William Heissenbuttel

“I certainly appreciate your interest in our company. I hope you do find the day to be informative and interesting as we give you an update on our business. So today, as Alistair just said, we have 10 members of the Royal Gold team present, which means you have a little more than 25% of our entire company in this room.”

“Our second quarter was another excellent quarter for Royal Gold with new records for revenue, earnings, and cash flow. Earnings for the quarter were $132 million or $2.01 per share.”

“Our first quarter gave us a solid start to 2025. Our portfolio delivered steady performance and the strong and rising gold price was a significant tailwind. Earnings for the quarter were a record $113 million or $1.72 per share.”

“2024 was an excellent year for Royal Gold. We recorded a stronger than anticipated fourth quarter and set records for revenue, operating cash flow, and earnings for both the annual and quarterly period.”

“We had a good start to the year with revenue of $149 million, operating cash flow of $138 million, and earnings of $47 million, or $0.72 per share. After adjustments, earnings were $0.91 per share.”