Royal Gold (RGLD) 10-Q 30 Oct 14 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Sep. 30, 2014	Oct. 22, 2014	Oct. 22, 2014
		Common Stock	Exchangeable Stock
Document and Entity Information	'	'	'
Entity Registrant Name	'ROYAL GOLD INC	'	'
Entity Central Index Key	'0000085535	'	'
Document Type	'10-Q	'	'
Document Period End Date	30-Sep-14	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--06-30	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Entity Shares Outstanding	'	64,814,621	380,205
Document Fiscal Year Focus	'2015	'	'
Document Fiscal Period Focus	'Q1	'	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and equivalents	$691,411	$659,536
Royalty receivables	43,227	46,654
Income tax receivable	16,271	21,947
Prepaid expenses and other	6,469	7,840
Total current assets	757,378	735,977
Royalty and stream interests, net (Note 3)	2,091,323	2,109,067
Available-for-sale securities (Note 4)	8,268	9,608
Other assets	35,894	36,892
Total assets	2,892,863	2,891,544
LIABILITIES	'	'
Accounts payable	2,311	3,897
Dividends payable	13,691	13,678
Foreign withholding taxes payable	879	2,199
Other current liabilities	3,904	2,730
Total current liabilities	20,785	22,504
Debt (Note 5)	314,333	311,860
Deferred tax liabilities	164,490	169,865
Uncertain tax positions (Note 9)	14,208	13,725
Other long-term liabilities	707	1,033
Total liabilities	514,523	518,987
Commitments and contingencies (Note 12)	'	'
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 64,594,419 and 64,578,401 shares outstanding, respectively	646	646
Exchangeable shares, no par value, 1,806,649 shares issued, less 1,426,792 and 1,426,792 redeemed shares, respectively	16,718	16,718
Additional paid-in capital	2,149,996	2,147,650
Accumulated other comprehensive loss	-1,500	-160
Accumulated earnings	194,859	189,871
Total Royal Gold stockholders' equity	2,360,719	2,354,725
Non-controlling interests	17,621	17,832
Total equity	2,378,340	2,372,557
Total liabilities and equity	$2,892,863	$2,891,544

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	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	64,594,419	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	1,426,792	1,426,792

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Income (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Consolidated Statements of Operations and Comprehensive Income	'	'
Revenue	$69,026	$56,487
Costs and expenses	'	'
Cost of sales	6,674	'
General and administrative	7,142	6,566
Production taxes	1,690	1,783
Depreciation, depletion and amortization	22,212	22,400
Impairment of mining assets	1,769	'
Total costs and expenses	39,487	30,749
Operating income	29,539	25,738
Interest and other income	51	194
Interest and other expense	-6,712	-5,809
Income before income taxes	22,878	20,123
Income tax expense	-3,959	-4,842
Net income	18,919	15,281
Net income attributable to non-controlling interests	-239	-86
Net income attributable to Royal Gold common stockholders	18,680	15,195
Net income	18,919	15,281
Adjustments to comprehensive income, net of tax	'	'
Unrealized change in market value of available-for-sale securities	-1,340	1,131
Comprehensive income	17,579	16,412
Comprehensive income attributable to non-controlling interests	-239	-86
Comprehensive income attributable to Royal Gold stockholders	$17,340	$16,326
Net income per share available to Royal Gold common stockholders:	'	'
Basic earnings per share (in dollars per share)	$0.29	$0.23
Basic weighted average shares outstanding (in shares)	64,962,883	64,858,354
Diluted earnings per share (in dollars per share)	$0.29	$0.23
Diluted weighted average shares outstanding (in shares)	65,107,481	64,980,599
Cash dividends declared per common share (in dollars per share)	$0.21	$0.20

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net income	$18,919	$15,281
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation, depletion and amortization	22,212	22,400
Non-cash employee stock compensation expense	2,449	1,613
Amortization of debt discount	2,473	2,340
Impairment of mining assets	1,769	'
Tax expense of stock-based compensation exercises	303	28
Deferred tax benefit	-5,374	-2,857
Changes in assets and liabilities:	'	'
Royalty receivables	3,427	2,193
Prepaid expenses and other assets	2,147	10,297
Accounts payable	-1,570	-725
Foreign withholding taxes payable	-1,320	-8,256
Income taxes (receivable) payable	5,373	-9,010
Other liabilities	1,650	2,183
Net cash provided by operating activities	52,458	35,487
Cash flows from investing activities:	'	'
Acquisition of royalty and stream interests	-6,209	-48,028
Other	-127	-24
Net cash used in investing activities	-6,336	-48,052
Cash flows from financing activities:	'	'
Net proceeds from issuance of common stock	199	'
Common stock dividends	-13,678	-13,010
Distribution to non-controlling interests	-465	-533
Tax benefit of stock-based compensation exercises	-303	-28
Net cash used in financing activities	-14,247	-13,571
Net decrease in cash and equivalents	31,875	-26,136
Cash and equivalents at beginning of period	659,536	664,035
Cash and equivalents at end of period	$691,411	$637,899

