Friday, 3rd February 2006 (2599 views)

Denver-based Royal Gold has posted a net income of $2.9 million for the fiscal second quarter of 2006, equating to $0.12 per basic share.

This was an increase on the $2.1 million posted for the same quarter a year earlier by the precious metals royalty company.

Royalty revenue at the company also increased, from $6.0 million in the second quarter of fiscal 2005 to $7.6 million in fiscal 2006.

Free cash flow for the quarter was $5.4 million, representing 71 per cent of revenues. Free cash flow is defined by the company as operating income plus depreciation, depletion and amortization.

Royal Gold enjoyed a 26-cent boost in its share price. It traded at C$44.33 on the Toronto Stock Exchange following the results.

In November last year Royal Gold made a strategic alliance with precious metal exploration company Taranis Resources. Royal Gold will contribute $500,000 for exploration work in exchange for a two per cent royalty on Taranis' Kettukuusikko property in Finland, as well as other deals.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.