Royal Gold Signed Agreement for Mount Milligan Mine Life Extension

In Q4 2024, the company reported net income of $62.8 million, or $0.95 per share.

SEATTLE (Scrap Monster): Royal Gold Inc. announced strong fourth quarter and full year 2023 operating and financial results.

The company announced that it has reached an agreement with Centerra Gold Inc., which will allow for the extension of future mine life of the Mount Milligan mine in British Columbia to 2035 and beyond. The Preliminary Economic Assessment to evaluate mine life extension opportunities is expected to be completed in the first half of 2025. It must be noted that a site optimization program had already commenced in Q4 last year.

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In Q4 2024, the company reported net income of $62.8 million, or $0.95 per share. The revenue stood at $152.7 million, whereas the operating cash flow was $101.1 million during the quarter. For the full year 2023, Royal Gold Inc. reported net income of $239.4 million, or $3.63 per share. The adjusted net income was $232.9 million, or $3.53 per share. The operating cash flow for the year totalled $415.8 million. The debt reduced by $325 million, said the company press release.

Commenting on the results, Bill Heissenbuttel, President and CEO of Royal Gold noted that the company finished 2023 on a strong note with solid financial results. The company raised its dividend for the 23rd straight year. The company expects to see continued revenue growth from its various development projects, he added.