OPERATIONS_AND_SUMMARY_OF_SIGN

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Sep. 30, 2014
OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	1.OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	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.  We may use the term “royalty interest” in these notes to the consolidated financial statements to refer to royalties, gold, silver or other metal stream interests, and other similar interests.
	Summary of Significant Accounting Policies
	The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934, as amended.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements.  In the opinion of management, all adjustments which are of a normal recurring nature considered necessary for a fair presentation of our interim financial statements have been included in this Form 10-Q.  Certain amounts in the prior period financial statements have been reclassified for comparative purposes to conform with the presentation in the current period financial statements.  Operating results for the three months ended September 30, 2014, are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2015.  These interim unaudited financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2014 filed with the Securities and Exchange Commission on August 7, 2014 (“Fiscal 2014 10-K”).
	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 interests in production and development stage mineral properties is evaluated based upon estimated future undiscounted net cash flows from each royalty 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.
	Our estimates of gold, silver, copper, nickel and other metal prices, operator’s estimates of proven and probable reserves related to our royalty or streaming properties, and operator’s estimates of operating, capital and reclamation costs are subject to certain risks and uncertainties which may affect the recoverability of our investment in these royalty interests in mineral properties.  Although we have made our best assessment of these factors based on current market conditions, it is possible that changes could occur, which could adversely affect the net cash flows expected to be generated from these royalty interests.  As part of the Company’s regular asset impairment analysis, 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 of September 30, 2014.

ACQUISITION

ACQUISITION	3 Months Ended
	Sep. 30, 2014
ACQUISITION	'
ACQUISITION	'
	2.ACQUISITION
	Tetlin Royalty Acquisitions
	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 Contango ORE, Inc.’s Tetlin mining project located near Tok, Alaska, for total consideration of $6.0 million.  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.

ROYALTY_AND_STREAM_INTERESTS_N

ROYALTY AND STREAM INTERESTS, NET	3 Months Ended
	Sep. 30, 2014
ROYALTY AND STREAM INTERESTS, NET	'
ROYALTY AND STREAM INTERESTS, NET	'
	3.ROYALTY AND STREAM INTERESTS, NET
	The following tables summarize the Company’s principal royalty and stream interests as of September 30, 2014 and June 30, 2014.
	As of September 30, 2014	Cost		Accumulated			Net
	(Amounts in thousands):			Depletion
	Production stage royalty interests:
	Andacollo	$	272,998	$	(58,569	)	$	214,429
	Voisey’s Bay	150,138		(70,012		)	80,126
	Peñasquito	99,172		(19,377		)	79,795
	Mulatos	48,092		(29,305		)	18,787
	Holt	34,612		(11,344		)	23,268
	Robinson	17,825		(12,119		)	5,706
	Cortez	10,630		(9,805		)	825
	Other	489,689		(240,505		)	249,184
	Total production stage royalty interests	1,123,156		(451,036		)	672,120
	Production stage stream interests:
	Mt. Milligan	783,046		(13,427		)	769,619
	Total production stage royalty and stream interests	1,906,202		(464,463		)	1,441,739
	Development stage royalty interests:
	Pascua-Lama	372,105		—			372,105
	Other	69,489		—			69,489
	Total development stage royalty interests	441,594		—			441,594
	Total development stage stream interests	41,282		—			41,282
	Total development stage royalty and stream interests	482,876		—			482,876
	Exploration stage royalty interests	166,708		—			166,708
	Total royalty and stream interests	$	2,555,786	$	(464,463	)	$	2,091,323
	As of June 30, 2014 (Amounts in thousands):	Cost		Accumulated			Net
				Depletion
	Production stage royalty interests:
	Andacollo	$	272,998	$	(56,147	)	$	216,851
	Voisey’s Bay	150,138		(67,377		)	82,761
	Peñasquito	99,172		(17,801		)	81,371
	Mulatos	48,092		(28,548		)	19,544
	Holt	34,612		(10,474		)	24,138
	Robinson	17,825		(11,887		)	5,938
	Cortez	10,630		(9,772		)	858
	Other	488,309		(232,913		)	255,396
	Total production stage royalty interests	1,121,776		(434,919		)	686,857
	Production stage stream interests:
	Mt. Milligan	783,046		(7,741		)	775,305
	Total production stage royalty and stream interests	1,904,822		(442,660		)	1,462,162
	Development stage royalty interests:
	Pascua-Lama	372,105		—			372,105
	Other	69,488		—			69,488
	Total development stage royalty interests	441,593		—			441,593
	Total development stage stream interests	41,103		—			41,103
	Total development stage royalty and stream interests	482,696		—			482,696
	Exploration stage royalty interests	164,209		—			164,209
	Total royalty and stream interests	$	2,551,727	$	(442,660	)	$	2,109,067

