continue and diversify our portfolio. At the end of the announced transaction, great Bear’s royalty is expected to overlap over the long term, Royal Gold’s scale and features, and Cortez Complex’s recently announced royalty acquisition adds increased exposure to a world-class production gold complex with benefits we expect to reap for decades. Our purpose is to enhance the scale and longevity of our portfolio, and with Red Chris Royalty, NX Gold stream and the Côté Project’s royalty transactions last year, we are working diligently to provide our shareholders with increased exposure to assets with significant gold revenues and exploration characteristics in low-risk jurisdictions. “
_______________________
1 Adjusted net earnings, adjusted net earnings consistent with consistent percentage, and adjusted EBITDA margin are non-GAAP monetary measures. See Appendix A of this press release for more information, adding a detailed description of the net source of revenue adjustments.
2 See Appendix A of this publication for more information on ounces of gold equivalent or GEO.
RECENT DEVELOPMENTS
Increased production continues in Khoemacau
According to Khoemacau Copconsistent with Mining (Pty. ) Limited (“KCM”), the increase in constant operations continued in the allocation of Khoemacau (“Khoemacau”) in Botswana, and average monthly underground production increased during the current quarter. from around 5,700 tonnes consistent with one day in March to around 7,300 tonnes consistent with one day in June.
Tragically, KCM reported a twist of fate at the underground mine that resulted in the deaths of two workers of the mining contractor on May 20, 2022. This resulted in short-term production disruptions after the fate spin and until early June. Investigations into the cause of the turn of fate are still ongoing.
KCM expects the extraction rate to continue to increase from existing grades and to achieve full sustained production through the fourth quarter of 2022, in the absence of additional covid-19 effects. With the effects achieved so far during the acceleration According to what has been said, KCM continues to expect that with full production, Khoemacau will produce from 155,000 to 165,000 tons of high-grade silver concentrate according to the year, which contains approximately 60,000 to 65,000 tons of payable silver content of 1. 8 to 2. 0 million ounces of payable silver, for a service life of approximately 20 years of zone 5. In the current quarter, Royal Gold gained silver current deliveries of approximately 246,800 ounces.
Plant expansion and allocation of mine life extension continues, with additional silver deferral to the current quarter in Pueblo Viejo
During the current quarter, Barrick Gold Corporation (“Barrick”) announced continued progress in the proposed plant expansion and extension of the mine life at Pueblo Viejo in the Dominican Republic to increase throughput and allow the mine to reach a minimum annual average gold production of approximately 800,000 ounces after 2022 and beyond 2040 (based on 100%).
Regarding the expansion of the plant, on May 4, 2022, Barrick reported that as of March 31, 2022, the structure is 39% complete and is expected to be complete until the end of 2022. Regarding the extension of the mine’s useful life, Barrick also revealed that social, environmental and technical studies for increased tailings deposit capacity continue to advance, and that the final location and structure of the tailings deposit facility will be subject to the final touch of an Environmental and Social Impact Assessment (“ESIA”). ) in accordance with Dominican legislation Legislation of the Republic and Standards. Once finalized, the EIAS would be submitted to the Government of the Dominican Republic for evaluation and final decision.
Silver flow shipments were approximately 307,100 ounces for the current quarter, compared to approximately 386,500 ounces for the quarter of last year. During the current quarter, another 45,000 ounces of silver deliveries were deferred. The deferred ounces are the result of a mechanism in the agreement that allows deliveries to be deferred in an era if Barrick’s percentage of silver production is inadequate to cover its delivery obligations. The terms of the agreement come with a constant money replenishment rate of 70%. of 70%, the ounces would possibly be deferred with deferred ounces to be delivered in long-term periods, if the replenishment of money allows it. the amount is uncertain.
Increased gold production, continued progress in block cave viability and successful East Ridge exploration at Red Chris
On July 21, 2022, Newcrest Mining Limited (“Newcrest”) announced that gold production of 19,500 ounces (on a one hundred percent basis) at the Red Chris mine in British Columbia in the current quarter was 62% higher than in the first quarter. , basically due to higher mill performance due to improved weather conditions. Newcrest also reported that gold recovery was higher in the quarter due to plant stabilization, improved water quality, and the implementation of a pre-crusher blending program.
According to Newcrest, the progression of the block cave in the current quarter continued with the decline in exploration that has now exceeded 1,703 meters as of July 13, 2022, and the installation of surface infrastructure similar to the decline in exploration is almost complete. Newcrest also said the feasibility review is progressing as planned and remains on track to finish in the first part of calendar year 2023.
