Good morning, everyone. It is my pleasure to welcome you to Royal Gold's special meeting of stockholders. I am Bill Heissenbuttel, Chair of the Board, and I will serve as Chair of this meeting. It is shortly after 9:00 A.M. Mountain Time on October 9, 2025, and the meeting is officially called to order. Only the business described in the notice of special meeting will be conducted today. On the right side of your screen, under the meeting materials, you will see the agenda and rules of conduct for the special meeting. The rules of conduct set forth the procedures that we will follow during the meeting. Please note that we are recording the meeting. Broadridge has provided a written affidavit confirming that the notice of meeting and proxy statement were made available to stockholders of record as of August 29, 2025.
Christine Amerin, a representative of American Election Services LLC, has been appointed as our Inspector of Election and advises that stockholders present online at this meeting or represented by proxy hold at least a majority of the outstanding shares entitled to vote as of the record date, thereby constituting a quorum. The polls are currently open. Any stockholders who have not yet voted or wish to change their vote may do so by clicking on the voting button on the screen and following instructions. If you previously voted by mail, telephone, or the Internet and do not wish to change your vote, you do not need to take any further action. There are two proposals being considered at this meeting.
The first proposal is the approval of the issuance of shares of Royal Gold common stock to Sandstorm shareholders and option holders in connection with the Sandstorm arrangement as described in the proxy materials. The second proposal is the approval of an adjournment of the special meeting, if necessary or appropriate, including to solicit additional proxies if there are not sufficient votes to approve the stock issuance proposal. We will not need to consider the adjournment proposal if there are sufficient votes to approve the stock issuance proposal. We will now pause to allow any final votes to be cast. The polls are now closed. Based on the Inspector of Election's preliminary report, the proposal to approve the issuance of shares of Royal Gold common stock to Sandstorm shareholders and option holders has been duly approved.
Because the stock issuance proposal has been approved, the adjournment proposal will not be considered. We will report the final meeting results within four business days on a Form 8-K filed with the Securities and Exchange Commission. This concludes the special meeting of stockholders. I hereby adjourn the meeting. Thank you for your continued support of Royal Gold. This does conclude today's conference, and we thank you all for your participation. You may now disconnect.