Other Principal Properties2014 Interactive Annual Report

Holt

HOLT (Ontario, Canada)

FY2014 Revenue: $13.8M | FY2014 Production:1 63,100 oz gold Reserves:2 0.5M oz gold

Royal Gold holds a sliding-scale NSR royalty derived by multiplying 0.00013 by the quarterly average gold price on the Holt mine operated by St Andrew Goldfields Ltd (“St Andrew”).

Production Status: Reported production at Holt increased 12% compared to the prior fiscal year which St Andrew credited to additional mine infrastructure and mine development.

 

Mulatos

MULATOS (Sonora, Mexico)

FY2014 Revenue: $9.4M | FY2014 Production:1, 3 149,800 oz gold Reserves:2 1.1M oz gold

Royal Gold holds a 1.0%-5.0% sliding-scale NSR royalty on the Mulatos open-pit mine and heap leach operation, operated by subsidiary of Alamos Gold, Inc. (“Alamos”).

Production Status: Production at Mulatos decreased approximately 31% compared to the prior fiscal year, primarily attributable to lower than expected grades from the Escondida deposit.

 

Cortez Pipline Complex

CORTEZ - PIPELINE COMPLEX (Nevada, United States)

FY2014 Revenue: $8.1M | FY2014 Production: 1 95,400 oz gold Reserves:2 9.9M oz gold

Royal Gold holds the following royalties at the Cortez open-pit, operated by Barrick: sliding-scale 0.40% to 5.0% GSR1 and GSR2; 0.7125% GSR3; and 1.014% NVR14. In FY2014 Royal Gold increased its ownership interest in the NVR1 royalty.

Production Status: Production at Cortez increased approximately 16% compared to the prior fiscal year, as surface mining activity at the Pipeline and Gap pits increased during the current period.

 

Robinson

ROBINSON (Nevada, United States)

FY2014 Revenue: $6.4M | FY2014 Production:1 27,600 oz gold; 69.6M lbs copper Reserves:2 0.8M oz gold; 1.3B lbs copper

Royal Gold owns a 3.0% NSR royalty on all mineral production from the Robinson open-pit mine, operated by KGHM International Ltd. (“KGHM”).

Production Status: Copper production at Robinson decreased approximately 52% and gold production decreased approximately 44% compared to the prior fiscal year, due to the planned mine sequence moving to the lower grade Kimbley pit during the second half of fiscal 2014.

 

 

  1. Reported production relates to the amount of metal sales that are subject to our royalty interests for the fiscal year ended June 30, 2014, as reported to us by the operators of the mines.
  2. Reserves as of December 31, 2013 – Holt, Mulatos and Cortez; and December 31, 2011 – Robinson.
  3. The royalty is capped at 2.0 million ounces of production. As of June 30, 2014, approximately 1.27 million cumulative ounces of gold have been produced.
  4. Royalty rate for the Crossroads portion of NVR1 is 0.618%.

 

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