EURO Ressources S.A. provides guidance. The Rosebel royalty production is anticipated to be between 144,000 ounces and 171,000 ounces in 2021. In 2021, the Rosebel royalty is expected to provide revenues to the Company of between approximately €16.5 million and €19.6 million ($19.7 million and $23.3 million). These pre-tax numbers assume a gold price of $1,750 per ounce and an exchange rate of €1 for $1.19. The impact of changes in the average gold price on EURO’s annual revenues, based on an estimated production of 158,000 ounces, would be approximately $1.5 million for each $100 per ounce change in the gold price. The impact of a 5% change in the average foreign exchange rate on EURO’s annual revenues would be approximately €0.9 million. EURO’s cash flow is expected to be primarily affected by income tax payments. The Company maintains certain cash available to pursue opportunities that would enhance the Company's long-term business.