Royal Gold (RGLD) 10-K 6 Aug 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2015	Jul. 28, 2015	Dec. 31, 2014
Document and Entity Information
Entity Registrant Name	ROYAL GOLD INC
Entity Central Index Key	85,535
Document Type	10-K
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 4,057,901,615
Entity Shares Outstanding		65,187,727
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
ASSETS
Cash and equivalents	$ 742,849	$ 659,536
Royalty receivables	37,681	46,654
Income tax receivable	6,422	21,947
Prepaid expenses and other	3,798	7,840
Total current assets	790,750	735,977
Royalty and stream interests, net (Note 4)	2,083,608	2,109,067
Available-for-sale securities (Note 5)	6,273	9,608
Other assets	44,801	36,892
Total assets	2,925,432	2,891,544
LIABILITIES
Accounts payable	4,911	3,897
Dividends payable	14,341	13,678
Foreign withholding taxes payable	199	2,199
Other current liabilities	5,522	2,730
Total current liabilities	24,973	22,504
Debt (Note 6)	322,110	311,860
Deferred tax liabilities	146,603	169,865
Uncertain tax positions (Note 11)	15,130	13,725
Other long-term liabilities	689	1,033
Total liabilities	$ 509,505	$ 518,987
Commitments and contingencies (Note 15)
EQUITY
Preferred stock, $.01 par value, authorized 10,000,000 shares authorized; and 0 shares issued
Common stock, $.01 par value, 100,000,000 shares authorized; and 65,033,547 and 64,578,401 shares outstanding, respectively	$ 650	$ 646
Exchangeable shares, no par value, 1,806,649 shares issued, less 1,806,649 and 1,426,792 redeemed shares, respectively		16,718
Additional paid-in capital	2,170,643	2,147,650
Accumulated other comprehensive loss	(3,292)	(160)
Accumulated earnings	185,121	189,871
Total Royal Gold stockholders' equity	2,353,122	2,354,725
Non-controlling interests	62,805	17,832
Total equity	2,415,927	2,372,557
Total liabilities and equity	$ 2,925,432	$ 2,891,544

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Jun. 30, 2014
Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	65,033,547	64,578,401
Exchangeable shares, par value (in dollars per share)	$ 0	$ 0
Exchangeable shares, shares issued	1,806,649	1,806,649
Exchangeable shares, shares redeemed	1,806,649	1,426,792

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Consolidated Statements of Operations and Comprehensive Income
Revenue	$ 278,019	$ 237,162	$ 289,224
Costs and expenses
Cost of sales	33,450	9,158
General and administrative	27,869	21,186	24,027
Production taxes	5,446	6,756	9,010
Exploration Costs	2,194
Depreciation, depletion and amortization	93,486	91,342	85,020
Impairment of royalty and stream interests	28,339
Total costs and expenses	190,784	128,442	118,057
Operating income	87,235	108,720	171,167
Loss on available-for-sale securities	(183)	(4,499)	(12,121)
Interest and other income	883	2,050	2,902
Interest and other expense	(25,691)	(23,344)	(24,780)
Income before income taxes	62,244	82,927	137,168
Income tax expense	(9,566)	(19,455)	(63,759)
Net income	52,678	63,472	73,409
Net income attributable to non-controlling interests	(713)	(831)	(4,256)
Net income attributable to Royal Gold common stockholders	51,965	62,641	69,153
Net income	52,678	63,472	73,409
Adjustments to comprehensive income, net of tax
Unrealized change in market value of available-for-sale securities	(3,292)	(98)	(4,526)
Recognized loss on available-for-sale securities	160	4,510	13,716
Comprehensive income	49,546	67,884	82,599
Comprehensive income attributable to non-controlling interests	(713)	(831)	(4,256)
Comprehensive income attributable to Royal Gold stockholders	$ 48,833	$ 67,053	$ 78,343
Net income per share available to Royal Gold common stockholders:
Basic earnings per share (in dollars per share)	$ 0.80	$ 0.96	$ 1.09
Basic weighted average shares outstanding (in shares)	65,007,861	64,909,149	63,250,247
Diluted earnings per share (in dollars per share)	$ 0.80	$ 0.96	$ 1.09
Diluted weighted average shares outstanding (in shares)	65,125,173	65,026,256	63,429,822
Cash dividends declared per common share (in dollars per share)	$ 0.87	$ 0.83	$ 0.75

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Common Stock	Exchangeable Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interest	Total
Balance at Jun. 30, 2012	$ 586	$ 35,156	$ 1,656,357	$ (13,763)	$ 160,123	$ 24,970	$ 1,863,429
Balance (in shares) at Jun. 30, 2012	58,614,221	798,826
Issuance of common stock for:
Equity offering	$ 53		471,815				471,868
Equity offering (in shares)	5,250,000
Exchange of exchangeable shares	$ 1	$ (5,791)	5,790
Exchange of exchangeable shares (in shares)	131,597	(131,597)
Other			765				765
Stock-based compensation and related share issuances	$ 2		7,446				7,448
Stock-based compensation and related share issuances (in shares)	188,218
Net income					69,153	4,256	73,409
Other comprehensive income (loss)				9,191			9,191
Distribution to non-controlling interests						(7,477)	(7,477)
Dividends declared					(47,997)		(47,997)
Balance at Jun. 30, 2013	$ 642	$ 29,365	2,142,173	(4,572)	181,279	21,749	2,370,636
Balance (in shares) at Jun. 30, 2013	64,184,036	667,229
Issuance of common stock for:
Exchange of exchangeable shares	$ 3	$ (12,647)	12,644
Exchange of exchangeable shares (in shares)	287,372	(287,372)
Non-controlling interest assignment			(11,463)			(2,250)	(13,713)
Stock-based compensation and related share issuances	$ 1		4,296				4,297
Stock-based compensation and related share issuances (in shares)	106,993
Net income					62,641	831	63,472
Other comprehensive income (loss)				4,412			4,412
Distribution to non-controlling interests						(2,498)	(2,498)
Dividends declared					(54,049)		(54,049)
Balance at Jun. 30, 2014	$ 646	$ 16,718	2,147,650	(160)	189,871	17,832	2,372,557
Balance (in shares) at Jun. 30, 2014	64,578,401	379,857
Issuance of common stock for:
Exchange of exchangeable shares	$ 3	$ (16,718)	16,715
Exchange of exchangeable shares (in shares)	379,857	(379,857)
Non-controlling interest assignment						45,700	45,700
Stock-based compensation and related share issuances	$ 1		6,278				6,279
Stock-based compensation and related share issuances (in shares)	75,289
Net income					51,965	713	52,678
Other comprehensive income (loss)				(3,132)			(3,132)
Distribution to non-controlling interests						(1,440)	(1,440)
Dividends declared					(56,715)		(56,715)
Balance at Jun. 30, 2015	$ 650		$ 2,170,643	$ (3,292)	$ 185,121	$ 62,805	$ 2,415,927
Balance (in shares) at Jun. 30, 2015	65,033,547

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:
Net income	$ 52,678	$ 63,472	$ 73,409
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	93,486	91,342	85,020
Recognized loss on available-for-sale securities	183	4,499	12,121
Non-cash employee stock compensation expense	5,141	2,580	5,701
Gain on distribution to non-controlling interest	(46)	(259)	(2,837)
Amortization of debt discount	10,250	9,597	9,015
Impairment of royalty and stream interests	28,339
Tax benefit of stock-based compensation exercises	(364)	(597)	(2,966)
Deferred tax benefit	(27,651)	(8,166)	(11,419)
Other			100
Changes in assets and liabilities:
Royalty receivables	8,973	3,731	3,562
Prepaid expenses and other assets	5,487	9,756	(12,300)
Accounts payable	150	1,105	113
Foreign withholding taxes payable	(2,000)	(13,319)	15,294
Income taxes receivable	(15,525)	6,183	3,127
Uncertain tax positions	1,405	(7,441)	1,697
Other liabilities	543	(2,915)	(753)
Net cash provided by operating activities	192,099	147,202	172,630
Cash flows from investing activities:
Acquisition of royalty and stream interests	(60,429)	(80,019)	(314,262)
Tulsequah stream termination	10,000
Other	(773)	(4,782)	4,820
Net cash used in investing activities	(51,202)	(84,801)	(309,442)
Cash flows from financing activities:
Net proceeds from issuance of common stock	775	1,120	473,771
Common stock dividends	(56,054)	(53,380)	(43,934)
Purchase of additional royalty interest from non-controlling interest		(11,522)
Debt issuance costs	(864)	(1,284)
Distribution to non-controlling interests	(1,805)	(2,431)	(7,412)
Tax expense of stock-based compensation exercises	364	597	2,966
Net cash (used in) provided by financing activities	(57,584)	(66,900)	425,391
Net increase (decrease) in cash and equivalents	83,313	(4,499)	288,579
Cash and equivalents at beginning of period	659,536	664,035	375,456
Cash and equivalents at end of period	$ 742,849	$ 659,536	$ 664,035

