Royal Gold, together with its subsidiaries, acquires and manages precious metals stream and royalty interests, with a primary focus on gold. Royal Gold manages its business under two segments: Acquisition and Management of Stream Interests. A metal stream is a purchase agreement that provides, in exchange for an upfront deposit payment, the right to purchase all or a portion of one or more metals produced from a mine, at a price determined for the life of the transaction by the purchase agreement. Acquisition and Management of Royalty Interests - Royalties are non-operating interests in mining projects which provide the right to revenues or metals produced from the project after deducting specified costs, if any. Royal Gold entered into a silver mine life purchase agreement with Khoemacau Copper Mining Limited, subsidiary of Cupric Canyon Capital LP. The agreement highlights the purchase and sale of silver, produced from the Khoemacau Copper Project in Botswana.