- Thompson Creek Metals Company, which operates the Mount Milligan mine, was facing financial difficulties due to high debt levels and a weak balance sheet.
- Royal Gold, which holds a gold stream on Mount Milligan, worked to find a solution that would ensure continued strong operation of the mine.
- Royal Gold facilitated a deal where Centerra Gold would acquire Thompson Creek Metals. Centerra is a well-established gold producer with a strong financial position.
- The gold stream agreement between Royal Gold and Thompson Creek was amended but maintains equivalent value for Royal Gold. The amendment provides long-term stability for the Mount Milligan mine.
RBC Capital Markets Global Mining and Materials ConferenceRoyalGold
Royal Gold presented at the RBC Capital Markets Global Mining & Materials Conference in June 2016. The presentation discussed Royal Gold's vision and strategy of providing leverage to gold price upside through a portfolio of royalty and stream assets on long-life mines. It provided an overview of key assets in the portfolio including Pueblo Viejo, Mount Milligan, Andacollo, Rainy River, and Wassa and Prestea. The presentation also covered Royal Gold's track record of capital allocation including returning capital to shareholders through dividend growth and disciplined use of equity.
Royal gold stream on mount milligan update final (v6.1); revised after callRoyalGold
- Centerra Gold and Thompson Creek Metals entered into an arrangement agreement where Centerra will acquire Thompson Creek.
- The Mount Milligan streaming agreement between Royal Gold and Thompson Creek was amended to combine gold and copper delivery obligations, maintaining Royal Gold's equivalent economic interest.
- The transaction addresses all stakeholder interests, pairs Mount Milligan with a financially strong operator in Centerra, and meets Royal Gold's goals of maintaining value and finding a solid operating partner for Mount Milligan.
Royal Gold held an Analyst and Investor Day on June 3, 2016 to provide information on the company's portfolio, strategy, and performance. Some of the key points discussed included:
- Royal Gold has evolved from an exploration company to a royalty and streaming company with a portfolio of long-life assets producing gold and other metals.
- 80% of the portfolio asset value is in mines with over 15 years of remaining reserve life, including Pueblo Viejo, Mount Milligan, and Andacollo.
- Royal Gold aims to create long-term value by providing leverage to gold price upside through its portfolio of royalty and streaming agreements on quality assets.
- The company emphasizes returning
Royal Gold reported record operating cash flow for the fiscal third quarter of 2017. They had revenue of $107 million for the quarter and an effective tax rate of 23%. Royal Gold repaid $45 million of debt in the quarter and has no additional funding requirements, with $460 million in total available liquidity as of March 31, 2017. The company expects sequential growth in production and revenue from assets such as Rainy River in 2017, Cortez Crossroads in 2018, and Peñasquito Pyrite Leach in 2019.
16 09-14 slw presentation final (for web and print)silverwheaton2016
This document provides an overview and summary of The High Margin Precious Metals Company. It begins with cautionary statements regarding the use of forward-looking statements. It then provides a high-level summary of Silver Wheaton's business model of streaming precious metals, why streaming works, and who Silver Wheaton is as a company. Key points include that Silver Wheaton has a well-diversified, high-quality portfolio of streaming agreements with long-life, low-cost assets. It also discusses Silver Wheaton's largest current assets, growth profile, tax dispute with CRA, and advantages of investing in Silver Wheaton over traditional mining companies.
- The document discusses forward-looking statements and risks associated with Wheaton Precious Metals' business, including commodity price fluctuations and tax disputes.
- Readers are strongly cautioned to review risk factors described in the document and in Wheaton's regulatory filings.
- The document contains Wheaton's cautionary statements regarding forward-looking projections and mineral reserve estimates.
- The document is a presentation from Wheaton Precious Metals discussing their business model of precious metals streaming.
- They have a diversified portfolio of streaming agreements with major mining companies. This provides low-cost, long-life production of silver and gold with significant optionality from development assets.
- Key highlights of their portfolio include the long-life Salobo mine, the high-grade Peñasquito mine, and potential expansion opportunities across several assets.
RBC Capital Markets Global Mining and Materials ConferenceRoyalGold
Royal Gold presented at the RBC Capital Markets Global Mining & Materials Conference in June 2016. The presentation discussed Royal Gold's vision and strategy of providing leverage to gold price upside through a portfolio of royalty and stream assets on long-life mines. It provided an overview of key assets in the portfolio including Pueblo Viejo, Mount Milligan, Andacollo, Rainy River, and Wassa and Prestea. The presentation also covered Royal Gold's track record of capital allocation including returning capital to shareholders through dividend growth and disciplined use of equity.
Royal gold stream on mount milligan update final (v6.1); revised after callRoyalGold
- Centerra Gold and Thompson Creek Metals entered into an arrangement agreement where Centerra will acquire Thompson Creek.
- The Mount Milligan streaming agreement between Royal Gold and Thompson Creek was amended to combine gold and copper delivery obligations, maintaining Royal Gold's equivalent economic interest.
- The transaction addresses all stakeholder interests, pairs Mount Milligan with a financially strong operator in Centerra, and meets Royal Gold's goals of maintaining value and finding a solid operating partner for Mount Milligan.
Royal Gold held an Analyst and Investor Day on June 3, 2016 to provide information on the company's portfolio, strategy, and performance. Some of the key points discussed included:
- Royal Gold has evolved from an exploration company to a royalty and streaming company with a portfolio of long-life assets producing gold and other metals.
- 80% of the portfolio asset value is in mines with over 15 years of remaining reserve life, including Pueblo Viejo, Mount Milligan, and Andacollo.
- Royal Gold aims to create long-term value by providing leverage to gold price upside through its portfolio of royalty and streaming agreements on quality assets.
- The company emphasizes returning
Royal Gold reported record operating cash flow for the fiscal third quarter of 2017. They had revenue of $107 million for the quarter and an effective tax rate of 23%. Royal Gold repaid $45 million of debt in the quarter and has no additional funding requirements, with $460 million in total available liquidity as of March 31, 2017. The company expects sequential growth in production and revenue from assets such as Rainy River in 2017, Cortez Crossroads in 2018, and Peñasquito Pyrite Leach in 2019.
16 09-14 slw presentation final (for web and print)silverwheaton2016
This document provides an overview and summary of The High Margin Precious Metals Company. It begins with cautionary statements regarding the use of forward-looking statements. It then provides a high-level summary of Silver Wheaton's business model of streaming precious metals, why streaming works, and who Silver Wheaton is as a company. Key points include that Silver Wheaton has a well-diversified, high-quality portfolio of streaming agreements with long-life, low-cost assets. It also discusses Silver Wheaton's largest current assets, growth profile, tax dispute with CRA, and advantages of investing in Silver Wheaton over traditional mining companies.
- The document discusses forward-looking statements and risks associated with Wheaton Precious Metals' business, including commodity price fluctuations and tax disputes.
- Readers are strongly cautioned to review risk factors described in the document and in Wheaton's regulatory filings.
- The document contains Wheaton's cautionary statements regarding forward-looking projections and mineral reserve estimates.
- The document is a presentation from Wheaton Precious Metals discussing their business model of precious metals streaming.