In addition, according to Newcrest, drilling activities on East Ridge continue to expand the footprint and verify continuity and higher-grade mineralization extensions. During the current quarter, Newcrest learned of a conceptual exploration target for East Ridge that could involve from a box decline of 2. 8 million ounces of gold and 0. 9 million tons consistent with (170 million tons with grades of 0. 5 grams consistent with ton of gold and 0. 5% consistent with) to a capital of 4. 3 million ounces of gold and 1. 3 million tons consistent with (300 million tons with laws of 0. 4 grams consistent with tons of gold and 0. 4% matching with). According to Newcrest, East Ridge is outdoors, the initial estimate of mineral resources for Red Chris and the lateral extensions of this prospect remain open to the public. this.
Announcement of an agreement to acquire Great Bear Royalties Corporation to obtain royalty exposure to the World-Class Emerging Gold Project Great Bear
On July 11, 2022, the Company announced that it had entered into a definitive agreement (the “Settlement Agreement”) with Great Bear Royalties Corporation (“GBR”) to obtain all issued and notable non-unusual shares of GBR for monetary care. of C$6. 65 consistent with a non-unusual stake, valuing GBR at approximately C$199. 5 million (approximately $155 million) on a fully diluted basis. GBR’s only significant asset is a 2. 0% royalty on the net return of the smelter (the “Royalty”) covering the entire emerging world-class large bear allocation of 9,140 hectares in the Red Lake district, Ontario, Canada, owned by Kinross Gold Corporation (“Kinross”).
As part of Royal Gold’s due diligence for the acquisition, the Company has entered into a cooperation agreement with Kinross to gain access to Kinross’ workforce and certain data related to the assignment of Great Bear. In return, Royal Gold agreed to modify certain terms of the royalty agreement at the end of the acquisition, adding an option for Kinross to acquire a 25% interest in the royalty for an amount equivalent to 25% of the value acquired from GBR through Royal Gold, adjusted for inflation, at any time from the end date of the transaction until the first of a structure resolution for the allocation of Great Bear. and 10 years after the end date of the transaction.
The acquisition was unanimously approved through the Royal Gold and GBR board of directors forums, and GBR’s board of directors made the decision to submit approval of the acquisition to GBR shareholders. All of GBR’s directors and officers have entered into agreements to vote on their shares in the acquisition representing, in total, approximately 10. 5% of GBR’s notable shares. The Settlement Agreement gives Royal Gold a standard right to accommodate any impressive proposal and includes standard non-solicitation clauses. In addition, the Settlement Agreement requires GBR to pay a termination payment of C$7. 0 million (approximately C$6 million) to Royal Gold if GBR terminates the Settlement Agreement in certain circumstances.
The transaction is subject to GBR shareholder approval, regulatory and judicial approvals. GBR expects to hold a special meeting of shareholders to approve the transaction on August 31, 2022, and subject to shareholder approval, GBR will seek within some time after the Supreme Court of British Columbia approves a settlement plan under the provisions of the Entente Companies Act (British Columbia). The transaction is expected to close the quarter ended September 30, 2022.
Financing for the transaction is expected to come from money available without capital issuance.
Acquisition of more royalty interests at Cortez’s world-class production complex in Nevada
On August 2, 2022, the Company announced that it had acquired a sliding scale gross royalty (the “Cortez Royalty”) on a domain that includes the Cortez Mine Area and the Fourmile Development Project in Nevada (the “Cortez Complex”). Royal Gold paid $525 million in cortez royalty money to Kennecott Royalty Company (“Kennecott”), a wholly owned subsidiary of Rio Tinto European Holdings Limited (“Rio Tinto”). The cortez Complex domain is owned or controlled by Nevada Gold Mines LLC (“NGM”), a joint venture between Barrick Gold Corporation (“Barrick”) (61. 5% ownership and operation) and Newmont Corporation (“Newmont”) (38. 5% owner), with the exception of the Fourmile Project, which is one hundred percent owned and operated through Barrick.
The Cortez royalty is a sliding scale gross royalty over the life of the mine payable at a rate of 0% with a gold value of less than $400 consistent with one ounce, expanding to 3% with a gold value greater than $900 consistent with one ounce. and is payable on 40% of all production of the Cortez Complex. Cortez’s royalty covers existing deposits at robertson consistently. With existing gold values, the Cortez royalty is an effective gross royalty of 1. 2% at the Cortez Complex and is subject to any relief or cover.
