BS: Royal Gold posts gain in gold and silver reserves
Precious metals royalty company Royal Gold Inc. reported Friday an increase in its total precious metal reserves over the previous year.
The company said that for fiscal 2009, total reserves included 78.6 million ounces of gold, up 22 percent from the prior year, and 1.3 billion ounces of silver, an increase of 12 percent.
The gains largely reflect the company's acquisitions last year of International Royalty Corp. and the Andacollo mine in Chile from a Teck Cominco Ltd. subsidiary.
Shares of the company fell 8 cents to $49.22 in late afternoon trading.