- They have a diversified portfolio of streaming agreements with major mining companies. This provides low-cost, long-life production of silver and gold with significant optionality from development assets.
- Key highlights of their portfolio include the long-life Salobo mine, the high-grade Peñasquito mine, and potential expansion opportunities across several assets.
Royal Gold reported strong financial results for the third quarter of fiscal year 2016, with revenue up 26% and volume up 30% compared to the prior year period. Production is expected to increase in calendar year 2016 at several key assets, including Mount Milligan, Pueblo Viejo, and Wassa and Prestea. Royal Gold has $501 million in total available liquidity and extended its revolving credit facility to 2021, providing financial flexibility to fund growth opportunities.
European gold forum, screen apr 2016 (royal gold)RoyalGold
Royal Gold presented at the 2016 European Gold Forum in April. The presentation discussed Royal Gold's growing portfolio of streaming agreements, which is diversified across several quality assets and operators. Recent additions include streams on the Pueblo Viejo mine in the Dominican Republic and the Rainy River project in Canada. Record quarterly results in the December quarter were driven by initial contributions from Pueblo Viejo. Royal Gold has a strong balance sheet and liquidity position to fund its few remaining near-term commitments.
Royal Gold reported strong financial results for its fiscal second quarter of 2017. Revenue increased 9% compared to the prior year quarter to $107 million, driven by higher gold prices and steady production across its portfolio. Operating cash flow grew 34% year-over-year. Production is expected to increase in the coming quarters from new contributions from Rainy River, which is estimated to begin production in September 2017, and from an amended gold-copper stream at Mount Milligan. Royal Gold has no additional funding requirements and $420 million in available liquidity as of December 31, 2016.
- Royal Gold held a luncheon presentation in April 2016 to provide an operational and financial update.
- In Q2 2016, Royal Gold achieved record revenue of $98.1 million and record gold equivalent ounce production of 88,700 ounces, increases of 60% and 74% respectively over the prior year period.
- Key assets like Pueblo Viejo, Rainy River, and Mount Milligan are expected to contribute significantly to future production growth based on operator estimates and projections.
This document provides an overview of Royal Gold, a mining royalty company, including:
- Royal Gold holds a portfolio of long-lived mining assets that are expected to provide substantial near-term growth from projects like Mt. Milligan and Pascua-Lama.
- Market conditions for mining companies have become less favorable, with lower equity financing and increasing debt costs, creating opportunities for Royal Gold's acquisitions.
- Royal Gold's key assets include royalties on Barrick's Pascua-Lama project in South America and Thompson Creek's Mt. Milligan copper/gold mine in Canada, which is expected to reach commercial production in late 2013.
- Royal Gold has a
The document provides an overview of Royal Gold's October 2014 presentation. It highlights near-term growth driven by ramping production at Mt. Milligan mine. It also notes Royal Gold's $1 billion in uncommitted capital to invest in royalty/streaming opportunities and its portfolio of long-lived, high-quality assets including Peñasquito, Voisey's Bay and Cortez. The presentation concludes that Royal Gold offers strong per-share metrics and opportunities for growth but trades at a lower valuation than peers.
- PetroMagdalena Energy is building on past success by focusing on organic cash flow opportunities in its portfolio in Colombia through activities like enhancing netbacks, reducing costs, and increasing efficiency.
- The company plans to increase development activity in 2012 in the Llanos Basin following exploration success there.
- The 2012 work program is estimated between $70-80 million, with 65% directed towards light oil exploration and development in key areas like Cubiro and Arrendajo. This includes 10 development wells and 3 exploration wells for the rest of the year.
This investor presentation provides an overview of Rowan Companies and highlights reasons for investing in the company. Some key points include:
- Rowan has differentiated itself in the offshore drilling industry by focusing on demanding wells and owning a fleet of high-specification rigs well-positioned for key markets.
- The company has a large, diversified contract backlog that extends into 2018 and a strong balance sheet to pursue growth opportunities.
- Industry dynamics are favorable for Rowan as older rigs nearing the end of their lifespans will need to be replaced, and the company's rigs have scored well above average in capability assessments.
This document provides an overview of North American Palladium's Lac des Iles mine. It summarizes that the mine has increased proven and probable reserves to 1.3 million ounces of palladium through 2019. It also notes 57 million tonnes of measured and indicated resources beyond reserves, and 15.7 million tonnes of inferred resources. The presentation outlines plans to increase mining rates to 5,000 tonnes per day by the end of 2014 in order to lower costs and extend the mine life.
2014 website tj annual meeting final nov 14 2014RoyalGold
Royal Gold held its 2014 Annual Meeting in November. Key highlights included strong volume growth driven by the ramp up of Mt. Milligan and development of the Phoenix project. Royal Gold has a quality portfolio with long mine lives at its largest investments and a focus on investment-grade counterparties and jurisdictions. Financially, Royal Gold has over $900 million in liquidity and a track record of increasing its dividend for 14 consecutive years while maintaining a competitive payout ratio.
The document summarizes Royal Gold's presentation at the 2014 Denver Gold Forum. It highlights Royal Gold's growth driven by ramping up production at Mt. Milligan mine. It also notes Royal Gold's portfolio of long-lived, high-quality assets and significant capital available to pursue new investment opportunities. The document contains cautionary statements about forward-looking production estimates.
- The document is a presentation from Wheaton Precious Metals discussing their business model of precious metals streaming.
- They have a diversified portfolio of streaming agreements with operating mines and development projects around the world. This provides low-cost, long-life production of gold and silver.
- Key assets include Salobo, Peñasquito, Antamina, and Constancia, which collectively account for the majority of their forecasted production over the next 5 years. They also have additional optionality from development assets.
This investor presentation provides an overview of North American Palladium Ltd.'s Lac des Iles palladium mine in Ontario, Canada. Some key points:
- The palladium market is expected to remain in deficit due to constrained global supply and growing demand from the automotive sector.
- Lac des Iles is a world-class asset with significant exploration potential. Production is increasing while costs are decreasing.
- In 2014, guidance includes producing 170,000-175,000 ounces of palladium at a cash cost of around $550/ounce, declining to $450/ounce by Q4.
- Exploration drilling continues to show promise in expanding the Offset Zone resource at depth and along strike.
Royal Gold presented at the CIBC 20th Annual Whistler Institutional Investor Conference on January 25, 2017. The presentation highlighted Royal Gold's industry-leading margins, estimated volume growth through 2021 from existing streams, and optionality from operators' exploration and development activities. Royal Gold also discussed its track record of increasing dividends annually for the past 16 years and generating higher gold equivalent ounces per share than peers, providing industry-leading returns to shareholders. The presentation concluded with an overview of Royal Gold's portfolio of streams and royalties on 38 producing properties.
The document provides an overview of Royal Gold's October 2014 presentation. It highlights near-term growth from ramping up production at Mt. Milligan mine. It also emphasizes Royal Gold's quality portfolio with long-lived assets, focused investment criteria, and $1 billion in capital available for deals. The presentation shows Royal Gold has strong per-share metrics and opportunities for growth but also trades at a lower valuation compared to competitors.
