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darius

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Tuesday, February 24th 2004, 10:54am

Royal Gold Inc. WKN 885 652 ISIN US7802871084 RGLD

Royal Gold (WKN: 885652, USA: RGLD)

Wer ein Papier sucht, in dem er über einen Hebel das Auf und Ab des Goldpreises spielen kann, der ist bei Royal Gold gut bedient. Das Unternehmen kauft Lizenzrechte an Goldminen und kassiert im Verhältnis zum Goldpreis. Stanley Dempsey, CEO von Royal Gold, hat gut lachen. Nach jahrelangem Kampf gegen einen immer weiter fallenden Goldpreis hat es sein Geschäftsmodell auf einen niedrigen Goldpreis ausgerichtet, mit wenig Abhängigkeiten. Seit der Goldpreis steigt, profitiert sein Unternehmen überproportional.

Royal Gold kümmert sich nicht um den arbeitsintensiven Goldabbau selbst. Sein Unternehmen beschäftigt sich auch nicht mit dem zeitintensiven und oftmals erfolglosen Suchen nach neuen Goldvorkommen. Royal Gold kauft sich in Goldminen ein und kassiert in Abhängigkeit vom Umsatz der Goldminen Lizenzgebühren. Weiterhin beteiligt sich Royal Gold auch an der Erschließung von neuen Goldvorkommen, sofern sie einmal entdeckt sind.

Das Unternehmen hat seinen Sitz in Denver und hält Anteile an Goldminen von Placer Dome, Rio Tinto und Newmont Mining. Bei fallendem Goldpreis brechen die Umsätze von Royal Gold umgehend ein. So fiel der Umsatz von 1997 auf 1998 aufgrund des historisch tiefen Goldpreises von $8,9 Mio. auf $1,4 Mio. Gefährdet war dadurch das Unternehmen jedoch nicht. Mit nur 10 Mitarbeitern sind die Fixkosten sehr gering.

Bei steigendem Goldpreis explodiert dann natürlich der Umsatz. Nach unternehmenseigenen Angaben führt ein Goldpreisanstieg von 17% zu einem Umsatzanstieg bei Royal Gold von 76%. Goldene Zeiten also für Royal Gold.

So schön das Geschäftsmodell auch aussehen mag, so hoch ist es auch schon bewertet. Der Kurs sprang bereits innerhalb der vergangenen zwei Jahre von $2,5 auf nunmehr $17 (entspricht 680% in nur zwei Jahren !). Zwischen-zeitlich war der Aktienkurs sogar auf $28 angestiegen.

Royal Gold ist schuldenfrei. Die $13 Mio. Jahresumsatz können zu 88% als Gewinn verbucht werden. Somit ergibt sich trotz eines exorbitant hohen KUVs nur ein KGV von 47.

1991 konnten Sie die Aktien noch zu 6 Cents das Stück erwerben. Das Geschäftsmodell hat also offensichtlich bereits zu Zeiten funktioniert, als der Goldpreis noch rückläufig war. Stanley Dempsey behauptet, das Unternehmen könne selbst ein einem Goldpreis von $210 noch existieren. Aber da dürfte der Kurs dann auch wieder an seinen Ursprungsort zurückgekehrt sein.

Bei einem Kursanstieg von 680% in den letzten 24 Monaten kann dieses Papier als riskant bezeichnet werden. Der Kurs kann jederzeit wie ein Fallbeil in den Keller zurück rutschen. Allerdings kann man davon ausgehen, dass die Aktie wieder vorne bei den Gewinnern dabei ist, sobald der Goldpreis seine Korrektur beendet hat.

