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ROYAL GOLD ANNOUNCES FISCAL 1992 YEAR END RESULTS AND STATUS OF OPERATIONS

 DENVER, Oct. 5 /PRNewswire/ -- Royal Gold Inc. (NASDAQ Small-Cap Market: RGLD) today reported audited year end results for fiscal year 1993. The company reported a loss from continuing operations of $618,000 or 6 cents per share for the fiscal year ended June 30, 1993, as compared to a net loss of $638,000 or 7 cents per share in fiscal 1992. The net loss for fiscal 1993 results mainly from ongoing administration expenses.
 Total revenues for the current period were $178,000, as compared with $83,000 in the previous fiscal year. These revenues were comprised of $150,000 in advance minimum royalty income from the South Pipeline project, and $28,000 of billings from the company's consulting services subsidiaries. The decline in billings from the company's subsidiaries stemmed from management's concentration on monitoring its South Pipeline project.
 Exploration costs were $57,000 in fiscal 1993 as compared to $86,000 in fiscal 1992. General and administrative costs for fiscal 1993 and 1992 were $765,000 and $725,000, respectively.
 Status of Operations
 The company continues to receive very good results from its South Pipeline project. The South Pipeline Project involves an approximately 4,000 acre mining claim position in the Cortez district, located in the Crescent Valley, Lander County, Nev. It is approximately one-half mile south of the Pipeline discovery announced earlier by Placer Dome U.S. Inc. ("PDUS"). Royal Gold holds a 20 percent net profits interest in the South Pipeline Project. PDUS, the operator of the project, has up to 11 drill rigs at work and is working to convert some or all of the present 3.3 million ounce resource into a proven and probable reserve by the end of this year.
 Stanley Dempsey, chairman of the company, stated that "the South Pipeline royalty interest is the company's most significant gold property interest. Management is encouraged that the South Pipeline Project will be developed and that the company's royalty interest in the project will generate significant revenue in the future. The company has adequate cash to maintain its active exploration effort until such royalties are received."
 The company continues to aggressively pursue direct acquisition of quality properties and royalties. In July 1993, Royal Gold announced it had acquired the rights to explore, develop and mine a 2,500 acre claim block located in the Crescent Valley, Lander County. These claims are approximately four miles south of the Pipeline and South Pipeline deposits.
 Commenting on the company's increased exploration activities, Thomas A. Loucks, executive vice president of Royal Gold, noted that "the company has acquired four additional gold properties located in Elko, White Pine and Eureka Counties, Nev., and plans are underway to expand exploration work at the company's Long Valley project, located in Mono County, Calif.
 Royal Gold is a Denver-based, publicly held corporation. The company is engaged in the gold and other precious metals business, primarily through joint ownership arrangements, and is also engaged in the acquisition, exploration, development and sale of gold properties.
 In addition to a 20 percent net profits royalty interest in the South Pipeline Project, Royal Gold has other exploration projects in Nevada, one project in Arizona and one in California. Royal Gold is traded on the Nasdaq Small-Cap Market under the symbol "RGLD."
 ROYAL GOLD INC.
 Summary of Financial Information
 Year Ended
 June 30,
 1993 1992
 Royalty income $150,000 ---
 Financial services $27,871 $82,524
 Total revenues $177,871 $82,524
 Loss from continuing operations $(617,946) $(638,011)
 Net loss $(617,946) $(638,011)
 Net loss per share from
 continuing operations $(.06) $(.07)
 Total assets $2,726,654 $1,876,782
 Working capital $1,229,389 $(272,421)
 Long-term liabilities $193,197 $452,947
 Average shares outstanding 11,157,126 9,162,388
 -0- 10/5/93
 /CONTACT: Stanley Dempsey of Royal Gold, 303-573-1660/
 (RGLD)


CO: Royal Gold Inc. ST: Colorado IN: MNG SU: ERN

MC-BB -- DV002 -- 8823 10/05/93 11:18 EDT
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Publication:PR Newswire
Date:Oct 5, 1993
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