Cortez’s royalty is paid after the Cortez complex’s cumulative production of 15 million ounces of gold equivalent to January 1, 2008. According to Barrick’s public disclosure, cumulative production as of January 1, 2008 was approximately 14. 8 million ounces as of June 30, 2022. and Royal Gold estimates that the royalty will begin to be paid in the third or fourth quarter of 2022 and the first profit is expected to be made in the fourth quarter of 2022 or the first quarter of 2023. Royalty invoices will be made quarterly within forty-five days of the end of each quarter of calfinishar.
Deductions from Cortez’s royalty invoices correspond to third-party royalties that existed prior to 2008, including existing Crossroads and Pipeline royalties held through Royal Gold.
The acquisition of Cortez Royalty was financed with available money and a withdrawal from the Company’s line of credit, as set forth below. No further capital will be issued to fund this transaction.
Total available money exceeding approximately $1. 3 billion
At the end of the current quarter, Royal Gold was debt-free with the entire $1 billion credit line unused and available. Combined with current capital of $276. 3 million, Royal Gold had a total available money of approximately $1. 3 billion as of June 30. , 2022.
After ending the quarter and to fund the acquisition of Cortez’s royalty as stated above, on July 25, 2022, Royal Gold withdrew $500 million from the credit facility, leaving $500 million uncollected and available. According to Royal Gold’s capital allocation strategy, the Company expects to repay this remarkable debt based on the flow of money.
Summary of the second quarter of 2022
For the current quarter, the Company recorded net profit and a comprehensive source of income attributable to Royal Gold consistent with shareholders (“net source of income”) of $71. 1 million, or $1. 08 consistent with the fundamental and diluted percentage, compared to net earnings of $81. 7 million, or $1. 24 consistent with the fundamental percentage and diluted with the percentage, for the 3 months ended June 30, 2021. The reduction in the net source of income is mainly due to the reduction in income.
During the current quarter, the Company recorded overall revenue of $146. 4 million, consisting of revenue of $104. 9 million and royalty income of $41. 6 million with an average gold value of $1,871 consistent with the ounce, an average silver value of $22. 60 consistent with the ounce, and an average value consistent with the ounce. with a value of $4. 31 per pound. This compares to overall revenue of $168. 0 million during last year’s consistent period, which includes revenue of $114. 4 million and royalty revenue of $53. 6 million, with an average gold value of $1,816 per ounce, an average silver value of $26. 69 per ounce, and an average value of $4. 40 per pound.
The reduction in overall profits is basically due to the reduction in gold sales in Andacollo and Pueblo Viejo and the reduction in gold production in Cortez and Peñasquito. Royal Gold in the quarter of the previous year.
Cost of sales, which excludes depreciation, depletion and amortization, decreased to $23. 8 million in the current quarter from $24. 7 million during last year in the same period. The reduction, compared to the previous period, is basically due to a reduction in gold sales. to Andacollo and Pueblo Viejo, offset through gold sales to NX Gold and silver sales to Khoemacau. Flow deliveries from NX Gold and Khoemacau Creeks were not due to Royal Gold in last year’s quarter. The sales charge is express to the agreements of the Company and effects of the acquisition of gold, silver and copper according to a cash payment. The cash payment for Mount Milligan’s gold is the lesser of $435 per ounce or the market value of gold in effect at the time of acquisition, while the cash payment for the Company’s other streams is a fair value. contractual explained consistent with the percentage of gold, silver or coupon consistent with (Mount Milligan) spot near the date of delivery of the metal.
General and administrative expenses increased to $9. 3 million for the current quarter, compared to $7. 2 million in the prior-year period. as higher prices related to environmental, social and governance (“ESG”) initiatives.
Depreciation, depletion and amortization minimized to $44. 0 million for the current quarter, compared to $48. 0 million for the prior-year period. The reduction is basically due to the reduction in gold sales in Andacollo and Pueblo Viejo compared to the previous period. The reduction partially offset through the additional depletion of the new Khoemacau and the newly acquired NX Gold streams.
In the current quarter, the Company recorded a source of income tax savings of $5. 9 million, compared to a source of income tax expenses of $5. 5 million for the prior-year era. Tax advantages resulted in an effective tax rate of (9. 0%). for the era under review, compared to 6. 3% for last year’s era. The current quarter included a discrete tax advantage due to the release of an impairment provision, while the quarter ended June 30, 2021 included a discrete tax advantage. by the settlement of a dubious tax situation in a foreign jurisdiction.