Noch ein Zusammenhang kommt dieser Aktie zugute: Goldpreis und Goldminenaktien bewegen sich im Tandem. Zunächst steigt der Goldpreis, es folgen die Preise der Goldminenaktien. Anfang der 80er betrug das Timelag (die zeitliche Verzögerung) zwischen Goldpreis und Goldminenaktien rund 8 Monate. Demzufolge sollten Aktein auch heute noch ein paar Monate lang weiter steigen, selbst wenn der Goldpreis bereits den Rückwärtsgang eingelegt hat.

www.goldtrend.de

darius

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Wednesday, February 25th 2004, 4:58pm

Analyse: Royal Gold

Royal Gold (WKN: 885652, USA: RGLD)

Wer ein Papier sucht, in dem er über einen Hebel das Auf und Ab des Goldpreises spielen kann, der ist bei Royal Gold gut bedient. Das Unternehmen kauft Lizenzrechte an Goldminen und kassiert im Verhältnis zum Goldpreis. Stanley Dempsey, CEO von Royal Gold, hat gut lachen. Nach jahrelangem Kampf gegen einen immer weiter fallenden Goldpreis hat es sein Geschäftsmodell auf einen niedrigen Goldpreis ausgerichtet, mit wenig Abhängigkeiten. Seit der Goldpreis steigt, profitiert sein Unternehmen überproportional.

Royal Gold kümmert sich nicht um den arbeitsintensiven Goldabbau selbst. Sein Unternehmen beschäftigt sich auch nicht mit dem zeitintensiven und oftmals erfolglosen Suchen nach neuen Goldvorkommen. Royal Gold kauft sich in Goldminen ein und kassiert in Abhängigkeit vom Umsatz der Goldminen Lizenzgebühren. Weiterhin beteiligt sich Royal Gold auch an der Erschließung von neuen Goldvorkommen, sofern sie einmal entdeckt sind.

Das Unternehmen hat seinen Sitz in Denver und hält Anteile an Goldminen von Placer Dome, Rio Tinto und Newmont Mining. Bei fallendem Goldpreis brechen die Umsätze von Royal Gold umgehend ein. So fiel der Umsatz von 1997 auf 1998 aufgrund des historisch tiefen Goldpreises von $8,9 Mio. auf $1,4 Mio. Gefährdet war dadurch das Unternehmen jedoch nicht. Mit nur 10 Mitarbeitern sind die Fixkosten sehr gering.

Bei steigendem Goldpreis explodiert dann natürlich der Umsatz. Nach unternehmenseigenen Angaben führt ein Goldpreisanstieg von 17% zu einem Umsatzanstieg bei Royal Gold von 76%. Goldene Zeiten also für Royal Gold.

So schön das Geschäftsmodell auch aussehen mag, so hoch ist es auch schon bewertet. Der Kurs sprang bereits innerhalb der vergangenen zwei Jahre von $2,5 auf nunmehr $17 (entspricht 680% in nur zwei Jahren !). Zwischen-zeitlich war der Aktienkurs sogar auf $28 angestiegen.

Royal Gold ist schuldenfrei. Die $13 Mio. Jahresumsatz können zu 88% als Gewinn verbucht werden. Somit ergibt sich trotz eines exorbitant hohen KUVs nur ein KGV von 47.

1991 konnten Sie die Aktien noch zu 6 Cents das Stück erwerben. Das Geschäftsmodell hat also offensichtlich bereits zu Zeiten funktioniert, als der Goldpreis noch rückläufig war. Stanley Dempsey behauptet, das Unternehmen könne selbst ein einem Goldpreis von $210 noch existieren. Aber da dürfte der Kurs dann auch wieder an seinen Ursprungsort zurückgekehrt sein.

Bei einem Kursanstieg von 680% in den letzten 24 Monaten kann dieses Papier als riskant bezeichnet werden. Der Kurs kann jederzeit wie ein Fallbeil in den Keller zurück rutschen. Allerdings kann man davon ausgehen, dass die Aktie wieder vorne bei den Gewinnern dabei ist, sobald der Goldpreis seine Korrektur beendet hat.