THE COMPANY

THE COMPANY	12 Months Ended
	Jun. 30, 2015
THE COMPANY
THE COMPANY	1. THE COMPANY Royal Gold, Inc. ("Royal Gold", the "Company", "we", "us", or "our"), together with its subsidiaries, is engaged in the business of acquiring and managing precious metals royalties, metal streams, and similar interests. Royalties are non-operating interests in mining projects that provide the right to revenue or metals produced from the project after deducting specified costs, if any. 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Jun. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Summary of Significant Accounting Policies Use of Estimates The preparation of our financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ significantly from those estimates. Our most critical accounting estimates relate to our assumptions regarding future gold, silver, nickel, copper and other metal prices and the estimates of reserves, production and recoveries of third-party mine operators. We rely on reserve estimates reported by the operators on the properties in which we have royalty and stream interests. These estimates and the underlying assumptions affect the potential impairments of long-lived assets and the ability to realize income tax benefits associated with deferred tax assets. These estimates and assumptions also affect the rate at which we recognize revenue or charge depreciation, depletion and amortization to earnings. On an ongoing basis, management evaluates these estimates and assumptions; however, actual amounts could differ from these estimates and assumptions. Differences between estimates and actual amounts could differ significantly and are recorded in the period that the actual amounts are known. Basis of Consolidation The consolidated financial statements include the accounts of Royal Gold, Inc., its wholly-owned subsidiaries and an entity over which control is achieved through means other than voting right (see Note 3). The Company follows the Accounting Standards Codification ("ASC") guidance for identification and reporting for entities over which control is achieved through means other than voting rights. All intercompany accounts, transactions, income and expenses, and profits or losses have been eliminated on consolidation. Cash and Equivalents Cash and equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Cash and equivalents were primarily held in cash deposit accounts as of June 30, 2015 and in United States treasury bills with maturities less than 90 days as of June 30, 2014. Royalty and Stream Interests Royalty and stream interests include acquired royalty and stream interests in production, development and exploration stage properties. The costs of acquired royalty and stream interests are capitalized as tangible assets as such interests do not meet the definition of a financial asset under ASC guidance. Acquisition costs of production stage royalty and stream interests are depleted using the units of production method over the life of the mineral property (as royalty payments are recognized or sales occur under stream interests), which is estimated using proven and probable reserves as provided by the operator. Acquisition costs of royalty and stream interests on development stage mineral properties, which are not yet in production, are not amortized until the property begins production. Acquisition costs of royalty interests on exploration stage mineral properties, where there are no proven and probable reserves, are not amortized. At such time as the associated exploration stage mineral interests are converted to proven and probable reserves, the cost basis is amortized over the remaining life of the mineral property, using proven and probable reserves. The carrying values of exploration stage mineral interests are evaluated for impairment at such time as information becomes available indicating that the costs may not be recoverable from future production. Exploration costs are charged to operations when incurred. Available-for-Sale Securities Investments in securities that management does not have the intent to sell in the near term and that have readily determinable fair values are classified as available-for-sale securities. Unrealized gains and losses on these investments are recorded in accumulated other comprehensive income as a separate component of stockholders' equity, except that declines in market value judged to be other than temporary are recognized in determining net income. When investments are sold, the realized gains and losses on these investments, determined using the specific identification method, are included in determining net income. The Company's policy for determining whether declines in fair value of available-for-sale securities are other than temporary includes a quarterly analysis of the investments and a review by management of all investments for which the cost exceeds the fair value. Any temporary declines in fair value are recorded as a charge to other comprehensive income. This evaluation considers a number of factors including, but not limited to, the length of time and extent to which the fair value has been less than cost, the financial condition and near term prospects of the issuer, and management's ability and intent to hold the securities until fair value recovers. If such impairment is determined by the Company to be other-than-temporary, the investment's cost basis is written down to fair value and recorded in net income during the period the Company determines such impairment to be other-than-temporary. The new cost basis is not changed for subsequent recoveries in fair value. Refer to Note 5 for further discussion on our available-for-sale securities. Asset Impairment We evaluate long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts of an asset or group of assets may not be recoverable. The recoverability of the carrying value of royalty and stream interests in production and development stage mineral properties is evaluated based upon estimated future undiscounted net cash flows from each royalty and stream interest property using estimates of proven and probable reserves and other relevant information received from the operators. We evaluate the recoverability of the carrying value of royalty interests in exploration stage mineral properties in the event of significant decreases in the price of gold, silver, copper, nickel and other metals, and whenever new information regarding the mineral properties is obtained from the operator indicating that production will not likely occur or may be reduced in the future, thus affecting the future recoverability of our royalty interests. Impairments in the carrying value of each property are measured and recorded to the extent that the carrying value in each property exceeds its estimated fair value, which is generally calculated using estimated future discounted cash flows. Estimates of gold, silver, copper, nickel and other metal prices, operators' estimates of proven and probable reserves related to our royalty or streaming properties, and operators' estimates of operating and capital costs are subject to certain risks and uncertainties which may affect the recoverability of our investment in these royalty and stream interests in mineral properties. It is possible that changes could occur to these estimates, which could adversely affect the net cash flows expected to be generated from these royalty and stream interests. Refer to Note 4 for discussion and the results of our impairment assessments for the fiscal years ended June 30, 2015 and 2014. Revenue Revenue is recognized in accordance with the guidance of ASC 605 and based upon amounts contractually due pursuant to the underlying royalty or stream agreement. Specifically, revenue is recognized in accordance with the terms of the underlying royalty or stream agreements subject to (i) the pervasive evidence of the existence of the arrangements; (ii) the risks and rewards having been transferred; (iii) the royalty or stream being fixed or determinable; and (iv) the collectability being reasonably assured. For our streaming agreements, we sell most of the delivered gold within three weeks of receipt and recognize revenue when the metal received is sold. For royalty payments received in-kind, revenue is recorded at the average spot price of gold for the period in which the royalty was earned. Gold Sales Gold received under our metal streaming agreements is sold primarily in the spot market or under average rate gold forward contracts. For our gold sold in the spot market, the sales price is fixed at the delivery date based on the gold spot price, while the sales price for our gold sold under average rate gold forward contracts is determined by the average gold price under the term of the contract, typically 15 consecutive trading days shortly after the receipt and purchase of the gold. Revenue from gold sales is recognized on the date of the settlement, which is also the date that title to the gold passes to the purchaser. Cost of Sales Cost of sales is specific to our streaming agreement for Mount Milligan and is the result of the Company's purchases of gold for a cash payment of the lesser of $435 per ounce, or the prevailing market price of gold when purchased. Production taxes Certain royalty payments are subject to production taxes (or mining proceeds taxes), which are recognized at the time of revenue recognition. Production taxes are not income taxes and are included within the costs and expenses section in the Company's consolidated statements of operations and comprehensive income. Exploration Costs Exploration costs are specific to our joint venture for exploration and advancement of the Tetlin gold project, as discussed further in Note 3. Exploration costs associated with the Tetlin gold project are expensed when incurred. Stock-Based Compensation The Company accounts for stock-based compensation in accordance with the guidance of ASC 718. The Company recognizes all share-based payments to employees, including grants of employee stock options, stock-settled stock appreciation rights ("SSARs"), restricted stock and performance stock, in its financial statements based upon their fair values. Reportable Segments and Geographical Information The Company manages its business under two reportable segments, consisting of the acquisition and management of royalty interests and the acquisition and management of stream interests. Royal Gold's long-lived assets (royalty and stream interests, net) as of June 30, 2015 and 2014 are geographically distributed as shown in the following table: As of June 30, 2015 Royalty interest Stream interest Total royalty and stream interests, net Canada $ $ $ Chile — $ Mexico — $ United States — $ Australia — $ Africa — $ Other $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2014 Royalty interest Stream interest Total royalty and stream interests, net Canada $ $ $ Chile — $ Mexico — $ United States — $ Australia — $ Africa — $ Other — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company's revenue, cost of sales and net revenue by reportable segment for our fiscal year's ended June 30, 2015, 2014 and 2013 is geographically distributed as show in the following table: Fiscal Year Ended June 30, 2015 Revenue Cost of sales Net revenue Royalties: Canada $ $ — $ Chile — Mexico — United States — Australia — Africa — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties $ $ — $ Streams: Canada $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties and streams $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended June 30, 2014 Revenue Cost of sales Net revenue Royalties: Canada $ $ — $ Chile — Mexico — United States — Australia — Africa — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties $ $ — $ Streams: Canada $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties and streams $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended June 30, 2013 Revenue Cost of sales Net revenue Royalties: Canada $ $ — $ Chile — Mexico — United States — Australia — Africa — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income Taxes The Company accounts for income taxes in accordance with the guidance of ASC 740. The Company's annual tax rate is based on income, statutory tax rates in effect and tax planning opportunities available to us in the various jurisdictions in which the Company operates. Significant judgment is required in determining the annual tax expense, current tax assets and liabilities, deferred tax assets and liabilities, and our future taxable income, both as a whole and in various tax jurisdictions, for purposes of assessing our ability to realize future benefit from our deferred tax assets. Actual income taxes could vary from these estimates due to future changes in income tax law, significant changes in the jurisdictions in which we operate or unpredicted results from the final determination of each year's liability by taxing authorities. The Company's deferred income taxes reflect the impact of temporary differences between the reported amounts of assets and liabilities for financial reporting purposes and such amounts measured by tax laws and regulations. In evaluating the realizability of the deferred tax assets, management considers both positive and negative evidence that may exist, such as earnings history, reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies in each tax jurisdiction. A valuation allowance may be established to reduce our deferred tax assets to the amount that is considered more likely than not to be realized through the generation of future taxable income and other tax planning strategies. The Company has asserted the indefinite reinvestment of certain foreign subsidiary earnings as determined by management's judgment about and intentions concerning the future operations of the Company. As a result, the Company does not record a U.S. deferred tax liability for the excess of the book basis over the tax basis of its investments in foreign corporations to the extent that the basis difference results from earnings that meet the indefinite reversal criteria. Refer to Note 11 for further discussion on our assertion. The Company's operations may involve dealing with uncertainties and judgments in the application of complex tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions and resolution of disputes arising from federal, state, and international tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the United States and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due. The Company adjusts these reserves in light of changing facts and circumstances, such as the progress of a tax audit; however, due to the complexity of some of these uncertainties, the ultimate resolution could result in a payment that is materially different from our current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period which they are determined. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. Comprehensive Income In addition to net income, comprehensive income includes changes in equity during a period associated with cumulative unrealized changes in the fair value of marketable securities held for sale, net of tax effects. Earnings per Share Basic earnings per share is computed by dividing net income available to Royal Gold common stockholders by the weighted average number of outstanding common shares for the period, considering the effect of participating securities, and include the outstanding exchangeable shares. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts that may require issuance of common shares were converted. Diluted earnings per share is computed by dividing net income available to common stockholders by the diluted weighted average number of common shares outstanding, including outstanding exchangeable shares, during each fiscal year. Recently Issued Accounting Standards In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") guidance related to debt issuance costs. This update simplifies the presentation of debt issuance costs by requiring debt issuance costs to be presented as a deduction from the corresponding debt liability. The recognition and measurement guidance for debt issuance costs are not affected by the updated guidance. The update is effective for the Company's fiscal year beginning July 1, 2017. We are currently evaluating the impact of this new standard on our consolidated financial statements. In February 2015, ASU guidance was issued related to consolidations. This update affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. This update makes some targeted changes to current consolidation guidance and impacts both the voting and the variable interest consolidation models. In particular, the update will change how companies determine whether limited partnerships or similar entities are variable interest entities ("VIEs"). The update is effective for us in the first quarter of our fiscal year 2016. We are currently evaluating the impact of this new standard on our consolidated financial statements.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Jun. 30, 2015
ACQUISITIONS
ACQUISITIONS	3. ACQUISITIONS Acquisition of Gold Streams on Wassa, Bogoso and Prestea On May 7, 2015, RGLD Gold announced signing a $130 million gold stream transaction with a wholly-owned subsidiary of Golden Star Resources Ltd. (together "Golden Star"), pursuant to which RGLD Gold will advance financing to Golden Star, subject to certain conditions, for development projects at certain mines in Ghana, and in return for which Golden Star will sell and deliver gold to RGLD Gold. Separate from the stream transaction and subject to certain conditions, the Company will provide a $20 million, 4-year term loan to Golden Star and will receive warrants to purchase 5 million shares of Golden Star Resources Ltd. common stock. Closing of the gold stream and term loan transactions occurred on July 28, 2015, when the conditions to closing were satisfied. Pursuant to the stream transaction and subject to certain conditions, RGLD Gold will make $130 million in advance payments to Golden Star in stages, including the $40 million upfront payment made in connection with closing, and the balance on a pro rata basis with spending on the Wassa and Prestea underground projects, which RGLD Gold expects to make in five quarterly payments as follows: (i) $15 million on September 1, 2015, (ii) $30 million on December 1, 2015, and (iii) $15 million on March 1, 2016, June 1, 2016 and September 1, 2016. Golden Star will deliver to RGLD Gold 8.5% of gold produced from the Wassa, Bogoso and Prestea projects, until 185,000 ounces have been delivered, 5.0% until an additional 22,500 have been delivered, and 3.0% thereafter. RGLD Gold will pay Golden Star a cash price equal to 20% of the spot price for each ounce delivered at the time of delivery until 207,500 ounces have been delivered, which cash price shall increase to 30% of the spot price for each ounce delivered thereafter. In a separate transaction, on July 28, 2015, the Company provided a $20 million, four-year term loan to Golden Star, subject to certain conditions. Interest under the loan will be due quarterly at a rate equal to 62.5% of the average daily gold price for the relevant quarter divided by 10,000, but not to exceed 11.5%. The loan will be subject to mandatory prepayments that will range between 25-50% of excess cash flow after the development period for the projects. Golden Star will also grant warrants to the Company to purchase five million shares of Golden Star common stock. The warrants have a term of four years and an exercise price which equals a 30% premium to Golden Star's weighted average share price for the ten-day period ending two days prior to announcement of the transaction. Acquisition of Gold Stream on Euromax's Ilovitza Project On October 20, 2014, RGLD Gold AG ("RGLD Gold"), a wholly owned subsidiary of the Company, entered into a $175.0 million gold stream transaction with Euromax Resources Ltd ("Euromax") that will finance a definitive feasibility study, permitting work, early stage engineering and a significant portion of the construction at Euromax's Ilovitza gold-copper project located in southeast Macedonia. RGLD Gold will make two advance deposit payments to Euromax totaling $15.0 million, which will be used for completion of the definitive feasibility study and permitting of the project, followed by payments aggregating $160 million towards project construction, in each case subject to certain conditions. Payment of the first $7.5 million deposit was completed in March 2015. RGLD Gold's decision to proceed with the second $7.5 million deposit and the construction payments is conditioned upon, among other things, its satisfaction with the progress of definitive feasibility study and environmental evaluations, demonstrated project viability, and, in the case of the construction payments, sufficient project financing and permits to construct and operate the mine. The construction payments would be paid pro-rata with the balance of the project funding. In exchange, Euromax will deliver physical gold equal to 25% of gold produced from the Ilovitza project until 525,000 ounces have been delivered, and 12.5% thereafter (in each case subject to adjustment). RGLD Gold's purchase price per ounce will be 25% of the spot price at the time of delivery. The Ilovitza gold stream acquisition has been accounted for as an asset acquisition. The $7.5 million paid as part of the aggregate pre-production commitment of $175 million, plus direct transaction costs, have been recorded as a development stage stream interest within Royalty and stream interests, net on our consolidated balance sheets. Tetlin Royalty Acquisitions and Peak Gold Joint Venture On September 30, 2014, Royal Gold acquired a 2.0% net smelter return ("NSR") royalty and a 3.0% NSR royalty held by private parties over areas comprising the Tetlin gold project located near Tok, Alaska, for total consideration of $6.0 million. As discussed below, the Tetlin gold project is now held by Peak Gold LLC ("Peak Gold"), a joint venture between subsidiaries of Royal Gold and Contango ORE Inc. The acquisition of the Tetlin royalties has been accounted for as an asset acquisition. The total purchase price of $6.0 million, plus direct transaction costs, has been recorded as an exploration stage royalty interest within Royalty and stream interests, net on our consolidated balance sheets. On January 8, 2015, Royal Gold, through its wholly-owned subsidiary, Royal Alaska, LLC ("Royal Alaska"), and Contango ORE, Inc., through its wholly-owned subsidiary CORE Alaska, LLC (together, "Contango"), entered into a limited liability company agreement for Peak Gold, a joint venture for exploration and advancement of the Tetlin gold project located near Tok, Alaska (the "Tetlin Project"). Contango contributed all of its assets relating to the Tetlin Project to Peak Gold, including a mining lease and certain state of Alaska mining claims. Royal Alaska contributed $5.0 million in cash to Peak Gold. Contango will initially hold a 100% membership interest in Peak Gold. Royal Alaska has the right to obtain up to 40% of the membership interest in Peak Gold by making contributions of up to $30.0 million (including Royal Alaska's initial $5.0 million contribution) in cash to Peak Gold by October 31, 2018. Royal Alaska will act as the manager of Peak Gold. As manager of Peak Gold, Royal Alaska is responsible for managing, directing and controlling the overall operations during the earn-in period, and thereafter, provided Royal Alaska holds at least a 40% interest. Royal Alaska will act as manager unless and until it is unanimously removed or resigns that position in the manner provided in Peak Gold's limited liability company agreement. The Company follows the ASC guidance for identification and reporting of entities for which control is achieved through means other than voting rights. The guidance defines such entities as VIEs. The Company has identified Peak Gold as a VIE, with Royal Alaska as the primary beneficiary, due to the legal structure and certain related factors of the limited liability company agreement for Peak Gold. The Company determined that Peak Gold should be fully consolidated at fair value initially. The fair value of the Company's non-controlling interest is $45.7 million and is based on the underlying value of the mineral property assigned to Peak Gold, which is recorded as an exploration stage property within Royalty and stream interests, net on our consolidated balance sheets. Phoenix Gold Project Stream Acquisition On February 11, 2014, RGLD Gold entered into a $75 million Purchase and Sale Agreement (the "Agreement") for a gold stream transaction with Rubicon Minerals Corporation ("Rubicon"). Pursuant to the Agreement, the $75 million payment deposit from RGLD Gold is to be used by Rubicon to help pay a significant portion of the construction costs of the Phoenix Gold Project located in Ontario, Canada, which is currently in the development stage. Pursuant to the Agreement, the $75 million payment deposit to Rubicon is prepayment of the purchase price for refined gold and is payable in five installments. The first installment of $10 million was made in conjunction with execution of definitive documents on February 11, 2014. The second installment of $20 million was paid on March 20, 2014, while the third, fourth and fifth installments of $15 million each were made during our fiscal year ended June 30, 2015. Upon commencement of production at the Phoenix Gold Project, RGLD Gold will purchase and Rubicon will sell 6.30% of any gold produced from the Phoenix Gold Project until 135,000 ounces have been delivered, and 3.15% thereafter. For each delivery of gold, RGLD Gold will pay a purchase price per ounce of 25% of the spot price of gold at the time of delivery. In the event that RGLD Gold's interests are subordinated to more than $50 million of senior debt, RGLD Gold's per ounce purchase price will be reduced by 5.4% times the amount of the senior debt outstanding and drawn in excess of $50 million, divided by $50 million. The Phoenix Gold Project gold stream acquisition has been accounted for as an asset acquisition. The $75 million payment deposit, plus direct transaction costs, have been recorded as a development stage stream interest within Royalty and stream interests, net on our consolidated balance sheets. Goldrush Royalty Acquisition On January 7, 2014, Royal Gold acquired a 1.0% net revenue royalty on the southern end of Barrick Gold Corporation's ("Barrick") Goldrush deposit in Nevada from a private landowner for total consideration of $8.0 million, of which $1.0 million was paid at closing and $1.0 million was paid in January 2015. The remaining $6.0 million will be paid in six annual installments. Goldrush is located approximately four miles from the Cortez mine. The acquisition has been recorded as an exploration stage royalty interest within Royalty and stream interests, net on our consolidated balance sheets. NVR1 Royalty at Cortez On January 2, 2014, Royal Gold, through a wholly-owned subsidiary, increased its ownership interest in the limited partnership that owns the 1.25% net value royalty ("NVR1") covering certain portions of the Pipeline Complex at Barrick's Cortez gold mine in Nevada. As a result of the transaction, the NVR1 royalty rate attributable to our interest increased from 0.39% to 1.014% on production from all of the lands covered by the NVR1 royalty excluding production from the mining claims comprising the Crossroad deposit (the "Crossroad Claims"), and from zero to 0.618% on production from the Crossroad Claims. Total consideration for the transaction was approximately $11.5 million. El Morro Royalty Acquisition In August 2013, Royal Gold, through a wholly-owned Chilean subsidiary, acquired a 70% interest in a 2.0% NSR royalty on certain portions of the El Morro copper gold project in Chile ("El Morro"), from Xstrata Copper Chile S.A., for $35 million. Goldcorp Inc. holds 70% ownership of the El Morro project and is the operator, with the remaining 30% held by New Gold Inc. The acquisition of the El Morro royalty interest has been accounted for as an asset acquisition. The total purchase price of $35 million, plus direct transaction costs, has been recorded as a development stage royalty interest within Royalty and stream interests, net on our consolidated balance sheets.

