Financial Data and Key Metrics Changes - Revenue for 2023 was $606 million, with operating cash flow of $416 million and earnings of $239 million or $3.63 per share [30][31] - For Q4 2023, revenue decreased by 6% to $153 million, primarily due to lower contributions from Mount Milligan, Pueblo Viejo, and Peñasquito [46][72] - Adjusted EBITDA margin remained strong at 79%, despite inflation pressures affecting operating companies [36] Business Line Data and Key Metrics Changes - Royalty segment revenue for Q4 was $54 million, contributing 36% of total revenue, which is a larger share compared to previous periods [40] - Stream segment revenue decreased to $98 million, with lower contributions from Mount Milligan and Pueblo Viejo, partially offset by higher revenue from Andacollo, Xavantina, and Rainy River [65] - The overall sales for the year were 315,600 GEOs, slightly below the guidance of 320,000 to 345,000 GEOs due to underperformance at Peñasquito and Pueblo Viejo [64] Market Data and Key Metrics Changes - Gold prices increased by 14%, silver prices by 10%, and copper prices by 2% during the year [72] - The company maintained a high gold revenue percentage at 80%, the highest among peers in the royalty and streaming sector [72] Company Strategy and Development Direction - The company aims to maintain a disciplined focus on gold, strengthen its balance sheet, and increase capital return, with a commitment to non-dilutive financing for high-quality asset acquisitions [54] - An agreement with Centerra was announced to provide future cost support to the Mount Milligan mine, extending its life to 2035 and potentially beyond [37][63] - The company plans to provide full-year guidance for 2024 early in the second quarter, reflecting lower production at Cortez and smaller organic growth assets [91] Management's Comments on Operating Environment and Future Outlook - Management noted that inflation pressures have eased but still impact operating companies, leading to cost inflation and margin erosion [36] - The company expressed confidence in its strong financial position and liquidity to pursue business development opportunities [91] - Management acknowledged challenges in production guidance due to issues at Nevada Gold Mines, particularly related to accessing grade [92][94] Other Important Information - The company repaid $325 million on its revolving credit facility during the year, reducing the balance to $250 million and increasing total available liquidity to approximately $845 million [31][52] - The effective tax rate for the quarter was 17.5%, slightly lower than the previous year [49] Q&A Session Summary Question: What is the impact of the issues at Cortez on future production? - Management indicated that the overall decrease in production from 2023 to 2024 is expected to be around 40% to 50% due to issues at the Crossroads area [86][94] Question: How does the company plan to account for the Mount Milligan deal? - The company anticipates recognizing cash and deferred gold ounces as receivables, with the need to mark-to-market the receivable through the P&L in subsequent reporting periods [136][144] Question: What is the outlook for M&A opportunities? - Management noted that the current market is seeing smaller opportunities due to high costs of debt, but they remain open to financing partnerships [118][120]

Fourth Quarter and Full Year 2023 Results February 15, 2024 Forward-Looking Statements: This presentation and the accompanying webcast include "forward-looking statements" within the meaning of U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from these statements. Forward-looking statements are often identified by words like "will ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) (Address of Principal Executive Offices) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 Commission File Number 001-13357 Royal Gold, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware (State or Other Juris ...

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, has executed an additional agreement with Centerra Gold Inc. and its wholly-owned subsidiary, Thompson Creek Metals Company Inc. (together “Centerra”), with respect to the Mount Milligan Mine that provides near-term cash and gold consideration to Royal Gold in return for long-term cost support (“Cost Support Ag ...

Investors watching gold prices might want to buy into this hard asset. There are a few different ways to do that, but one of the most attractive is with a dividend-paying stock called Royal Gold (RGLD 0.50%).It isn't a miner; it is a streaming company. And it has a host of ways to win when gold prices rise. Here's what you need to know.Royal Gold buys gold on the cheapAs already noted, Royal Gold is a streaming and royalty company. That means that it provides cash up front to miners in exchange for the righ ...

DENVER--(BUSINESS WIRE)--Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) announced today that management will present in the 27th Annual CIBC Western Institutional Investor Conference. Bill Heissenbuttel, President and Chief Executive Officer, will participate in a royalty panel discussion on Wednesday, January 17, from 8:35 a.m. to 9:05 a.m. PST (9:35 a.m. to 10:05 a.m. MST / 11:35 a.m. to 12:05 p.m. EST). The discussion will not be webcast li ...

Royal Gold, Inc. (RGLD) issued a stream  segment sales update for fourth-quarter 2023. In the quarter, RGLD Gold AG — the fully-owned subsidiary of Royal Gold — sold 49,900 gold equivalent ounces (GEOs), comprising 39,100 gold ounces, 556,300 silver ounces and 1,100 tons of copper related to its streaming agreements.The average realized price of gold was $1,955 per ounce in the fourth quarter compared with $1,933 per ounce in third-quarter 2023. The average realized price of silver stood at $23.18 per ounce ...

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 49,900 gold equivalent ounces (GEOs)1 comprised of approximately 39,100 ounces of gold, 556,300 ounces of silver and 1,100 tonnes of copper related to its streaming agreements during the three-month period ended December 31, 2023 (the “fourth quarter”). The Company had approximately 15,200 ou ...

Third Quarter 2023 Results November 2, 2023 • Highlights • 2023 guidance: Q3 2023 Financial Results Endnotes . GEOs2 of 71,900 and revenue of $138.6 million ROYAL GOLD, INC. | THIRD QUARTER 2023 RESULTS | NOVEMBER 6 2, 2023 • $325M drawn on revolving credit facility • $75M repayment made September 6, 2023 Cautionary Statements Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ mate ...

Royal Gold, Inc. (NASDAQ:RGLD) Q3 2023 Earnings Conference Call November 2, 2023 1:00 PM ET Company Participants Alistair Baker - Vice President-Investor Relations & Business Development Bill Heissenbuttel - President & Chief Executive Officer Martin Raffield - Vice President-Operations Paul Libner - Chief Financial Officer and Treasurer Dan Breeze - Vice President-Corporate Development of RG AG Conference Call Participants Jackie Przybylowski - BMO Capital Markets Brian MacArthur - Raymond James Operator ...