Noch ein Zusammenhang kommt dieser Aktie zugute: Goldpreis und Goldminenaktien bewegen sich im Tandem. Zunächst steigt der Goldpreis, es folgen die Preise der Goldminenaktien. Anfang der 80er betrug das Timelag (die zeitliche Verzögerung) zwischen Goldpreis und Goldminenaktien rund 8 Monate. Demzufolge sollten Aktein auch heute noch ein paar Monate lang weiter steigen, selbst wenn der Goldpreis bereits den Rückwärtsgang eingelegt hat.

www.goldtrend.de

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Saturday, January 6th 2007, 10:38am

Reminder - Webcast Alert: Royal Gold, Inc. Announces Penasquito Royalty Acquisition

DENVER, Jan 03, 2007 /PRNewswire-FirstCall via COMTEX/ -- Royal Gold, Inc. (RGLD) announces the following Webcast:

What: Royal Gold, Inc.'s Penasquito Royalty Acquisition

When: January 3, 2007 @ 12:00 p.m. Eastern

Where: http://www.videonewswire.com/event.asp?id=37173

How: Live over the Internet -- Simply log on to the web at the
address above.

If you are unable to participate during the live webcast, the call will be archived at http://www.videonewswire.com/event.asp?id=37173.

SOURCE Royal Gold, Inc.

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Saturday, January 20th 2007, 10:18am

Royal Gold Acquires Royalty on Barrick Gold Corporation's Pascua Lama Gold Project

DENVER, Jan 17, 2007 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD) (CA:RGL) today announced that it has entered into a definitive and binding agreement to purchase a net smelter return ("NSR") sliding-scale royalty for $20.5 million on the Pascua Lama project. Pascua Lama is owned by Barrick Gold Corporation ("Barrick") and is located on the border between Argentina and Chile. The NSR royalty, ranging from 0.16% to 1.08% depending on the average price of gold during the quarter, is applicable to all gold production from an area of interest in Chile. The transaction also includes a 0.216% fixed-rate copper royalty. The copper royalty applies to 100% of the copper reserves but does not take effect until after January 1, 2017. The acquisition is subject to customary due diligence and is expected to close in early March 2007.
Tony Jensen, Royal Gold's President and Chief Executive Officer, commented, "We are pleased to add the Pascua Lama royalty to our diverse and rapidly growing portfolio. This royalty provides Royal Gold with exposure to another long life, world-class deposit, and a presence in the prolific mineral potential of the Frontera District of Chile."
According to the Barrick's publicly available reserve and resource statement of December 31, 2005, Pascua Lama's proven and probable reserves include 397 million tons of ore (360 million tonnes), at a grade of 0.046 ounces per ton (1.58 grams per tonne), containing about 18.0 million ounces of gold. Approximately 80% of the reserves are located in Chile.
Barrick is targeting production in calendar 2010, subject to the receipt of certain permits. According to the technical report prepared by Barrick dated March 30, 2005 (available at www.sedar.com), production from the mine will average 750,000 to 775,000 ounces of gold over the first decade of production, at a cash cost range of $130 to $140 per ounce.
The NSR sliding-scale royalty ranges from 0.16% when the average quarterly gold price is at or below $325 per ounce, to a maximum of 1.08% when the average quarterly gold price equals or exceeds $800 per ounce, as shown below. When the average quarterly realized gold price is between any two price ranges, the royalty rate is proportional to the change in the gold price.

Royalty Schedule - Pascua Lama Royalty
Gold Price Range NSR Royalty Rate
(per ounce)
< / = $325 0.16%
$350 0.22%
$375 0.27%
$400 0.32%
$500 0.56%
$600 0.73%
$700 0.91%
> / = $800 1.08%

Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metal royalty interests. Royal Gold is publicly-traded on the NASDAQ Global Select Market under the symbol "RGLD," and on the Toronto Stock Exchange under the symbol "RGL." The Company's web page is located at www.royalgold.com.

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Saturday, January 20th 2007, 10:19am

Royal Gold Announces Fiscal 2007 Second Quarter Conference Call

DENVER, Jan 18, 2007 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD) (CA:RGL) , the leading precious metals royalty company, will report its second quarter fiscal 2007 results before the market opens for trading on Thursday, February 1, 2007. There will be a conference call that day at Noon Eastern Time (10:00 a.m. Mountain Time) which will be accessible via live internet broadcast and dial-in conference capabilities.