ROYALTY AND STREAM INTERESTS

ROYALTY AND STREAM INTERESTS	12 Months Ended
	Jun. 30, 2015
ROYALTY AND STREAM INTERESTS
ROYALTY AND STREAM INTERESTS	4. ROYALTY AND STREAM INTERESTS, NET The following summarizes the Company's royalty and stream interests as of June 30, 2015 and 2014: As of June 30, 2015 (Amounts in thousands): Cost Accumulated Depletion Impairments Net Production stage royalty interests: Andacollo $ $ ) $ — $ Voisey's Bay ) — Peñasquito ) — Mulatos ) — Holt ) — Robinson ) — Cortez ) — Other ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total production stage royalty interests ) ) Production stage stream interests: Mount Milligan ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Production stage royalty and stream interests ) ) Development stage royalty interests: Pascua-Lama — — Other — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total development stage royalty interests — — Development stage stream interests: Phoenix Gold — — Other — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total development stage stream interests — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Development stage royalty and stream interests — ) Exploration stage royalty interests — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalty and stream interests $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2014 (Amounts in thousands): Cost Accumulated Depletion Net Production stage royalty interests: Andacollo $ $ ) $ Voisey's Bay ) Peñasquito ) Mulatos ) Holt ) Robinson ) Cortez ) Other ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total production stage royalty interests ) Production stage stream interests: Mount Milligan ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Production stage royalty and stream interests ) Development stage royalty interests: Pascua-Lama — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total development stage royalty interests — Development stage stream interests: Phoenix Gold — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total development stage stream interests — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Development stage royalty and stream interests — Exploration stage royalty interests — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalty and stream interests $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impairment of royalty and stream interests In accordance with our impairment accounting policy discussed in Note 1, impairments in the carrying value of each royalty or stream interest are measured and recorded to the extent that the carrying value in each royalty or stream interest exceeds its estimated fair value, which is generally calculated using estimated future discounted cash-flows. As part of the Company's regular asset impairment analysis, which included the presence of impairment indicators, the Company recorded impairment charges for the fiscal years ended June 30, 2015, 2014 and 2013, as summarized in the following table: Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) Wolverine (1) $ $ — $ — Other — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impairment of royalty and stream interests $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Included in Other production stage royalty interests in the above royalty and stream interests table. Wolverine The Company owns a 0.00% to 9.445% sliding-scale NSR royalty on all gold and silver produced from the Wolverine underground mine and milling operation located in Yukon Territory, Canada, and operated by Yukon Zinc Corporation ("Yukon Zinc"). As part of the Company's impairment assessment for the three months ended December 31, 2014, the Company was notified of an updated mine plan at Wolverine, which included a significant reduction in reserves and resources when compared to the previous mine plan. A significant reduction in reserves and resources, along with decreases in the long-term metal price assumptions used by the industry, are indicators of impairment. As part of the impairment determination, the fair value for Wolverine was estimated by calculating the net present value of the estimated future cash-flows expected to be generated by the mining of the Wolverine deposits subject to our royalty interest. The estimates of future cash-flows were derived from a life-of-mine model developed by the Company using Yukon Zinc's updated mine plan information. The metal price assumptions used in the Company's model were supported by consensus price estimates obtained from a number of industry analysts. The future cash-flows were discounted using a discount rate which reflects specific market risk factors the Company associates with the Wolverine royalty interest. Following the impairment charge during the three months ended December 31, 2014, the Wolverine royalty interest has a carrying value of $5.3 million as of June 30, 2015. The Company had a royalty receivable of approximately $3.0 million associated with past due royalty payments on the Wolverine interest. As a result of recent financial and operational results experienced by Yukon Zinc and their decision to put the mine on care and maintenance, the Company believes payment of the receivable is uncertain and provided for an allowance against the entire receivable as of June 30, 2015. The expense associated with the allowance is recorded within General and administrative expense on the Company's consolidated statements of operations and comprehensive income for the twelve months ended June 30, 2015. In March 2015, Yukon Zinc filed for, and was granted, creditor protection by the Supreme Court of British Columbia, Canada in a court monitored debtor-in-possession process. Yukon Zinc received court approval to initiate, and as of June 30, 2015, was conducting a sale process. The Company will continue to pursue collection of all past due payments and protection of our royalty interest. The Company did not recognize revenue associated with the Wolverine royalty interest during the three month periods ended June 30, 2015, March 31, 2015, and December 31, 2014. Other As part of the Company's regular asset impairment analysis during the three months ended September 30, 2014, the Company determined that one production stage royalty interest and one exploration stage royalty interest should be written down to zero for a total impairment of $1.8 million. As part of the termination of the Tulsequah Chief gold and silver stream, as discussed below, the Company wrote-off approximately $0.6 million of direct acquisition costs during the three months ended December 31, 2014. Termination of the Tulsequah Chief Gold and Silver Stream On December 22, 2014, RGLD Gold terminated the Amended and Restated Gold and Silver Purchase and Sale Agreement (the "Tulsequah Agreement"), between RGLD Gold, the Company, Chieftain Metals Inc. and Chieftain Metals Corp. (together, "Chieftain"), relating to Chieftain's Tulsequah Chief mining project located in British Columbia, Canada. Pursuant to the terms of the Agreement, Chieftain repaid RGLD Gold's original $10.0 million advance payment. As a result of the termination of the Tulsequah Agreement and repayment of our investment, the carrying value of the Tulsequah Chief gold and silver stream, which included our $10.0 million investment and approximately $0.6 million of direct acquisition costs, was reduced to zero during the three months ended December 31, 2014.

AVAILABLE-FOR-SALE SECURITIES

AVAILABLE-FOR-SALE SECURITIES	12 Months Ended
	Jun. 30, 2015
AVAILABLE-FOR-SALE SECURITIES
AVAILABLE-FOR-SALE SECURITIES	5. AVAILABLE-FOR-SALE SECURITIES The Company's available-for-sale securities as of June 30, 2015 and 2014 consist of the following: As of June 30, 2015 Unrealized Cost Basis Gain Loss Fair Value (Amounts in thousands) Non-current: Seabridge $ — ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ — $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2014 Unrealized Cost Basis Gain Loss Fair Value (Amounts in thousands) Non-current: Seabridge $ — — $ Other — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ — $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Our available-for-sale securities consists of an investment in Seabridge Gold, Inc. common stock, acquired in June 2011. Based on our impairment analysis during the fiscal year ended June 30, 2014, the Company determined that the impairment of its investment in Seabridge common stock is other-than-temporary. As a result of the impairment, the Company recognized a loss on available-for-sale securities of $4.5 million during the fourth quarter of our fiscal year ended June 30, 2014. The Company also recognized a loss on available-for-sale securities related to our investment in Seabridge common stock of $12.1 million during the third quarter of our fiscal year ended June 30, 2013. The recognized losses have been reclassified out of comprehensive income in the respective periods. The Company did not recognize an impairment on its available-for-sale securities during the fiscal year ended June 30, 2015. The Company will continue to evaluate its investment in Seabridge common stock considering additional facts and circumstances as they arise, including, but not limited to, the progress of development of Seabridge's KSM project.

DEBT

DEBT	12 Months Ended
	Jun. 30, 2015
DEBT
DEBT	6. DEBT The Company's debt as of June 30, 2015 and 2014 consists of the following: As of June 30, 2015 As of June 30, 2014 Non-current Non-current (Amounts in thousands) Convertible notes due 2019, net $ $ ​ ​ ​ ​ ​ ​ ​ ​ Total debt $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Convertible Senior Notes Due 2019 In June 2012, the Company completed an offering of $370 million aggregate principal amount of 2.875% convertible senior notes due 2019 ("2019 Notes"). The 2019 Notes bear interest at the rate of 2.875% per annum, and the Company is required to make semi-annual interest payments on the outstanding principal balance of the 2019 Notes on June 15 and December 15 of each year, beginning December 15, 2012. The 2019 Notes mature on June 15, 2019. Interest expense recognized on the 2019 Notes for the fiscal years ended June 30, 2015, 2014 and 2013 was approximately $22.1 million, $21.4 million and $20.7 million, respectively, and included the contractual coupon interest, the accretion of the debt discount and amortization of the debt issuance costs. During the fiscal years ended June 30, 2015 and 2014, the Company made $10.6 million in interest payments on our 2019 Notes. Revolving credit facility The Company maintains a $650 million revolving credit facility. Borrowings under the revolving credit facility bear interest at a floating rate of LIBOR plus a margin of 1.25% to 3.0%, based on Royal Gold's leverage ratio. As of June 30, 2015, the interest rate on borrowings under the revolving credit facility was LIBOR plus 1.25%. Royal Gold may repay any borrowings under the revolving credit facility at any time without premium or penalty. As of June 30, 2015, and during our fiscal year 2015, Royal Gold had no amounts outstanding under the revolving credit facility. At June 30, 2015, the Company was in compliance with each financial covenant (leverage ratio and consolidated net worth, as defined therein). On April 29, 2015, the Company entered into Amendment No. 1 (the "Amendment") to the Sixth Amended and Restated Revolving Credit Agreement, dated as of January 29, 2014, by and among the Company, certain subsidiaries of the Company as guarantors, certain lenders from time to time party thereto, and HSBC Bank USA, National Association, as administrative agent for the lenders. Pursuant to the Amendment, the maximum availability under the revolving credit facility increased from $450 million to $650 million and the $150 million accordion feature was eliminated.

REVENUE

REVENUE	12 Months Ended
	Jun. 30, 2015
REVENUE
REVENUE	7. REVENUE Revenue is comprised of the following: Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) Royalty interests $ $ $ Stream interests — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Jun. 30, 2015
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	8. STOCK-BASED COMPENSATION In November 2004, the Company adopted the Omnibus Long-Term Incentive Plan ("2004 Plan"). Under the 2004 Plan, 2,600,000 shares of common stock have been authorized for future grants to officers, directors, key employees and other persons. The 2004 Plan provides for the grant of stock options, unrestricted stock, restricted stock, dividend equivalent rights, SSARs and cash awards. Any of these awards may, but need not, be made as performance incentives. Stock options granted under the 2004 Plan may be non-qualified stock options or incentive stock options. The Company recognized stock-based compensation expense as follows: For the Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) Stock options $ $ $ Stock appreciation rights Restricted stock Performance stock ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total stock-based compensation expense $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation expense is included within general and administrative expense in the consolidated statements of operations and comprehensive income. Stock Options and Stock Appreciation Rights Stock option and SSARs awards are granted with an exercise price equal to the closing market price of the Company's stock at the date of grant. Stock option and SSARs awards granted to officers, key employees and other persons vest based on one to three years of continuous service. Stock option and SSARs awards have 10 year contractual terms. To determine stock-based compensation expense for stock options and SSARs, the fair value of each stock option and SSAR is estimated on the date of grant using the Black-Scholes-Merton ("Black-Scholes") option pricing model for all periods presented. The Black-Scholes model requires key assumptions in order to determine fair value. Those key assumptions during the fiscal year 2015, 2014 and 2013 grants are noted in the following table: Stock Options SSARs 2015 2014 2013 2015 2014 2013 Weighted-average expected volatility % % % % % % Weighted-average expected life in years Weighted-average dividend yield % % % % % % Weighted-average risk free interest rate % % % % % % The Company's expected volatility is based on the historical volatility of the Company's stock over the expected option term. The Company's expected option term is determined by historical exercise patterns along with other known employee or company information at the time of grant. The risk free interest rate is based on the zero-coupon U.S. Treasury bond at the time of grant with a term approximate to the expected option term. Stock Options A summary of stock option activity under the 2004 Plan for the fiscal year ended June 30, 2015, is presented below. Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (in thousands) Outstanding at July 1, 2014 $ Granted $ Exercised ) $ Forfeited ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at June 30, 2015 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at June 30, 2015 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The weighted-average grant date fair value of options granted during the fiscal years ended June 30, 2015, 2014 and 2013, was $24.86, $22.78 and $26.76, respectively. The total intrinsic value of options exercised during the fiscal years ended June 30, 2015, 2014 and 2013, were $0.7 million, $1.1 million, and $4.1 million, respectively. As of June 30, 2015, there was approximately $0.5 million of total unrecognized stock-based compensation expense related to non-vested stock options granted under the 2004 Plan, which is expected to be recognized over a weighted-average period of 1.8 years. SSARs A summary of SSARs activity under the 2004 Plan for the fiscal year ended June 30, 2015, is presented below. Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (in thousands) Outstanding at July 1, 2014 $ Granted $ Exercised ) $ Forfeited ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at June 30, 2015 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at June 30, 2015 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The weighted-average grant date fair value of SSARs granted during the fiscal years ended June 30, 2015, 2014 and 2013 was $24.42, $21.15 and $29.78, respectively. The total intrinsic value of SSARs exercised during the fiscal years ended June 30, 2015, 2014 and 2013, were $0.2 million, $0.1 million, and $3.5 million, respectively. As of June 30, 2015, there was approximately $1.9 million of total unrecognized stock-based compensation expense related to non-vested SSARs granted under the 2004 Plan, which is expected to be recognized over a weighted-average period of 1.8 years. Other Stock-based Compensation Performance Shares During fiscal 2015, officers and certain employees were granted 49,725 shares of restricted common stock that can be earned only if a single pre-defined performance goal is met within five years of the date of grant ("Performance Shares"). If the performance goal is not earned by the end of this five year period, the Performance Shares will be forfeited. Vesting of Performance Shares is subject to certain performance measures being met and can be based on an interim earn out of 25%, 50%, 75% or 100%. For Performance Shares granted during fiscal year 2015, there is a single pre-defined performance goal, which is growth of adjusted free cash flow on a per share, trailing twelve month basis. The Company measures the fair value of the Performance Shares based upon the market price of our common stock as of the date of grant. In accordance with ASC 718, the measurement date for the Performance Shares will be determined at such time that the performance goals are attained or that it is probable they will be attained. At such time that it is probable that a performance condition will be achieved, compensation expense will be measured by the number of shares that will ultimately be earned based on the grant date market price of our common stock. For shares that were previously estimated to be probable of vesting and are no longer deemed to be probable of vesting, compensation expense is reversed during the period in which it is determined they are no longer probable of vesting. Interim recognition of compensation expense will be made at such time as management can reasonably estimate the number of shares that will be earned. A summary of the status of the Company's non-vested Performance Shares for the fiscal year ended June 30, 2015, is presented below: Number of Shares Weighted- Average Grant Date Fair Value Non-vested at July 1, 2014 $ Granted $ Vested — $ — Forfeited ) $ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at June 30, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2015, total unrecognized stock-based compensation expense related to Performance Shares was approximately $1.3 million, which is expected to be recognized over the average remaining vesting period of 2.1 years. Restricted Stock As defined in the 2004 Plan, officers, non-executive directors and certain employees may be granted shares of restricted stock that vest on continued service alone ("Restricted Stock"). During fiscal 2015, officers and certain employees were granted 42,725 shares of Restricted Stock. Restricted Stock awards granted to officers and certain employees vest over three years beginning after a two-year holding period from the date of grant with one-third of the shares vesting in years three, four and five, respectively. Also during fiscal year 2015, our non-executive directors were granted 12,864 shares of Restricted Stock. The non-executive directors' shares of Restricted Stock vest 50% immediately and 50% one year after the date of grant. Shares of Restricted Stock represent issued and outstanding shares of common stock, with dividend and voting rights. The Company measures the fair value of the Restricted Stock based upon the market price of our common stock as of the date of grant. Restricted Stock is amortized over the applicable vesting period using the straight-line method. Unvested shares of Restricted Stock are subject to forfeiture upon termination of employment or service with the Company. A summary of the status of the Company's non-vested Restricted Stock for the fiscal year ended June 30, 2015, is presented below: Number of Shares Weighted- Average Grant Date Fair Value Non-vested at July 1, 2014 $ Granted $ Vested ) $ Forfeited ) $ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at June 30, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2015, total unrecognized stock-based compensation expense related to Restricted Stock was approximately $5.2 million, which is expected to be recognized over the weighted-average vesting period of 3.2 years.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Jun. 30, 2015
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	9. STOCKHOLDERS' EQUITY Preferred Stock The Company has 10,000,000 authorized and unissued shares of $.01 par value Preferred Stock as of June 30, 2015 and 2014. Common Stock Issuances Fiscal Year 2015 During the fiscal year ended June 30, 2015, options to purchase 20,488 shares were exercised, resulting in proceeds of approximately $0.8 million. Fiscal Year 2014 During the fiscal year ended June 30, 2014, options to purchase 34,495 shares were exercised, resulting in proceeds of approximately $1.1 million. Exchangeable Shares In connection with the acquisition of International Royalty Corporation ("IRC") in February 2010, certain holders of IRC common shares received exchangeable shares of RG Exchangeco Inc. for each share of IRC common stock held. The exchangeable shares were convertible at any time, at the option of the holder, into shares of Royal Gold common stock on a one-for-one basis, and entitled holders to dividends and other rights economically equivalent to holders of Royal Gold common stock. RG Exchangeco Inc. established June 30, 2015 as the redemption date for any remaining exchangeable shares that were outstanding on such date, and any such exchangeable shares were acquired on that date and exchanged for shares of Royal Gold common stock on a one-for-one basis. Stockholders' Rights Plan On September 10, 2007, the Company entered into the First Amended and Restated Rights Agreement, dated September 10, 2007 (the "Rights Agreement"). The Rights Agreement expires on September 10, 2017. The Rights Agreement was approved by the Company's board of directors (the "Board"). The Rights Agreement is intended to deter coercive or abusive tender offers and market accumulations. The Rights Agreement is designed to encourage an acquirer to negotiate with the Board and to enhance the Board's ability to act in the best interests of all the Company's stockholders. Under the Rights Agreement, each stockholder of the Company holds one preferred stock purchase right (a "Right") for each share of Company common stock held. The Rights generally become exercisable only in the event that an acquiring party accumulates 15 percent or more of the Company's outstanding shares of common stock. If this were to occur, subject to certain exceptions, each Right (except for the Rights held by the acquiring party) would allow its holders to purchase one one-thousandth of a newly issued share of Series A junior participating preferred stock of Royal Gold or the Company's common stock with a value equal to twice the exercise price of the Right, initially set at $175 under the terms and conditions set forth in the Rights Agreement.

