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Royal Gold's fiscal Q2 gold sales drop 15.4% YOY

Royal Gold Inc.'s gold sales dropped 15.4% to about 44,000 ounces in its second fiscal quarter from about 52,000 ounces a year ago, according to a Jan. 9 release.

The decline, through subsidiary RGLD Gold AG, came on the back of operational issues at the Mount Milligan mine in British Columbia and a change in payment scheduling at the Pueblo Viejo operation in the Dominican Republic, the company said. Royal Gold holds metal streams covering a portion of production from the mines.

Year-over-year silver sales climbed to 545,000 ounces from 470,000 ounces, and copper sales increased to 1,100 tonnes from 800 tonnes.

Royal Gold said the average realized gold, silver and copper prices during the quarter were, respectively, US$1,219/oz, US$14.45/oz, and US$6,092/t.

Cost of sales was US$327 per gold equivalent ounce in the period, compared to US$319 per gold equivalent ounce a year ago.