AVAILABLEFORSALE_SECURITIES

AVAILABLE-FOR-SALE SECURITIES	3 Months Ended
	Sep. 30, 2014
AVAILABLE-FOR-SALE SECURITIES	'
AVAILABLE-FOR-SALE SECURITIES	'
	4.AVAILABLE-FOR-SALE SECURITIES
	The Company’s available-for-sale securities as of September 30, 2014 and June 30, 2014 consist of the following:
		As of September 30, 2014
				(Amounts in thousands)
				Unrealized
		Cost Basis		Gain		Loss			Fair Value
	Non-current:
	Seabridge	$	9,565	—		(1,338		)	$	8,227
	Other	203		—		(162		)	41
		$	9,768	$	—	$	(1,500	)	$	8,268
		As of June 30, 2014
				(Amounts in thousands)
				Unrealized
		Cost Basis		Gain		Loss			Fair Value
	Non-current:
	Seabridge	$	9,565	—		—			$	9,565
	Other	203		—		(160		)	43
		$	9,768	$	—	$	(160	)	$	9,608
	The most significant available-for-sale security is the investment in Seabridge Gold, Inc. (“Seabridge”) common stock, acquired in June 2011 and discussed in greater detail in our Fiscal 2014 10-K.  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.  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.  Based on the Company’s quarterly analysis of its investments and our ability and intent to hold these investments for a reasonable period of time, there were no write downs on our available-for-sale securities during the three months ended September 30, 2014.  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 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	3 Months Ended
	Sep. 30, 2014
DEBT	'
DEBT	'
	5.DEBT
	The Company’s non-current debt as of September 30, 2014 and June 30, 2014 consists of the following:
		As of		As of
		September 30, 2014		June 30, 2014
		Non-current		Non-current
		(Amounts in thousands)
	Convertible notes due 2019, net	$	314,333	$	311,860
	Total debt	$	314,333	$	311,860
	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. The 2019 Notes mature on June 15, 2019.  Interest expense recognized on the 2019 Notes for the three months ended September 30, 2014 and 2013, was $5.4 million and $5.3 million, respectively, and included the contractual coupon interest, the accretion of the debt discount and amortization of the debt issuance costs.
	Revolving credit facility
	The Company maintains a $450 million revolving credit facility.  As of September 30, 2014, the Company had no amounts outstanding under the revolving credit facility.  As discussed in Note 6 to the notes to consolidated financial statements in the Company’s Fiscal 2014 10-K, the Company has financial covenants associated with its revolving credit facility.  At September 30, 2014, the Company was in compliance with each financial covenant.

REVENUE

REVENUE	3 Months Ended
	Sep. 30, 2014
REVENUE	'
REVENUE	'
	6.REVENUE
	Revenue is comprised of the following:
		For The Three Months Ended
		September 30,		September 30,
		2014		2013
		(Amounts in thousands)
	Royalty interests	$	49,369	$	56,487
	Stream interests	19,657		—
	Total revenue	$	69,026	$	56,487

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Sep. 30, 2014
STOCK-BASED COMPENSATION	'
STOCK-BASED COMPENSATION	'
	7.STOCK-BASED COMPENSATION
	The Company recognized stock-based compensation expense as follows:
		For The Three Months Ended
		September 30,		September 30,
		2014		2013
		(Amounts in thousands)
	Stock options	$	112	$	129
	Stock appreciation rights	355		306
	Restricted stock	1,170		1,267
	Performance stock	812		(89		)
	Total stock-based compensation expense	$	2,449	$	1,613
	Stock-based compensation expense is included within general and administrative in the consolidated statements of operations and comprehensive income.
	There were 19,760 and 24,775 stock options granted during the three months ended September 30, 2014 and 2013, respectively.  As of September 30, 2014, there was $0.9 million of unrecognized compensation expense related to non-vested stock options, which is expected to be recognized over a weighted-average period of 2.3 years.
	There were 87,890 and 84,125 stock-settled stock appreciation rights (“SSARs”) granted during the three months ended September 30, 2014 and 2013, respectively.  As of September 30, 2014, there was $3.3 million of unrecognized compensation expense related to non-vested SSARs, which is expected to be recognized over a weighted-average period of 2.4 years.
	There were 55,589 and 66,150 shares of restricted stock granted during the three months ended September 30, 2014 and 2013, respectively.  As of September 30, 2014, there was $7.9 million of unrecognized compensation expense related to non-vested restricted stock, which is expected to be recognized over a weighted-average vesting period of 3.6 years.
	There were 46,800 and 71,700 shares of performance stock granted during the three months ended September 30, 2014 and 2013, respectively.  As of September 30, 2014, there was $4.0 million of unrecognized compensation expense related to non-vested performance stock, which is expected to be recognized over a weighted-average vesting period of 2.0 years based on management’s current estimate of the performance award criteria being achieved.

EARNINGS_PER_SHARE_EPS

EARNINGS PER SHARE ("EPS")	3 Months Ended
	Sep. 30, 2014
EARNINGS PER SHARE ("EPS")	'
EARNINGS PER SHARE ("EPS")	'
	8.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 tables summarize the effects of dilutive securities on diluted EPS for the period:
		For The Three Months Ended
		September 30,		September 30,
		2014		2013
		(in thousands, except per share data)
	Net income available to Royal Gold common stockholders	$	18,680	$	15,195
	Weighted-average shares for basic EPS	64,962,883		64,858,354
	Effect of other dilutive securities	144,598		122,245
	Weighted-average shares for diluted EPS	65,107,481		64,980,599
	Basic earnings per share	$	0.29	$	0.23
	Diluted earnings per share	$	0.29	$	0.23
	The calculation of weighted-average shares includes all of our outstanding stock: common stock and exchangeable shares.  Exchangeable shares are the equivalent of common shares in that they have the same dividend rights and share equitably in undistributed earnings and are exchangeable on a one-for-one basis for shares of our common stock.  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	3 Months Ended
	Sep. 30, 2014
INCOME TAXES	'
INCOME TAXES	'
	9.INCOME TAXES
		For The Three Months Ended
		September 30,			September 30,
		2014			2013
		(Amounts in thousands, except rate)
	Income tax expense	$	3,959		$	4,842
	Effective tax rate	17.3		%	24.1		%
	The decrease in the effective tax rate for the quarter ended September 30, 2014 is primarily related to (i) a favorable tax rate associated with certain operations in lower-tax jurisdictions, and (ii) a decrease in tax expense due to the Chilean tax legislation enacted in the quarter and the re-measurement of the Chilean long term deferred tax asset to the higher corporate income tax rate.  The decrease in tax expense was partially offset by an increase in current year tax expense due to accrual for uncertain tax positions.
	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 2009.  As a result of (i) statute of limitations 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.
	As of September 30, 2014 and June 30, 2014, the Company had $14.2 million and $13.7 million of total gross unrecognized tax benefits, respectively.  If recognized, these unrecognized tax benefits would positively impact the Company’s effective income tax rate.
	The Company’s continuing practice is to recognize potential interest and/or penalties related to unrecognized tax benefits as part of its income tax expense. At September 30, 2014 and June 30, 2014, the amount of accrued income-tax-related interest and penalties was $5.9 million and $5.4 million, respectively.