- Purest Silver Publicly Listed Company +90% Revenues from Silver focuses on silver production and exploration in Mexico with over 16 years of success.
- IMPACT operates multiple underground mines and a processing plant, producing over 11 million ounces of silver since 2006. Production is primarily from high grade silver-lead-zinc epithermal veins.
- IMPACT is leveraged to rising silver prices, with its share price historically generating significantly higher returns than silver in bull markets due to high silver production and ounces in the ground.
This document discusses Penn Virginia's (PVA's) presentation at the BMO Capital Markets 10th Annual Unconventional Resource Conference on January 8, 2012. It begins with forward-looking statements and definitions of proved, probable and possible oil and gas reserves. It then provides a high-level overview of PVA, including its transition to focus on oil and liquids-rich plays like the Eagle Ford Shale. The document summarizes PVA's key assets and highlights its multi-year drilling inventory in the Eagle Ford Shale play.
Sage march 2013 investor presentation currentSagegold
Sage Gold's short term plan is to develop the existing resource at their Clavos deposit to generate cash flow through near term production. A Preliminary Economic Assessment shows a robust project with a 71% pre-tax IRR. Existing infrastructure and permits are in place to begin re-opening the Clavos mine in 2013. Sage also has a JV with St Andrew Goldfields providing access to a mill and existing underground development at the Clavos property in the prolific Timmins gold camp of Ontario. The updated NI43-101 shows indicated resources of 194,600 ounces and inferred resources of 120,000 ounces of gold at the Clavos deposit.
NAP's Lac des Iles mine in Ontario, Canada is one of only two primary palladium mines in the world. The presentation discusses expanding production at LDI through mine expansion projects which offer production growth and decreasing cash costs. It also notes significant development and exploration upside at LDI and other properties to complement existing mill capacity and infrastructure. Management is experienced and aims to reduce risks through projects at LDI, which has been producing palladium for 20 years.
This document discusses North American Palladium as an investment opportunity. It presents NAP as a growth-oriented precious metals producer with palladium and gold mining operations in mining-friendly jurisdictions. It notes that palladium supply is constrained, with global mine production of only 6.8 million ounces annually, while demand is increasing due to growth in the automotive sector. The document also highlights NAP's strong financial position with $95.7 million in working capital and $110 million in pro forma cash to fund development programs.
Royal Gold reported strong financial results for the third quarter of fiscal year 2016, with revenue up 26% and volume up 30% compared to the prior year period. Production is expected to increase in calendar year 2016 at several key assets, including Mount Milligan, Pueblo Viejo, and Wassa and Prestea. Royal Gold has $501 million in total available liquidity and extended its revolving credit facility to 2021, providing financial flexibility to fund growth opportunities.
European gold forum, screen apr 2016 (royal gold)RoyalGold
Royal Gold presented at the 2016 European Gold Forum in April. The presentation discussed Royal Gold's growing portfolio of streaming agreements, which is diversified across several quality assets and operators. Recent additions include streams on the Pueblo Viejo mine in the Dominican Republic and the Rainy River project in Canada. Record quarterly results in the December quarter were driven by initial contributions from Pueblo Viejo. Royal Gold has a strong balance sheet and liquidity position to fund its few remaining near-term commitments.
Royal Gold reported strong financial results for its fiscal second quarter of 2017. Revenue increased 9% compared to the prior year quarter to $107 million, driven by higher gold prices and steady production across its portfolio. Operating cash flow grew 34% year-over-year. Production is expected to increase in the coming quarters from new contributions from Rainy River, which is estimated to begin production in September 2017, and from an amended gold-copper stream at Mount Milligan. Royal Gold has no additional funding requirements and $420 million in available liquidity as of December 31, 2016.
- Royal Gold held a luncheon presentation in April 2016 to provide an operational and financial update.
- In Q2 2016, Royal Gold achieved record revenue of $98.1 million and record gold equivalent ounce production of 88,700 ounces, increases of 60% and 74% respectively over the prior year period.
- Key assets like Pueblo Viejo, Rainy River, and Mount Milligan are expected to contribute significantly to future production growth based on operator estimates and projections.
This document provides an overview of Royal Gold, a mining royalty company, including:
- Royal Gold holds a portfolio of long-lived mining assets that are expected to provide substantial near-term growth from projects like Mt. Milligan and Pascua-Lama.
- Market conditions for mining companies have become less favorable, with lower equity financing and increasing debt costs, creating opportunities for Royal Gold's acquisitions.
- Royal Gold's key assets include royalties on Barrick's Pascua-Lama project in South America and Thompson Creek's Mt. Milligan copper/gold mine in Canada, which is expected to reach commercial production in late 2013.
- Royal Gold has a
The document provides an overview of Royal Gold's October 2014 presentation. It highlights near-term growth driven by ramping production at Mt. Milligan mine. It also notes Royal Gold's $1 billion in uncommitted capital to invest in royalty/streaming opportunities and its portfolio of long-lived, high-quality assets including Peñasquito, Voisey's Bay and Cortez. The presentation concludes that Royal Gold offers strong per-share metrics and opportunities for growth but trades at a lower valuation than peers.
- PetroMagdalena Energy is building on past success by focusing on organic cash flow opportunities in its portfolio in Colombia through activities like enhancing netbacks, reducing costs, and increasing efficiency.
- The company plans to increase development activity in 2012 in the Llanos Basin following exploration success there.
- The 2012 work program is estimated between $70-80 million, with 65% directed towards light oil exploration and development in key areas like Cubiro and Arrendajo. This includes 10 development wells and 3 exploration wells for the rest of the year.
This investor presentation provides an overview of Rowan Companies and highlights reasons for investing in the company. Some key points include:
- Rowan has differentiated itself in the offshore drilling industry by focusing on demanding wells and owning a fleet of high-specification rigs well-positioned for key markets.
- The company has a large, diversified contract backlog that extends into 2018 and a strong balance sheet to pursue growth opportunities.
- Industry dynamics are favorable for Rowan as older rigs nearing the end of their lifespans will need to be replaced, and the company's rigs have scored well above average in capability assessments.
This document provides an overview of North American Palladium's Lac des Iles mine. It summarizes that the mine has increased proven and probable reserves to 1.3 million ounces of palladium through 2019. It also notes 57 million tonnes of measured and indicated resources beyond reserves, and 15.7 million tonnes of inferred resources. The presentation outlines plans to increase mining rates to 5,000 tonnes per day by the end of 2014 in order to lower costs and extend the mine life.
2014 website tj annual meeting final nov 14 2014RoyalGold
Royal Gold held its 2014 Annual Meeting in November. Key highlights included strong volume growth driven by the ramp up of Mt. Milligan and development of the Phoenix project. Royal Gold has a quality portfolio with long mine lives at its largest investments and a focus on investment-grade counterparties and jurisdictions. Financially, Royal Gold has over $900 million in liquidity and a track record of increasing its dividend for 14 consecutive years while maintaining a competitive payout ratio.
