Key Developments: Royal Gold Inc (RGLD.O)
48.86USD
17 May 2013
$-1.37 (-2.73%)
$50.23
$50.05
$50.67
$48.81
995,944
972,129
$100.84
$48.33
Latest Key Developments (Source: Significant Developments)
Royal Gold Inc Announces Second Quarter Dividend
Royal Gold Inc announced that its Board of Directors has declared its second quarter dividend of USD0.20 per share of common stock. The dividend is payable on April 19, 2013 to shareholders of record at the close of business on April 5, 2013. The quarterly dividend of USD0.20 is also payable to holders of exchangeable shares of RG Exchangeco. Full Article
Royal Gold Inc Announces Exercise of Option Related to Kerr-Sulphurets-Mitchell Project
Royal Gold Inc announced that pursuant to its June 2011 Option Agreement with Seabridge Gold, Inc. (Seabridge), Royal Gold increased the size of the net smelter return (NSR) royalty it may acquire on the Kerr-Sulphurets-Mitchell (KSM) project from 1.25% to 2.0% by purchasing 1,004,491 common shares of Seabridge (the Additional Shares) at a 15% premium to the current market price, for CAD18 million. Royal Gold now holds the right to purchase either a 1.25% NSR royalty for CAD100 million, or a 2.0% NSR royalty for CAD160 million on all of the gold and silver production from the project, payable in three equal installments over a 540-day period. Royal Gold sold the Additional Shares in a private transaction to an unrelated party. The net cost to acquire the right to increase the size of the NSR royalty was approximately $3.6 million. Royal Gold continues to hold 1,019,000 shares of Seabridge common stock purchased in June 2011. Royal Gold does not expect to consider the royalty purchase until the project achieves certain permitting and financing requirements and a decision to construct has occurred. The options to purchase the NSR royalty will remain exercisable for 60 days following Royal Gold’s satisfaction that the project has received all material approvals and permits, has sufficient committed funding for construction, and certain other conditions have been met. Full Article
Royal Gold Inc Raises Dividend By 33%
Royal Gold Inc announced that it has raised dividend by 33%, as the Company looks to bolster shareholder value. The quarterly payout was boosted to 20 cents a share, up from 15 cents, with the annual yield now about 0.9%. The increase should cost the company an additional $3 million a quarter. Full Article
Royal Gold Inc Announces Closing Of Common Stock Offering
Royal Gold Inc announced that it has sold 5.25 million shares of Royal Gold common stock to a group of underwriters led by Goldman, Sachs & Co. in an underwritten at-the-market public offering. The offering was made pursuant to the Company`s shelf registration statement filed with the Securities and Exchange Commission and a shelf prospectus filed with certain Canadian securities regulatory authorities. Proceeds to the Company from the offering are expected to be $472.5 million before expenses. Goldman, Sachs & Co. acted as the sole book-running manager for the offering, and HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. acted as lead managers. Royal Gold intends to use the net proceeds of this offering for the acquisition of additional royalty or similar interests and general corporate purposes. Full Article
Royal Gold Inc Prices 5.25 Million Share Common Stock Offering
Royal Gold Inc announced that it has priced its underwritten at-the-market public offering of 5.25 million shares of common stock. Shares of common stock were initially reoffered by the underwriters at a price of $91.00 per share. The offering is expected to close on October 15, 2012, subject to customary closing conditions. Goldman, Sachs & Co. is acting as the sole book-running manager for the offering, and HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. are acting as lead managers. Royal Gold intends to use the net proceeds of this offering for the acquisition of additional royalty or similar interests and for general corporate purposes. Full Article
Royal Gold Inc Announces 5.25 Million Share Common Stock Offering
Royal Gold Inc announced that it has agreed to sell 5.25 million shares of common stock of Royal Gold to a group of underwriters led by Goldman, Sachs & Co. in an underwritten at-the-market public offering. To the extent the underwriters sell more than 5.25 million shares, the underwriters will have the option to purchase up to 750,000 additional shares from Royal Gold. The last reported sale price of Royal Gold’s common stock on the NASDAQ Global Select Market on October 9, 2012 was $94.16 per share. The offering is expected to close on October 15, 2012, subject to customary closing conditions. Goldman, Sachs & Co. is acting as the sole book-running manager for the offering, and HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. are acting as lead managers. Royal Gold intends to use the net proceeds of this offering for the acquisition of additional royalty or similar interests and for general corporate purposes. Full Article
