We recently sold the last of our long standing position in Royal Gold. The company owns and manages royalties on precious metals mines, with an obvious focus on gold as the company’s name implies. Our original investment thesis for Royal Gold centered on the company’s trophy assets of negotiated stream and royalty agreements. Royal Gold … Read more
Royal Gold is already down 30% year-to-date after dropping by 43% in 2015, with the initial decline in the company’s share price attributable to a lower gold price. However, since November 2015 the growing concern is attributable to the health of the mine operators from which Royal Gold derives a stream or royalty payment. Rubicon Minerals, a Canadian … Read more
Gold hit a new five-year low on Monday morning, falling more than 2% to less than $1,100 an ounce. The talking heads on TV cited a weekend report from the People’s Bank of China – China’s version of the Federal Reserve – as a reason for the plunge. From an article in the Wall Street … Read more
The past two years have been a difficult period for any investor with exposure to gold — both the metal itself and the operating mining companies. In particular, 2013 has been particularly brutal with many of the junior mining companies simply imploding. To be clear, our long-term constructive view on gold remains resolute. Our conviction … Read more
Royal Gold engages in the acquisition and management of precious metals royalties, precious metals streams, and similar interests. The company focuses on acquiring royalty interests or financing projects that are in production or in development stage in exchange for royalty interests. Although average gold prices have declined over the past two years, Royal Gold’s business … Read more