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 Dallas 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. [Operator Instructions]

That being said, I will now hand the floor over to Alistair.

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

Well, thanks very much, Noella, for the introduction. Thanks for the invitation to present today. We've had lots of good news at Royal Gold over the past year or so, and it's also been a very interesting time for the gold market and the gold environment. So it's timely to give you an update.

So I will make forward-looking statements during the course of 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 the course of this presentation, I will give you the investment thesis for Royal Gold. We are a high-margin business. We generate consistent cash flows from precious metals, but we're not a mining company. This presentation will -- is divided into sections that