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Wednesday, Feb 8, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Royal Gold subsidiary sold over 63K of gold equivalent ounces in Q4

It reported 21,000 gold oz, 461,200 silver oz and 400 copper tonnes in inventory by the end of the year

Royal Gold subsidiary sold over 63K of gold equivalent ounces in Q4
Photo by istara via Wikimedia Commons

Royal Gold, Inc. (NASDAQ: RGLD)’s subsidiaries sold thousands of gold equivalent ounces in the last quarter of 2022 reaching over US$24.9 million.

The Denver-based royalty company announced it sold  63,100 gold equivalent ounces (GEOs) including 46,000 gold ounces, 706,600 silver ounces and 2,000 tonnes of copper via its subsidiary RGLD Gold AG.

RGLD Gold AG’s average realized gold, silver and copper prices for the fourth quarter were US$1,710 per ounce, US$20.09 per ounce and US$8,004 per tonne (US$3.63 per pound), respectively. The cost of sales was approximately US$396 per GEO for the fourth quarter which would total around US$25 million.

The cost depends on each streaming agreement and its 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.

The company reported 21,000 ounces of gold, 461,200 ounces of silver and 400 tonnes of copper in inventory by the end of the year.

Royal Gold stayed flat at US$124.44 on the Nasdaq Exchange.

Read more: Calibre Mining 2022 operating results show year-round gold production of 222K ounces

Read more: Calibre releases short doc on environmental initiatives in Nicaragua

Royal Gold engages in the acquisition and management of precious metal streams, royalties and similar interests. The company owns interests in 186 properties on five continents including 40 producing mines and 20 development-stage projects.

The company has stream and royalty partners in Nicaragua including Calibre Mining (TSX: CXB) (OTCQX: CXBMF) for its El Limon mine. This week, Calibre released its operating results for the end of the year and reported it produced around 222,000 ounces of gold last year.

El Limon is operated by Calibre in northwestern Nicaragua approximately 100 kilometres northwest of the country’s capital, Managua.


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