Royal Gold says subsidiary sold 60,000 gold oz, 323,000 silver oz in Q1
Royal Gold announced that its wholly owned subsidiary RGLD Gold AG sold approximately 60,000 gold ounces and 323,000 silver ounces related to its streaming agreements during its fiscal 2017 first quarter. The company had 24,000 gold ounces and 544,000 silver ounces in inventory at September 30. Stream segment sales and inventory increased for both gold and silver as compared to the prior quarter. RGLD Gold AG's average realized gold and silver prices were $1,329 and $19.52 per ounce sold, respectively, compared to $1,257 and $16.36 per ounce sold in the prior quarter. Cost of sales was approximately $352 per gold equivalent ounce for the first quarter using the quarterly average silver-gold ratio of approximately 68 to 1, compared to $344 per gold equivalent ounce in the prior quarter. Royal Gold's first quarter results will be released before the market opens for trading on Thursday, November 3.