SEGMENT_INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Sep. 30, 2014
SEGMENT INFORMATION	'
SEGMENT INFORMATION	'
	10.SEGMENT INFORMATION
	The Company manages its business under a single operating segment, consisting of the acquisition and management of royalty and stream interests.  Royal Gold’s royalty revenue and long-lived assets (royalty and stream interests, net) are geographically distributed as shown in the following table.
		Revenue		Royalty and Stream Interests, net
		Three Months Ended
		September 30,		As of	As of
		2014	2013	September 30, 2014	June 30, 2014
	Canada	45%	26%	53%	53%
	Chile	16%	31%	32%	31%
	United States	16%	13%	3%	3%
	Mexico	14%	18%	7%	7%
	Australia	3%	4%	3%	3%
	Africa	2%	3%	1%	1%
	Other	4%	5%	1%	2%

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Sep. 30, 2014
FAIR VALUE MEASUREMENTS	'
FAIR VALUE MEASUREMENTS	'
	11.FAIR VALUE MEASUREMENTS
	FASB Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures (“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 September 30, 2014
			Carrying		Fair Value
			Amount		Total		Level 1		Level 2		Level 3
	Assets (In thousands):
	United States treasury bills(1)		$	499,991	$	499,991	$	499,991	$	—	$	—
	Marketable equity securities(2)		$	8,268	$	8,268	$	8,268	$	—	$	—
	Total assets				$	508,259	$	508,259	$	—	$	—
	Liabilities (In thousands):
	Debt(3)		$	391,333	$	387,575	$	387,575	$	—	$	—
	Total liabilities				$	387,575	$	387,575	$	—	$	—
		-1		Included in Cash and equivalents in the Company’s consolidated balance sheets.
		-2		Included in Available for sale securities in the Company’s consolidated balance sheets.
		-3		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 invests primarily in United States treasury bills with maturities of 90 days or less, which are classified within Level 1 of the fair value hierarchy.  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 September 30, 2014, 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 interests in mineral properties, 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.  As discussed in Note 1, two of these assets were written down to fair value (or $0) during the three months ended September 30, 2014.  If recognition of these assets at their fair value becomes necessary, such measurements will be determined utilizing Level 3 inputs.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Sep. 30, 2014
COMMITMENTS AND CONTINGENCIES.	'
COMMITMENTS AND CONTINGENCIES	'
	12.COMMITMENTS AND CONTINGENCIES
	Phoenix Gold Project Stream Acquisition
	As of September 30, 2014, the Company has a remaining commitment of $45 million as part of its Phoenix Gold Project stream acquisition in February 2014.  The Company made a $17 million payment as part of this commitment on October 3, 2014.
	Tulsequah Chief Gold and Silver Stream Acquisition
	As of September 30, 2014, the Company has a remaining commitment of $45 million as part of its Tulsequah Chief gold and silver stream acquisition in December 2011, as amended in July 2014, payment of which is subject to satisfaction of certain conditions precedent.
	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 October 16, 2009, LNRLP filed a 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 the calculation of the NSR on the sale of concentrates, including nickel concentrates, from the Voisey’s Bay mine to Vale Canada.  The claim asserts that Vale Canada is incorrectly calculating the NSR and requests an order in respect of the correct calculation of future payments.  The claim also requests specific damages for underpayment of past royalties to the date of the claim in an amount not less than $29 million, together with additional damages until the date of trial, interest, costs and other damages.  The litigation is in the discovery phase.

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	3 Months Ended
	Sep. 30, 2014
SUBSEQUENT EVENT	'
SUBSEQUENT EVENT	'
	13.SUBSEQUENT EVENT
	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, approximately nine miles west of the Bulgarian border.  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 is conditioned upon Euromax raising an additional $5 million in equity.  Royal 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 definitive feasibility study and environmental evaluations, demonstrated project viability, and 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 time of delivery.

OPERATIONS_AND_SUMMARY_OF_SIGN1

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Sep. 30, 2014
OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
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 interests in production and development stage mineral properties is evaluated based upon estimated future undiscounted net cash flows from each royalty 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.
	Our estimates of gold, silver, copper, nickel and other metal prices, operator’s estimates of proven and probable reserves related to our royalty or streaming properties, and operator’s estimates of operating, capital and reclamation costs are subject to certain risks and uncertainties which may affect the recoverability of our investment in these royalty interests in mineral properties.  Although we have made our best assessment of these factors based on current market conditions, it is possible that changes could occur, which could adversely affect the net cash flows expected to be generated from these royalty interests.  As part of the Company’s regular asset impairment analysis, 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 of September 30, 2014.