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	12 Months Ended
	Jun. 30, 2015
EARNINGS PER SHARE ("EPS")
EARNINGS PER SHARE ("EPS")	10. EARNINGS PER SHARE ("EPS") Basic earnings per common share were computed using the weighted average number of shares of common stock outstanding during the period, considering the effect of participating securities. Unvested stock-based compensation awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and are included in the computation of earnings per share pursuant to the two-class method. The Company's unvested restricted stock awards contain non-forfeitable dividend rights and participate equally with common stock with respect to dividends issued or declared. The Company's unexercised stock options, unexercised SSARs and unvested performance stock do not contain rights to dividends. Under the two-class method, the earnings used to determine basic earnings per common share are reduced by an amount allocated to participating securities. Use of the two-class method has an immaterial impact on the calculation of basic and diluted earnings per common share. The following table summarizes the effects of dilutive securities on diluted EPS for the period: Fiscal Years Ended June 30, 2015 2014 2013 (in thousands, except per share data) Net income available to Royal Gold common stockholders $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares for basic EPS Effect of other dilutive securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares for diluted EPS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per share $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The calculation of weighted average shares includes all of our outstanding stock: common stock and exchangeable shares. As mentioned in Note 9, the Exchangeable shares were all redeemed for our common stock as of June 30, 2015. The Company intends to settle the principal amount of the 2019 Notes in cash. As a result, there will be no impact to diluted earnings per share unless the share price of the Company's common stock exceeds the conversion price of $105.31.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2015
INCOME TAXES
INCOME TAXES	11. INCOME TAXES For financial reporting purposes, Income before income taxes includes the following components: Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) United States $ $ $ Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company's Income tax expense consisted of: Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) Current: Federal $ $ ) $ State ) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred and others: Federal $ ) $ ) $ ) State ) ) ) Foreign ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total income tax expense $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The provision for income taxes for the fiscal years ended June 30, 2015, 2014 and 2013, differs from the amount of income tax determined by applying the applicable United States statutory federal income tax rate to pre-tax income (net of non-controlling interest in income of consolidated subsidiary and loss from equity investment) from operations as a result of the following differences: Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) Total expense computed by applying federal rates $ $ $ State and provincial income taxes, net of federal benefit Excess depletion ) ) ) Estimates for uncertain tax positions ) Statutory tax attributable to non-controlling interest ) ) ) Effect of foreign earnings Effect of foreign earnings indefinitely reinvested ) ) — Effect of recognized loss on available-for-sale securities — Canadian rate adjustment — — Chilean tax reform ) — — Unrealized foreign exchange gains ) ) Changes in estimates and corrected errors of prior year tax ) ) Other ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The effective tax rate includes the impact of certain undistributed foreign subsidiary earnings for which we have not provided U.S. taxes because we plan to reinvest such earnings indefinitely outside the United States. The Company has the ability and intent to indefinitely reinvest these foreign earnings based on revenue and cash projections of our other investments, current cash on hand, and availability under our revolving credit facility. No deferred tax has been provided on the difference between the tax basis in the stock of the consolidated subsidiary and the amount of the subsidiary's net equity determined for financial reporting purposes. During the quarter ended September 30, 2013 as a result of continued review of the June 30, 2012 tax return and financial statement impacts of the return results, the Company recorded a $1.7 million income tax benefit resulting from an identified error. Additionally, during the quarter ended June 30, 2014, the Company recorded a $2.6 million income tax expense as a result of continued review of prior year's tax accounts. In accordance with applicable U.S. GAAP, management quantitatively and qualitatively evaluated the materiality of these errors and determined them to be immaterial to the fiscal year 2014 or prior year consolidated financial statements. The tax effects of temporary differences and carryforwards, which give rise to our deferred tax assets and liabilities at June 30, 2015 and 2014, are as follows: 2015 2014 (Amounts in thousands) Deferred tax assets: Stock-based compensation $ $ Net operating losses Other ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax assets Valuation allowance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax assets $ $ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: Mineral property basis $ ) $ ) Unrealized foreign exchange gains ) 2019 Notes ) ) Other ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax liabilities ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total net deferred taxes $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company reviews the measurement of its deferred tax assets at each balance sheet date. All available evidence, both positive and negative, is considered in determining whether, based upon the weight of the evidence, it is more likely than not that some portion or all of the deferred tax asset will not be realized. As of June 30, 2015 and 2014, the Company had $4.3 million and $4.9 million of valuation allowances recorded, respectively. The valuation allowance remaining at June 30, 2015 is primarily attributable to deferred tax asset generated by the recognized loss on available-for-sale securities and the tax basis difference as a result of unrealized losses on foreign exchange. At June 30, 2015 and 2014, the Company had $55 million and $77 million of net operating loss carry forwards, respectively. The decrease in the net operating loss carry forwards is attributable to utilization of net operating losses in non-U.S. subsidiaries. The majority of the tax loss carry forwards are in jurisdictions that allow a twenty year carry forward period. As a result, these losses do not begin to expire until the 2028 tax year, and the Company anticipates the losses will be fully utilized. As of June 30, 2015 and 2014, the Company had $15.1 million and $13.7 million of unrecognized tax benefits, respectively. If recognized, these unrecognized tax benefits would positively impact the Company's effective income tax rate. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows: 2015 2014 2013 (Amounts in thousands) Total gross unrecognized tax benefits at beginning of year $ $ $ Additions / Reductions for tax positions of current year ) Reductions due to settlements with taxing authorities ) ) ) Reductions due to lapse of statute of limitations — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total amount of gross unrecognized tax benefits at end of year $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. Federal, state and local, and non-U.S. income tax examinations by tax authorities for fiscal years before 2010. As a result of (i) statutes of limitation that will begin to expire within the next 12 months in various jurisdictions, (ii) possible settlements of audit-related issues with taxing authorities in various jurisdictions with respect to which none of the issues are individually significant, and (iii) additional accrual of exposure and interest on existing items, the Company believes that it is reasonably possible that the total amount of its net unrecognized income tax benefits will not decrease in the next 12 months. The Company's continuing practice is to recognize interest and/or penalties related to unrecognized tax benefits as part of its income tax expense. At June 30, 2015 and 2014, the amount of accrued income-tax-related interest and penalties was $4.6 million and $5.4 million, respectively.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	Jun. 30, 2015
SUPPLEMENTAL CASH FLOW INFORMATION
SUPPLEMENTAL CASH FLOW INFORMATION	12. SUPPLEMENTAL CASH FLOW INFORMATION The Company's supplemental cash flow information for the fiscal years ending June 30, 2015, 2014 and 2013 is as follows: 2015 2014 2013 (Amounts in thousands) Cash paid during the period for: Interest $ $ $ Income taxes, net of refunds $ $ $ Non-cash investing and financing activities: Dividends declared $ $ $

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Jun. 30, 2015
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	13. FAIR VALUE MEASUREMENTS ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under ASC 820 are described below: Level 1: Quoted prices for identical instruments in active markets; Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3: Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The following table sets forth the Company's financial assets measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. At June 30, 2015 Fair Value Carrying Amount Total Level 1 Level 2 Level 3 Assets (In thousands): Marketable equity securities (1) $ $ $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities (In thousands): Debt (2) $ $ $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities $ $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Included in Available for sale securities in the Company's consolidated balance sheets. (2) Included in the carrying amount is the equity component of our 2019 Notes in the amount of $77 million, which is included within Additional paid-in capital in the Company's consolidated balance sheets. The Company's marketable equity securities classified within Level 1 of the fair value hierarchy are valued using quoted market prices in active markets. The fair value of the Level 1 marketable equity securities is calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company. The Company's debt classified within Level 1 of the fair value hierarchy is valued using quoted prices in an active market. As of June 30, 2015, the Company also had assets that, under certain conditions, are subject to measurement at fair value on a non-recurring basis like those associated with royalty and stream interests, intangible assets and other long-lived assets. For these assets, measurement at fair value in periods subsequent to their initial recognition is applicable if any of these assets are determined to be impaired. If recognition of these assets at their fair value becomes necessary, such measurements will be determined utilizing Level 3 inputs. Refer to Note 4 for discussion of inputs used to develop fair value for those royalty interests that were determined to be impaired during the twelve months ended June 30, 2015.

MAJOR SOURCES OF REVENUE

MAJOR SOURCES OF REVENUE	12 Months Ended
	Jun. 30, 2015
MAJOR SOURCES OF REVENUE
MAJOR SOURCES OF REVENUE	14. MAJOR SOURCES OF REVENUE Operators that contributed greater than 10% of the Company's total revenue for any of fiscal years 2015, 2014 or 2013 were as follows (revenue amounts in thousands): Fiscal Year 2015 Fiscal Year 2014 Fiscal Year 2013 Operator Revenue Percentage of total revenue Revenue Percentage of total revenue Revenue Percentage of total revenue Thompson Creek $ % $ % N/A N/A Teck % % $ % Goldcorp, Inc. % % % Vale Newfoundland & Labrador Limited % % %

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jun. 30, 2015
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	15. COMMITMENTS AND CONTINGENCIES Ilovitza Gold Stream Acquisition As of June 30, 2015, the Company has a remaining commitment, subject to certain conditions, of $167.5 million as part of its Ilovitza gold stream acquisition in October 2014 (Note 3). Phoenix Gold Project Stream Acquisition The Company's final commitment payment of $12.8 million as part of its Phoenix Gold Project stream acquisition was made in February 2015. The Company has no remaining commitment payments as part of the Phoenix Gold Project stream. Voisey's Bay The Company indirectly owns a royalty on the Voisey's Bay mine in Newfoundland and Labrador owned by Vale Newfoundland & Labrador Limited ("VNL"). The royalty is directly owned by the Labrador Nickel Royalty Limited Partnership ("LNRLP"), in which the Company's wholly-owned indirect subsidiary, Canadian Minerals Partnership, is the general partner and 89.99% owner. The remaining interests in LNRLP are owned by Altius Investments Ltd. (10%), a company unrelated to Royal Gold, and the Company's wholly-owned indirect subsidiary, Voisey's Bay Holding Corporation (0.01%). On December 5, 2014, LNRLP filed amendments to its October 16, 2009 Statement of Claim in the Supreme Court of Newfoundland and Labrador Trial Division against Vale Inco Limited, now known as Vale Canada Limited ("Vale Canada") and its wholly-owned subsidiaries, Vale Inco Atlantic Sales Limited and VNL, related to calculation of the NSR on the sale of concentrates, including nickel concentrates, from the Voisey's Bay mine. LNRLP asserts that the defendants have incorrectly calculated the NSR since production at Voisey's Bay began in late 2005, have indicated an intention to calculate the NSR in a manner LNRLP believes will violate the royalty agreement when Voisey's Bay concentrates are processed at Vale's new Long Harbour processing facility, and have breached their contractual duties of good faith and honest performance in several ways. LNRLP requests an order in respect of the correct calculation of future payments, and damages for non-payment and underpayment of past royalties to the date of the claim, together with additional damages until the date of trial, interest, costs and other damages. The litigation is in the discovery phase.

QUARTERLY RESULTS OF OPERATIONS

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	12 Months Ended
	Jun. 30, 2015
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	16. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The following is a summary of selected quarterly financial information (unaudited). Some amounts in the below table may not sum-up in total as a result of rounding. Revenue Operating income (loss) Net income (loss) attributable to Royal Gold stockholders Basic earnings (loss) per share Diluted earnings (loss) per share (Amounts in thousands except per share data) Fiscal year 2015 quarter-ended: September 30 $ $ $ $ $ December 31 ) ) ) ) March 31 June 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Amounts in thousands except per share data) Fiscal year 2014 quarter-ended: September 30 $ $ $ $ $ December 31 March 31 June 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2015
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	17. SUBSEQUENT EVENTS Acquisition of Gold and Silver Stream at Pueblo Viejo On August 5 , 2015, RGLD Gold, a wholly-owned subsidiary of the Company, entered into a Precious Metals Purchase and Sale Agreement with Barrick and its wholly-owned subsidiary, BGC Holdings Ltd. ("BGC") for a percentage of the gold and silver production attributable to Barrick's 60% interest in the Pueblo Viejo mine located in the Dominican Republic. Pursuant to the Precious Metals Purchase and Sale Agreement, RGLD Gold will make one advance payment of $610 million to BGC at closing of the transaction, which remains subject to satisfaction of certain conditions precedent. Closing and funding of the transaction is anticipated within 90 days. BGC will deliver gold to RGLD Gold in amounts equal to 7.50% of Barrick's interest in the gold produced at the Pueblo Viejo mine from July 1, 2015 until 990,000 ounces of gold have been delivered, and 3.75% of Barrick's interest in gold produced thereafter. RGLD Gold will pay BGC 30% of the spot price per ounce of gold delivered until 550,000 ounces of gold have been delivered, and 60% of the spot price per ounce delivered thereafter. BGC will deliver silver to RGLD Gold in amounts equal to 75% of Barrick's interest in the silver produced at the Pueblo Viejo mine beginning on January 1, 2016 until 50.00 million ounces of silver have been delivered, and 37.50% of Barrick's interest in silver produced thereafter. RGLD Gold will pay BGC 30% of the spot price per ounce of silver delivered until 23.10 million ounces of silver have been delivered, and 60% of the spot price per ounce of silver delivered thereafter. Acquisition of Gold and Silver Stream at Rainy River On July 20, 2015, RGLD Gold entered into a $175 million Purchase and Sale Agreement with New Gold, Inc. ("New Gold"), for a percentage of the gold and silver production from the Rainy River Project located in Ontario, Canada ("Rainy River"). Pursuant to the Purchase and Sale Agreement, RGLD Gold will make two advance payments to New Gold, consisting of $100 million, which was paid at closing on July 20, 2015, and $75 million once capital spending at Rainy River is 60% complete (currently expected by mid-calendar 2016). Also under the Purchase and Sale Agreement, New Gold will deliver to RGLD Gold 6.50% of the gold produced at Rainy River until 230,000 gold ounces have been delivered, and 3.25% thereafter. New Gold also will deliver 60% of the silver produced at Rainy River until 3.10 million silver ounces have been delivered, and 30% thereafter. RGLD Gold will pay New Gold 25% of the spot price per ounce of gold and silver at the time of delivery. Acquisition of an Additional Gold Royalty Interest at Pascua-Lama On July 10, 2015, the Company entered into an assignment of rights agreement with a private Chilean citizen whereby Royal Gold acquired an additional 0.22% NSR sliding-scale royalty on the Pascua-Lama project, which is owned and operated by Barrick and located on the border between Argentina and Chile. The Company paid $8.0 million for the additional interest at closing and will pay an additional $2.0 million if the project comes into production in calendar 2018 or an additional $1.0 million if the project enters production in calendar 2019. Upon the July 10, 2015 closing, Royal Gold's total gold NSR royalty interest in the Pascua-Lama project increased to 5.45%, at gold prices above $800 per ounce. Please refer to Item 2, Properties, for further discussion on our interest at Pascua-Lama. Acquisition of Gold Stream at Carmen de Andacollo On July 9, 2015, RGLD Gold entered into a Long Term Offtake Agreement (the "Andacollo Stream Agreement") with Compañía Minera Teck Carmen de Andacollo ("CMCA"), a 90% owned subsidiary of Teck Resources Limited ("Teck"). Pursuant to the Andacollo Stream Agreement, CMCA will sell and deliver to RGLD Gold 100% of payable gold from the Carmen de Andacollo copper-gold mine until 900,000 ounces have been delivered, and 50% thereafter, subject to a fixed payable percentage of 89%. RGLD Gold made a $525 million advance payment in cash to CMCA upon entry into the Andacollo Stream Agreement, and RGLD Gold will also pay CMCA 15% of the monthly average gold price for the month preceding the delivery date for all gold purchased under the Andacollo Stream Agreement. The transaction will encompass CMCA's presently owned mining concessions on the Carmen de Andacollo mine, as well as any other mining concessions presently owned or acquired by CMCA or any of its affiliates within a 1.5 kilometer area of interest, and certain other mining concessions that CMCA or its affiliates may acquire. The Andacollo Stream Agreement is effective July 1, 2015, and applies to all final settlements of gold received on or after that date. Deliveries to RGLD Gold will be made monthly, and RGLD Gold expects to begin receiving gold deliveries in its first fiscal quarter of 2016, ending September 30, 2015. Termination of Royalty Interest at Carmen de Andacollo On July 9, 2015, Royal Gold Chile Limitada ("RG Chile"), a wholly owned subsidiary of the Company, entered into a Royalty Termination Agreement with CMCA. The Royalty Termination Agreement terminated an amended Royalty Agreement originally dated January 12, 2010, which provided RG Chile with a royalty equivalent to 75% of the gold produced from the sulfide portion of the Carmen de Andacollo mine until 910,000 payable ounces have been produced, and 50% of the gold produced thereafter. Approximately 259,000 ounces of payable gold subject to the royalty were produced through June 30, 2015, resulting in approximately 651,000 payable ounces remaining as of that date, before the step down to the 50% royalty rate. The Andacollo Stream Agreement on Carmen de Andacollo is separate and distinct from the former royalty of RG Chile. CMCA paid total consideration of $345 million to RG Chile in connection with the Royalty Termination Agreement. The transaction will be taxable in Chile and the United States, with net proceeds estimated at approximately $300 million. RG Chile will receive payment for the royalty through June 30, 2015, the economic effective date of the termination. In addition to the $345 million termination payment, a post-closing final royalty payment of approximately $9.7 million was received in July 2015 to finalize all outstanding shipments for which final settlements had not been received as of July 1, 2015.

