Noella Alexander-Young

Hello, and good morning, everyone. Welcome to today's virtual non-deal roadshow. My name is Noella Alexander-Young, virtual event moderator here at Renmark Financial Communications. On behalf of our team, we'd like to thank everyone in San Francisco and surrounding areas for joining us today for the presentation of Royal Gold trading on the NASDAQ under the ticker symbol RGLD. Presenting today is Alistair Baker, Senior Vice President of Investor Relations and Business Development.

The presentation will last approximately 25 minutes and will be followed by a Q&A session for which you can participate by using the chat box in the top right-hand corner of your screen. That being said, I will now hand it over to Alistair.

Alistair Baker
Senior Vice President of Investor Relations & Business Development of Royal Gold Corp.

Thanks very much, Noella. I appreciate the opportunity to present to you today. Had a very busy time at Royal Gold over the past year. And I think it's still, we haven't seen recognition in the market for a lot of what we've done. So I think it's very timely to give you an update today.

So I will be making forward-looking statements during this presentation. There are risks and uncertainties that could cause actual results to differ materially from these statements. All of these risks and uncertainties are discussed in our most recent form 10-K filing with the SEC.

So during this presentation, I'm going to give you the investment thesis for Royal Gold. We are a high-margin business. We generate consistent cash flows from