Tidbits from Royal Gold financialsFrom Q3 Canadian filings:Taparko Q3 25,350 oz versus Q2 20,139 oz
Royalty Revenue from Taparko Q3 $6M
"Higher revenues were largely driven by increased production at Taparko and Cortez..."
From Q3 SEC filings:
Taparko...appear to have largely remedied mill drive issues,but close monitoring of the mill drive train continues. Gold sales at Taparko for the three monthsended September 30, 2009, and September 30, 2008 were approximately 25,000 ounces and 120 ounces,respectively. The increase in gold sales during the period was attributable to the improved millavailability.
Somita SA (“Somita”), a 90% owned subsidiary of High River and the operator of Taparko, is inbreach of certain obligations under the Amended and Restated Funding Agreement datedFebruary 22, 2006 (the “Funding Agreement”) between Royal Gold, Inc. and Somita. Royal Gold hasinvested $35 million for the development of the Taparko mine under the Funding Agreement. Assecurity for the Company’s investment in Somita, two of High River’s subsidiaries have pledgedtheir equity interests in Somita and High River (West Africa) Ltd., the corporate parent of Somita.This pledge will remain in effect until certain production and performance standards have beenattained at the Taparko mine. In addition, Royal Gold obtained as collateral a pledge of shares ofcertain equity investments in public companies held by High River. The market value of the pledgedshares is approximately $43.2 million as of September 30, 2009. The Company’s carrying value ofits royalty interests at Taparko was approximately $20.8 million as of September 30, 2009. Thepledge of High River’s equity investment will remain in effect until project completion as providedin the construction contract between Somita and its construction contractor. Royal Gold has notagreed to forbear pursuing any of its remedies under the Funding Agreement or other agreements withHigh River and its affiliates.