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Policies)	12 Months Ended
	Jun. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
Use of Estimates	Use of Estimates The preparation of our financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ significantly from those estimates. Our most critical accounting estimates relate to our assumptions regarding future gold, silver, nickel, copper and other metal prices and the estimates of reserves, production and recoveries of third-party mine operators. We rely on reserve estimates reported by the operators on the properties in which we have royalty and stream interests. These estimates and the underlying assumptions affect the potential impairments of long-lived assets and the ability to realize income tax benefits associated with deferred tax assets. These estimates and assumptions also affect the rate at which we recognize revenue or charge depreciation, depletion and amortization to earnings. On an ongoing basis, management evaluates these estimates and assumptions; however, actual amounts could differ from these estimates and assumptions. Differences between estimates and actual amounts could differ significantly and are recorded in the period that the actual amounts are known.
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of Royal Gold, Inc., its wholly-owned subsidiaries and an entity over which control is achieved through means other than voting right (see Note 3). The Company follows the Accounting Standards Codification ("ASC") guidance for identification and reporting for entities over which control is achieved through means other than voting rights. All intercompany accounts, transactions, income and expenses, and profits or losses have been eliminated on consolidation.
Cash and Equivalents	Cash and Equivalents Cash and equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Cash and equivalents were primarily held in cash deposit accounts as of June 30, 2015 and in United States treasury bills with maturities less than 90 days as of June 30, 2014.
Royalty and Stream Interests	Royalty and Stream Interests Royalty and stream interests include acquired royalty and stream interests in production, development and exploration stage properties. The costs of acquired royalty and stream interests are capitalized as tangible assets as such interests do not meet the definition of a financial asset under ASC guidance. Acquisition costs of production stage royalty and stream interests are depleted using the units of production method over the life of the mineral property (as royalty payments are recognized or sales occur under stream interests), which is estimated using proven and probable reserves as provided by the operator. Acquisition costs of royalty and stream interests on development stage mineral properties, which are not yet in production, are not amortized until the property begins production. Acquisition costs of royalty interests on exploration stage mineral properties, where there are no proven and probable reserves, are not amortized. At such time as the associated exploration stage mineral interests are converted to proven and probable reserves, the cost basis is amortized over the remaining life of the mineral property, using proven and probable reserves. The carrying values of exploration stage mineral interests are evaluated for impairment at such time as information becomes available indicating that the costs may not be recoverable from future production. Exploration costs are charged to operations when incurred.
Available-for-Sale Securities	Available-for-Sale Securities Investments in securities that management does not have the intent to sell in the near term and that have readily determinable fair values are classified as available-for-sale securities. Unrealized gains and losses on these investments are recorded in accumulated other comprehensive income as a separate component of stockholders' equity, except that declines in market value judged to be other than temporary are recognized in determining net income. When investments are sold, the realized gains and losses on these investments, determined using the specific identification method, are included in determining net income. The Company's policy for determining whether declines in fair value of available-for-sale securities are other than temporary includes a quarterly analysis of the investments and a review by management of all investments for which the cost exceeds the fair value. Any temporary declines in fair value are recorded as a charge to other comprehensive income. This evaluation considers a number of factors including, but not limited to, the length of time and extent to which the fair value has been less than cost, the financial condition and near term prospects of the issuer, and management's ability and intent to hold the securities until fair value recovers. If such impairment is determined by the Company to be other-than-temporary, the investment's cost basis is written down to fair value and recorded in net income during the period the Company determines such impairment to be other-than-temporary. The new cost basis is not changed for subsequent recoveries in fair value. Refer to Note 5 for further discussion on our available-for-sale securities.
Asset Impairment	Asset Impairment We evaluate long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts of an asset or group of assets may not be recoverable. The recoverability of the carrying value of royalty and stream interests in production and development stage mineral properties is evaluated based upon estimated future undiscounted net cash flows from each royalty and stream interest property using estimates of proven and probable reserves and other relevant information received from the operators. We evaluate the recoverability of the carrying value of royalty interests in exploration stage mineral properties in the event of significant decreases in the price of gold, silver, copper, nickel and other metals, and whenever new information regarding the mineral properties is obtained from the operator indicating that production will not likely occur or may be reduced in the future, thus affecting the future recoverability of our royalty interests. Impairments in the carrying value of each property are measured and recorded to the extent that the carrying value in each property exceeds its estimated fair value, which is generally calculated using estimated future discounted cash flows. Estimates of gold, silver, copper, nickel and other metal prices, operators' estimates of proven and probable reserves related to our royalty or streaming properties, and operators' estimates of operating and capital costs are subject to certain risks and uncertainties which may affect the recoverability of our investment in these royalty and stream interests in mineral properties. It is possible that changes could occur to these estimates, which could adversely affect the net cash flows expected to be generated from these royalty and stream interests. Refer to Note 4 for discussion and the results of our impairment assessments for the fiscal years ended June 30, 2015 and 2014.
Revenue	Revenue Revenue is recognized in accordance with the guidance of ASC 605 and based upon amounts contractually due pursuant to the underlying royalty or stream agreement. Specifically, revenue is recognized in accordance with the terms of the underlying royalty or stream agreements subject to (i) the pervasive evidence of the existence of the arrangements; (ii) the risks and rewards having been transferred; (iii) the royalty or stream being fixed or determinable; and (iv) the collectability being reasonably assured. For our streaming agreements, we sell most of the delivered gold within three weeks of receipt and recognize revenue when the metal received is sold. For royalty payments received in-kind, revenue is recorded at the average spot price of gold for the period in which the royalty was earned.
Gold Sales	Gold Sales Gold received under our metal streaming agreements is sold primarily in the spot market or under average rate gold forward contracts. For our gold sold in the spot market, the sales price is fixed at the delivery date based on the gold spot price, while the sales price for our gold sold under average rate gold forward contracts is determined by the average gold price under the term of the contract, typically 15 consecutive trading days shortly after the receipt and purchase of the gold. Revenue from gold sales is recognized on the date of the settlement, which is also the date that title to the gold passes to the purchaser.
Cost of Sales	Cost of Sales Cost of sales is specific to our streaming agreement for Mount Milligan and is the result of the Company's purchases of gold for a cash payment of the lesser of $435 per ounce, or the prevailing market price of gold when purchased.
Production taxes	Production taxes Certain royalty payments are subject to production taxes (or mining proceeds taxes), which are recognized at the time of revenue recognition. Production taxes are not income taxes and are included within the costs and expenses section in the Company's consolidated statements of operations and comprehensive income.
Exploration Costs	Exploration Costs Exploration costs are specific to our joint venture for exploration and advancement of the Tetlin gold project, as discussed further in Note 3. Exploration costs associated with the Tetlin gold project are expensed when incurred.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation in accordance with the guidance of ASC 718. The Company recognizes all share-based payments to employees, including grants of employee stock options, stock-settled stock appreciation rights ("SSARs"), restricted stock and performance stock, in its financial statements based upon their fair values.
Reportable Segments and Geographical Information	Reportable Segments and Geographical Information The Company manages its business under two reportable segments, consisting of the acquisition and management of royalty interests and the acquisition and management of stream interests. Royal Gold's long-lived assets (royalty and stream interests, net) as of June 30, 2015 and 2014 are geographically distributed as shown in the following table: As of June 30, 2015 Royalty interest Stream interest Total royalty and stream interests, net Canada $ $ $ Chile — $ Mexico — $ United States — $ Australia — $ Africa — $ Other $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2014 Royalty interest Stream interest Total royalty and stream interests, net Canada $ $ $ Chile — $ Mexico — $ United States — $ Australia — $ Africa — $ Other — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company's revenue, cost of sales and net revenue by reportable segment for our fiscal year's ended June 30, 2015, 2014 and 2013 is geographically distributed as show in the following table: Fiscal Year Ended June 30, 2015 Revenue Cost of sales Net revenue Royalties: Canada $ $ — $ Chile — Mexico — United States — Australia — Africa — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties $ $ — $ Streams: Canada $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties and streams $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended June 30, 2014 Revenue Cost of sales Net revenue Royalties: Canada $ $ — $ Chile — Mexico — United States — Australia — Africa — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties $ $ — $ Streams: Canada $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties and streams $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended June 30, 2013 Revenue Cost of sales Net revenue Royalties: Canada $ $ — $ Chile — Mexico — United States — Australia — Africa — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with the guidance of ASC 740. The Company's annual tax rate is based on income, statutory tax rates in effect and tax planning opportunities available to us in the various jurisdictions in which the Company operates. Significant judgment is required in determining the annual tax expense, current tax assets and liabilities, deferred tax assets and liabilities, and our future taxable income, both as a whole and in various tax jurisdictions, for purposes of assessing our ability to realize future benefit from our deferred tax assets. Actual income taxes could vary from these estimates due to future changes in income tax law, significant changes in the jurisdictions in which we operate or unpredicted results from the final determination of each year's liability by taxing authorities. The Company's deferred income taxes reflect the impact of temporary differences between the reported amounts of assets and liabilities for financial reporting purposes and such amounts measured by tax laws and regulations. In evaluating the realizability of the deferred tax assets, management considers both positive and negative evidence that may exist, such as earnings history, reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies in each tax jurisdiction. A valuation allowance may be established to reduce our deferred tax assets to the amount that is considered more likely than not to be realized through the generation of future taxable income and other tax planning strategies. The Company has asserted the indefinite reinvestment of certain foreign subsidiary earnings as determined by management's judgment about and intentions concerning the future operations of the Company. As a result, the Company does not record a U.S. deferred tax liability for the excess of the book basis over the tax basis of its investments in foreign corporations to the extent that the basis difference results from earnings that meet the indefinite reversal criteria. Refer to Note 11 for further discussion on our assertion. The Company's operations may involve dealing with uncertainties and judgments in the application of complex tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions and resolution of disputes arising from federal, state, and international tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the United States and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due. The Company adjusts these reserves in light of changing facts and circumstances, such as the progress of a tax audit; however, due to the complexity of some of these uncertainties, the ultimate resolution could result in a payment that is materially different from our current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period which they are determined. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense.
Comprehensive Income	Comprehensive Income In addition to net income, comprehensive income includes changes in equity during a period associated with cumulative unrealized changes in the fair value of marketable securities held for sale, net of tax effects.
Earnings per Share	Earnings per Share Basic earnings per share is computed by dividing net income available to Royal Gold common stockholders by the weighted average number of outstanding common shares for the period, considering the effect of participating securities, and include the outstanding exchangeable shares. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts that may require issuance of common shares were converted. Diluted earnings per share is computed by dividing net income available to common stockholders by the diluted weighted average number of common shares outstanding, including outstanding exchangeable shares, during each fiscal year.

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Tables)	12 Months Ended
	Jun. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
Royal Gold's long-lived assets (royalty and stream interests, net)	As of June 30, 2015 Royalty interest Stream interest Total royalty and stream interests, net Canada $ $ $ Chile — $ Mexico — $ United States — $ Australia — $ Africa — $ Other $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2014 Royalty interest Stream interest Total royalty and stream interests, net Canada $ $ $ Chile — $ Mexico — $ United States — $ Australia — $ Africa — $ Other — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Net revenue by reportable segment	Fiscal Year Ended June 30, 2015 Revenue Cost of sales Net revenue Royalties: Canada $ $ — $ Chile — Mexico — United States — Australia — Africa — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties $ $ — $ Streams: Canada $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties and streams $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended June 30, 2014 Revenue Cost of sales Net revenue Royalties: Canada $ $ — $ Chile — Mexico — United States — Australia — Africa — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties $ $ — $ Streams: Canada $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties and streams $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fiscal Year Ended June 30, 2013 Revenue Cost of sales Net revenue Royalties: Canada $ $ — $ Chile — Mexico — United States — Australia — Africa — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalties $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

ROYALTY AND STREAM INTERESTS (T

ROYALTY AND STREAM INTERESTS (Tables)	12 Months Ended
	Jun. 30, 2015
ROYALTY AND STREAM INTERESTS
Schedule of royalty and stream interests	As of June 30, 2015 (Amounts in thousands): Cost Accumulated Depletion Impairments Net Production stage royalty interests: Andacollo $ $ ) $ — $ Voisey's Bay ) — Peñasquito ) — Mulatos ) — Holt ) — Robinson ) — Cortez ) — Other ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total production stage royalty interests ) ) Production stage stream interests: Mount Milligan ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Production stage royalty and stream interests ) ) Development stage royalty interests: Pascua-Lama — — Other — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total development stage royalty interests — — Development stage stream interests: Phoenix Gold — — Other — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total development stage stream interests — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Development stage royalty and stream interests — ) Exploration stage royalty interests — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalty and stream interests $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2014 (Amounts in thousands): Cost Accumulated Depletion Net Production stage royalty interests: Andacollo $ $ ) $ Voisey's Bay ) Peñasquito ) Mulatos ) Holt ) Robinson ) Cortez ) Other ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total production stage royalty interests ) Production stage stream interests: Mount Milligan ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Production stage royalty and stream interests ) Development stage royalty interests: Pascua-Lama — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total development stage royalty interests — Development stage stream interests: Phoenix Gold — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total development stage stream interests — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Development stage royalty and stream interests — Exploration stage royalty interests — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total royalty and stream interests $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of impairment charges	Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) Wolverine (1) $ $ — $ — Other — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impairment of royalty and stream interests $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Included in Other production stage royalty interests in the above royalty and stream interests table.

