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ROYAL GOLD ANNOUNCES YEAR END RESULTS, IMPROVEMENT OF FINANCIAL POSITION

 ROYAL GOLD ANNOUNCES YEAR END RESULTS,
 IMPROVEMENT OF FINANCIAL POSITION
 DENVER, Oct. 14 /PRNewswire/ -- Royal Gold Inc. (NASDAQ: RGLD) today reported audited year end results for fiscal year 1992, and disclosed that several recent injections of capital have materially improved the financial position of the company.
 1992 RESULTS
 The company reported a loss from continuing operations of approximately $638,000, or 7 cents per share for the fiscal year ended June 30, 1992, as compared to a net loss of approximately $8.9 million, or $1 per share in fiscal 1991. The net loss for 1992 results mainly from ongoing administrative expenses, compared to 1991 results which included a $7.5 million write down.
 Total revenues for the current period were $82,500, as compared with $345,000 in the previous fiscal year, and were comprised entirely of billings from the company's consulting services subsidiaries, as compared with $213,000 from bullion sales and $133,000 in consulting services billings the previous year.
 Exploration costs were $86,000 in fiscal 1992, as compared to $37,000 for fiscal 1991. General and administrative costs for fiscal 1992 and 1991 were $725,000 and $942,000, respectively. The company continues its efforts to reduce its administrative costs, which are less than $650,000, on an annualized basis as of Sept. 30, 1992.
 IMPROVED FINANCIAL POSITION
 Royal Gold received $400,000 from the sale of royalty interests and warrants during fiscal year 1992, $308,000 from a private placement of shares and warrants that was completed in July 1992, and another $800,000 from the sale of shares and warrants to Cortez Gold Mines in September 1992. In addition, Royal received $150,000 in advance minimum royalties from Placer Dome U.S. Inc., the operator of the Cortez Gold Mines joint venture, in September 1992. These receipts of cash have significantly strengthened the company's financial position.
 Royal Gold holds a 20 percent interest in the South Pipeline project in the Crescent Valley area of Lander County, Nev., approximately one-half mile south of the Pipeline discovery previously announced by Placer Dome Inc. (NYSE: PDG) and its co-venturer in the Cortez Gold Mines joint venture. Placer's wholly-owned subsidiary, Placer Dome U.S. Inc., is the operator of the South Pipeline project.
 Royal Gold is a Denver-based, publicly held corporation. Royal Gold is engaged in the gold and other precious metals business, primarily through passive and joint ownership arrangements, and in the acquisition, exploration, development and sale of gold properties. In addition to its interest in the South Pipeline project, Royal has one gold project in California being explored by Battle Mountain, one in Nevada being explored by Newmont, and one in Arizona being explored by Southwest Exploration. Royal is traded on NASDAQ under the symbol RGLD.
 ROYAL GOLD INC.
 SUMMARY OF FINANCIAL INFORMATION
 YEAR ENDED
 June 30,
 1992 1991
 Bullion sales --- $212,706
 Financial and environmental
 services $82,524 $132,728
 Total revenues $82,524 $345,434
 Direct cost of bullion
 production --- $1,101,292
 Loss form continuing
 operations $(638,011) $(8,939,829)
 Net loss $(638,011) $(8,939,829)
 Net income (loss) per
 share from continuing
 operations $(.07) $(1.00)
 Total assets $1,876,782 $2,608,815
 Working capital $(272,421) $(235,768)
 Long-term liabilities $452,947 $405,522
 Average shares outstanding 9,162,388 8,932,417
 -0- 10/14/92
 /CONTACT: Stanley Dempsey of Royal Gold, 303-573-1660/
 (RGLD PDG) CO: Royal Gold Inc. ST: Colorado IN: MNG SU: ERN


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Publication:PR Newswire
Date:Oct 14, 1992
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