The document summarizes Royal Gold's presentation at the 2014 Denver Gold Forum. It highlights Royal Gold's growth driven by ramping up production at Mt. Milligan mine. It also notes Royal Gold's portfolio of long-lived, high-quality assets and significant capital available to pursue new investment opportunities. The document contains cautionary statements about forward-looking production estimates.
- The document is a presentation from Wheaton Precious Metals discussing their business model of precious metals streaming.
- They have a diversified portfolio of streaming agreements with operating mines and development projects around the world. This provides low-cost, long-life production of gold and silver.
- Key assets include Salobo, Peñasquito, Antamina, and Constancia, which collectively account for the majority of their forecasted production over the next 5 years. They also have additional optionality from development assets.
This investor presentation provides an overview of North American Palladium Ltd.'s Lac des Iles palladium mine in Ontario, Canada. Some key points:
- The palladium market is expected to remain in deficit due to constrained global supply and growing demand from the automotive sector.
- Lac des Iles is a world-class asset with significant exploration potential. Production is increasing while costs are decreasing.
- In 2014, guidance includes producing 170,000-175,000 ounces of palladium at a cash cost of around $550/ounce, declining to $450/ounce by Q4.
- Exploration drilling continues to show promise in expanding the Offset Zone resource at depth and along strike.
Royal Gold presented at the CIBC 20th Annual Whistler Institutional Investor Conference on January 25, 2017. The presentation highlighted Royal Gold's industry-leading margins, estimated volume growth through 2021 from existing streams, and optionality from operators' exploration and development activities. Royal Gold also discussed its track record of increasing dividends annually for the past 16 years and generating higher gold equivalent ounces per share than peers, providing industry-leading returns to shareholders. The presentation concluded with an overview of Royal Gold's portfolio of streams and royalties on 38 producing properties.
The document provides an overview of Royal Gold's October 2014 presentation. It highlights near-term growth from ramping up production at Mt. Milligan mine. It also emphasizes Royal Gold's quality portfolio with long-lived assets, focused investment criteria, and $1 billion in capital available for deals. The presentation shows Royal Gold has strong per-share metrics and opportunities for growth but also trades at a lower valuation compared to competitors.
- Purest Silver Publicly Listed Company +90% Revenues from Silver focuses on silver production and exploration in Mexico with over 16 years of success.
- IMPACT operates multiple underground mines and a processing plant, producing over 11 million ounces of silver since 2006. Production is primarily from high grade silver-lead-zinc epithermal veins.
- IMPACT is leveraged to rising silver prices, with its share price historically generating significantly higher returns than silver in bull markets due to high silver production and ounces in the ground.
This document discusses Penn Virginia's (PVA's) presentation at the BMO Capital Markets 10th Annual Unconventional Resource Conference on January 8, 2012. It begins with forward-looking statements and definitions of proved, probable and possible oil and gas reserves. It then provides a high-level overview of PVA, including its transition to focus on oil and liquids-rich plays like the Eagle Ford Shale. The document summarizes PVA's key assets and highlights its multi-year drilling inventory in the Eagle Ford Shale play.
Sage march 2013 investor presentation currentSagegold
Sage Gold's short term plan is to develop the existing resource at their Clavos deposit to generate cash flow through near term production. A Preliminary Economic Assessment shows a robust project with a 71% pre-tax IRR. Existing infrastructure and permits are in place to begin re-opening the Clavos mine in 2013. Sage also has a JV with St Andrew Goldfields providing access to a mill and existing underground development at the Clavos property in the prolific Timmins gold camp of Ontario. The updated NI43-101 shows indicated resources of 194,600 ounces and inferred resources of 120,000 ounces of gold at the Clavos deposit.
NAP's Lac des Iles mine in Ontario, Canada is one of only two primary palladium mines in the world. The presentation discusses expanding production at LDI through mine expansion projects which offer production growth and decreasing cash costs. It also notes significant development and exploration upside at LDI and other properties to complement existing mill capacity and infrastructure. Management is experienced and aims to reduce risks through projects at LDI, which has been producing palladium for 20 years.
This document discusses North American Palladium as an investment opportunity. It presents NAP as a growth-oriented precious metals producer with palladium and gold mining operations in mining-friendly jurisdictions. It notes that palladium supply is constrained, with global mine production of only 6.8 million ounces annually, while demand is increasing due to growth in the automotive sector. The document also highlights NAP's strong financial position with $95.7 million in working capital and $110 million in pro forma cash to fund development programs.
The document discusses the internet and how it has become an indispensable tool in our daily lives. It is used for finding information through search engines like Google, communicating through email and social media, gaming, blogging, watching videos, and downloading music. While the internet provides easy access to information, not all online sources are reliable. It emphasizes that the internet can be used to do almost anything as long as it is used properly.
Nguyen Bich Ha has worked in retail management, sales, and administration. She has over 5 years of work experience, including her current role as Store Manager for a trading company in Ho Chi Minh City since 2014. She also previously worked as a Sales Executive and part-time Administrative Assistant. Nguyen Bich Ha holds a Bachelor's degree in Accounting and Finance from Ho Chi Minh City College of Economics - Technical. She is proficient in Microsoft Office applications and Vietnamese.
This document appears to be an introductory header that includes the author's name, student ID, and program of study but does not contain any additional context or body. As such, it does not provide enough information to generate a meaningful 3 sentence summary.
The document is a product pitch from The Audio Syndicate targeting 16-24 year olds who listen to electronic, dance and hip hop music. It proposes hiring an editing suite for 5 days to create high quality promotional videos without copyright issues. A budget spreadsheet calculates costs of £375 per day for the suite, £68.90 for travel, and £5 per day for food, totaling £93.90 in personnel costs. The marketing campaign aims to boost revenue through advertisers on videos, increased record sales, more bookings of the label's recording studio and equipment rentals.
Mahatma Gandhi led the non-violent national freedom struggle against British rule in India. Subhash Chandra Bose formed the Indian National Army to fight for India's independence. Lal Bahadur Shastri was the organizer of the Green Revolution and coined the slogan "Jai Jawan Jai Kisan." Bhagat Singh was a revolutionary martyr who fought against British colonial rule through non-violent protest and hunger strikes.
Preferred Management Solutions is a UK-wide reactive maintenance company that manages over 2,000 claims per month. It has over 600 partner tradespeople and 5 specialist sites across the UK. The company aims to expand its capacity to over 10,000 claims per month through continued investment in its bespoke job management software.
Royal gold stream on mount milligan update final (v6.1); revised after callRoyalGold
- Thompson Creek Metals Company owns the Mount Milligan mine in British Columbia, Canada. It has significant gold and copper reserves but faces debt repayment issues.
- Royal Gold has a streaming agreement for gold from Mount Milligan that represents a major portion of its revenue and reserves.
- Royal Gold worked with Centerra Gold and Thompson Creek to negotiate an arrangement where Centerra will acquire Thompson Creek and amend Royal Gold's streaming agreement. This will ensure continued operation of Mount Milligan and maintain value for Royal Gold. The transaction is expected to close in the fall of 2016 pending approvals.
