Royal Gold Quarterly Profit Up From Year Ago
Royal Gold,Inc. (Nasdaq: RGLD) reports net income of $26.7 million, or 41 cents per share,for its fiscal fourth quarter that ended June 30. Excluding special items,adjusted net income was $27.6 million, or 43 cents per share, up 39% from theprior-year quarter. The company reports a 3% year-on-year increase ingold-equivalent ounces to 89,000. For the fiscal year that ended June 30, RoyalGold lists a net loss of $113.1 million, or $1.73 per share. However, thisincludes the negative impact of U.S. tax reform legislation totaling 47 centsper share and several non-cash items -- including an impairment of $239.1million relating to the Pascua-Lama project -- totaling $3.03 per share, thecompany says. Excluding these items, adjusted net income was $115.1 million, or$1.76 per share, up 14% from the prior year. Royal Gold reports record yearlyrevenue of $459 million and record operating cash flow of $328.8 million.Record volume of 354,000 gold-equivalent ounces was up 1%.
By Allen Sykoraof Kitco News; asykora@kitco.com
FortunaReports Rise In Second-Quarter Profit
Thursday August 9, 2018 09:44
Fortuna Silver MinesInc. (NYSE: FSM; TSX: FVI) reports a second-quarter profit helped byhigher sales and lower mine operating costs. Net income was $11.2 million, or 7 cents per share, compared to $8.9million, or 6 cents, for the comparable quarter in 2017. Adjusted net income increased to $10million from $9.2 million. The company had pre-reported silver and gold production of 2.3 million and 14,557 ounces,respectively. The silver output was a year-on-year gain of 10%, while the goldproduction was in line with the year-ago period. All-in sustaining costs fellto $10 per silver-equivalent ounce from $12.10 a year ago.
By Allen Sykoraof Kitco News; asykora@kitco.com
Franco NevadaSecond-Quarter Profit Rises
Thursday August 9, 2018 08:18
Royalty andstreaming company Franco Nevada (TSX, NYSE: FNV) reports a second-quarter netprofit of $53.6 million, or 29 cents per share, up from $45.6 million in thesame quarter a year ago. The adjusted profit was nearly the same -- $53.6million, or 29 cents a share, up from $46.1 million, or 25 cents. The companyreports 107,333 gold-equivalent ounces were sold. The company revised upward its 2018 guidancefor revenue from energy assets to a range of $65 million to $75 million,compared to $50 million to $60 million previously. However, Franco Nevadarevised down its guidance for gold-equivalent ounces to a range of 440,000 to470,000, compared to 460,000 to 490,000 previously. The board of directorsdeclared a quarterly dividend of 24 cents per share to be paid on Sept. 27 toshareholders of record on Sept. 13.
By Allen Sykoraof Kitco News; asykora@kitco.com
Torex Lists 2QAdjusted Profit After Blockade Ends
Thursday August 9, 2018 08:18
Torex Gold Resources Inc.(TSX:TXG) lists an adjusted profit for the secondquarter after a blockade ended and full access to the ELG Mine Complex wasrestored. The company lists adjusted net earnings of $10.6 million, or 13 cents per share. The netloss, after current and deferred income-tax expense, totaled $12.3 million or14 cents. The company produced 78,796 ounces in gold dore andan additional 1,300 ounces in carbon fines. “Having successfully emerged from the blockade, we are pleased toannounce solid second-quarter results, from near-record level gold production,”says Fred Stanford, president and chief executive officer.
By Allen SykoraFor Kitco News
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