Net cash from operating activities totaled $120. 2 million for the current quarter, compared to $120. 9 million for the same was last year.
Net money from investment activities totaled $0. 1 million for the current quarter, compared to $95. 1 million for the same period last year. The reduction is basically due to reducing acquisitions of broadcast rights and royalties compared to last year’s period.
Net money spent on funding activities totaled $23. 2 million for the current quarter, compared to net money used in financing activities of $170. 1 million for the last fiscal year. the era of the previous year.
As of June 30, 2022, the Company had existing assets of $340. 3 million compared to existing liabilities of $64. 0 million, resulting in current capital of $276. 3 million and an existing ratio of 5:1. This compares to existing assets of $216. 0 million and liabilities of $61. 4 million as of December 31, 2021, resulting in current capital of $154. 6 million and an existing ratio of approximately 4:1. The accumulation of current capital is basically due to an accumulation of available cash.
During the current quarter, money needs were covered from $120. 2 million in net money from operating and available activities.
Perspectives
There is no replacement for previously published guidance for geographic sales of GEO 315,000 to GEO 340,000, depreciation and amortization expenses of $535 to $585 according to GEO, and an effective tax rate of 17% to 22% by 2022. Due to uncertainty related to the timing and amount of the first Payment of Cortez’s royalty described above, the third-class levels for 2022 have not been adjusted to include any contribution from this royalty at that time.
Royal Gold has two short-term financing commitments that the Company expects to pay in order to have cash. The first is the prospective payment of C$199. 5 million (approximately $155 million) for the acquisition of GBR at the close of this transaction, which is expected in the 3rd quarter upon receipt of all mandatory approvals. The timing is the prospective payment of up to $6. 8 million to a subsidiary of Ero Copper Corporation for the achievement of good fortune-based targets similar to regional exploration and mineral resources targets under the NX Gold Flow, which could occur at any time before the end of 2024.
Property Highlights
A breakdown of the Company’s royalty and flow portfolio revenues for the 3-month and six-month periods ended June 30, 2021 and 2022 can be found in Table 1. Historical reported production can be found through the operators of the main households of flows and royalties of the company. in Table 2. Estimates of operators’ production for the calendar year 2022 for the Company’s main flow and royalty houses in relation to the actual production reported through the operators of those houses until June 30, 2022 are presented in Table 3. The effects of the flow segment purchases and sales for the 3-month and six-month periods ended June 30, 2021 and 2022 and inventories for the quarters ended June 30, 2022 and as of December 31, 2021 are shown in Table 4. Highlights of some of the Company’s primary production and progression of homes for the quarter ended June 30, 2022, compared to the quarter ended June 30, 2021, are detailed in the Quarterly Report on Form 10-Q.
COMPANY PROFILE
Royal Gold is a valuable steel royalty and flow corporation engaged in the acquisition and control of valuable steel flows based on production, royalties and similar interests. 41 production mines and 19 projects under development. Royal Gold is indexed in Nasdaq Global Select Market under the symbol “RGLD”. The Company’s can be found in www. royalgold. com.
Information on the call for the quarter 2022:
Compose
844-200-6205 (United States); free
Numbers:
833-950-0062 (Canada); free
646-904-5544 (International)
Access code:
782462
Webcast URL:
www. royalgold. com Investors, Events
Note: The call of the control convention reviewing the effects of the current quarter will take place on Thursday, August 4, 2022 at 12:00 p. m. Eastern Time (10:00 a. m. Mt. ). The call will be transmitted over the Internet and archived with the company for a limited time.
Additional information for investors: Royal Gold publishes vital data, adding data on upcoming investor presentations and press releases, on its online page under the Investors tab. Investors and other stakeholders are encouraged to log in to www. royalgold. com for automatic email alerts. for new publications.
