Mining News
Operating cash flow up 26% at Royal Gold
Royal Gold (NASDAQ:RGLD) said today it had revenue of $498.8 million, operating cash flow of $340.8 million and earnings of $199.3 million during its fiscal year end.
The precious metals stream and royalty company released its year end today.
In its Q4 revenue was $120.0 million, an increase of 3.7%, and operating cash flow was $91.6 million, an increase of 26.7%.
COVID-19 pushed back its Khoemacau project in Botswana.
"[Although] a six-month state of emergency has been declared by the Government of Botswana to help prevent the spread of COVID-19, mining has been designated an “essential service” and activity at Khoemacau is continuing. However, due to reduced activity by certain critical contractors engaged in the process plant refurbishment during April and May, and the impacts experienced from travel restrictions, some activities have been slowed or rescheduled. Barring any potential further impacts caused by COVID-19 considerations, KCM now expects the first shipment of concentrate to occur late in the third calendar quarter of 2021," writes the company.
