Apr 5 2005
Royal Gold, a precious metals royalty company, today announced updated ore reserve and additional mineralization estimates and production forecasts for its royalty properties. These reserves, additional mineralization and production estimates are provided to us by the operators of our royalty properties:
- Pipeline Mining Complex - Placer Dome U.S. Inc.;
- Leeville project - Newmont Mining Corporation;
- SJ Claims, Goldstrike mine - Barrick Gold Corporation;
- Troy mine - Revett Minerals Inc.;
- Bald Mountain - Placer Dome U.S. Inc.; and
- Martha mine - Coeur d'Alene Mines Corporation.
Stanley Dempsey, Chairman and Chief Executive Officer, commented, "Reserve replacement is a key value driver for a royalty company. Even with a full year of gold production our net gold reserve base grew. Our reserve base for silver also increased. We are very pleased to be associated with high-quality mine operators who have the technical and financial capabilities to develop additional reserves subject to our royalties."
Across the Company's royalty properties, 2.160 million ounces of gold, and 4.208 million ounces of silver have been added to the reserves subject to the Company's various royalty holdings, compared to the prior calendar year estimates.
http://www.royalgold.com/