Forward-Looking Statements: This press release includes “forward-looking statements” within the meaning of United States federal securities laws. Forward-looking statements are all statements other than statements of past facts. Forward-looking statements are not promises of long-term functionality, and actual effects may differ materially from such statements. Forward-looking statements are referred to by words such as “will”, “possibly”, “could”, “should”, “believes”, “estimates”, “expects”, “anticipates”, “plans”, “anticipates”, “potential”, “intends”, “continues”, “projects” or negative bureaucracy of those words or similar expressions. Forward-looking statements include, among other things, statements about the following: the resilience of our business model; our functionality and expected monetary prospects, aggregating sales volume, income, expenses or tax rates; operating and monetary functionality expected from operators, aggregating production, deliveries, mine plans, environmental and feasibility studies, mining facilities, mineral resources and reserves, and development; liquidity; our overall investment portfolio; the benefits of acquisitions, adding, among other things, the realization of upside potential, exploration option and expected long-term gold production; financing, approval and finalization of acquisitions; the royalty payment schedule; the financing of acquisitions; funding commitments; repayment of amounts borrowed under our revolving line of credit; the usefulness and importance of non-GAAP monetary measures.
Factors that may cause actual effects to differ materially from those forward-looking statements include, but are not limited to, the following: a decline in the value of gold, silver, copper, nickel or other metals; operating activities or monetary functionality of households in which we have flow or royalty interests, aggregating inaccuracies in data provided through carriers, diversifications between actual and forecast functionality, carriers’ ability to complete projects on schedule and as planned, adjustments made through operators to mine plans and reserves and resources (adding updated data on mineral reserves and resources as of December 31, 2021), money requirements, mining and environmental threats, hard work disputes, disruptions in the supply and distribution chain, permitting and licensing issues, time trial issues involving our flow or royalty agreements, or operational disruptions due to public suitability crises; threats relevant to doing business in foreign countries; major festival for mainstream interests and royalty; environmental threats, to which are added those caused by the substitution of time; possible cyber attacks, adding ransomware; our ability to identify, finance, cost and complete acquisitions; adverse economic and market conditions; adjustments in the legislation or regulations that govern us, the operators or operating houses; control adjustments and key employees; the ability to discharge or delays in the discharge of shareholders and court approval for acquisitions; the threat that an event, replacement or other circumstance may result in the termination of the arrangement agreement with GBR; the threat that a condition to the end of the GBR acquisition will not be met; the threat that any announcement related to the GBR or Cortez Royalty acquisitions could harm the market value of Royal Gold’s common stock; the threat of acquisition-like litigation; deviation of the control time of ongoing business operations due to problems similar to the acquisition; volatility of the value of raw materials for gold; public fitness crises, such as pandemics (adding COVID-19) and epidemics, and any similar government policies and actions; scrutiny and increased regulation of non-GAAP monetary measures; and other items described in our reports filed with the Securities and Exreplace Commission, adding Section 1A. Our Form 10-K threat points for the transition era ended on December 31, 2021. Most of those points are beyond our ability to expect or control. Other unexpected or unknown items not discussed in this release may also be materially adverse to forward-looking statements.
Forward-looking statements refer only to the date on which they are made. We disclaim any legal responsibility to update any forward-looking statements, as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.
Third Party Information Statement: Certain data provided in this press release, which aggregate production estimates, has been provided to us through the operators of the relevant households or will be publicly archived through such operators with the relevant securities regulators, adding the Securities and Exchange. Commission. Royal Gold has not verified, and is not in a position to verify, and expressly disclaims any obligation for the accuracy, completeness or fairness of such third party data and refers the reader to public reports submitted through the operators to download data related to such Properties.
The data contained in this press release relating to Khoemacau’s copper cession provided to the company through Cupric Canyon Capital L. P. , the personal owner and developer of Khoemacau. Such data may not have been ready in accordance with applicable laws, inventory exchange regulations, or criteria governing the preparation and public disclosure of technical knowledge and data related to mining properties. Royal Gold has not verified, and is not in a position to verify, and expressly disclaims any obligation for the accuracy, completeness or fairness of such third party data, and investors are cautioned not to rely on such data.