ROYALTY_AND_STREAM_INTERESTS_T

ROYALTY AND STREAM INTERESTS (Tables)	3 Months Ended
	Sep. 30, 2014
ROYALTY AND STREAM INTERESTS, NET	'
Schedule of royalty and stream interests	'
	As of September 30, 2014	Cost		Accumulated			Net
	(Amounts in thousands):			Depletion
	Production stage royalty interests:
	Andacollo	$	272,998	$	(58,569	)	$	214,429
	Voisey’s Bay	150,138		(70,012		)	80,126
	Peñasquito	99,172		(19,377		)	79,795
	Mulatos	48,092		(29,305		)	18,787
	Holt	34,612		(11,344		)	23,268
	Robinson	17,825		(12,119		)	5,706
	Cortez	10,630		(9,805		)	825
	Other	489,689		(240,505		)	249,184
	Total production stage royalty interests	1,123,156		(451,036		)	672,120
	Production stage stream interests:
	Mt. Milligan	783,046		(13,427		)	769,619
	Total production stage royalty and stream interests	1,906,202		(464,463		)	1,441,739
	Development stage royalty interests:
	Pascua-Lama	372,105		—			372,105
	Other	69,489		—			69,489
	Total development stage royalty interests	441,594		—			441,594
	Total development stage stream interests	41,282		—			41,282
	Total development stage royalty and stream interests	482,876		—			482,876
	Exploration stage royalty interests	166,708		—			166,708
	Total royalty and stream interests	$	2,555,786	$	(464,463	)	$	2,091,323
	As of June 30, 2014 (Amounts in thousands):	Cost		Accumulated			Net
				Depletion
	Production stage royalty interests:
	Andacollo	$	272,998	$	(56,147	)	$	216,851
	Voisey’s Bay	150,138		(67,377		)	82,761
	Peñasquito	99,172		(17,801		)	81,371
	Mulatos	48,092		(28,548		)	19,544
	Holt	34,612		(10,474		)	24,138
	Robinson	17,825		(11,887		)	5,938
	Cortez	10,630		(9,772		)	858
	Other	488,309		(232,913		)	255,396
	Total production stage royalty interests	1,121,776		(434,919		)	686,857
	Production stage stream interests:
	Mt. Milligan	783,046		(7,741		)	775,305
	Total production stage royalty and stream interests	1,904,822		(442,660		)	1,462,162
	Development stage royalty interests:
	Pascua-Lama	372,105		—			372,105
	Other	69,488		—			69,488
	Total development stage royalty interests	441,593		—			441,593
	Total development stage stream interests	41,103		—			41,103
	Total development stage royalty and stream interests	482,696		—			482,696
	Exploration stage royalty interests	164,209		—			164,209
	Total royalty and stream interests	$	2,551,727	$	(442,660	)	$	2,109,067

AVAILABLEFORSALE_SECURITIES_Ta

AVAILABLE-FOR-SALE SECURITIES (Tables)	3 Months Ended
	Sep. 30, 2014
AVAILABLE-FOR-SALE SECURITIES	'
Schedule of available-for-sale securities	'
		As of September 30, 2014
				(Amounts in thousands)
				Unrealized
		Cost Basis		Gain		Loss			Fair Value
	Non-current:
	Seabridge	$	9,565	—		(1,338		)	$	8,227
	Other	203		—		(162		)	41
		$	9,768	$	—	$	(1,500	)	$	8,268
		As of June 30, 2014
				(Amounts in thousands)
				Unrealized
		Cost Basis		Gain		Loss			Fair Value
	Non-current:
	Seabridge	$	9,565	—		—			$	9,565
	Other	203		—		(160		)	43
		$	9,768	$	—	$	(160	)	$	9,608

DEBT_Tables

DEBT (Tables)	3 Months Ended
	Sep. 30, 2014
DEBT	'
Schedule of the Company's non-current debt	'
		As of		As of
		September 30, 2014		June 30, 2014
		Non-current		Non-current
		(Amounts in thousands)
	Convertible notes due 2019, net	$	314,333	$	311,860
	Total debt	$	314,333	$	311,860

REVENUE_Tables

REVENUE (Tables)	3 Months Ended
	Sep. 30, 2014
REVENUE	'
Schedule of revenue	'
		For The Three Months Ended
		September 30,		September 30,
		2014		2013
		(Amounts in thousands)
	Royalty interests	$	49,369	$	56,487
	Stream interests	19,657		—
	Total revenue	$	69,026	$	56,487

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Sep. 30, 2014
STOCK-BASED COMPENSATION	'
Schedule of stock-based compensation expenses	'
		For The Three Months Ended
		September 30,		September 30,
		2014		2013
		(Amounts in thousands)
	Stock options	$	112	$	129
	Stock appreciation rights	355		306
	Restricted stock	1,170		1,267
	Performance stock	812		(89		)
	Total stock-based compensation expense	$	2,449	$	1,613

EARNINGS_PER_SHARE_EPS_Tables

EARNINGS PER SHARE ("EPS") (Tables)	3 Months Ended
	Sep. 30, 2014
EARNINGS PER SHARE ("EPS")	'
Summary of the effects of dilutive securities on diluted EPS	'
		For The Three Months Ended
		September 30,		September 30,
		2014		2013
		(in thousands, except per share data)
	Net income available to Royal Gold common stockholders	$	18,680	$	15,195
	Weighted-average shares for basic EPS	64,962,883		64,858,354
	Effect of other dilutive securities	144,598		122,245
	Weighted-average shares for diluted EPS	65,107,481		64,980,599
	Basic earnings per share	$	0.29	$	0.23
	Diluted earnings per share	$	0.29	$	0.23