AVAILABLE-FOR-SALE SECURITIES (

AVAILABLE-FOR-SALE SECURITIES (Tables)	12 Months Ended
	Jun. 30, 2015
AVAILABLE-FOR-SALE SECURITIES
Schedule of available-for-sale securities	As of June 30, 2015 Unrealized Cost Basis Gain Loss Fair Value (Amounts in thousands) Non-current: Seabridge $ — ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ — $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2014 Unrealized Cost Basis Gain Loss Fair Value (Amounts in thousands) Non-current: Seabridge $ — — $ Other — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ — $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Jun. 30, 2015
DEBT
Schedule of debt	As of June 30, 2015 As of June 30, 2014 Non-current Non-current (Amounts in thousands) Convertible notes due 2019, net $ $ ​ ​ ​ ​ ​ ​ ​ ​ Total debt $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Jun. 30, 2015
REVENUE
Schedule of revenue	Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) Royalty interests $ $ $ Stream interests — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Jun. 30, 2015
STOCK-BASED COMPENSATION
Schedule of stock-based compensation expenses	For the Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) Stock options $ $ $ Stock appreciation rights Restricted stock Performance stock ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total stock-based compensation expense $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of valuation assumptions of stock options and stock appreciation rights	Stock Options SSARs 2015 2014 2013 2015 2014 2013 Weighted-average expected volatility % % % % % % Weighted-average expected life in years Weighted-average dividend yield % % % % % % Weighted-average risk free interest rate % % % % % %
Summary of stock options activity	Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (in thousands) Outstanding at July 1, 2014 $ Granted $ Exercised ) $ Forfeited ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at June 30, 2015 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at June 30, 2015 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of SSARs activity	Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (in thousands) Outstanding at July 1, 2014 $ Granted $ Exercised ) $ Forfeited ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at June 30, 2015 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at June 30, 2015 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of the status of non-vested performance shares	Number of Shares Weighted- Average Grant Date Fair Value Non-vested at July 1, 2014 $ Granted $ Vested — $ — Forfeited ) $ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at June 30, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of the status of non-vested restricted stock	Number of Shares Weighted- Average Grant Date Fair Value Non-vested at July 1, 2014 $ Granted $ Vested ) $ Forfeited ) $ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at June 30, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	12 Months Ended
	Jun. 30, 2015
EARNINGS PER SHARE ("EPS")
Summary of the effects of dilutive securities on diluted EPS	Fiscal Years Ended June 30, 2015 2014 2013 (in thousands, except per share data) Net income available to Royal Gold common stockholders $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares for basic EPS Effect of other dilutive securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average shares for diluted EPS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per share $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2015
INCOME TAXES
Components of income before income taxes	Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) United States $ $ $ Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Components of income tax expense	Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) Current: Federal $ $ ) $ State ) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred and others: Federal $ ) $ ) $ ) State ) ) ) Foreign ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ ) $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total income tax expense $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of income tax expense and effective tax rate	Fiscal Years Ended June 30, 2015 2014 2013 (Amounts in thousands) Total expense computed by applying federal rates $ $ $ State and provincial income taxes, net of federal benefit Excess depletion ) ) ) Estimates for uncertain tax positions ) Statutory tax attributable to non-controlling interest ) ) ) Effect of foreign earnings Effect of foreign earnings indefinitely reinvested ) ) — Effect of recognized loss on available-for-sale securities — Canadian rate adjustment — — Chilean tax reform ) — — Unrealized foreign exchange gains ) ) Changes in estimates and corrected errors of prior year tax ) ) Other ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of deferred tax assets and liabilities	2015 2014 (Amounts in thousands) Deferred tax assets: Stock-based compensation $ $ Net operating losses Other ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax assets Valuation allowance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax assets $ $ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: Mineral property basis $ ) $ ) Unrealized foreign exchange gains ) 2019 Notes ) ) Other ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax liabilities ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total net deferred taxes $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Reconciliation of beginning and ending amount of gross unrecognized tax benefit	2015 2014 2013 (Amounts in thousands) Total gross unrecognized tax benefits at beginning of year $ $ $ Additions / Reductions for tax positions of current year ) Reductions due to settlements with taxing authorities ) ) ) Reductions due to lapse of statute of limitations — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total amount of gross unrecognized tax benefits at end of year $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SUPPLEMENTAL CASH FLOW INFORM33

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	Jun. 30, 2015
SUPPLEMENTAL CASH FLOW INFORMATION
Schedule of supplemental cash flow information	2015 2014 2013 (Amounts in thousands) Cash paid during the period for: Interest $ $ $ Income taxes, net of refunds $ $ $ Non-cash investing and financing activities: Dividends declared $ $ $

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jun. 30, 2015
FAIR VALUE MEASUREMENTS
Schedule of financial assets measured at fair value on recurring basis	At June 30, 2015 Fair Value Carrying Amount Total Level 1 Level 2 Level 3 Assets (In thousands): Marketable equity securities (1) $ $ $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities (In thousands): Debt (2) $ $ $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities $ $ $ — $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Included in Available for sale securities in the Company's consolidated balance sheets. (2) Included in the carrying amount is the equity component of our 2019 Notes in the amount of $77 million, which is included within Additional paid-in capital in the Company's consolidated balance sheets.

MAJOR SOURCES OF REVENUE (Table

MAJOR SOURCES OF REVENUE (Tables)	12 Months Ended
	Jun. 30, 2015
MAJOR SOURCES OF REVENUE
Schedule of major sources of revenue	Fiscal Year 2015 Fiscal Year 2014 Fiscal Year 2013 Operator Revenue Percentage of total revenue Revenue Percentage of total revenue Revenue Percentage of total revenue Thompson Creek $ % $ % N/A N/A Teck % % $ % Goldcorp, Inc. % % % Vale Newfoundland & Labrador Limited % % %

QUARTERLY RESULTS OF OPERATIO36

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	12 Months Ended
	Jun. 30, 2015
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
Summary of selected quarterly financial information (unaudited)	Revenue Operating income (loss) Net income (loss) attributable to Royal Gold stockholders Basic earnings (loss) per share Diluted earnings (loss) per share (Amounts in thousands except per share data) Fiscal year 2015 quarter-ended: September 30 $ $ $ $ $ December 31 ) ) ) ) March 31 June 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Amounts in thousands except per share data) Fiscal year 2014 quarter-ended: September 30 $ $ $ $ $ December 31 March 31 June 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

THE COMPANY (Details)

THE COMPANY (Details)	12 Months Ended
	Jun. 30, 2015item
THE COMPANY
Minimum number of metals produced from a mine of which right to purchase all or a portion available in exchange for upfront deposit	1

SUMMARY OF SIGNIFICANT ACCOUN38

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Details)	12 Months Ended
	Jun. 30, 2015
Revenue
Length of time to recognize streaming revenue	21 days
Gold forward contracts
Gold Sales
Term of the contract	15 days

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Details 2) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015USD ($)$ / oz	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Sep. 30, 2013USD ($)	Jun. 30, 2015USD ($)segment$ / oz	Jun. 30, 2014USD ($)	Jun. 30, 2013USD ($)
Long Lived Assets and Pre-Tax Income by Geographical Information
Number of reportable segments | segment									2
Royalty and stream interests, net	$ 2,083,608				$ 2,109,067				$ 2,083,608	$ 2,109,067
Revenue	$ 73,579	$ 74,110	$ 61,304	$ 69,026	70,142	$ 57,748	$ 52,785	$ 56,487	278,019	237,162	$ 289,224
Cost of sales									33,450	9,158
Net Revenue									$ 244,569	228,004
Cost of Sales
Cash payment for each ounce of gold (in dollars per ounce) | $ / oz	435								435
Canada
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	$ 1,074,779				1,110,206				$ 1,074,779	1,110,206
Chile
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	653,019				662,482				653,019	662,482
Mexico
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	131,742				145,625				131,742	145,625
United States
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	110,286				68,889				110,286	68,889
Australia
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	50,119				55,241				50,119	55,241
Africa
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	12,760				15,226				12,760	15,226
Other.
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	50,903				51,398				50,903	51,398
Royalty Interest
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	1,252,334				1,292,659				1,252,334	1,292,659
Revenue									183,915	209,953	289,224
Net Revenue									183,915	209,953	289,224
Royalty Interest | Canada
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	251,688				293,798				251,688	293,798
Revenue									37,496	54,277	68,247
Net Revenue									37,496	54,277	68,247
Royalty Interest | Chile
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	653,019				662,482				653,019	662,482
Revenue									39,508	50,733	84,631
Net Revenue									39,508	50,733	84,631
Royalty Interest | Mexico
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	131,742				145,625				131,742	145,625
Revenue									43,008	43,093	53,550
Net Revenue									43,008	43,093	53,550
Royalty Interest | United States
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	110,286				68,889				110,286	68,889
Revenue									42,675	34,671	50,416
Net Revenue									42,675	34,671	50,416
Royalty Interest | Australia
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	50,119				55,241				50,119	55,241
Revenue									8,494	8,353	10,216
Net Revenue									8,494	8,353	10,216
Royalty Interest | Africa
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	12,760				15,226				12,760	15,226
Revenue									3,075	7,943	8,770
Net Revenue									3,075	7,943	8,770
Royalty Interest | Other.
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	42,720				51,398				42,720	51,398
Revenue									9,659	10,883	13,394
Net Revenue									9,659	10,883	$ 13,394
Stream Interest
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	831,274				816,408				831,274	816,408
Stream Interest | Canada
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	823,091				$ 816,408				823,091	816,408
Revenue									94,104	27,209
Cost of sales									33,450	9,158
Net Revenue									60,654	$ 18,051
Stream Interest | Other.
Long Lived Assets and Pre-Tax Income by Geographical Information
Royalty and stream interests, net	$ 8,183								$ 8,183

ACQUISITION (Details)

ACQUISITION (Details) shares in Millions

Jul. 28, 2015USD ($)itemozshares

Jan. 08, 2015USD ($)

Oct. 20, 2014USD ($)itemoz

Mar. 20, 2014USD ($)

Feb. 11, 2014USD ($)itemoz

Jan. 07, 2014USD ($)itemmi

Feb. 28, 2015USD ($)

Jan. 31, 2015USD ($)

Jun. 30, 2015USD ($)

Jun. 30, 2014USD ($)

Jun. 30, 2013USD ($)

Sep. 30, 2014USD ($)

Jan. 02, 2014USD ($)

Dec. 31, 2013

Aug. 31, 2013USD ($)

Acquisition of Royalty Interest in Mineral Properties

Cash paid for acquisition of royalty interests

$ 60,429,000

$ 80,019,000

$ 314,262,000

Denver Mining Finance Company | CVP

Acquisition of Royalty Interest in Mineral Properties

Total purchase amount

$ 11,500,000

Peak Gold | Royal Alaska

Acquisition of Royalty Interest in Mineral Properties

Fair value of non-controlling interest

45,700,000

Ilovitza

Acquisition of Royalty Interest in Mineral Properties

Remaining commitment amount

167,500,000

Ilovitza | RGLD Gold

Acquisition of Royalty Interest in Mineral Properties

Total purchase amount

$ 175,000,000

Number of installments | item

2

Feasibility costs

$ 15,000,000

Construction costs

$ 160,000,000

Cash paid for acquisition of royalty interests

$ 7,500,000

Ilovitza | RGLD Gold | Initial Royalty

Acquisition of Royalty Interest in Mineral Properties

Gold delivered (in ounces) | oz

525,000

Percentage of royalty interests acquired

25.00%

Ilovitza | RGLD Gold | Subsequent Royalty

Acquisition of Royalty Interest in Mineral Properties

Percentage of royalty interests acquired

12.50%

Purchase price per ounce of the commodities as percentage of spot price at the time of delivery

25.00%

Purchase price per ounce of gold as percentage of spot price at the time of delivery

25.00%

Ilovitza | RGLD Gold | First Condition

Acquisition of Royalty Interest in Mineral Properties

Feasibility costs

$ 7,500,000

Ilovitza | RGLD Gold | Second Condition

Acquisition of Royalty Interest in Mineral Properties

Feasibility costs

$ 7,500,000

Tetlin

Acquisition of Royalty Interest in Mineral Properties

Total purchase amount

$ 6,000,000

Tetlin | NSR Royalty 1

Acquisition of Royalty Interest in Mineral Properties

Percentage of royalty interests acquired

2.00%

Tetlin | NSR Royalty 2

Acquisition of Royalty Interest in Mineral Properties

Percentage of royalty interests acquired

3.00%

Tetlin | Peak Gold | Royal Alaska

Acquisition of Royalty Interest in Mineral Properties

Payments to acquire interest in joint venture

$ 5,000,000

Minimum percentage of membership interest required to be manager

40.00%

Tetlin | Peak Gold | Royal Alaska | Maximum

Acquisition of Royalty Interest in Mineral Properties

Percentage of membership interest that can be obtained

40.00%

Amount that can be contributed to purchase membership interest

$ 30,000,000

Tetlin | Peak Gold | Contango

Acquisition of Royalty Interest in Mineral Properties

Membership interest controlled

100.00%

Phoenix Gold

Acquisition of Royalty Interest in Mineral Properties

Installments paid in conjunction with executive definitive documents

$ 12,800,000

Remaining commitment amount

$ 0

Phoenix Gold | RGLD Gold

Acquisition of Royalty Interest in Mineral Properties

Total purchase amount

$ 75,000,000

Purchase price per ounce of the commodities as percentage of spot price at the time of delivery

25.00%

Number of installments the purchase price of refined gold is payable | item

5

Installments paid in conjunction with executive definitive documents

$ 20,000,000

$ 10,000,000

Installment payment for each of the third, fourth and fifth installments

$ 15,000,000

Percentage of produced payable gold to be purchased until 48,000 ounces have been delivered

6.30%

Maximum quantity of gold with specified purchase price (in ounces) | oz

135,000

Percentage of produced payable gold to be purchased after 135,000 ounces have been delivered

3.15%

Purchase price per ounce of gold as percentage of spot price at the time of delivery

25.00%

Maximum amount of senior debt prior to purchase price per ounce of gold of is reduced

$ 50,000,000

Factor to determine purchase price per ounce of gold at the time of delivery if senior secured debt exceeds stated level

5.40%

Denominator to determine purchase price per ounce of gold at the time of delivery if senior secured debt exceeds stated level

$ 50,000,000

Goldrush

Acquisition of Royalty Interest in Mineral Properties

Total purchase amount

$ 8,000,000

Number of installments the purchase price of refined gold is payable | item

6

Cash paid for acquisition of royalty interests

$ 1,000,000

$ 1,000,000

Royalty interests in Mineral Property, net (as a percent)

1.00%

Remaining commitment amount

$ 6,000,000

Distance of mining property from Cortez mine | mi

4

El Morro | Goldcorp, Inc

Acquisition of Royalty Interest in Mineral Properties

Royalty interests in Mineral Property, net (as a percent)

70.00%

El Morro | Chilean Subsidiary

Acquisition of Royalty Interest in Mineral Properties

Percentage of royalty interests acquired

70.00%

Total purchase amount

$ 35,000,000

Royalty interests in Mineral Property, net (as a percent)

2.00%

El Morro | New Gold Inc

Acquisition of Royalty Interest in Mineral Properties

Royalty interests in Mineral Property, net (as a percent)

30.00%

Cortez | CVP

Acquisition of Royalty Interest in Mineral Properties

Percentage of royalty interests acquired

1.25%

Cortez, excluding the Crossroad Claims | Denver Mining Finance Company | CVP

Acquisition of Royalty Interest in Mineral Properties

Percentage of royalty interests acquired

1.014%

0.39%

Cortez Crossroad Claim | Denver Mining Finance Company | CVP

Acquisition of Royalty Interest in Mineral Properties

Percentage of royalty interests acquired

0.618%

0.00%

Golden Star

Acquisition of Royalty Interest in Mineral Properties

Gross loans

$ 20,000,000

Term of loan

4 years

Quarterly interest rate based on average gold rate divided by 10,000

62.50%

Denominator used in calculation of quarterly interest rate

$ 10,000

Number of shares of common stock that can be purchased by the warrants | shares

5

Term of warrants

4 years

Trading period used to calculate premium on share price

10 days

Agreement Premium On Share Price, Number Of Days Before Announcement Of Transactions Used In Calculation

2 days

Premium on share price as a percentage of the volume weighted average trading price of common shares

