Gold News

Record results for Royal Gold

Royal Gold, the publicly-traded precious metals royalty company, has announced record financial results for fiscal 2007 which ended June 30th.

Revenues soared to $48.4 million in the period, increasing by 70 per cent on the 2006 figure of $28.4 million.

Net income, meanwhile, climbed to $19.7 million, which was up on last year's total of $11.3 million.

The fourth quarter of the recently-ended financial year was also a record period for Royal Gold, with royalty revenue reaching $14.4 million. This was up by 72 per cent on the same quarter in 2006, according to the figures released on August 16th.

Tony Jensen, president and chief executive officer, said: "The record-setting results we achieved in fiscal 2007 reflect the execution of our growth and diversification plan over the past eighteen months, supported by continued strength in commodity prices.

"The events over the past twelve months position us well for future financial growth."

Owning and managing royalties on precious metals mines, Royal Gold "provides investors with a unique opportunity to capture value in the precious metals sector without incurring the capital and operating costs", according to a statement from the firm.

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