INCOME_TAXES_Tables

INCOME TAXES (Tables)	3 Months Ended
	Sep. 30, 2014
INCOME TAXES	'
Schedule of income tax expense and effective tax rate	'
		For The Three Months Ended
		September 30,			September 30,
		2014			2013
		(Amounts in thousands, except rate)
	Income tax expense	$	3,959		$	4,842
	Effective tax rate	17.3		%	24.1		%

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	3 Months Ended
	Sep. 30, 2014
SEGMENT INFORMATION	'
Geographic distribution of revenue and long-lived assets (royalty and stream interests, net)	'
		Revenue		Royalty and Stream Interests, net
		Three Months Ended
		September 30,		As of	As of
		2014	2013	September 30, 2014	June 30, 2014
	Canada	45%	26%	53%	53%
	Chile	16%	31%	32%	31%
	United States	16%	13%	3%	3%
	Mexico	14%	18%	7%	7%
	Australia	3%	4%	3%	3%
	Africa	2%	3%	1%	1%
	Other	4%	5%	1%	2%

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Sep. 30, 2014
FAIR VALUE MEASUREMENTS	'
Schedule of financial assets measured at fair value on recurring basis	'
			At September 30, 2014
			Carrying		Fair Value
			Amount		Total		Level 1		Level 2		Level 3
	Assets (In thousands):
	United States treasury bills(1)		$	499,991	$	499,991	$	499,991	$	—	$	—
	Marketable equity securities(2)		$	8,268	$	8,268	$	8,268	$	—	$	—
	Total assets				$	508,259	$	508,259	$	—	$	—
	Liabilities (In thousands):
	Debt(3)		$	391,333	$	387,575	$	387,575	$	—	$	—
	Total liabilities				$	387,575	$	387,575	$	—	$	—
		-1		Included in Cash and equivalents in the Company’s consolidated balance sheets.
		-2		Included in Available for sale securities in the Company’s consolidated balance sheets.
		-3		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.

OPERATIONS_AND_SUMMARY_OF_SIGN2

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended
	Sep. 30, 2014	Jun. 30, 2014
	item
Minimum number of metals produced from a mine of which right to purchase all or a portion available in exchange for upfront deposit	1	'
Carrying value	$2,091,323,000	$2,109,067,000
Impairment of mining assets	1,769,000	'
Impaired mining asset	'	'
Carrying value	0	'
Impairment of mining assets	1,800,000	'
Production Stage Royalty Interest	'	'
Carrying value	672,120,000	686,857,000
Production Stage Royalty Interest | Impaired mining asset	'	'
Number of properties	1	'
Exploration Stage Royalty Interest	'	'
Carrying value	166,708,000	164,209,000
Exploration Stage Royalty Interest | Impaired mining asset	'	'
Number of properties	$1	'

ACQUISITION_Details

ACQUISITION (Details) (Tetlin, USD $)	Sep. 30, 2014
In Millions, unless otherwise specified
Acquisition of Royalty Interest in Mineral Properties	'
Total purchase amount	$6
NSR Royalty 1	'
Acquisition of Royalty Interest in Mineral Properties	'
Percentage of royalty interests acquired	2.00%
NSR Royalty 2	'
Acquisition of Royalty Interest in Mineral Properties	'
Percentage of royalty interests acquired	3.00%