Dial-In Numbers: 800-603-2779 (U.S. and Canada)
706-634-7230 (International)
Internet Broadcast: www.royalgold.com under Investor Relations,
Presentations

Tony Jensen, President and Chief Executive Officer, will host the conference call. There will be a question and answer period at the end of the call. Please log on or call in at least five minutes prior to the conference call start time. In addition, the call will be archived on the Company's web site.
A replay of the call will be available through February 8, 2007. The replay dial-in numbers are 800-642-1687 (U.S. and Canada) or 706-645-9291 (International), and the access code is 6143133.
Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metals royalty interests. Royal Gold is publicly traded on the NASDAQ Global Select Market under the symbol "RGLD" and on the Toronto Stock Exchange under the symbol "RGL." The Company's web page is located at www.royalgold.com.
SOURCE Royal Gold, Inc.
Karen Gross, Vice President & Corporate Secretary of Royal Gold, Inc., +1-303-573-1660 http://www.royalgold.com

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Saturday, January 27th 2007, 8:08am

Royal Gold Appoints Kirchhoff as General Counsel

DENVER, Jan 22, 2007 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD: Royal Gold Inc) (CA:RGL) , the leading precious metals royalty company, today announced that Bruce Kirchhoff will join the Company as General Counsel effective February 1, 2007. In this position, Mr. Kirchhoff will have primary legal responsibility for the preparation of royalty acquisition and royalty financing documents, and will work closely with the Business Development team in negotiating and structuring royalty transactions. He is replacing the Company's former Vice President and General Counsel, Randy Parcel, who will retire after practicing mining law for nearly 35 years.
Tony Jensen, President and Chief Executive Officer, said, "We are very pleased that Bruce is joining the Royal Gold team. He has comprehensive knowledge of business, commercial and corporate matters, as well as expertise in the field of mining law with an emphasis on mining transactions. As we continue to grow our portfolio of domestic and international royalties, Bruce will play a key role in shaping future royalty acquisitions and financing transactions."
He added, "We would also like to thank Randy for his service at Royal Gold and congratulate him on his 35 years of practicing natural resources law. Royal Gold and the mineral industry will miss his sage counsel and practical advice. We wish Randy the best in his retirement."
Mr. Kirchhoff most recently served as a partner with Carver, Kirchhoff, Schwarz, McNab & Bailey, LLC ("CKSMB"), a Denver-based law firm specializing in mining, oil and gas, energy development, environmental regulation, water rights, natural resource transactions, and commercial litigation. Prior to his position with CKSMB, he was a member of the Cyprus Amax Minerals Company law department for nearly ten years, where he was the senior attorney responsible for the copper and molybdenum business unit. Previous to his involvement with the copper and molybdenum business unit, he had legal responsibilities for Cyprus Amax' lithium and industrial minerals business units.
At CKSMB, Mr. Kirchhoff represented hardrock and industrial minerals clients in a broad range of business, commercial and corporate matters affecting international natural resource companies, as well as mineral exploration and development companies in all phases of mineral exploration and development.
Mr. Kirchhoff has been an Adjunct Lecturer in Law at the University of Denver Sturm College of Law, where he taught international mining law and policy in the International Natural Resources and Environmental Law Graduate Studies Program.
Mr. Kirchhoff received his undergraduate degree from Colorado College, his law degree from the University of Denver, and his Masters in Mineral Economics from the Colorado School of Mines. He is a member of the Denver, Colorado and American Bar Associations.
Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metal royalty interests. Royal Gold is publicly traded on the NASDAQ Global Select Market under the symbol "RGLD," and on the Toronto Stock Exchange under the symbol "RGL." The Company's web page is located at www.royalgold.com.
SOURCE Royal Gold, Inc.

