Royal Gold (RGLD) 10-Q 30 Apr 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Mar. 31, 2015	Apr. 23, 2015
Document and Entity Information
Entity Registrant Name	ROYAL GOLD INC
Entity Central Index Key	85535
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-24
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Common Stock
Document and Entity Information
Entity Shares Outstanding		65,187,520
Exchangeable Stock
Document and Entity Information
Entity Shares Outstanding		4,482

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
ASSETS
Cash and equivalents	$715,228	$659,536
Royalty receivables	39,486	46,654
Income tax receivable		21,947
Prepaid expenses and other	4,911	7,840
Total current assets	759,625	735,977
Royalty and stream interests, net (Note 3)	2,109,702	2,109,067
Available-for-sale securities (Note 4)	5,619	9,608
Other assets	35,081	36,892
Total assets	2,910,027	2,891,544
LIABILITIES
Accounts payable	2,205	3,897
Dividends payable	14,342	13,678
Income tax payable	3,170
Foreign withholding taxes payable	198	2,199
Other current liabilities	5,791	2,730
Total current liabilities	25,706	22,504
Debt (Note 5)	319,484	311,860
Deferred tax liabilities	135,666	169,865
Uncertain tax positions (Note 9)	15,461	13,725
Other long-term liabilities	694	1,033
Total liabilities	497,011	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 65,029,065 and 64,578,401 shares outstanding, respectively	650	646
Exchangeable shares, no par value, 1,806,649 shares issued, less 1,802,167 and 1,426,792 redeemed shares, respectively	197	16,718
Additional paid-in capital	2,168,675	2,147,650
Accumulated other comprehensive loss	-4,149	-160
Accumulated earnings	184,644	189,871
Total Royal Gold stockholders' equity	2,350,017	2,354,725
Non-controlling interests	62,999	17,832
Total equity	2,413,016	2,372,557
Total liabilities and equity	$2,910,027	$2,891,544

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 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	65,029,065	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	1,802,167	1,426,792

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Consolidated Statements of Operations and Comprehensive Income
Revenue	$74,110	$57,748	$204,439	$167,020
Costs and expenses
Cost of sales	10,542	1,940	23,452	2,875
General and administrative	5,545	3,866	21,197	15,093
Production taxes	935	1,723	4,356	5,110
Exploration Costs	155		155
Depreciation, depletion and amortization	24,783	21,605	67,273	66,676
Impairment of royalty and stream interests			28,339
Total costs and expenses	41,960	29,134	144,772	89,754
Operating income	32,150	28,614	59,667	77,266
Interest and other income	435	1,837	714	1,986
Interest and other expense	-6,433	-5,990	-19,502	-17,580
Income before income taxes	26,152	24,461	40,879	61,672
Income tax expense	-1,041	-3,980	-3,172	-15,133
Net income	25,111	20,481	37,707	46,539
Net income attributable to non-controlling interests	-97	-338	-559	-535
Net income attributable to Royal Gold common stockholders	25,014	20,143	37,148	46,004
Net income	25,111	20,481	37,707	46,539
Adjustments to comprehensive income, net of tax
Unrealized change in market value of available-for-sale securities	-2,168	-127	-3,988	-2,415
Comprehensive income	22,943	20,354	33,719	44,124
Comprehensive income attributable to non-controlling interests	-97	-338	-559	-535
Comprehensive income attributable to Royal Gold stockholders	$22,846	$20,016	$33,160	$43,589
Net income per share available to Royal Gold common stockholders:
Basic earnings per share (in dollars per share)	$0.38	$0.31	$0.57	$0.71
Basic weighted average shares outstanding (in shares)	65,033,547	64,963,605	64,999,331	64,895,464
Diluted earnings per share (in dollars per share)	$0.38	$0.31	$0.57	$0.71
Diluted weighted average shares outstanding (in shares)	65,129,362	65,082,780	65,122,313	65,012,901
Cash dividends declared per common share (in dollars per share)	$0.22	$0.21	$0.65	$0.62

