RGLD News & Events

The company said, "To provide transparency with respect to our longer-term revenue potential, we are issuing our inaugural 5 Year Outlook for total GEOs, which range from 430,000 to 480,000. This range is based on the mid-points of available operator guidance, production estimates provided by operators at steady-state, and Royal Gold estimates, and the range is not risk-adjusted for production levels or startup timing on an asset-by-asset basis. We will not update this range through 2026 and expect to provide a new 5 Year Outlook in early 2027. This outlook reflects our expectations for increased production due to expansions at Khoemacau and Platreef Phase 2; extension of Bald Mountain Redbird; new production from assets including Corani, Great Bear, Hod Maden, La India, Robertson and Warintza; and expected stream rate step downs at Wassa and the Rainy River silver stream. We have not assumed any contribution from the 30% joint venture interest in the Hod Maden project in this outlook given our stated objective of converting our direct joint venture ownership into a stream or royalty interest more typical of our business model. This outlook does not include contributions from assets that are expected to begin production beyond this 5 year period, including Cactus (mining on our royalty area), Fourmile, Gualcamayo, Horne 5, MARA and Oyu Tolgoi, and increased production from the Platreef Phase 3 expansion."

Sees silver sales 3M-3.5M oz. Sees copper sales 21M-25M lbs. Sees other metal sales $34M-$38M. The company said, "Sales guidance for 2026 is provided on a sales volume basis to provide transparency and avoid the effect of volatile commodity prices in the conversion of revenue to gold equivalent ounces. Sales volume for stream interests represents physical metal sold, and sales volume for royalty interests represents royalty revenue received divided by the average metal price for the relevant period. Gold, silver and copper are expected to provide the majority of 2026 revenue. We expect the midpoints of our 2026 sales volumes to be 32%, 8% and 40% higher for gold, silver and copper, respectively, than actual sales volumes in 2025. Sales from Other Metals are expected to be relatively minor and the range provided assumes 2026 prices of $7.30/lb for nickel, $1.35/lb for zinc, and $0.91/lb for lead, which are the metals that are expected to provide most of this component of sales. Sales volumes are expected to be split approximately 48%/52% between the first half and second half of 2026. The 2026 sales guidance is determined based on a review of confidential information and production forecasts provided to Royal Gold from certain operating counterparties, and publicly available production forecasts for those interests where Royal Gold does not have rights to receive confidential information. Certain of these third-party forecasts have been adjusted by Royal Gold based on management's experience.'