Friday, 17th August 2007 (2250 views)

Gold exploration company Royal Gold has announced its fiscal results for the 2007 financial year.

According to Royal Gold, the results represent a "record" year for the company, with revenues reaching $48.4 million, a 70 per cent increase compared to the same period in 2006.

Net income for 2007 was reported at $19.7 million compared to net income of $11.4 million for the corresponding fiscal period of 2006.

"The record-setting results we achieved in fiscal 2007 reflect the execution of our growth and diversification plan over the past eighteen months, supported by continued strength in commodity prices," commented Tony Jensen, president of Royal Gold.

During the fourth quarter of 2007, Royal Gold's Pipeline Mining Complex sold approximately 140,000 ounces of gold compared to metal sales of approximately 76,000 ounces of gold in 2006.

In July, the company announced preliminary results from its 2006/2007 exploration programme which showed new mineralisation at Troy.

 

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