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income	$37,707	$46,539
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	67,273	66,676
Non-cash employee stock compensation expense	3,660	1,289
Gain on distribution to non-controlling interest		-259
Amortization of debt discount	7,624	7,138
Impairment of royalty and stream interests	28,339
Tax benefit of stock-based compensation exercises	-74	-320
Deferred tax benefit	-34,199	-13,002
Changes in assets and liabilities:
Royalty receivables	7,168	8,175
Prepaid expenses and other assets	4,471	12,329
Accounts payable	-1,742	194
Foreign withholding taxes payable	-2,001	-11,533
Income taxes payable (receivable)	25,191	-4,551
Other liabilities	4,777	2,411
Net cash provided by operating activities	148,194	115,086
Cash flows from investing activities:
Acquisition of royalty and stream interests	-60,341	-79,692
Tulsequah stream termination	10,000
Other	-71	227
Net cash used in investing activities	-50,412	-79,465
Cash flows from financing activities:
Net proceeds from issuance of common stock	775	561
Common stock dividends	-41,712	-39,706
Purchase of additional royalty interest from non-controlling interest		-11,522
Debt issuance costs		-1,284
Distribution to non-controlling interests	-1,227	-1,913
Tax expense of stock-based compensation exercises	74	320
Net cash used in financing activities	-42,090	-53,544
Net increase (decrease) in cash and equivalents	55,692	-17,923
Cash and equivalents at beginning of period	659,536	664,035
Cash and equivalents at end of period	$715,228	$646,112

OPERATIONS_SUMMARY_OF_SIGNIFIC

OPERATIONS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Mar. 31, 2015
OPERATIONS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
OPERATIONS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
	1.OPERATIONS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
	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 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.  Operating results for the three and nine months ended March 31, 2015, 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 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.
	Our 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, capital and reclamation 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.  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 and stream interests.  Refer to Note 3 for discussion and the results of our quarterly impairment assessments for the three and nine months ended March 31, 2015.
	Recently Issued Accounting Pronouncements
	In February 2015, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2015-02, Amendments to the Consolidation Analysis.  This ASU 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	9 Months Ended
	Mar. 31, 2015
ACQUISITIONS
ACQUISITIONS
	2.ACQUISITIONS
	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.  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 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 “Project”).  Contango contributed all of its assets relating to the 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 Accounting Standards Codification 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.  As of March 31, 2015, the preliminary 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.  The fair value of the non-controlling interest and corresponding mineral property may change upon the Company’s completion of its fair value analysis.

ROYALTY_AND_STREAM_INTERESTS

ROYALTY AND STREAM INTERESTS	9 Months Ended
	Mar. 31, 2015
ROYALTY AND STREAM INTERESTS
ROYALTY AND STREAM INTERESTS
	3.ROYALTY AND STREAM INTERESTS
	The following tables summarize the Company’s royalty and stream interests as of March 31, 2015 and June 30, 2014.
	As of March 31, 2015 (Amounts in thousands):	Cost		Accumulated			Impairments			Net
				Depletion
	Production stage royalty interests:
	Andacollo	$	272,998	$	(62,990	)	$	—		$	210,008
	Voisey’s Bay	150,138		(74,506		)	—			75,632
	Peñasquito	99,172		(22,266		)	—			76,906
	Mulatos	48,092		(31,362		)	—			16,730
	Holt	34,612		(13,092		)	—			21,520
	Robinson	17,825		(12,565		)	—			5,260
	Cortez	10,630		(9,883		)	—			747
	Other	495,763		(255,997		)	(27,586		)	212,180
	Total production stage royalty interests	1,129,230		(482,661		)	(27,586		)	618,983
	Production stage stream interests:
	Mount Milligan	783,046		(27,185		)	—			755,861
	Total production stage royalty and stream interests	1,912,276		(509,846		)	(27,586		)	1,374,844
	Development stage royalty interests:
	Pascua-Lama	372,105		—			—			372,105
	Other	67,017		—			—			67,017
	Total development stage royalty interests	439,122		—			—			439,122
	Total development stage stream interests	83,937		—			(603		)	83,334
	Total development stage royalty and stream interests	523,059		—			(603		)	522,456
	Exploration stage royalty interests	212,552		—			(150		)	212,402
	Total royalty and stream interests	$	2,647,887	$	(509,846	)	$	(28,339	)	$	2,109,702
	As of June 30, 2014 (Amounts in thousands):	Cost		Accumulated			Impairments			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:
	Mount 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
	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 nine months ended March 31, 2015 and 2014, as summarized in the following table:
		For The Nine Months Ended
		March 31,		March 31,
		2015		2014
		(Amounts in thousands)
	Wolverine(1)	$	25,967	$	—
	Other	2,372		—
	Total impairment of royalty and stream interests	$	28,339	$	—
	(1)  Included in Other production stage royalty interests in the above royalty and stream interests table.
	The Company did not record any impairment charges during the three months ended March 31, 2015 and 2014.
	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 March 31, 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 December 31, 2014.  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 nine months ended March 31, 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 has received court approval to initiate 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 months ended 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 “Agreement”), between RGLD Gold, the Company, Chieftain Metals Inc. and Chieftain Metals Corp. (together, “Chieftain”), relating to Chieftain’s Tulsequah Chief polymetallic 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 Agreement, the carrying value ($10.6 million) of the Tulsequah Chief gold and silver stream was reduced to zero during the three months ended December 31, 2014.