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Saturday, January 27th 2007, 8:09am

Royal Gold Closes Penasquito Royalty Transaction

DENVER, Jan 24, 2007 /PRNewswire-FirstCall via COMTEX/ -- Royal Gold, Inc. (RGLD: Royal Gold Inc) today announced that is has closed its transaction with Minera Kennecott S.A. De C.V. to acquire a 2.0% net smelter return ("NSR") royalty on the Penasquito project in Zacatecas, Mexico, as previously announced on December 29, 2006. The cost of the acquisition was $80 million in cash and 577,434 shares of Royal Gold common stock. Royal Gold also obtained the right to acquire additional NSR royalties ranging from 1.0% to 2.0% on a number of properties in the region.
The Penasquito project, composed of two main deposits called Penasco and Chile Colorado, is under development by Goldcorp Inc. ("Goldcorp"). The Penasquito project hosts one of the world's largest silver, gold and zinc reserves, while also containing large lead reserves.
Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metal royalty interests. Royal Gold is publicly traded on the Nasdaq Global Select Market under the symbol "RGLD," and on the Toronto Stock Exchange under the symbol "RGL." The Company's web page is located at www.royalgold.com.
SOURCE Royal Gold, Inc.

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Saturday, February 3rd 2007, 8:05am

Royal Gold Inc. 2Q EPS 24c Vs 12c>RGLD

Royal Gold Inc. 2Q EPS 24c Vs 12c>RGLD

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Saturday, February 3rd 2007, 8:09am

Royal Gold Reports Record Revenue, Net Income and Free Cash Flow in Second Quarter Of Fiscal 2007

Revenue increases 62% on quarter-over-quarter basis * Net income increases 100% on per share basis * Record free cash flow (a non-GAAP financial measure) totals 84% of revenue * Acquisition of royalties on Penasquito and Pascua Lama projects further diversifies portfolio

DENVER, Feb 01, 2007 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD:Royal Gold Inc) (CA:RGL) , the leading publicly-traded precious metals royalty company, today announced fiscal second quarter 2007 net income of $5.6 million, or $0.24 per basic share, on royalty revenue of $12.3 million. This compares to net income for the second quarter of fiscal 2006 of $2.9 million, or $0.12 per basic share, on royalty revenue of $7.6 million. Higher revenues were largely derived from increased production at several royalty properties, contributions from two new producing royalty positions, and higher metal prices.
Net income for the six-month period ended December 31, 2006, was $10.6 million, or $0.45 per basic share, on royalty revenue of $22.0 million. This compares to net income of $6.0 million, or $0.27 per basic share, for the six-month period ended December 31, 2005, on royalty revenue of $14.4 million.
Free cash flow for the quarter was approximately $10.3 million, making up a record 84% of revenues. This compares to free cash flow for the second quarter of fiscal 2006 of approximately $5.4 million or 71% of revenues. For the six-month period ended December 31, 2006, free cash flow was approximately $18.3 million, or 83% of revenues, compared with free cash flow for the same period ended December 31, 2005, of $10.5 million, or 73% of revenues. The Company defines free cash flow, a non-GAAP financial measure, as operating income plus depreciation, depletion and amortization, non-cash charges and any impairment of mining assets (see, Schedule A- Reconciliation).
As of December 31, 2006, the Company had a working capital surplus of $74.4 million. Current assets were $80.1 million (including $70.9 million in cash) compared to current liabilities of $5.7 million resulting in a current ratio of 14 to 1.
In addition, the Company expanded its royalty portfolio with the acquisition of a royalty on the Penasquito project in Mexico. The acquisition closed in January 2007. Furthermore, in January 2007, the Company announced an agreement to acquire a sliding-scale royalty on the Pascua Lama project in South America. Both of these projects are development-stage properties. The Company also closed its royalty acquisition on the Gold Hill deposit in Nye County, Nevada, in December 2006.
Tony Jensen, President and CEO, stated "It is gratifying to report these record financial results which reflect the maturity of several prior investments that will help fuel our long-term growth. We have had tremendous business development successes during the quarter with the Penasquito and Pascua Lama transactions. We will continue to work diligently towards strengthening our revenue stream and diversifying our portfolio."

