Royal Gold Fiscal Q1 Gold Equivalent Ounces Slips Sequentially

Royal Gold (RGLD) said late Thursday that its wholly owned subsidiary, RGLD Gold AG, sold about 61,000 gold equivalent ounces in the fiscal Q1 of 2018, down from 62,000 ounces sold in the prior quarter.

The Q1 figures include roughly 48,000 gold ounces, 537,000 silver ounces and 1,170 tonnes of copper. The average realized gold, silver, and copper prices per ounce stood at $1,287, $16.77, and $6,562, respectively, compared with $1,259, $17.32, and $5,681 in the prior quarter. Cost of sales was about $334 per gold equivalent ounce compared with $318 previously.

In addition, Royal Gold repaid $50 million of the outstanding balance on its revolving credit facility in Q1. As of Sept. 30, there was $200 million outstanding on the revolver, resulting in $800 million available under an expanded credit facility.

The company said it had about 15,000 gold ounces and 470,000 silver ounces in inventory as at Sept. 30. That compares with 14,000 gold ounces and 537,000 silver ounces in inventory as at June 30.

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