Royal Gold, Inc.
) announced that its fully-owned subsidiary - RGLD Gold AG - has
received around 21,900 ounces of gold from the Mt. Milligan mine
for the quarter ended Jun 30, 2014, as part of its purchase and
sale agreement with Thompson Creek Metals Company, Inc.
The gold deliveries consists of roughly 1,400 ounces upon final
settlement of Thompson Creek's second shipment from the Mt.
Milligan mine and around 20,500 ounces upon provisional payment
associated with Thompson Creek's third, fourth, fifth, sixth, and
Thompson Creek registered production for Mt. Milligan of around
37,000 ounces of payable gold and sales of roughly 52,000 ounces of
payable gold in the quarter ended Jun 30, 2014. For the quarter,
Royal Gold sold roughly 14,400 ounces of gold from Thompson Creek,
and had around 7,800 ounces remaining in inventory.
Royal Gold receives the metal from Thompson Creek within two days
of the latter's recording of the sale, which can take between five
days and several weeks post-shipment. The company sells a major
part of the delivered gold within three weeks of receiving the
metal and recognizes revenues on its streaming transactions when
the metal is sold.
Royal Gold, together with its subsidiaries, is engaged in acquiring
and managing precious metals, royalties and similar interests. By
partnering with capable operators, the company focuses on building
and managing a diversified, cash-flowing portfolio of precious
Royal Gold currently carries a Zacks Rank #3 (Hold).
Other companies in the mining industry with favorable Zacks Rank
Agnico Eagle Mines Limited
NovaGold Resources Inc.
). All of them carry a Zacks Rank #2 (Buy).
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