RGL: Stunning Q2

MICHAEL JALONEN, Merrill Lynch (02/03/2011)
"Royal Gold reported higher YOY royalty revenues driven by new production: Royalty revenue in fiscal Q211 of $56.3M was 62% higher YOY vs. $34.7M for fiscal Q210. Higher royalty revenues were driven by new production at Andacollo and Voisey's Bay, as well as the gold price increasing 24.5% YOY. . .owing to several royalty-covered mines ramping-up to full production, Royal Gold looks set to see its fiscal 2011 revenue and earnings grow substantially on a YOY basis."

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