Royal Gold Provides Update on Its Fiscal 2020 Third Quarter and Further Update on Impacts of COVID-19 - Seite 2

Royal Gold Liquidity Update

Royal Gold maintains a $1 billion revolving credit facility that matures on June 3, 2024. During the three months ended March 31, 2020, the Company repaid an additional $30 million of the outstanding borrowings under this facility, and as of March 31, 2020, had $105 million outstanding and $895 million available under this facility. The interest rate on these borrowings was LIBOR plus 1.10% for an all-in rate of 1.87%. As of March 31, 2020, the Company also had a cash balance of approximately $93 million.

On April 3, 2020, the Company drew an additional $200 million on the revolving credit facility at an interest rate of LIBOR plus 1.10% for an all-in rate of 2.54%, resulting in a total of $305 million outstanding and leaving $695 million available. While there is no immediate requirement for the additional funds, the drawdown is a prudent precautionary measure taken to help ensure that cash is readily available to support continued business activities during the unprecedented and uncertain environment caused by COVID-19. The Company believes that its current financial resources and funds generated from operations will be adequate to cover anticipated expenditures for debt service, general and administrative costs and capital expenditures for the foreseeable future. Current financial resources are also available to fund dividends and for acquisitions of stream and royalty interests, including the conditional funding schedule in connection with the Khoemacau silver stream acquisition.

Any amounts outstanding under the revolving credit facility can be repaid at any time without premium or penalty.

Conference Call

Royal Gold’s third quarter 2020 results will be released after the market close on Wednesday, May 6, 2020, followed by a conference call the next day at noon Eastern Time (10:00 a.m. Mountain Time). The call will be webcast and archived on the Company’s website for a limited time.

Fiscal 2020 third quarter earnings call information:

	Dial-In Numbers:		855-209-8260 (U.S.); toll free
			855-669-9657 (Canada); toll free
			412-542-4106 (International)