Royal Gold Inc Announces Fourth Quarter Dividend
Royal Gold Inc announced that its Board of Directors has declared its fourth quarter dividend of $0.15 per share of common stock. The dividend is payable on October 19, 2012 to shareholders of record at the close of business on October 5, 2012. The quarterly dividend of $0.15 is also payable to holders of exchangeable shares of RG Exchangeco. Full Article
Royal Gold, Inc.'s RGLD Gold AG Agrees To Acquire Additional 12.25% Of Payable Gold Produced From Mt. Milligan Copper-gold Project From Subsidiary Of Thompson Creek Metals Company Inc
Royal Gold, Inc. announced it has agreed to acquire, through its wholly-owned subsidiary RGLD Gold AG, an additional 12.25% of the payable gold produced from the Mt. Milligan copper-gold project, located in British Columbia, from a subsidiary of Thompson Creek Metals Company Inc. Consideration for the new transaction is $200 million and cash payments equal to the lesser of $435 or the prevailing market price for each payable ounce of gold delivered to Royal Gold. The structure of the Delivery Payments is unchanged from the Mt. Milligan transaction announced in December 2011. The new transaction is subject to the satisfaction of various conditions, including, among other things, Thompson Creek receiving final approval for an amendment to its senior secured revolving credit agreement satisfactory to Royal Gold and approval of the new transaction by the lenders thereunder within 30 days. Thompson Creek is in negotiations with its lenders to obtain these approvals. Combined with the prior transactions completed in July 2010 and December 2011, Royal Gold will be entitled to 52.25% of the payable gold produced from Mt. Milligan for total consideration of $781.5 million and the Delivery Payments. To date, Royal Gold has paid approximately $454.6 million to Thompson Creek and will pay $75.0 million following closing of the new transaction and the remaining $251.9 million in five scheduled quarterly payments commencing on September 1, 2012 and ending on September 1, 2013. Full Article
Royal Gold, Inc. Announces Closing Of 2.875% Convertible Senior Notes Offering
Royal Gold, Inc. announced the closing of its offering of $370 million aggregate principal amount of 2.875% convertible senior notes due 2019 (the Notes), which amount includes the full exercise by the underwriters of an over-allotment option to purchase $45 million aggregate principal amount of the Notes. Net proceeds from the offering were approximately $359.1 million, after deducting underwriting discounts and commissions and offering expenses. Royal Gold intends to use the net proceeds to repay amounts outstanding under, and to terminate, its term loan facility, and for general corporate purposes, including future acquisitions of royalty interests. Goldman, Sachs & Co. acted as the sole book-running manager for the offering, and HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. acted as lead managers for the offering. Full Article
Royal Gold, Inc. Prices $325 Million of Senior Convertible Notes
Royal Gold, Inc. announced that it has priced an underwritten public offering of $325 million aggregate principal amount of convertible senior notes due 2019. In addition, Royal Gold has granted the underwriters a 30-day over-allotment option to purchase up to an additional $45 million aggregate principal amount of notes. The offering is expected to close on June 20, 2012, subject to customary closing conditions. The notes will be senior unsecured obligations of Royal Gold. The notes will pay interest semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2012, at a rate of 2.875% per year, and will mature on June 15, 2019. The notes will be convertible by the holders beginning on March 15, 2019, or earlier upon the occurrence of certain events. The notes will be convertible at an initial conversion rate of 9.4955 shares per $1,000 principal amount of notes, equivalent to an initial conversion price of approximately $105.31 per share. Royal Gold intends to use the net proceeds from the offering to repay amounts outstanding under, and to terminate, its term loan facility, and for general corporate purposes, including future acquisitions. Goldman, Sachs & Co. is acting as the sole book-running manager for the offering, and HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. are acting as lead managers for the offering. Full Article
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