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Saturday, March 31st 2007, 8:05am

Royal Gold Announces Common Stock Offering

DENVER, March 27, 2007 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD: Royal Gold Inc) (CA:RGL) announced today that it intends to offer 4,000,000 shares of its common stock under Royal Gold's existing effective shelf registration statement filed on Form S-3. Royal Gold also intends to grant the underwriters a 30-day option to purchase up to 600,000 additional shares of common stock to cover over-allotments, if any. The pricing of the offering is anticipated to occur during the week of April 2, 2007.
Royal Gold currently intends to use the net proceeds from the offering to repay funds drawn under its line of credit, to fund future acquisitions and for general corporate purposes.
HSBC Securities (USA) Inc. is the global coordinator acting as joint book-runner with Merrill Lynch, Pierce, Fenner & Smith Incorporated. UBS, J.P. Morgan and National Bank Financial are acting as co-managers.
This offering may be made only by means of a prospectus supplement and related prospectus. A copy of the preliminary prospectus supplement, together with the prospectus, will be filed with the U.S. Securities and Exchange Commission ("SEC") and will be available on the SEC's website, www.sec.gov. Once filed, copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained by contacting:

HSBC Securities (USA) Inc.
Attn: Equity Syndicate
452 Fifth Avenue
New York, NY 10018

Merrill Lynch, Pierce, Fenner & Smith Incorporated
Attn: Prospectus Dep't
4 World Financial Center
New York, NY 10080



This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Royal Gold is the largest precious metals royalty company engaging in the acquisition and management of precious metal royalty interests. Royal Gold is publicly traded on the NASDAQ Global Select Market under the symbol "RGLD," and on the Toronto Stock Exchange under the symbol "RGL." Royal Gold's web page is located at www.royalgold.com.

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Friday, April 6th 2007, 9:01am

Royal Gold Announces Pricing of Public Offering of Common Stock

DENVER, April 3, 2007 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD: Royal Gold Inc) (CA:RGL) announced today the pricing of an underwritten public offering of 4,000,000 shares of its common stock pursuant to the Company's existing effective shelf registration statement filed on Form S-3. The offering was priced at $29.25 per share, and proceeds to the Company from the offering, net of commission and expenses, are expected to be approximately $110.9 million.
HSBC Securities (USA) Inc. was the sole global coordinator for the offering and acted as joint book runner with Merrill Lynch, Pierce, Fenner & Smith Incorporated. JP Morgan, National Bank Financial, and UBS Investment Bank acted as co-managers. The Company has granted the underwriters an option to purchase up to 600,000 additional shares to cover over-allotments in the offering.
The net proceeds of this offering are intended to repay the outstanding balance under the Company's revolving credit facility with HSBC Bank USA, National Association, to fund the acquisition and financing of additional royalty interests and for general corporate purposes.
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. A final prospectus supplement and related prospectus relating to the offering may be obtained from HSBC Securities (USA) Inc., 452 Fifth Avenue, New York, NY 10018, Attn: Equity Syndicate Desk, and from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, New York, New York 10080, Attn: Prospectus Department.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.
Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metal royalty interests. Royal Gold is publicly traded on the NASDAQ Global Select Market under the symbol "RGLD," and on the Toronto Stock Exchange under the symbol "RGL." The Company's web page is located at www.royalgold.com.

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Saturday, April 21st 2007, 10:05am

DJ Royal Gold To Acquire Battle Mountain Gold >RGLD

"Royal Gold Inc. (RGLD) signed a definitive agreement to acquire Battle Mountain Gold Explorations Corp. (BMGX), a Reno, Nev., precious metals royalty company, in an all-stock transaction.
Battle Mountain's compensation depends on the average trading price of Royal Gold's stock preceding the closing. The compensation ranges from 1,634,410 Royal Gold shares if the stock price is at $29 or below, to 1,570,507 shares if the stock price is at $30.18 or above, with a proportional adjustment to be made between the two prices.
On a per-share basis, Battle Mountain shareholders will receive between 0.0172 and 0.0179 shares of Royal Gold stock, which is subject to a potential holdback of about 50,000 Royal Gold shares, or about 0.0006 shares on a per share basis.
The deal represents about 39.9% of Battle Mountain's outstanding shares."

