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Royal Gold (RGLD) Posts Update on Mt. Milligan Deliveries

Royal Gold, Inc. (RGLD) announced that its fully-owned subsidiary – RGLD Gold AG – has received around 13,600 ounces of gold from the Mt. Milligan mine for the quarter ended Sep 30, 2014, as part of its purchase and sale deal with Thompson Creek Metals Company, Inc.

The gold deliveries consists of roughly 7,000 ounces upon final settlement of Thompson Creek’s third, fourth and fifth shipments from the Mt. Milligan mine and around 6,000 ounces upon provisional payment associated with Thompson Creek’s eighth and ninth shipments.

Royal Gold's shares rose as much as 3.2% during Tuesday’s trading session. The stock has gained roughly 49% so far this year, outperforming S&P 500's total return of 2.4% for the period.

Thompson Creek registered production for Mt. Milligan of around 60,400 ounces of payable gold and sales of roughly 57,900 ounces of payable gold in the quarter ended Sep 30, 2014. For the quarter, Royal Gold sold roughly 15,300 ounces of gold from Thompson Creek, and had around 6,100 ounces remaining in inventory.

Royal Gold receives the metal from Thompson Creek within two days of the latter’s recording of sale, which can take between five days to several weeks after 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 once 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 #4 (Sell).

Other companies in the mining industry worth a look include Pretium Resources Inc. (PVG), Allied Nevada Gold Corp. (ANV) and Franco-Nevada Corporation (FNV). While Pretium Resources sports a Zacks Rank #1 (Strong Buy), Allied Nevada and Franco-Nevada carry a Zacks Rank #2 (Buy).

Read the Full Research Report on PVG
Read the Full Research Report on FNV
Read the Full Research Report on RGLD
Read the Full Research Report on ANV


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