Printer Friendly

ROYAL GOLD RELEASES SECOND QUARTER 1992 RESULTS

 ROYAL GOLD RELEASES SECOND QUARTER 1992 RESULTS
 DENVER, Feb. 28 /PRNewswire/ -- Royal Gold Inc. (NASDAQ: RGLD)


today reported unaudited results for the second quarter, Oct. 1, 1991 through Dec. 31, 1991, of fiscal year 1992. The company reported a net loss of $165,300 or 2 cents per share for the quarter, compared to a net loss of $224,600 or 3 cents for the quarter ended Dec. 31, 1990, and a net loss of $350,500 or 4 cents per share for the six months ended Dec. 31, 1991, compared to a net loss of $648,100 or 7 cents per share for the six months ended Dec. 31, 1990.
 The net loss for the three month and six month periods ended Dec. 31, 1991, is primarily due to non-operating leasehold costs at the company's properties, and general and administrative expenses. The net loss for the three month and six month periods ended Dec. 31, 1990, included higher levels of general and administration expenses as well as higher non-operating leasehold costs.
 Stanley Dempsey, chairman of Royal Gold, stated that "the company's farm out program with major company partners continues to be successful, and we further reduced the company's general and administrative costs. Immediate liquidity needs are being met from available cash resources, interest income, earnings from financial and environmental services, proceeds from the sale of equipment, and from the sale of 98 percent of the company's royalty interests in the Crescent Valley project. Management continues to investigate the feasibility of a merger or restructuring to secure greater liquidity."
 Royal Gold's wholly-owned subsidiary, Denver Mining Finance Co. ("DMFC"), continues to attract quality business from overseas investors and investment banks, foreign and domestic mining companies and law firms. It also receives management fee income from the newly formed Crescent Valley Partners, the buyer of 98 percent of Royal Gold's interest in the Crescent Valley project. DMFC has been working on several important mining opportunities in the former USSR.
 Royal Gold is a Denver-based, publicly held corporation. Royal Gold is engaged in the production of gold and other precious metals primarily through joint ownerships, and the acquisition, exploration, development and sale of gold properties. Royal has one gold project in California being explored by Battle Mountain, one in Nevada being explored by Newmont, and one in Arizona where efforts to farm-out or sell continue. Royal is traded on NASDAQ under the symbol RGLD.
 ROYAL GOLD INC.
 SUMMARY OF FINANCIAL INFORMATION
 Quarter Ended
 Dec. 31,
 1990 1989
 Bullion sales $0 $33,332
 Financial services $16,076 $39,954
 Total revenues $16,076 $73,286
 Direct cost of
 bullion production $0 $142,488
 Exploration, recoupment
 of exploration, and non-
 operating leasehold
 costs $21,302 $34,355
 General and administrative $128,407 $249,805
 Income (loss) from
 continuing operations $(165,347) $(224,601)
 Net income (loss) per
 share: continuing operations $(.02) $(.03)
 $(.02) $(.03)
 Average shares outstanding 9,157,250 8,789,250
 Six Months Ended Dec. 31,
 1990 1989
 Bullion sales $0 $49,056
 Financial services $42,431 $118,869
 Total revenues $42,431 $167,925
 Direct cost of bullion
 production $0 $179,633
 Exploration, recoupment of
 exploration, and non-
 operating leasehold costs $47,025 $232,488
 General & administrative $310,652 $508,570
 Net income (loss) continuing
 operations $(350,550) $(648,100)
 Net income (loss) per share:
 continuing operations $(.04) $(.07)
 $(.04) $(.07)
 Total assets $2,275,938 $10,727,553
 Working capital $(282,865) $51,382
 Long-term liabilities:
 Deferred reclamation $337,101 $337,101
 Post-retirement benefit
 & other $131,691 $104,037
 Average shares outstanding 9,157,250 8,789,250
 -0- 2/28/92
 /CONTACT: Stanley Dempsey of Royal Gold, 303-573-1660/
 (RGLD) CO: Royal Gold Inc. ST: Colorado IN: MNG SU: ERN


MC -- DV004 -- 3699 02/28/92 12:03 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 28, 1992
Words:628
Previous Article:AIRCO GASES DESIGNATED OFFICIAL SUPPLIER FOR INTERNATIONAL WELDING EXPOSITION
Next Article:DUFF & PHELPS LOWERS RATINGS OF ARKLA DEBT AND PREFERRED STOCK
Topics:


Related Articles
FMC GOLD REPORTS SECOND QUARTER RESULTS
AMAX GOLD ANNOUNCES SECOND QUARTER/HALF YEAR RESULTS; GOLD IS POURED AT HAYDEN HILL
NEWMONT MINING REPORTS GAIN IN SECOND QUARTER EARNINGS; LEADING GOLD PRODUCER EARNED 36 CENTS/SHARE VS. 32 CENTS/SHARE
NEWMONT GOLD REPORTS SECOND QUARTER INCOME; COMPANY REAFFIRMS PRODUCTION AND COST TARGETS FOR YEAR
MINVEN ANNOUNCES 1992 SECOND QUARTER RESULTS (UNITED STATES DOLLARS)
ROYAL GOLD RELEASES THIRD QUARTER 1993 RESULTS; ANNOUNCES LARGER RESOURCE ESTIMATE FOR SOUTH PIPELINE
FMC GOLD REPORTS SECOND QUARTER RESULTS
AMAX GOLD WRITES DOWN HAYDEN HILL MINE REPORTS 2ND QUARTER/HALF YEAR RESULTS
FMC GOLD REPORTS THIRD QUARTER RESULTS
ROYAL GOLD RELEASES SECOND QUARTER 1994 RESULTS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters