ROYAL GOLD,INC. (NASDAQ:RGLD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September19, 2018, Royal Gold,Inc. (the “Company”) announced the appointment of Daniel Breeze as Vice President, Corporate Development of the Company’s international business based in Zug, Switzerland. Mr.Breeze will be based in Zug and oversee the Company’s global business development function. The Company expects to appoint Mr.Breeze to the executive officer position Vice President, Corporate Development of Royal Gold,Inc. These appointments and commencement of Mr.Breeze’s employment are expected to occur following transition of his current responsibilities.
Mr.Breeze, 45, has served as Managing Director and Head of Region for BMO Capital Markets (“BMO”) in Zürich, Switzerland, since 2010. BMO is a subsidiary of the Bank of Montreal, a diversified financial services provider. BMO and the Bank of Montreal are unrelated to the Company. At BMO, Mr.Breeze is responsible for managing all aspects of BMO’s regional business, including business development and client relationship management. Mr.Breeze specializes in the mining and energy sectors and has developed deep corporate relationships at senior levels in these sectors. Prior to his banking career, Mr.Breeze was engaged as a project manager and geotechnical/mining engineer with a major international mining engineering and consulting firm.
Item 8.01 Other Events.
On September14, 2018, the Company announced a comprehensive settlement of litigation by subsidiaries of the Company and Altius Minerals Corporation (“Altius”) against Vale Canada Limited and its subsidiaries (“Vale”) in the Supreme Court of Newfoundland and Labrador Trial Division related to calculation of royalty payable on the sale of all concentrates from the Voisey’s Bay mine located in Newfoundland and Labrador, Canada. The press release announcing the settlement is filed with this Form8-K as Exhibit99.1 hereto.
The Voisey’s Bay royalty is directly owned by the Labrador Nickel Royalty Limited Partnership (“LNRLP”), in which the Company’s wholly-owned subsidiary is the general partner and 90% owner. The remaining 10% interest in LNRLP is owned by a wholly-owned subsidiary of Altius. The Voisey’s Bay mine is owned by a wholly-owned subsidiary of Vale Canada Limited.
The settlement resolved all claims in the litigation by application of a new method for calculating royalty in respect of Voisey’s Bay concentrates processed at Vale’s Long Harbour Processing Plant. The new method is effective for all Voisey’s Bay mine production after April1, 2018.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
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Exhibit No. |
Description |
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99.1 |
Press Release dated September14, 2018. |
ROYAL GOLD INC ExhibitEX-99.1 2 a18-31170_1ex99d1.htm EX-99.1 Exhibit 99.1 Royal Gold Resolves Voiseys Bay Royalty Dispute DENVER,…To view the full exhibit click here
About ROYAL GOLD,INC. (NASDAQ:RGLD)
Royal Gold, Inc., together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other. As of June 30, 2016, the Company owned stream interests on four producing properties and three development-stage properties. It has investments in stream interests relating to Pueblo Viejo, Andacollo, Wassa and Prestea, and Rainy River. As of June 30, 2016, the Company owned royalty interests on 34 producing properties, 21 development-stage properties and 131 exploration-stage properties, of which it considered 50 to be evaluation-stage projects.