Royal Gold, Inc. (RGLD) Mining Forum Americas 2026 September 28, 2026 4:10 PM EDT
Company Participants
William Heissenbuttel – President, CEO & Director
Conference Call Participants
Fahad Tariq – Jefferies LLC, Research Division
Presentation
William Heissenbuttel
President, CEO & Director
I do have some housekeeping to take care of. Well, I can do it. I just have to read our forward-looking statement here. So during today’s presentation, I will be making forward-looking statements. Risks and uncertainties could cause those actual results to differ materially from these statements, and these risks are discussed in our most recent 10-K filed with the SEC. None of the fun stuff.
Question-and-Answer Session
Fahad Tariq
Jefferies LLC, Research Division
Great. Well, maybe to start at a high level and to set the stage, for those of people in the room who don’t know the Royal Gold story, maybe can you bring us up to speed on where the company stands today following the Sandstorm acquisition and what you see as the investment thesis as it is today?
William Heissenbuttel
President, CEO & Director
Yes. I think last year was so transformational for the company as a whole. And the Sandstorm transaction and the Kansanshi transaction allowed us to do a few things that have been strategic goals on our end for a number of years. And the first one is diversification of the portfolio. Those of you who have followed us for a long time have followed Mount Milligan, the ups, the downs when it was 25% or 30% of our revenue and our NAV, and that posed challenges at some point.
With the transactions last year for the first 6 months of this year, we only had 2 assets that generated more than 10% of revenue and the largest was 12.5%. So what we’re talking to