Tony Jensen, President and CEO of Royal Gold, presented at the Denver Gold Forum on September 23, 2013. He discussed Royal Gold's embedded growth from projects like Mt. Milligan and Pascua-Lama, which are expected to increase production by around 50% from current levels. Royal Gold is financially robust with high margins, significant liquidity, and a low-cost business model. The current market environment favors streaming and royalty companies as mining operators face challenges accessing capital through equity and debt markets.
Royal gold presentation june 5 2017 final-1- scotia coverRoyalGold
- Royal Gold presented at the Scotiabank Senior Precious Metals Day on June 5, 2017.
- Royal Gold has a portfolio of 38 producing assets, with embedded growth from new projects like Rainy River and Cortez Crossroads.
- Royal Gold has a track record of increasing dividends for 16 consecutive years and generating higher gold equivalent ounces per share than peers.
Goldman presentation nov 2014 final screenRoyalGold
This document summarizes Royal Gold's presentation at an annual mining conference. It highlights Royal Gold's solid portfolio and future growth opportunities. Specifically, it notes that near-term growth is being driven by the ramp-up of production at the Mt. Milligan mine. It also states that Royal Gold has over $900 million in uncommitted capital available to invest in new royalty and streaming deals. Finally, it indicates that Royal Gold currently trades at a discount to its historical price-to-book value ratio, representing long-term value.
Cowen and Company 5th Annual Global Metals, Mining & Materials ConferenceRoyalGold
- Royal Gold owns royalties on several mining projects including Mt. Milligan, Peñasquito, Voisey's Bay, and Andacollo which provide near-term growth and long mine lives.
- The company has over $900 million available to invest in new royalty deals and focuses on high-quality assets from investment-grade companies with world-class long-lived reserves.
- Royal Gold's portfolio provides a solid foundation for future growth while trading at a discount to its historical valuation multiples.
This document provides an overview and summary of Royal Gold Inc.'s portfolio and future opportunities from a presentation given in December 2014. The summary includes:
1) Royal Gold has a solid portfolio with near-term growth driven by the ramp-up of the Mt. Milligan mine. Over 90% of 2014 production came from long-lived mines with mine lives of over 20 years on average.
2) The company has over $900 million in uncommitted capital to pursue new investment opportunities in the mining sector. Deals over $100 million would provide meaningful additions to the portfolio.
3) Royal Gold's portfolio generates high margins, with underlying properties reporting an average cash cost of $578 per ounce and gross
The document provides an overview of Royal Gold Inc. from its conference presentation on June 13, 2017. It discusses Royal Gold's record operating cash flow in recent quarters, growth opportunities from new mining projects coming online in 2017-2019, and its track record of returning value to shareholders through rising dividends and outperforming peers on production growth and total returns. Royal Gold has a portfolio of streaming and royalty interests that provides exposure to gold and copper production with low costs and high margins.
Royal gold, egf presentation (ka), may 2014RoyalGold
Karli Anderson, Vice President of Investor Relations at Royal Gold, presented at a May 2014 meeting. The presentation discussed Royal Gold's growth trajectory, strong financial position, and favorable market environment. Royal Gold has over 200 royalty and streaming interests globally, including 37 producing assets. The company is positioned for continued growth through projects like Mt. Milligan and Phoenix, which could increase Royal Gold's gold equivalent production by around 50% over the next few years. Royal Gold also has a robust balance sheet with nearly $1.1 billion in available liquidity.
The document discusses Wheaton Precious Metals, a streaming company that provides upfront capital to mining companies in exchange for silver and gold production at a low fixed cost per ounce. It has a diversified portfolio of high-quality, long-life assets producing over 370,000 gold equivalent ounces annually with over 30 years of mine life remaining. Wheaton has a strong balance sheet, low production costs, and significant optionality from development projects. It also faces a C$399 million tax dispute with the CRA from 2005-2010.
This document summarizes a presentation given by Bill Heissenbuttel of Barclays Select Series on their metals and materials cross asset forum in March 2015. The key points are:
1) Mount Milligan is proving transformational for growth as ramp-up continues providing an excellent platform for growth.
2) Royal Gold has high quality properties, counterparties, and jurisdictions in its portfolio.
3) Royal Gold has approximately $1.2 billion in liquidity and is balancing growth opportunities with returning capital to shareholders.
Morgan Stanley Metals & Mining Corporate Access Day - Royal Gold presentationRoyalGold
The document is a presentation by Morgan Stanley Metals & Mining discussing Royal Gold's portfolio. It contains the following key points:
1) Royal Gold has a solid portfolio with long-lived, high-quality assets that provide both near-term growth and future upside potential. Mount Milligan is a key growth driver currently ramping up production.
2) The company has a world-class portfolio of royalties on large, long-life mines with major operators like Goldcorp and Vale. Over half of Royal Gold's revenues come from investment-grade counterparties.
3) Royal Gold is well positioned for further growth and investment, with around $1.2 billion in liquidity and a
This document is a presentation from Royal Gold's Vice President of Corporate Development given on February 25, 2018. The summary discusses Royal Gold's strong performance over the past year in generating cash flow, focus on using free cash flow to reduce debt, embedded growth from expected production increases at several of its stream and royalty properties in 2018-2019, and its diverse portfolio of producing and development assets.
Royal Gold held its annual meeting on November 16, 2016. In his presentation, President and CEO Tony Jensen discussed Royal Gold's strategy of investing in long-lived mining assets to generate cash flow and provide optionality. He highlighted recent transactions that expanded the portfolio, including increasing Royal Gold's interest in the Cortez mine. Jensen also emphasized Royal Gold's commitment to paying a growing dividend and disciplined capital allocation.
Royal Gold hosted a metals conference on the Jersey Shore on August 3, 2017. Vice President Karli Anderson presented information on Royal Gold's recent developments, business model, growth opportunities, and track record. Some key points included: Royal Gold reported two straight quarters of record operating cash flow. The company has volume growth already committed from properties like Rainy River, Cortez Crossroads, and Peñasquito pyrite leach. Optionality exists through operators' exploration and projects with no additional capital required from Royal Gold. Royal Gold has consistently delivered industry-leading returns through rising dividends, higher gold equivalent ounces per share than peers, and outperforming gold indexes on total returns.
Royal Gold reported its fiscal 2016 fourth quarter results on August 11, 2016. Centerra Gold will acquire Thompson Creek Metals, which owns the Mount Milligan mine where Royal Gold has a streaming agreement. The agreement will be amended to maintain equivalent value for Royal Gold. Production is expected to increase at several of Royal Gold's stream and royalty properties in 2016 and 2017, including Pueblo Viejo, Peñasquito, Wassa, and Prestea. Rainy River construction is 40% complete with production expected to begin in late 2017. Royal Gold had $517 million in available liquidity as of June 30, 2016 and generated $49.2 million in operating cash flow in the fourth quarter.
Royal Gold held its annual RBC Global Mining & Materials Conference in June 2015. CEO Tony Jensen highlighted Mount Milligan's strong performance, providing an excellent growth platform. Royal Gold has a high quality portfolio of long-lived assets from major counterparties and jurisdictions. With $1.4 billion in liquidity, Royal Gold is well positioned to pursue further growth opportunities while returning capital to shareholders.
