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ROYAL GOLD RELEASES FIRST QUARTER 1994 RESULTS

 DENVER, Nov. 22 /PRNewswire/ -- Royal Gold Inc. (NASDAQ: RGLD) today reported unaudited results for the first quarter, July 1, 1993 through Sept. 30, 1993, of fiscal year 1994. The company reported a net loss of $93,621, or 1 cent per share for the quarter, compared to a net loss of $65,745, or 1 cent per share, for the like period in fiscal 1993.
 During the three months ended Sept. 30, 1993, the company acquired four exploration gold prospects in Nevada, and identified several opportunities to become involved in large exploration plays elsewhere in the United States and in other countries. The company plans to continue exploration work on its Nevada prospects.
 The company continues to receive encouraging news about the South Pipeline Project from Placer Dome U.S. Inc. ("PDUS"), the operator of the project. The South Pipeline Project involves an approximately 4,000 acre mining claim position in the Cortez district, located in Crescent Valley, Lander County, Nev. The company hopes to have an estimate of proven and probable reserves from PDUS by early 1994.
 Stanley Dempsey, chairman of Royal Gold, stated that, "The company has adequate cash to maintain its exploration efforts. Our best estimate is that the earliest possible date for revenue from South Pipeline is some time in late 1994, although Placer Dome U.S. has made no announcement of a development decision or a timetable for such a decision."
 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 several exploration projects in Nevada, one project in Arizona and one in California. Royal is traded on NASDAQ under the symbol RGLD.
 ROYAL GOLD INC.
 Summary of Financial Information
 Quarter Ended
 Sept. 30,
 1993 1992
 Royalty income $152,501 $150,000
 Financial services $16,399 $6,491
 Total revenues $168,900 $156,491
 Exploration and lease maintenance
 and holding costs $95,241 $7,019
 General and administrative $168,869 $210,497
 Net loss $(93,621) $(65,745)
 Net loss per share $(.01) $(.01)
 Total assets $2,168,587 $2,951,977
 Working capital --- $809,339
 Long-term liabilities:
 Deferred reclamation --- $337,101
 Post-retirement benefit
 and other $172,664 $109,246
 Shareholders' equity $2,196,539 $1,984,321
 Average shares outstanding 12,154,789 9,436,961
 -0- 11/22/93
 /CONTACT: Stanley Dempsey of Royal Gold, 303-573-1660/
 (RGLD)


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

BB -- DV002 -- 6869 11/22/93 14:18 EST
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Publication:PR Newswire
Date:Nov 22, 1993
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