ROYALTY_AND_STREAM_INTERESTS_D

ROYALTY AND STREAM INTERESTS (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
Royalty and stream interests	'	'
Cost	$2,555,786	$2,551,727
Accumulated Depletion	-464,463	-442,660
Net	2,091,323	2,109,067
Production Stage Royalty Interest	'	'
Royalty and stream interests	'	'
Cost	1,123,156	1,121,776
Accumulated Depletion	-451,036	-434,919
Net	672,120	686,857
Production Stage Royalty Interest | Andacollo	'	'
Royalty and stream interests	'	'
Cost	272,998	272,998
Accumulated Depletion	-58,569	-56,147
Net	214,429	216,851
Production Stage Royalty Interest | Voiseys Bay	'	'
Royalty and stream interests	'	'
Cost	150,138	150,138
Accumulated Depletion	-70,012	-67,377
Net	80,126	82,761
Production Stage Royalty Interest | Penasquito	'	'
Royalty and stream interests	'	'
Cost	99,172	99,172
Accumulated Depletion	-19,377	-17,801
Net	79,795	81,371
Production Stage Royalty Interest | Mulatos	'	'
Royalty and stream interests	'	'
Cost	48,092	48,092
Accumulated Depletion	-29,305	-28,548
Net	18,787	19,544
Production Stage Royalty Interest | Holt	'	'
Royalty and stream interests	'	'
Cost	34,612	34,612
Accumulated Depletion	-11,344	-10,474
Net	23,268	24,138
Production Stage Royalty Interest | Robinson	'	'
Royalty and stream interests	'	'
Cost	17,825	17,825
Accumulated Depletion	-12,119	-11,887
Net	5,706	5,938
Production Stage Royalty Interest | Cortez	'	'
Royalty and stream interests	'	'
Cost	10,630	10,630
Accumulated Depletion	-9,805	-9,772
Net	825	858
Production Stage Royalty Interest | Other Mines	'	'
Royalty and stream interests	'	'
Cost	489,689	488,309
Accumulated Depletion	-240,505	-232,913
Net	249,184	255,396
Production Stage Stream Interests | Mt. Milligan	'	'
Royalty and stream interests	'	'
Cost	783,046	783,046
Accumulated Depletion	-13,427	-7,741
Net	769,619	775,305
Production Stage Royalty and Stream Interests	'	'
Royalty and stream interests	'	'
Cost	1,906,202	1,904,822
Accumulated Depletion	-464,463	-442,660
Net	1,441,739	1,462,162
Development Stage Royalty Interest	'	'
Royalty and stream interests	'	'
Cost	441,594	441,593
Net	441,594	441,593
Development Stage Royalty Interest | Pascua Lama	'	'
Royalty and stream interests	'	'
Cost	372,105	372,105
Net	372,105	372,105
Development Stage Royalty Interest | Other Mines	'	'
Royalty and stream interests	'	'
Cost	69,489	69,488
Net	69,489	69,488
Development Stage Stream Interest	'	'
Royalty and stream interests	'	'
Cost	41,282	'
Net	41,282	'
Development Stage Stream Interest | Phoenix Gold Project	'	'
Royalty and stream interests	'	'
Cost	'	30,620
Net	'	30,620
Development Stage Stream Interest | Other Mines	'	'
Royalty and stream interests	'	'
Cost	'	10,483
Net	'	10,483
Development Stage Royalty and Stream Interest	'	'
Royalty and stream interests	'	'
Cost	482,876	41,103
Net	482,876	41,103
Exploration Stage Royalty Interest	'	'
Royalty and stream interests	'	'
Cost	166,708	164,209
Net	$166,708	$164,209

AVAILABLEFORSALE_SECURITIES_De

AVAILABLE-FOR-SALE SECURITIES (Details) (USD $)	3 Months Ended
	Sep. 30, 2014	Jun. 30, 2014
Available-for-sale securities	'	'
Cost Basis	$9,768,000	$9,768,000
Unrealized Loss	-1,500,000	-160,000
Fair Value	8,268,000	9,608,000
Seabridge Gold Inc	'	'
Available-for-sale securities	'	'
Cost Basis	9,565,000	9,565,000
Unrealized Loss	-1,338,000	'
Fair Value	8,227,000	9,565,000
Loss on available-for-sale securities due to impairment	0	4,500,000
Other investments	'	'
Available-for-sale securities	'	'
Cost Basis	203,000	203,000
Unrealized Loss	-162,000	-160,000
Fair Value	$41,000	$43,000

DEBT_Details

DEBT (Details) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014	Jun. 30, 2012
Long-term debt disclosure	'	'	'	'
Total debt, non-current	$314,333,000	'	$311,860,000	'
Convertible notes due 2019, net	'	'	'	'
Long-term debt disclosure	'	'	'	'
Total debt, non-current	314,333,000	'	311,860,000	'
Aggregate principal amount of convertible senior notes issued	'	'	'	370,000,000
Interest rate on convertible senior notes (as a percent)	'	'	'	2.88%
Interest expense recognized	5,400,000	5,300,000	'	'
Revolving credit facility	'	'	'	'
Long-term debt disclosure	'	'	'	'
Maximum availability under the revolving credit facility	450,000,000	'	'	'
Outstanding amount under credit facility	$0	'	'	'

REVENUE_Details

REVENUE (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
REVENUE	'	'
Royalty interests	$49,369	$56,487
Stream interests	19,657	'
Total revenue	$69,026	$56,487

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Stock-based compensation expense	'	'
Stock-based compensation expense	$2,449	$1,613
Stock Options	'	'
Stock-based compensation expense	'	'
Stock-based compensation expense	112	129
Stock Appreciation Rights	'	'
Stock-based compensation expense	'	'
Stock-based compensation expense	355	306
Restricted Stock	'	'
Stock-based compensation expense	'	'
Stock-based compensation expense	1,170	1,267
Performance Stock	'	'
Stock-based compensation expense	'	'
Stock-based compensation expense	$812	($89)

STOCKBASED_COMPENSATION_Detail1

STOCK-BASED COMPENSATION (Details 2) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Stock Options	'	'
Stock options, number of shares	'	'
Granted (in shares)	19,760	24,775
Unrecognized stock-based compensation expense	'	'
Unrecognized stock-based compensation expense related to non-vested awards	$0.90	'
Weighted-average period of recognition of unrecognized stock-based compensation expenses of non-vested awards	'2 years 3 months 18 days	'
Stock Appreciation Rights	'	'
Other than stock options, number of shares	'	'
Granted (in shares)	87,890	84,125
Unrecognized stock-based compensation expense	'	'
Unrecognized stock-based compensation expense related to non-vested awards	3.3	'
Weighted-average period of recognition of unrecognized stock-based compensation expenses of non-vested awards	'2 years 4 months 24 days	'
Restricted Stock	'	'
Other than stock options, number of shares	'	'
Granted (in shares)	55,589	66,150
Unrecognized stock-based compensation expense	'	'
Unrecognized stock-based compensation expense related to non-vested awards	7.9	'
Weighted-average period of recognition of unrecognized stock-based compensation expenses of non-vested awards	'3 years 7 months 6 days	'
Performance Stock	'	'
Other than stock options, number of shares	'	'
Granted (in shares)	46,800	71,700
Unrecognized stock-based compensation expense	'	'
Unrecognized stock-based compensation expense related to non-vested awards	$4	'
Weighted-average period of recognition of unrecognized stock-based compensation expenses of non-vested awards	'2 years	'