This document provides an overview and summary of Royal Gold Inc., a royalty and streaming company. It discusses Royal Gold's portfolio of long-lived, high-quality assets that generate strong cash margins. Two key growth assets highlighted are Mt. Milligan, an open-pit copper/gold mine in BC, Canada that is expected to reach commercial production in Q4 2013, and Pascua-Lama, a large gold/silver project straddling the Chile-Argentine border. The document also notes Royal Gold's strong balance sheet and liquidity position, positioning it well for further growth opportunities.
Royal Gold provided an overview of its business and outlook. It reported record revenue, volume, and EBITDA in the past year driven by growth in its largest royalty and stream interests. It expects contributions from these interests as well as new streams on Pueblo Viejo, Rainy River, Andacollo, and Wassa/Prestea to further diversify its portfolio and drive continued growth. Royal Gold also returned capital to shareholders through a dividend increased in 2016 to $0.92 per share, representing a 21% compound annual growth rate since 2001.
Tony Jensen, President and CEO of BAML Canada Mining, discussed Royal Gold's strategy and vision. Royal Gold provides capital to mining companies in exchange for gold production from their mines. Royal Gold focuses on investing in long-lived, high-quality assets that produce mainly gold. It pays a growing dividend from the cash flow of its portfolio of streaming and royalty agreements on producing mines. Royal Gold aims to create long-term value for shareholders by leveraging gold prices and reserves through disciplined capital allocation.
Denver Gold Forum presentation - Royal GoldRoyalGold
The document summarizes the 2014 Denver Gold Forum presentation by Tony Jensen, President and CEO of Royal Gold. It highlights Royal Gold's solid portfolio and future growth opportunities, including near-term growth from ramping production at Mt. Milligan mine. It also notes Royal Gold's $1 billion in uncommitted capital available to invest in royalty/streaming deals over $100 million, and that the company offers strong per-share metrics at a relatively low valuation compared to peers.
Similar to Royal gold stream on mount milligan update final (v5) (20)
Rgld john tumazos revised screen, june 2018RoyalGold
Royal Gold reported steady cash flow generation over the last 12 months. It is quickly deleveraging its balance sheet and expects to repay its revolving credit facility by June 2018. The company has embedded growth from projects coming online in 2018 at Cortez Crossroads and Peñasquito Leach, and from throughput, recovery, and grade improvements at operating mines like Rainy River, Wassa, and Mount Milligan. Royal Gold's portfolio provides long-term optionality through development projects like Pueblo Viejo and La Fortuna, and potential resource expansions.
RGLD is a gold and precious metals royalty and streaming company. The summary discusses RGLD's strong cash flow generation over the past year, focus on quickly reducing debt levels, and embedded organic growth from assets in its portfolio. Key assets providing near-term growth include Rainy River mine and potential new production from Cortez Crossroads and Peñasquito Leach projects. The document also outlines long-term optionality and development/permitting activity across RGLD's diverse global portfolio of 192 assets.
- Royal Gold provides a presentation on its performance and growth opportunities. It discusses steady cash flow generation over the last 12 months and focus on using cash flow to reduce debt. Embedded growth opportunities include production ramp ups at Cortez Crossroads and Peñasquito Leach and throughput improvements at Rainy River and Mount Milligan. The company has a diverse portfolio of assets providing long-term optionality through development and permitting activities as well as reserve increases.
- The document is a presentation by Royal Gold providing an overview and update on their business.
- It highlights Royal Gold's track record of steady cash flow generation and focus on using cash flows to quickly reduce debt levels.
- The presentation also outlines Royal Gold's embedded organic growth opportunities through projects coming online at properties in their portfolio, as well as their diverse portfolio of assets providing long-term optionality.
RGLD provides a presentation summarizing its performance and outlook. It highlights steady cash flow generation over the last year. RGLD is also quickly deleveraging its balance sheet, having repaid $75 million in debt in March 2018. The presentation also outlines RGLD's embedded growth opportunities from assets like Cortez Crossroads and Peñasquito Leach. RGLD has a diverse portfolio of 192 assets, with updates provided on several properties showing increased reserves.
Bof aml website final (v3.1) handouts may 2018RoyalGold
Royal Gold reported steady cash flow generation over the last 12 months. It is focused on using cash flow to quickly delever its balance sheet, with a goal of repaying its revolver by June 2018. Royal Gold has embedded growth from projects such as Cortez Crossroads and Peñasquito Leach that are expected to begin or ramp up production in 2018. It also has long-term optionality from its diverse portfolio that includes projects in development or with resource expansion potential.
Q3 final fiscal year 2018 earnings presentation may 3 2018RoyalGold
- Royal Gold reported third fiscal quarter 2018 results with revenue of $116 million, up 8% year-over-year, driven by first sales from the Rainy River mine and a higher gold price. They reported a net loss but adjusted earnings of $0.48 per share, up 32%.
- Near-term growth is expected from potential increased production at Rainy River and new production from Cortez Crossroads and Peñasquito Leach in 2018.
- Royal Gold continues to delever its balance sheet, repaying another $75 million of debt in March 2018 and expects to repay its revolver before June 30, 2018 and convertible bonds in 2019 using cash flow.
Webcast royal gold revised (standard size) animation (final) egf presentation...RoyalGold
Royal Gold reported strong cash flow generation and is quickly deleveraging its balance sheet. It expects to repay its credit facility before June 30, 2018 and repay bonds maturing in 2019 using cash and the credit facility. Royal Gold has embedded growth through expected production increases at several properties, including Rainy River and from the start-up of Cortez Crossroads. It maintains a diverse portfolio of assets, strong margins, and a lean cost structure. Royal Gold strategically allocates capital and has significant mine life remaining across its portfolio.
Royal gold revised cibc gold forum presentation, apr 2018RoyalGold
This presentation by Royal Gold's CFO discusses the company's performance and outlook. Some key points include:
- Royal Gold expects continued strong cash flow generation in fiscal year 2018, allowing it to quickly pay down debt. It expects to repay its credit facility by June 2018 and use cash to repay bonds maturing in 2019.
- The company has embedded growth through expected production increases at several of its stream and royalty properties over the next few years, including Rainy River, Cortez Crossroads, and Peñasquito Leach.
- Royal Gold maintains a diverse portfolio of stream and royalty interests that provides stability, with ongoing development, exploration, and reserve growth at several properties.
Royal Gold reported strong cash flow generation in fiscal year 2017 and the last twelve months. They are focusing on using free cash flow to quickly reduce debt levels. Embedded growth is expected from Rainy River mine deliveries building in 2018, production from Cortez Crossroads and Peñasquito Leach starting in 2019, and potential increases from Wassa, Prestea, and Mount Milligan. Royal Gold has a diverse portfolio of stream and royalty assets that provides efficiency through strong margins and a lean cost structure. They employ strategic capital allocation and have a long weighted average remaining mine life.
