| Royal Gold (RGLD) Issues Update on Mt. Milligan Mine - Analyst Blog | |
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Royal Gold, Inc. RGLD announced that its fully-owned subsidiary – RGLD Gold AG —has received around 26,200 ounces of gold from the Mt. Milligan mine for the quarter ended Mar 31, 2015, as part of its purchase and sale deal with Thompson Creek Metals Company, Inc.
For the quarter, Royal Gold sold about 24,200 ounces of gold from Thompson Creek, an increase of about 70% from the sequentially prior quarter. Further, Royal Gold had about 6,800 ounces remaining in inventory as of Mar 31, 2015. The company sells a major part of the delivered gold within three weeks of receiving the metal and recognizes revenues on its streaming transactions once the metal is sold.
As of Mar 31, 2015, Royal Gold had one provisionally priced final shipment outstanding, which was the 75% balance on shipment 12. That balance of about 5,000 ounces was not received as of Mar 31, and was excluded from the inventory. Henceforth, all deliveries to Royal Gold will be based solely on final settlement timing and volumes, subject to Thompson Creek’s smelter contracts, which can take 3-5 months after concentrate is produced at the mine. Royal Gold, together with its subsidiaries, is engaged in acquiring and managing precious metals, royalties and similar interests. By partnering with capable operators, the company focuses on building and managing a diversified, cash-flowing portfolio of precious metal assets. Royal Gold’s shares rose roughly 0.7% to close at $62.32 last Friday. The stock currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the mining space include Pretium Resources Inc. PVG, Asanko Gold Inc. AKG and Newmont Mining Corp. NEM. While Pretium Resources sports a Zacks Rank #1 (Strong Buy), Asanko Gold and Newmont Mining carry a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ROYAL GOLD INC (RGLD): Free Stock Analysis Report PRETIUM RES INC (PVG): Free Stock Analysis Report NEWMONT MINING (NEM): Free Stock Analysis Report ASANKO GOLD INC (AKG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Asanko Gold Inc.
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CODE : AKG.TO |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Asanko Gold is a exploration company based in Canada. Asanko Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 325.5 millions as of today (US$ 231.0 millions, € 211.7 millions). Its stock quote reached its highest recent level on September 16, 2011 at CA$ 9.59, and its lowest recent point on December 15, 2017 at CA$ 0.55. Asanko Gold has 203 450 000 shares outstanding. |