30.00%

Golden Star | Minimum

Acquisition of Royalty Interest in Mineral Properties

Prepayment on excess cash flow (as a percent)

25.00%

Golden Star | Maximum

Acquisition of Royalty Interest in Mineral Properties

Interest rate (as a percent)

$ 11.5

Prepayment on excess cash flow (as a percent)

50.00%

Golden Star | Ghana Mines | RGLD Gold

Acquisition of Royalty Interest in Mineral Properties

Total purchase amount

$ 130,000,000

Installment payable in conjunction with executive definitive documents

40,000,000

First Installment Scheduled Payment

15,000,000

Second Installment Scheduled Payment

30,000,000

Third, Fourth, and Fifth Scheduled Payments

$ 15,000,000

Purchase price per ounce of the commodities as percentage of spot price at the time of delivery

30.00%

Number of installments the purchase price of refined gold is payable | item

5

Purchase price per ounce of gold as percentage of spot price at the time of delivery

30.00%

Golden Star | Ghana Mines | RGLD Gold | Initial Royalty

Acquisition of Royalty Interest in Mineral Properties

Gold delivered (in ounces) | oz

185,000

Percentage of royalty interests acquired

8.50%

Golden Star | Ghana Mines | RGLD Gold | Subsequent Royalty

Acquisition of Royalty Interest in Mineral Properties

Percentage of royalty interests acquired

5.00%

Gold delivered (in ounces) | oz

22,500

Golden Star | Ghana Mines | RGLD Gold | Subsequent Two Royalty

Acquisition of Royalty Interest in Mineral Properties

Percentage of royalty interests acquired

3.00%

Golden Star | Ghana Mines | RGLD Gold | First Condition

Acquisition of Royalty Interest in Mineral Properties

Gold delivered (in ounces) | oz

207,500

Purchase price per ounce of the commodities as percentage of spot price at the time of delivery

20.00%

Purchase price per ounce of gold as percentage of spot price at the time of delivery

20.00%

ROYALTY AND STREAM INTERESTS (D

ROYALTY AND STREAM INTERESTS (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Royalty and stream interests
Cost			$ 2,647,976	$ 2,551,727
Accumulated Depletion			(536,029)	(442,660)
Impairments			(28,339)
Total royalty and stream interest, net			2,083,608	2,109,067
Impairments			28,339
Royalty Receivables			37,681	46,654
Return of advance payment			10,000
Prepaid expenses and other			3,798	7,840
Other
Royalty and stream interests
Impairments			2,372
Wolverine
Royalty and stream interests
Total royalty and stream interest, net			5,300
Impairments			$ 25,967
Royalty Receivables	$ 3,000
Allowance for royalty receivables	3,000
Wolverine | Minimum
Royalty and stream interests
Percentage of royalty interests acquired			0.00%
Wolverine | Maximum
Royalty and stream interests
Percentage of royalty interests acquired			9.445%
Tulsequah
Royalty and stream interests
Material properties net related to investments		$ 10,000
Material properties net direct acquisition costs		600
Total royalty and stream interest, net	0
Impairments	$ 600
Chieftain
Royalty and stream interests
Return of advance payment			$ 10,000
Production Stage Royalty Interest
Royalty and stream interests
Cost			1,129,230	1,121,776
Accumulated Depletion			(500,834)	(434,919)
Impairments			(27,586)
Total royalty and stream interest, net			600,810	686,857
Production Stage Royalty Interest | Andacollo
Royalty and stream interests
Cost			272,998	272,998
Accumulated Depletion			(65,467)	(56,147)
Total royalty and stream interest, net			207,531	216,851
Production Stage Royalty Interest | Voisey's Bay
Royalty and stream interests
Cost			150,138	150,138
Accumulated Depletion			(76,141)	(67,377)
Total royalty and stream interest, net			73,997	82,761
Production Stage Royalty Interest | Penasquito
Royalty and stream interests
Cost			99,172	99,172
Accumulated Depletion			(24,555)	(17,801)
Total royalty and stream interest, net			74,617	81,371
Production Stage Royalty Interest | Mulatos
Royalty and stream interests
Cost			48,092	48,092
Accumulated Depletion			(32,313)	(28,548)
Total royalty and stream interest, net			15,779	19,544
Production Stage Royalty Interest | Holt
Royalty and stream interests
Cost			34,612	34,612
Accumulated Depletion			(13,950)	(10,474)
Total royalty and stream interest, net			20,662	24,138
Production Stage Royalty Interest | Robinson
Royalty and stream interests
Cost			17,825	17,825
Accumulated Depletion			(12,748)	(11,887)
Total royalty and stream interest, net			5,077	5,938
Production Stage Royalty Interest | Cortez
Royalty and stream interests
Cost			10,630	10,630
Accumulated Depletion			(9,933)	(9,772)
Total royalty and stream interest, net			697	858
Production Stage Royalty Interest | Other
Royalty and stream interests
Cost			495,763	488,309
Accumulated Depletion			(265,727)	(232,913)
Impairments			(27,586)
Total royalty and stream interest, net			202,450	255,396
Production Stage Stream Interests | Mt. Milligan
Royalty and stream interests
Cost			783,046	783,046
Accumulated Depletion			(35,195)	(7,741)
Total royalty and stream interest, net			747,851	775,305
Production Stage Royalty and Stream Interests
Royalty and stream interests
Cost			1,912,276	1,904,822
Accumulated Depletion			(536,029)	(442,660)
Impairments			(27,586)
Total royalty and stream interest, net			1,348,661	1,462,162
Development Stage Royalty Interest
Royalty and stream interests
Cost			439,122	441,593
Total royalty and stream interest, net			439,122	441,593
Development Stage Royalty Interest | Other
Royalty and stream interests
Cost			67,017	69,488
Total royalty and stream interest, net			67,017	69,488
Development Stage Royalty Interest | Pascua Lama
Royalty and stream interests
Cost			372,105	372,105
Total royalty and stream interest, net			372,105	372,105
Development Stage Stream Interest
Royalty and stream interests
Cost			84,026	41,103
Impairments			(603)
Total royalty and stream interest, net			83,423	41,103
Development Stage Stream Interest | Other
Royalty and stream interests
Cost			8,183	10,483
Impairments			(603)
Total royalty and stream interest, net			7,580	10,483
Development Stage Stream Interest | Phoenix Gold
Royalty and stream interests
Cost			75,843	30,620
Total royalty and stream interest, net			75,843	30,620
Development Stage Royalty and Stream Interest
Royalty and stream interests
Cost			523,148	482,696
Impairments			(603)
Total royalty and stream interest, net			522,545	482,696
Exploration Stage Royalty Interest
Royalty and stream interests
Cost			212,552	164,209
Impairments			(150)
Total royalty and stream interest, net			$ 212,402	$ 164,209
Production Stage and Exploration Stage Royalty Interest
Royalty and stream interests
Impairments		$ 1,800

AVAILABLE-FOR-SALE SECURITIES42

AVAILABLE-FOR-SALE SECURITIES (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2014	Mar. 31, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Available-for-sale securities
Cost Basis	$ 9,768		$ 9,565	$ 9,768
Unrealized Loss	(160)		(3,292)	(160)
Fair Value	9,608		6,273	9,608
Loss on available-for-sale securities due to impairment	4,500		183	4,499	$ 12,121
Seabridge
Available-for-sale securities
Cost Basis	9,565		9,565	9,565
Unrealized Loss			(3,292)
Fair Value	9,565		$ 6,273	9,565
Loss on available-for-sale securities due to impairment		$ 12,100
Other
Available-for-sale securities
Cost Basis	203			203
Unrealized Loss	(160)			(160)
Fair Value	$ 43			$ 43

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013	Apr. 29, 2015	Mar. 31, 2015	Jun. 30, 2012
Long-term debt disclosure
Total debt	$ 322,110	$ 311,860
Interest payments on notes	10,638	10,638	$ 10,490
Convertible notes due 2019, net
Long-term debt disclosure
Total debt	322,110	311,860
Aggregate principal amount of convertible senior notes issued						$ 370,000
Interest rate on convertible senior notes (as a percent)						2.875%
Interest expense recognized	22,100	21,400	$ 20,700
Interest payments on notes	10,600	$ 10,600
Revolving credit facility
Long-term debt disclosure
Maximum availability under the revolving credit facility	650,000			$ 650,000	$ 450,000
Amount of accordion feature					$ 150,000
Outstanding amount under credit facility	$ 0
Revolving credit facility | LIBOR
Long-term debt disclosure
Effective interest rate (as percent)	1.25%
Revolving credit facility | Minimum | LIBOR
Long-term debt disclosure
Revolving credit facility, basis spread on interest rate (as a percent)	1.25%
Revolving credit facility | Maximum | LIBOR
Long-term debt disclosure
Revolving credit facility, basis spread on interest rate (as a percent)	3.00%

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
REVENUE
Royalty interests									$ 183,915	$ 209,953	$ 289,224
Stream interests									94,104	27,209
Total revenue	$ 73,579	$ 74,110	$ 61,304	$ 69,026	$ 70,142	$ 57,748	$ 52,785	$ 56,487	$ 278,019	$ 237,162	$ 289,224

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013	Nov. 30, 2004
Stock-based compensation
Common stock authorized for future grants to officers, directors, key employees and other persons (in shares)				2,600,000
Stock-based compensation expense	$ 5,141	$ 2,580	$ 5,701
Stock options
Stock-based compensation
Stock-based compensation expense	417	468	456
Stock appreciation rights
Stock-based compensation
Stock-based compensation expense	1,422	1,305	1,107
Restricted stock
Stock-based compensation
Stock-based compensation expense	2,511	3,110	3,240
Performance stock
Stock-based compensation
Stock-based compensation expense	$ 791		$ 898
Stock-based compensation expense (reversal)		$ (2,303)

STOCK-BASED COMPENSATION (Det46

STOCK-BASED COMPENSATION (Details 2) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Stock options, number of shares
Exercised (in shares)	(20,488)	(34,495)
Stock options
Stock Options and Stock Appreciation Rights
Contractual term of awards	10 years
Key assumptions used in Black-Scholes model to determine the fair value of each stock option and SAR
Weighted-average expected volatility (as a percent)	37.30%	43.60%	43.10%
Weighted-average expected life (in years)	5 years 6 months	5 years 6 months	5 years 6 months
Weighted-average dividend yield (as a percent)	1.00%	1.00%	0.86%
Weighted-average risk free interest rate (as a percent)	1.70%	1.70%	0.80%
Stock options, number of shares
Outstanding at the beginning of the period (in shares)	101,393
Granted (in shares)	21,703
Exercised (in shares)	(20,488)
Forfeited (in shares)	(6,453)
Outstanding at the end of the period (in shares)	96,155	101,393
Exercisable at the end of the period (in shares)	59,762
Stock options, weighted-average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 52.37
Granted (in dollars per share)	74.85
Exercised (in dollars per share)	37.82
Forfeited (in dollars per share)	71.12
Outstanding at the end of the period (in dollars per share)	59.28	$ 52.37
Exercisable at the end of the period (in dollars per share)	$ 53.36
Stock options, weighted-average remaining contractual life (in years)
Outstanding at the end of the period	6 years 6 months
Exercisable at the end of the period	5 years 3 months 18 days
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period	$ 734
Exercisable at the end of the period	$ 692
Granted (in dollars per share)	$ 24.86	$ 22.78	$ 26.76
Intrinsic value of options exercised	$ 700	$ 1,100	$ 4,100
Unrecognized stock-based compensation expense
Unrecognized compensation expense	$ 500
Weighted-average vesting period (years)	1 year 9 months 18 days
Stock options | Minimum
Stock Options and Stock Appreciation Rights
Continuous service period for awards to vest	1 year
Stock options | Maximum
Stock Options and Stock Appreciation Rights
Continuous service period for awards to vest	3 years
Stock appreciation rights
Stock Options and Stock Appreciation Rights
Contractual term of awards	10 years
Key assumptions used in Black-Scholes model to determine the fair value of each stock option and SAR
Weighted-average expected volatility (as a percent)	36.30%	41.30%	43.70%
Weighted-average expected life (in years)	5 years 3 months 18 days	4 years 9 months 18 days	6 years 4 months 24 days
Weighted-average dividend yield (as a percent)	1.00%	1.00%	0.90%
Weighted-average risk free interest rate (as a percent)	1.70%	1.50%	1.00%
Unrecognized stock-based compensation expense
Unrecognized compensation expense	$ 1,900
Weighted-average vesting period (years)	1 year 9 months 18 days
Non-vested other than stock options, number of shares
Outstanding at the beginning of the period (in shares)	229,056
Granted (in shares)	88,872
Exercised (in shares)	(16,612)
Forfeited (in shares)	(24,198)
Outstanding at the end of the period (in shares)	277,118	229,056
Exercisable at the end of the period (in shares)	141,280
Other than stock options, weighted-average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 59.67
Granted (in dollars per share)	75.61
Exercised (in dollars per share)	57.61
Forfeited (in dollars per share)	71.06
Outstanding at the end of the period (in dollars per share)	63.91	$ 59.67
Exercisable at the end of the period (in dollars per share)	$ 57.32
Other than stock options, weighted-average remaining contractual life (in years)
Outstanding at the end of the period	7 years 2 months 12 days
Exercisable at the end of the period	5 years 10 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value [Abstract]
Outstanding at the end of the period	$ 1,077
Exercisable at the end of the period	1,073
Total intrinsic value of SSARs exercised	$ 200	$ 100	$ 3,500
Other than stock options, weighted-average grant date fair value
Non-vested at the beginning of the period (in dollars per share)	$ 21.15	$ 29.78
Non-vested at the end of the period (in dollars per share)	$ 24.42	$ 21.15	$ 29.78
Stock appreciation rights | Minimum
Stock Options and Stock Appreciation Rights
Continuous service period for awards to vest	1 year
Stock appreciation rights | Maximum
Stock Options and Stock Appreciation Rights
Continuous service period for awards to vest	3 years
Restricted stock
Unrecognized stock-based compensation expense
Unrecognized compensation expense	$ 5,200
Weighted-average vesting period (years)	3 years 2 months 12 days
Non-vested other than stock options, number of shares
Outstanding at the beginning of the period (in shares)	177,094
Granted (in shares)	58,514
Vested (in shares)	(51,701)
Forfeited (in shares)	(29,100)
Outstanding at the end of the period (in shares)	154,807	177,094
Other than stock options, weighted-average exercise price
Granted (in dollars per share)	$ 75.39
Other than stock options, weighted-average grant date fair value
Non-vested at the beginning of the period (in dollars per share)	58.06
Vested (in dollars per share)	48.76
Forfeited (in dollars per share)	65.93
Non-vested at the end of the period (in dollars per share)	$ 66.23	$ 58.06
Restricted stock | Officers and Certain Employees
Non-vested other than stock options, number of shares
Granted (in shares)	45,650
Restricted Stock
Vesting period of awards granted to officers and certain employees	3 years
Holding period of awards granted to officers and certain employees, as a vesting condition	2 years
Fraction of the shares granted to officers and certain employees, vesting in year three	0.33%
Fraction of the shares granted to officers and certain employees, vesting in year four	0.33%
Fraction of the shares granted to officers and certain employees, vesting in year five	0.33%
Restricted stock | Non Executive Directors
Non-vested other than stock options, number of shares
Granted (in shares)	12,864
Restricted Stock
Vesting period of awards granted to officers and certain employees	1 year
Percentage of shares granted to non-executive directors, vesting immediately upon grant	50.00%
Percentage of shares granted to non-executive directors, vesting one year after date of grant	50.00%
Performance stock
Unrecognized stock-based compensation expense
Unrecognized compensation expense	$ 1,300
Weighted-average vesting period (years)	2 years 1 month 6 days
Non-vested other than stock options, number of shares
Outstanding at the beginning of the period (in shares)	179,550
Granted (in shares)	49,725
Forfeited (in shares)	(28,950)
Outstanding at the end of the period (in shares)	200,325	179,550
Other than stock options, weighted-average exercise price
Granted (in dollars per share)	$ 75.15
Forfeited (in dollars per share)	67.44
Other than stock options, weighted-average grant date fair value
Non-vested at the beginning of the period (in dollars per share)	64.28
Non-vested at the end of the period (in dollars per share)	$ 66.52	$ 64.28
Performance Shares
Period over which the multi-year performance goals must be achieved	5 years
Percentage of interim earn out basis for vesting, one	25.00%
Percentage of interim earn out basis for vesting, two	50.00%
Percentage of interim earn out basis for vesting, three	75.00%
Percentage of interim earn out basis for vesting, four	100.00%
Trailing period for growth of free cash flow per share, a performance measure	12 months

