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Royal Gold Provides Update On Its Fiscal 2016 Third Quarter DENVER, COLORADO. APRIL 5, 2016: ROYAL GOLD, INC (NASDAQ:RGLD; TSX: RGL)

The following excerpt is from the company's SEC filing.

(together with its subsidiaries, “Royal Gold” or the “Company”) today announced that its wholly owned subsidiary RGLD Gold AG sold approximately 54,300 gold ounces, and had 12,200 gold ounces and 210,000 silver ounces in inventory related to its streaming agreements during its fiscal 2016 third quarter ended March 31, 2016 (“third quarter”).

Stream segment sales and inventory were significantly higher than the prior year quarter but lower than the quarter ending December 31, 2015 (“prior quarter”). As expected, Mount Milligan, Wassa and Prestea sales were lower than the prior quarter, somewhat offset by highe r Pueblo Viejo and Andacollo sales. Notably, the Company’s silver stream associated with Pueblo Viejo production commenced on January 1, 2016.

RGLD Gold AG’s average realized gold price was $1,168 per ounce sold while cost of sales was approximately $330 per ounce for the third quarter. Cost of sales is specific to our stream agreements and is the result of the Company’s purchase of gold for cash payments at a set contractual price, or a percentage of the prevailing market price of gold when purchased.

Royal Gold previously indicated its intention to complete a review in the March quarter regarding the carrying value of its assets. The Company preliminarily expects to report non-cash impairments in the third quarter in the range of $95 million to $100 million related to several non-principal properties, including the Phoenix gold stream. The Company expects to report a higher effective tax rate during the third quarter coinciding with this impairment and the appreciation of the Canadian dollar.

Royal Gold’s third quarter results will be...


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