Royal Gold Issues Update on Mt. Milligan Deliveries - Analyst Blog


Royal Gold, Inc. ( RGLD ) 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 seventh shipments.

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 metal assets.

Royal Gold currently carries a Zacks Rank #3 (Hold).

Other companies in the mining industry with favorable Zacks Rank include Agnico Eagle Mines Limited ( AEM ), DRDGOLD Ltd. ( DRD ) and NovaGold Resources Inc. ( NG ). All of them carry a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Business , Stocks

Referenced Stocks: AEM , DRD , NG , RGLD

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