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2015USD ($)item$ / sharesshares	Jun. 30, 2014USD ($)$ / sharesshares	Jun. 30, 2013USD ($)
Preferred Stock
Number of authorized and unissued shares (in shares) | shares	10,000,000	10,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Common Stock Offering
Number of stock options exercised (in shares) | shares	20,488	34,495
Proceeds from stock options exercised | $	$ 800	$ 1,100
Proceeds from common stock issued | $	$ 775	$ 1,120	$ 473,771
Exchange ratio for conversion of exchangeable shares of RG Exchangeco into shares of Royal Gold common stock	1
Stockholders' Rights Plan
Number of preferred stock purchase rights for each share of Company common stock held	1
Minimum percentage of company's outstanding shares of common stock accumulated by acquiring party for rights to become exercisable	15.00%
Fraction of newly issued share of Series A junior participating preferred stock that could be purchased, for each Right	0.001
Value of a share of the Company's common stock allowed to be purchased for each Right, as a multiple of the exercise price of the Right	2
Initial exercise price of the Right (in dollars per right) | $ / shares	$ 175

EARNINGS PER SHARE ("EPS") (Det

EARNINGS PER SHARE ("EPS") (Details) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015USD ($)$ / shares	Mar. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)$ / shares	Sep. 30, 2014USD ($)$ / shares	Jun. 30, 2014USD ($)$ / shares	Mar. 31, 2014USD ($)$ / shares	Dec. 31, 2013USD ($)$ / shares	Sep. 30, 2013USD ($)$ / shares	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2014USD ($)$ / sharesshares	Jun. 30, 2013USD ($)$ / sharesshares
EARNINGS PER SHARE ("EPS")
Net income available to Royal Gold (in dollars) | $	$ 14,819	$ 25,014	$ (6,548)	$ 18,680	$ 16,636	$ 20,143	$ 10,667	$ 15,195	$ 51,965	$ 62,641	$ 69,153
Weighted-average shares for basic EPS | shares									65,007,861	64,909,149	63,250,247
Effect of other dilutive securities (in shares) | shares									117,312	117,107	179,575
Weighted-average shares for diluted EPS | shares									65,125,173	65,026,256	63,429,822
Basic earnings per share (in dollars per share)	$ 0.23	$ 0.38	$ (0.10)	$ 0.29	$ 0.26	$ 0.31	$ 0.16	$ 0.23	$ 0.80	$ 0.96	$ 1.09
Diluted earnings per share (in dollars per share)	0.23	$ 0.38	$ (0.10)	$ 0.29	$ 0.26	$ 0.31	$ 0.16	$ 0.23	$ 0.80	$ 0.96	$ 1.09
Exchange ratio for conversion of exchangeable shares of RG Exchangeco into shares of Royal Gold common stock									1
Impact on diluted earnings per share (in dollars per share)									$ 0
2019 Conversion Notes, Initial conversion price per share of common stock (in dollars per share)	$ 105.31								$ 105.31

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Income before income taxes
United States			$ 17,569	$ 17,033	$ 65,851
Foreign			44,675	65,894	71,317
Income before income taxes			62,244	82,927	137,168
Current:
Federal			22,418	(3,663)	30,061
State			(36)	334	368
Foreign			14,835	30,950	44,749
Total current income tax expenses			37,217	27,621	75,178
Deferred and others:
Federal			(5,506)	(4,122)	(4,341)
State			(49)	(26)	(27)
Foreign			(22,096)	(4,018)	(7,051)
Total deferred and other income tax expenses			(27,651)	(8,166)	(11,419)
Total income tax expenses			9,566	19,455	63,759
Differences between provision for income taxes and income tax expense computed by applying federal rates
Total expense computed by applying federal rates			21,786	29,024	48,009
State and provincial income taxes, net of federal benefit			25	334	368
Excess depletion			(1,429)	(1,114)	(1,395)
Estimates for uncertain tax positions			1,404	(7,386)	1,868
Statutory tax attributable to non-controlling interest			(211)	(293)	(1,236)
Effect of foreign earnings			6,536	1,141	4,223
Effect of foreign earnings indefinitely reinvested			(7,601)	(1,700)
Effect of recognized loss on available-for-sale securities				562	4,239
Unrealized foreign exchange gains			(10,949)	(367)	1,146
Changes in estimates and corrected errors of prior year tax			(359)	(594)	4,979
Other			(1,225)	(152)	1,558
Total income tax expenses			9,566	19,455	63,759
Income tax (benefit) expense resulting from continued review of prior years tax accounts	$ 2,600	$ (1,700)
Deferred tax assets:
Stock-based compensation	3,511		4,393	3,511
Net operating losses	19,322		16,087	19,322
Other deferred tax assets	7,068		3,904	7,068
Total deferred tax assets	29,901		24,384	29,901
Valuation allowance	(4,933)		(4,262)	(4,933)
Net deferred tax assets	24,968		20,122	24,968
Deferred tax liabilities:
Mineral property basis	(158,301)		(133,646)	(158,301)
Unrealized foreign exchange gains	(3,072)			(3,072)
Unrealized foreign exchange losses			936
2019 Notes	(20,002)		(16,384)	(20,002)
Other deferred tax liabilities	(2,239)		(1,658)	(2,239)
Total deferred tax liabilities	(183,614)		(150,752)	(183,614)
Total deferred tax liabilities	(158,646)		(130,630)	(158,646)
Net operating loss carry forwards
Net operating loss carry forwards	77,000		55,000	77,000
Reconciliation of beginning and ending amount of gross unrecognized tax benefits
Total gross unrecognized tax benefits at beginning of year		$ 21,166	13,725	21,166	19,469
Additions / Reductions for tax positions of current year			1,662	(1,052)	2,638
Reductions due to settlements with taxing authorities			(257)	(296)	(941)
Reductions due to lapse of statute of limitations				(6,093)
Total amount of gross unrecognized tax benefits at end of year	13,725		$ 15,130	13,725	$ 21,166
Net unrecognized tax benefits
Expiration period of statute of limitations for income tax examinations			12 months
Accrued income-tax-related interest and penalties	$ 5,400		$ 4,600	$ 5,400
Canada
Differences between provision for income taxes and income tax expense computed by applying federal rates
Income tax rate adjustment/ reform			4,070
Chile
Differences between provision for income taxes and income tax expense computed by applying federal rates
Income tax rate adjustment/ reform			$ (2,481)

SUPPLEMENTAL CASH FLOW INFORM50

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Cash paid during the period for :
Interest	$ 10,638	$ 10,638	$ 10,490
Income taxes, net of refunds	20,272	27,322	48,809
Non-cash investing and financing activities:
Dividends declared	$ 56,715	$ 54,049	$ 47,997

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Assets:
Marketable equity securities	$ 6,273	$ 9,608
Recurring basis | Carrying Amount
Assets:
Marketable equity securities	6,273
Liabilities:
Debt	399,110
Amount of equity component of convertible notes	77,000
Recurring basis | Fair Value
Assets:
Marketable equity securities	6,273
Total assets	6,273
Liabilities:
Debt	379,664
Total liabilities	379,664
Recurring basis | Level 1
Assets:
Marketable equity securities	6,273
Total assets	6,273
Liabilities:
Debt	379,664
Total liabilities	$ 379,664

MAJOR SOURCES OF REVENUE (Detai

MAJOR SOURCES OF REVENUE (Details) - Royalty revenue - Concentration of risk by operator - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Thompson Creek Metals Company Inc
Major sources of revenue
Revenue	$ 94,104	$ 27,209
Percentage of total revenue	33.80%	11.50%
Teck
Major sources of revenue
Revenue	$ 38,033	$ 48,777	$ 82,272
Percentage of total revenue	13.70%	20.60%	28.40%
Goldcorp, Inc
Major sources of revenue
Revenue	$ 32,117	$ 32,339	$ 32,461
Percentage of total revenue	11.60%	13.60%	11.20%
Vale Newfoundland & Labrador Limited
Major sources of revenue
Revenue	$ 16,665	$ 25,128	$ 32,517
Percentage of total revenue	6.00%	10.60%	11.20%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2015	Jun. 30, 2015
Ilovitza
Commitments and Contingencies
Remaining commitment amount		$ 167.5
Phoenix Gold
Commitments and Contingencies
Installment paid	$ 12.8
Remaining commitment amount		$ 0
Voisey's Bay | Canadian Minerals Partnership
Commitments and Contingencies
Percentage of ownership interest held in Labrador Nickel Royalty Limited Partnership ("LNRLP")		89.99%
Voisey's Bay | Altius
Commitments and Contingencies
Percentage of ownership interest held in Labrador Nickel Royalty Limited Partnership ("LNRLP")		10.00%
Voisey's Bay | Voiseys Bay Holding Corporation
Commitments and Contingencies
Percentage of ownership interest held in Labrador Nickel Royalty Limited Partnership ("LNRLP")		0.01%

QUARTERLY RESULTS OF OPERATIO54

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
Revenue	$ 73,579	$ 74,110	$ 61,304	$ 69,026	$ 70,142	$ 57,748	$ 52,785	$ 56,487	$ 278,019	$ 237,162	$ 289,224
Operating income (loss)	27,568	32,150	(2,022)	29,539	31,452	28,614	22,916	25,738	87,235	108,720	171,167
Net income (loss) attributable to Royal Gold Stockholders	$ 14,819	$ 25,014	$ (6,548)	$ 18,680	$ 16,636	$ 20,143	$ 10,667	$ 15,195	$ 51,965	$ 62,641	$ 69,153
Basic earnings (loss) per share (in dollars per share)	$ 0.23	$ 0.38	$ (0.10)	$ 0.29	$ 0.26	$ 0.31	$ 0.16	$ 0.23	$ 0.80	$ 0.96	$ 1.09
Diluted earnings (loss) per share (in dollars per share)	$ 0.23	$ 0.38	$ (0.10)	$ 0.29	$ 0.26	$ 0.31	$ 0.16	$ 0.23	$ 0.80	$ 0.96	$ 1.09

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Thousands

Aug. 05, 2015USD ($)paymentoz

Jul. 20, 2015USD ($)paymentoz

Jul. 10, 2015USD ($)$ / oz

Jul. 09, 2015USD ($)kmoz

Jan. 12, 2010oz

Jul. 31, 2015USD ($)

Jun. 30, 2015USD ($)oz

Mar. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Sep. 30, 2014USD ($)

Jun. 30, 2014USD ($)

Mar. 31, 2014USD ($)

Dec. 31, 2013USD ($)

Sep. 30, 2013USD ($)

Jun. 30, 2015USD ($)oz

Jun. 30, 2014USD ($)

Jun. 30, 2013USD ($)

Jun. 30, 2015oz

Subsequent event

Cash paid for acquisition of royalty interests

$ 60,429

$ 80,019

$ 314,262

Royalty Revenue.

$ 73,579

$ 74,110

$ 61,304

$ 69,026

$ 70,142

$ 57,748

$ 52,785

$ 56,487

$ 278,019

$ 237,162

$ 289,224

RG Chile | CMCA | Carmen de Andacollo

Subsequent event

Gold delivered (in ounces) | oz

259,000

Gold deliverable (in ounces) | oz

651,000

651,000

651,000

RG Chile | CMCA | Carmen de Andacollo | Initial Royalty

Subsequent event

Related Party Net Value Royalty Interest, Percentage, Owned

75.00%

Gold delivered (in ounces) | oz

910,000

RG Chile | CMCA | Carmen de Andacollo | Subsequent Royalty

Subsequent event

Percentage of royalty interests acquired

50.00%

Subsequent Events. | Barrick Gold | Pascua Lama

Subsequent event

Percentage of royalty interests acquired

0.22%

Cash paid for acquisition of royalty interests

$ 8,000

Royalty interests in Mineral Property, net (as a percent)

5.45%

Gold price (in dollars per ounce) | $ / oz

800

Subsequent Events. | Barrick Gold | Pascua Lama | First Condition

Subsequent event

Remaining consideration payable

$ 2,000

Subsequent Events. | Barrick Gold | Pascua Lama | Second Condition

Subsequent event

Remaining consideration payable

$ 1,000

Subsequent Events. | RGLD Gold | BGC | Pueblo Viejo

Subsequent event

Ownership interest (as a percent)

60.00%

Total purchase amount

$ 610,000

Number of installments | payment

1

Purchase price per ounce of the commodities as percentage of spot price at the time of delivery

60.00%

Subsequent Events. | RGLD Gold | BGC | Pueblo Viejo | First Condition

Subsequent event

Maximum quantity of silver with specified purchase price (in ounces) | oz

23,100,000

Purchase price per ounce of the commodities as percentage of spot price at the time of delivery

30.00%

Gold delivered (in ounces) | oz

550,000

Subsequent Events. | RGLD Gold | BGC | Pueblo Viejo | Initial Royalty

Subsequent event

Related Party Net Value Royalty Interest, Percentage, Owned

7.50%

Related Party Net Value Royalty Silver Interest Percentage Owned

75.00%

Maximum quantity of silver with specified purchase price (in ounces) | oz

50,000,000

Gold delivered (in ounces) | oz

990,000

Subsequent Events. | RGLD Gold | BGC | Pueblo Viejo | Subsequent Royalty

Subsequent event

Percentage of royalty interests acquired

3.75%

Percentage of silver royalty interests acquired

37.50%

Subsequent Events. | RGLD Gold | New Gold Inc | Rainy River

Subsequent event

Total purchase amount

$ 175,000

Number of installments | payment

2

Installment payable in conjunction with executive definitive documents

$ 100,000

Installment payable upon meeting capital spending requirement

$ 75,000

Capital spending requirement (as a percent)

60.00%

Subsequent Events. | RGLD Gold | New Gold Inc | Rainy River | Initial Royalty

Subsequent event

Related Party Net Value Royalty Interest, Percentage, Owned

6.50%

Related Party Net Value Royalty Silver Interest Percentage Owned

60.00%

Maximum quantity of silver with specified purchase price (in ounces) | oz

3,100,000

Gold delivered (in ounces) | oz

230,000

Subsequent Events. | RGLD Gold | New Gold Inc | Rainy River | Subsequent Royalty

Subsequent event

Purchase price per ounce of the commodities as percentage of spot price at the time of delivery

25.00%

Percentage of royalty interests acquired

3.25%

Percentage of silver royalty interests acquired

30.00%

Subsequent Events. | RGLD Gold | CMCA | Maximum

Subsequent event

Area of mining to be eligible for concessions | km

1.5

Subsequent Events. | RGLD Gold | CMCA | Carmen de Andacollo

Subsequent event

Percentage of produced payable gold to be purchased until agreed ounces have been delivered

100.00%

Maximum quantity of gold with specified purchase price (in ounces) | oz

900,000

Percentage of produced payable gold to be purchased after agreed ounces have been delivered

50.00%

Fixed percentage of produced gold payable (as a percent)

89.00%

Purchase price per ounce as a percentage of monthly average gold price for the month preceding the delivery date

15.00%

Cash paid for acquisition of royalty interests

$ 525,000

Subsequent Events. | RG Chile | CMCA | Carmen de Andacollo

Subsequent event

Total purchase amount

345,000

Net proceeds from termination

$ 300,000

Royalty Revenue.

$ 9,700

Subsequent Events. | Teck | CMCA

Subsequent event

Ownership interest (as a percent)

90.00%