EARNINGS_PER_SHARE_EPS_Details

EARNINGS PER SHARE ("EPS") (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
EARNINGS PER SHARE ("EPS")	'	'
Net income available to Royal Gold common stockholders (in dollars)	$18,680	$15,195
Weighted-average shares for basic EPS	64,962,883	64,858,354
Effect of other dilutive securities (in shares)	144,598	122,245
Weighted-average shares for diluted EPS	65,107,481	64,980,599
Basic earnings per share (in dollars per share)	$0.29	$0.23
Diluted earnings per share (in dollars per share)	$0.29	$0.23
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	'

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
INCOME TAXES	'	'
Income tax expense	$3,959,000	$4,842,000
Effective tax rate (as a percent)	17.30%	24.10%
Expiration period of statute of limitations for income tax examinations	'12 months	'
Total gross unrecognized tax benefits	14,200,000	13,700,000
Accrued income-tax-related interest and penalties	$5,900,000	$5,400,000

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014
CANADA	'	'	'
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)	'	'	'
Revenue (as a percent)	45.00%	26.00%	'
Royalty and stream interests, net (as a percent)	53.00%	'	53.00%
CHILE	'	'	'
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)	'	'	'
Revenue (as a percent)	16.00%	31.00%	'
Royalty and stream interests, net (as a percent)	32.00%	'	31.00%
UNITED STATES	'	'	'
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)	'	'	'
Revenue (as a percent)	16.00%	13.00%	'
Royalty and stream interests, net (as a percent)	3.00%	'	3.00%
MEXICO	'	'	'
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)	'	'	'
Revenue (as a percent)	14.00%	18.00%	'
Royalty and stream interests, net (as a percent)	7.00%	'	7.00%
AUSTRALIA	'	'	'
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)	'	'	'
Revenue (as a percent)	3.00%	4.00%	'
Royalty and stream interests, net (as a percent)	3.00%	'	3.00%
AFRICA	'	'	'
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)	'	'	'
Revenue (as a percent)	2.00%	3.00%	'
Royalty and stream interests, net (as a percent)	1.00%	'	1.00%
OTHER	'	'	'
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)	'	'	'
Revenue (as a percent)	4.00%	5.00%	'
Royalty and stream interests, net (as a percent)	1.00%	'	2.00%

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (USD $)	3 Months Ended
	Sep. 30, 2014
Recurring basis | Carrying Amount	'
Assets:	'
United States treasury bills	$499,991,000
Marketable equity securities	8,268,000
Liabilities:	'
Debt	391,333,000
Amount of equity component of convertible notes	77,000,000
Recurring basis | Fair Value	'
Assets:	'
United States treasury bills	499,991,000
Marketable equity securities	8,268,000
Total assets	508,259,000
Liabilities:	'
Debt	387,575,000
Total liabilities	387,575,000
Recurring basis | Level 1	'
Assets:	'
United States treasury bills	499,991,000
Marketable equity securities	8,268,000
Total assets	508,259,000
Liabilities:	'
Debt	387,575,000
Total liabilities	387,575,000
Impaired mining asset | Non-recurring basis | Fair Value	'
Assets:	'
Total assets	0
Number of properties	$2

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	0 Months Ended	3 Months Ended		0 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Oct. 03, 2014	Sep. 30, 2014	Sep. 30, 2014	Oct. 16, 2009	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
	Phoenix Gold Project	Phoenix Gold Project	Tulsequah	Voiseys Bay	Voiseys Bay	Voiseys Bay	Voiseys Bay
				VNRLP Litigation	Canadian Minerals Partnership	Altius	Voiseys Bay Holding Corporation
Commitments and Contingencies	'	'	'	'	'	'	'
Remaining commitment amount	'	$45	$45	'	'	'	'
Payment made	17	'	'	'	'	'	'
Percentage of ownership interest held in Labrador Nickel Royalty Limited Partnership ("LNRLP")	'	'	'	'	89.99%	10.00%	0.01%
Minimum damage amount claimed by Labrador Nickel Royalty Limited Partnership ("LNRLP")	'	'	'	$29	'	'	'

SUBSEQUENT_EVENT_Details

SUBSEQUENT EVENT (Details) (Subsequent Events, RGLD Gold AG, USD $)	0 Months Ended
In Millions, unless otherwise specified	Oct. 20, 2014	Oct. 20, 2014
	item
	mi
Subsequent event	'	'
Total purchase amount	'	$175
Distance of mining property from Cortez mine	9	'
Number of installments	2	'
Feasibility costs	15	'
Construction costs	160	'
Purchase price per ounce of gold as percentage of spot price at the time of delivery	25.00%	'
First Conditions	'	'
Subsequent event	'	'
Feasibility costs	7.5	'
Euromax required contribution	5	'
Second Conditions	'	'
Subsequent event	'	'
Feasibility costs	$7.50	'
Initial Royalty	'	'
Subsequent event	'	'
Percentage of royalty interests acquired	'	25.00%
Gold delivered (in ounces)	525,000	'
Subsequent Royalty	'	'
Subsequent event	'	'
Percentage of royalty interests acquired	12.50%	12.50%