Acquisition of 3.0% Net Smelter Return Royalty on Ruby Hill MineIn May, Royal Gold acquired a 3.0% net smelter return royalty on the Ruby Hill gold mine from International Minerals for $38 million. Ruby Hill is a producing mine located in Nevada and operated by Barrick Gold Corporation. Barrick reported proven and probable reserves, as of December 31, 2011, of 16.8 million tons of ore, at an average grade of 0.058 ounces per ton, containing approximately 978,000 ounces of gold. In addition to reserves, Barrick estimates additional mineralization 2 of 107.6 million tons, at a grade of 0.021 ounces per ton.
Royal Gold Reports Fourth Quarter Financials And Record Results For Fiscal Year 2012
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