Second quarter 2022 and 2021
Revenue through flow fees and royalties
(Thousands)
Three months completed
Semester completed
30 June,
30 June,
Streams/Royalties
Rails)
Current flow/interest in royalties1
2022
2021
2022
2021
Caudal:
Canada
Mont Milligan
gold, copper
35% gold payable and 18. 75% copper payable
Ps
45 627
Ps
43 802
Ps
88 043
Ps
77 606
rainy river
Gold silver
6. 5% gold produced and 60% silver produced
8 965
8 238
18 034
17 043
Latin America
Old Town
Gold silver
7. 5% of Barrick in the gold payable and 75% of Barrick in the silver payable
Ps
19 812
Ps
26 585
Ps
43 076
Ps
56 759
Andacollo
Gold
100% gold payable
11 721
27 867
27 395
40 889
NX gold
Gold
25% of gold produces
4 215
–
8 207
–
Africa
Wassa
Gold
10. 5% gold payable
Ps
8 248
Ps
7 129
Ps
15,451
Ps
15 902
Khoemacau
Silver
100% of what to be paid
5 202
–
7 591
–
Prestea and Bogoso
Gold
5. 5% of the gold to be paid
1 089
800
2 333
1 568
Total revenue
Ps
104 879
Ps
114 421
Ps
210 130
Ps
209 767
Royalties:
Canada
Voisey Bay
Copper, nickel, cobalt
2. 7% NRVN
Ps
2 845
Ps
5 310
7 823
10 296
Chris Red
gold, copper
1. 0% NRS
–
–
3 432
–
Canadian Malartic
Gold
NSR sliding scale from 1. 0% to 1. 5%
1 434
2 379
2 660
4,401
Williams
Gold
0. 97% NSR
453
681
462
1 457
La Ronda Zone 5
Gold
2. 0% NSR
487
619
1 138
1 039
Other-Canada
Diverse
Diverse
553
611
1 036
1 020
United states
Courteous
Gold
GSR1. . . GSR2. . . GSR3. . . NVR1. . . NVR1C
Ps
8 138
Ps
13 739
Ps
24 852
Ps
22 348
Robinson
gold, copper
3. 0% NSR
3 334
2 899
6 426
5 670
Wonder
Gold
2. 0% NSR
1 644
2 101
2 860
4 488
golden coup
Gold
0. 9% NSR
862
587
1 780
1 414
Wharf
Gold
GSR sliding scale from 0. 0% to 2. 0%
637
873
1 280
1 553
Other-United States
Diverse
Diverse
2 231
1 149
4 003
2 348
Latin America
Peñasquito
Gold, silver, lead, zinc
2. 0% GRL
Ps
9 664
Ps
13 399
Ps
22 758
Ps
26 527
Pains
Gold silver
3. 25% NSR (gold), 2. 0% NSR (silver)
2 276
2 792
5 063
4 934
lemon
Gold
3. 0% NSR
1 831
1 234
3 243
2 356
Other-Latin America
Diverse
Diverse
575
–
600
–
Africa
Taparko
Gold
2. 0% GSR, 0. 75% GSR (machining fee)
Ps
114
Ps
559
Ps
430
Ps
1 307
australia
Laverton South
Gold
1. 5% NSR, 4. 0% NPI
Ps
1 486
Ps
1 826
Ps
3 019
Ps
3 498
Depths of Gwalia
Gold
1. 5% NSR
1 338
1 178
2 521
2 305
Meekatharra
Gold
0. 45% or 1. 5% NSR
791
738
1 548
1 702
Other-Australia
Diverse
Diverse
425
507
999
1 104
Europe
Las Cruces
Copper,
1. 5% NSR (copper)
Ps
444
Ps
423
Ps
733
Ps
1 080
Total royalty revenue
Ps
41 562
Ps
53 606
Ps
98 666
Ps
100 849
Total revenue
Ps
146 441
Ps
168 027
Ps
308 796
Ps
310 616
Please refer to Part I, item 2, of the Company’s Transition Report on Form 10-K for a complete description of the Company’s and royalty interests.
Historical production of operators for number one properties
Reported for the quarter ended2
Farm
Operator
Current flow/interest in royalties1
Rails)
June 30, 2022
March 31, 2022
December 31, 2021
September 30, 2021
June 30, 2021
Caudal:
Mont Milligan
Focuses
35% gold to be paid
Gold
15 500
Ounces
13 900
Ounces
16 700
Ounces
19 300
Ounces
16 100
Ounces
18. 75% copper payable
Copper,
4. 0
mlb
3. 6
mlb
2. 7
mlb
4. 4
mlb
4. 4
mlb
Old Town
Barrick (60%)
7. 5% of Barrick in gold payable
Gold
7 100
Ounces
8 600
Ounces
9 200
Ounces
9 800
Ounces
10 500
Ounces
75% of Barrick’s share of the account payable3
Silver
274 500
Ounces
316 000
Ounces
396 500
Ounces
386 500
Ounces
247 500
Ounces
Andacollo
teak
100% gold payable
Gold
6 300
Ounces
8 400
Ounces
9 100
. . .