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Saturday, April 21st 2007, 10:07am

Royal Gold and Battle Mountain Gold Exploration Sign Definitive Merger Agreement

" DENVER, April 18, 2007 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD: Royal Gold Inc)) (CA:RGL) ("Royal Gold") and Battle Mountain Gold Exploration Corp. (BMGX: battle mtn gold expl corp com) ("Battle Mountain") announced today that they have signed a definitive merger agreement under which Royal Gold will acquire 100% of the fully diluted shares of Battle Mountain in an all-stock merger transaction. The merger agreement was unanimously approved by both companies' boards of directors. This transaction was initially discussed in Royal Gold's March 5, 2007, press release.
The consideration payable to Battle Mountain shareholders will depend on the average trading price of Royal Gold's common stock preceding the closing, and ranges from 1,634,410 Royal Gold shares, if the Company's stock price is at $29.00 or below, to 1,570,507 Royal Gold shares, if the Company's stock price is at $30.18 or above. A proportional adjustment will be made between these two trading prices. On a per share basis, Royal Gold will pay Battle Mountain shareholders between 0.0172 and 0.0179 shares of Royal Gold's common stock. This consideration is also subject to a potential holdback of approximately 50,000 Royal Gold shares, or approximately 0.0006 Royal Gold shares on a per share basis, for contingent liabilities.
Royal Gold has obtained agreements from Mark Kucher, Chairman of Battle Mountain, and IAMGOLD Corporation providing that each will vote its respective shares in favor of the merger transaction. These agreements represent approximately 39.9% of the outstanding shares of Battle Mountain.
The closing of this transaction is subject to Battle Mountain shareholder approval, satisfactory completion of due diligence, receipt of any regulatory approvals, and satisfaction of customary conditions.
Battle Mountain is a precious metals royalty company with a portfolio consisting of royalties on 12 properties located mainly in the Americas. Their principal assets include a 3.25% net smelter return ("NSR") royalty on gold production and a 2.0% NSR royalty on silver production from the Dolores project in Mexico, which is under development by Minefinders Corporation Ltd. Battle Mountain has disclosed that their royalty properties contain approximately 4.8 million ounces of gold reserves and 136 million ounces of silver reserves.
Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metal royalty interests. Royal Gold is publicly-traded on the NASDAQ Global Select Market under the symbol "RGLD," and on the Toronto Stock Exchange under the symbol "RGL." The Company's web page is located at www.royalgold.com.

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Saturday, April 21st 2007, 10:08am

Royal Gold to Present at the European Gold Forum

" DENVER, April 16, 2007 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD: Royal Gold Inc) (CA:RGL) , the leading publicly-traded precious metals royalty company, announced today that its corporate presentation will be webcast from the European Gold Forum in Zurich, Switzerland. Tony Jensen, President and Chief Executive Officer, will provide an overview of the Company on April 19, 2007, at 10:35 a.m. Central European Summer Time (4:35 a.m. Eastern time/2:35 a.m. Mountain time).
This webcast may be accessed through the Company's web site at www.royalgold.com under the Investor Relations/Presentation section.
Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metals royalty interests. Royal Gold is publicly traded on the NASDAQ Global Select Market, under the symbol "RGLD," and on the Toronto Stock Exchange, under the symbol "RGL." The Company's web site is located at www.royalgold.com.
SOURCE Royal Gold, Inc."

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Saturday, May 26th 2007, 9:53am

Upbeat Forecast Lifts Silver

In the precious metals patch, HSBC was busy changing ratings on a slew of miners, due mainly to recent stock price movements. Agnico-Eagle Mines (AEM), AngloGold Ashanti (AU) and Royal Gold (RGLD) were all upgraded to overweight from neutral.