Q2 fiscal year 2018 earnings presentation feb 8 2018 final (v2)RoyalGold
Royal Gold reported second quarter fiscal year 2018 results. Revenue was $114 million, up 7% from the prior year, driven by stronger production at several South American mines and first sales from Rainy River. Reported loss was $0.23 per share due to one-time impacts of US tax reform. Adjusted earnings excluding these impacts was $0.41 per share, up 16%. Cash flow from operations was $76 million, up 8%. The company expects continued growth in 2018 from ramping up production at Rainy River and new projects coming online.
This presentation by Tony Jensen, President and CEO of Royal Gold, provides an overview of the company for investors at the CIBC 2018 Whistler Institutional Conference. Royal Gold is a precious metals streaming and royalty company that is generating strong cash flow growth, has embedded growth from new projects coming online in 2018, maintains high margins and a lean structure. The company focuses on disciplined capital allocation, equity stewardship, and returning value to shareholders through growing dividend returns over its history. Royal Gold's portfolio includes streaming agreements on the Rainy River and Cortez Crossroads projects which are expected to provide production growth in 2018.
This presentation discusses Royal Gold's outlook on the gold industry. It argues that gold is becoming increasingly precious and scarce as exploration has become less efficient at finding reserves and lead times to develop new mines have increased. It also argues that gold remains a valuable and competitive investment, having outperformed other asset classes historically. It notes that successful gold companies trade at a premium to the overall market value of gold equities. The presentation aims to emphasize the importance of Royal Gold pursuing a strategy of long term value creation through its stream and royalty portfolio.
This document summarizes Royal Gold's presentation at the Goldman Sachs Global Metals and Mining Conference on November 29, 2017. The summary points are:
1) Royal Gold reported operating cash flow growth in Q1 FY18 building on record performance in fiscal year 2017, and is quickly deleveraging its balance sheet.
2) The company has several sequential growth catalysts in calendar years 2017 and 2018, including ramping production at its newly operating Rainy River mine and the planned startups of Cortez Crossroads in 2018 and an accelerated pyrite leach project at Peñasquito.
3) Royal Gold has a diverse portfolio of stream and royalty interests, strong margins, a
Q1 fiscal year 2018 earnings presentation nov 2 2017 finalRoyalGold
Royal Gold reported first quarter 2018 results with revenue of $112 million and earnings of $0.44 per share. Notable developments included Rainy River mine achieving commercial production ahead of schedule, repayment of $50 million in debt, and over $900 million in liquidity. Embedded growth opportunities over the next two years include expected production from Cortez Crossroads in 2018 and the Peñasquito Pyrite Leach project in late 2017.
This presentation by Tony Jensen, President and CEO of Royal Gold, Inc. discusses the company's business strategy and outlook. Some key points:
- Royal Gold has a 20+ year track record of generating solid cash flow from its diverse portfolio of streaming and royalty agreements. It aims to maintain this performance through embedded growth from new projects.
- The company is quickly deleveraging its balance sheet and sees growth catalysts from new projects coming online in 2017, 2018 and 2019, including Rainy River, Cortez Crossroads, and Peñasquito Pyrite Leach.
- Royal Gold focuses on strong margins, a lean cost structure, strategic capital allocation, equity stewardship and returning dividends to shareholders
This document contains a cautionary statement regarding forward-looking statements in a presentation by Bank of America Merrill Lynch Vice President William Heissenbuttel on September 8, 2017. It summarizes Royal Gold's fiscal year 2017 highlights including record revenue, cash flow, and dividends. It outlines Royal Gold's growth strategy of acquiring streams and royalties on mines with upcoming production catalysts in 2017, 2018, and 2019 including Rainy River, Cortez Crossroads, and Peñasquito Pyrite Leach.
This presentation discusses Royal Gold's portfolio of stream and royalty assets. It highlights several upcoming growth catalysts expected between 2017-2019 including new production from Rainy River in 2017, Cortez Crossroads in 2018, and Peñasquito Pyrite Leach in 2019. The presentation also notes Royal Gold's record revenue, cash flow from operations, and dividends in fiscal year 2017. It emphasizes the company's strong liquidity position and track record of growth while maintaining a conservative leverage ratio.
Royal Gold reported record revenue, cash flow from operations, volume, and dividends for fiscal year 2017. It also repaid $95 million in debt and has over $850 million in liquidity with no additional capital commitments. The company has sequential growth catalysts already funded at its streaming and royalty properties, including first production expected at Rainy River in calendar year 2017, startup of Cortez Crossroads in 2018, and startup of the Peñasquito Pyrite Leach project in 2019. Royal Gold expects its overall revenue profile to remain approximately 85% from precious metals based on current operator forecasts through fiscal years 2018 to 2020.
Royal gold presentation egf - final screenRoyalGold
- Royal Gold provides concise summaries of key documents in 3 sentences or less.
- The document is a presentation from Royal Gold's CFO and Treasurer given at the European Gold Forum on April 5, 2017 that discusses Royal Gold's business model, margins, growth, and portfolio of streaming and royalty assets.
- The presentation highlights Royal Gold's high margins, embedded growth from recent transactions, optionality from operator activities, and track record of industry-leading returns through production growth and dividend increases.
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The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
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Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
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Cautionary Statement
2
This presentation contains certain forward‐looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ
materially from the projections and estimates contained herein and include, but are not limited to: the proposed Arrangement Agreement
between Centerra Gold and Thompson Creek Metals and receipt of approvals required to complete the Arrangement Agreement; expected
gold and copper production, cost, reserve and mine life estimates and forecasts from the operators of the Mount Milligan mine; anticipated
growth in the volume of metals subject to the Company’s royalty and stream interests; elimination of market uncertainty related to Mount
Milligan; adequacy of liquidity; sources and uses of capital; projected cash balances and leverage amounts; statements concerning Centerra’s
cash position, net debt position, pro forma cash flows, dividend rates and market valuation; statements concerning continued operation of
Mount Milligan regardless of the operator’s financial situation; and statements or estimates from operators of properties where we have
royalty and stream interests regarding their projections of steady, increasing or decreasing production while in operation. Factors that could
cause actual results to differ materially from these forward‐looking statements include, among others: the risks inherent in construction,
development and operation of mining properties, including those specific to new mines being developed and operated in foreign countries;
changes in gold, silver, copper, nickel and other metals prices; performance of and production at the Company’s royalty and stream properties;
decisions and activities of the Company’s management; unexpected operating costs; decisions and activities of the operators of the Company’s
royalty and stream properties; changes in operators’ mining and processing techniques or royalty calculation methodologies; unanticipated
grade, geological, metallurgical, environmental, processing or other problems at the properties; declining grades over the life of the Company’s
royalty and stream properties; inaccuracies in technical reports and reserve estimates; revisions by operators of reserves, resources,
mineralization or production estimates; changes in project parameters as plans of the operators are refined; the results of current or planned
exploration activities; discontinuance of exploration activities by operators seeking additional financing from the Company or third parties;
economic and market conditions; variations between operators’ production estimates and our estimates of net GEOs; operations on lands
subject to aboriginal rights; the ability of operators of development properties to finance construction to project completion and bring projects
into production and operate them in accordance with feasibility studies; challenges to the Company’s royalty interests, or title and other
defects in the Company’s royalty properties; errors or disputes in calculating royalty payments or stream deliveries, or payments or deliveries
not made in accordance with royalty or stream agreements; the liquidity and future financial needs of the Company; the impact of future
acquisitions and royalty and stream financing transactions; adverse changes in applicable laws and regulations; litigation; and risks associated
with conducting business in foreign countries, including application of foreign laws to contract and other disputes, environmental laws,
enforcement and uncertain political and economic environments. These risks and other factors are discussed in more detail in the Company’s
public filings with the Securities and Exchange Commission. Statements made herein are as of the date hereof and should not be relied upon as
of any subsequent date. The Company’s past performance is not necessarily indicative of its future performance. The Company disclaims any
obligation to update any forward‐looking statements.
July 5, 2016
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Peñasquito
3
Mount Milligan – Parent Company is
Thompson Creek Metals Company, Inc.
(TCM)
Located in British Columbia, Canada
First (lowest) quartile of worldwide
production costs1
21 year mine life (reserves only)2
5.7 Moz contained gold reserves
2,185 Mlbs contained copper
reserves
Thompson Creek 2016 volume
guidance of 55-65 Mlbs copper and
240-270 koz gold
Mount Milligan Overview
July 5, 2016
1 Based on Wood Mackenzie’s Q2 2016 global copper mine cost curve. C1 cash costs include direct cash costs associated with mining, processing and the realization of the
concentrate or marketable product, with an allowance for by-product credits. C1 cash costs also include general and administrative costs directly related to mine production.
2 Based on reserves as reported by the operator as of December 31, 2015. Production subject to risks outlined on slide 2.
$0.00
$1.00
$2.00
$3.00
$4.00
0% 25% 50% 75% 100%
2016EC1CashCost(US$/lb)
2016E Cumulative Copper Production, Mlbs (%)
Mount Milligan
US$0.25 - $0.70/lb Cu
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4
Royal Gold – Mount Milligan History
July 5, 2016
Royal Gold invested US$781m in three tranches (2010-2013) in exchange for a
streaming interest over the life of the mine
Existing stream agreement calls for Royal Gold to receive 52.25% of the payable gold in
exchange for payments of $435/oz over the life of the mine
Achieved commercial production in February 2014 and design capacity in December 2015
Through May 31, 2016, Mount Milligan has delivered 207 koz of gold to Royal Gold and
approximately US$156m in revenue net of stream payments
A World Class Gold – Copper Mine
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5
Royal Gold was a Catalyst
July 5, 2016
Thompson Creek Capital Structure
Debt, US$833m due from December 2017 to May 2019
Cash, US$139m as of March 31, 2016
Market Capitalization, ~US$100m
Mount Milligan Importance to Royal Gold
24% of GEO reserves
27% of net revenue for the first three quarters of fiscal 2016
Our Goals
Maintain value
Obtain strong operating and financial partner
Royal Gold was a Catalyst
Engaged with many companies regarding Mount Milligan
— Primary gold, primary base metal, private equity/investment-oriented firms
Royal Gold open to amend the gold stream to generate additional interest from gold
companies while maintaining value
Led to a robust process and support of Thompson Creek-Centerra deal
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Centerra and Thompson Creek entered into an Arrangement Agreement
Centerra to acquire Thompson Creek, all stakeholders addressed
Mount Milligan streaming agreement amended
— With combined gold-copper stream, Royal Gold maintains economic interest
equivalent to the current arrangement
Cash consideration for the secured and unsecured bondholders
Centerra equity consideration for the Thompson Creek shareholders
Closing conditional on Approvals:
Court approval of the Arrangement Agreement
Thompson Creek shareholder vote
Closing expected in fall 2016
6
Mount Milligan Free Market Solution
July 5, 2016
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Royal Gold’s Mount Milligan economic interest, investment protection maintained
NAV neutral to Royal Gold at consensus metal prices1, using differential discount rates2
Senior debt cap maintained
Leverage ratio covenant
Inter-creditor agreement survives
Centerra is a financially strong partner
Established, profitable and diverse asset base
Centerra enterprise value (EV) of US$936m and debt of just US$74m at March 31, 2016
Robust pro forma cash flows support leverage, maturity schedule and terms of debt
A seasoned operator with significant technical expertise
Centerra produced over 520 koz of gold in 2015 and over 10 Moz since 1997
Talented and focused operating team
Favorable value for all current and future stakeholders
7
Transaction Meets Royal Gold Goals
July 5, 2016
1 Using average of analyst estimates for gold and copper prices as of June 27, 2016
2 5% discount rate for gold, 7.5% for copper
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8
Mount Milligan Stream Details
July 5, 2016
Existing Stream:
52.25% of gold, payment of $435/oz of gold delivered
Amended Stream:
35% of gold, payment - $435/oz of gold delivered
18.75% of copper, payment – 15% of prevailing copper spot price per metric tonne
delivered
Amendment is value-neutral on a discounted cash flow basis
0
400,000
800,000
1,200,000
1,600,000
0
30,000
60,000
90,000
120,000
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038
Net Gold Equivalent Ounces1
Current (left) Amended (left) Current Cumulative (right) Amended Cumulative (right)
1 Pro-Forma net gold equivalent ounces calculated as Royal Gold’s estimated revenue from Mount Milligan less applicable stream payments, divided by consensus gold price as
of June 27, 2016. Production subject to risks outlined on slide 2.
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9
Favorable Metal Ratios
July 5, 2016
Source: Bloomberg market data as of 01-Jul-2016
Note: US$ basis
The current gold / copper price ratio is well above the historical average1 and
presents a buying opportunity
0 x
100 x
200 x
300 x
400 x
500 x
600 x
700 x
800 x
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Gold / Copper Ratio 20Y Ratio 10Y Ratio
602 x
386 x
374 x
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10
Gold Focused
Royal Gold expects 75% of estimated net revenue from gold1 on a pro-forma basis
July 5, 2016
1 Pro-Forma includes expected silver from Pueblo Viejo and effect of Mount Milligan copper stream. FY17 Net Revenue from gold is expected to be approximately 81%.
0%
25%
50%
75%
100%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 FY16
To Date
PF
FY18-22
Gold Silver Other
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Toronto-based, mid-tier gold producer
Successor to substantially all of the gold businesses of Cameco Corporation
IPO on TSX in 2004
Strong financial position
US$1.4b market capitalization
US$966m EV (US$502m cash and cash equivalents, US$74m debt)1
Dividends paid each year since 2010 (cumulative US$248m to date)
Low cost producer
Pro Forma 2016 gold production of approximately 700 koz at US$675-
$725/oz and all-in sustaining costs (AISC) of US$850-$925/oz2
11
Centerra Gold will be a Strong Operator
1 March 31, 2016, before giving effect to the contemplated Thompson Creek transaction
2 Net of the stream, on a by-product basis
Source: Centerra Gold public disclosure
July 5, 2016
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12
Stream economics maintained
Operationally and financially strong operator
Investment protection
Opportunistic purchase of copper component
Expect to continue to have 75% of net revenue from gold
Eliminates Mount Milligan interest market uncertainty
Favorable to current and future stakeholders
Royal Gold Supports Transaction
July 5, 2016