AVAILABLEFORSALE_SECURITIES

AVAILABLE-FOR-SALE SECURITIES	9 Months Ended
	Mar. 31, 2015
AVAILABLE-FOR-SALE SECURITIES
AVAILABLE-FOR-SALE SECURITIES
	4.AVAILABLE-FOR-SALE SECURITIES
	The Company’s available-for-sale securities as of March 31, 2015 and June 30, 2014 consist of the following:
		As of March 31, 2015
		(Amounts in thousands)
				Unrealized
		Cost Basis		Gain		Loss			Fair Value
	Non-current:
	Seabridge	$	9,565	—		(3,982		)	$	5,583
	Other	203		—		(167		)	36
		$	9,768	$	—	$	(4,149	)	$	5,619
		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 and nine months ended March 31, 2015.  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	9 Months Ended
	Mar. 31, 2015
DEBT
DEBT
	5.DEBT
	The Company’s non-current debt as of March 31, 2015 and June 30, 2014 consists of the following:
		As of		As of
		March 31, 2015		June 30, 2014
		Non-current		Non-current
		(Amounts in thousands)
	Convertible notes due 2019, net	$	319,484	$	311,860
	Total debt	$	319,484	$	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, beginning December 15, 2012. The 2019 Notes mature on June 15, 2019.  Interest expense recognized on the 2019 Notes for the three and nine months ended March 31, 2015, was $5.6 million and $16.5 million, respectively, compared to $5.4 million and $16.0 million for the three and nine months ended March 31, 2014, 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 March 31, 2015, 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 March 31, 2015, the Company was in compliance with each financial covenant.  Refer to Note 13 for an update to our revolving credit facility.

REVENUE

REVENUE	9 Months Ended
	Mar. 31, 2015
REVENUE
REVENUE
	6.REVENUE
	Revenue is comprised of the following:
		For The Three Months Ended				For The Nine Months Ended
		March 31,		March 31,		March 31,		March 31,
		2015		2014		2015		2014
		(Amounts in thousands)				(Amounts in thousands)
	Royalty interests	$	44,392	$	51,795	$	137,746	$	158,429
	Stream interests	29,718		5,953		66,693		8,591
	Total revenue	$	74,110	$	57,748	$	204,439	$	167,020

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Mar. 31, 2015
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION
	7.STOCK-BASED COMPENSATION
	The Company recognized stock-based compensation expense as follows:
		For The Three Months Ended						For The Nine Months Ended
		March 31,			March 31,			March 31,		March 31,
		2015			2014			2015		2014
		(Amounts in thousands)						(Amounts in thousands)
	Stock options	$	112		$	88		$	331	$	356
	Stock appreciation rights	361			316			1,054		980
	Restricted stock	637			389			1,964		2,437
	Performance stock	(274		)	(1,263		)	311		(2,484		)
	Total stock-based compensation expense	$	836		$	(470	)	$	3,660	$	1,289
	Stock-based compensation expense is included within general and administrative in the consolidated statements of operations and comprehensive income.
	As of March 31, 2015, unrecognized compensation expense (expressed in thousands below) and weighted-average vesting period for each of our stock-based compensation awards was as follows:
		Unrecognized			Weighted-
		compensation			average vesting
		expense			period (years)
	Stock options	$	652		1.9
	Stock appreciation rights	2,206			2.0
	Restricted stock	5,936			3.3
	Performance stock	1,001			1.6

EARNINGS_PER_SHARE_EPS

EARNINGS PER SHARE ("EPS")	9 Months Ended
	Mar. 31, 2015
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				For The Nine Months Ended
		March 31,		March 31,		March 31,		March 31,
		2015		2014		2015		2014
		(in thousands, except per share data)				(in thousands, except per share data)
	Net income available to Royal Gold common stockholders	$	25,014	$	20,143	$	37,148	$	46,004
	Weighted-average shares for basic EPS	65,033,547		64,963,605		64,999,331		64,895,464
	Effect of other dilutive securities	95,815		119,175		122,982		117,437
	Weighted-average shares for diluted EPS	65,129,362		65,082,780		65,122,313		65,012,901
	Basic earnings per share	$	0.38	$	0.31	$	0.57	$	0.71
	Diluted earnings per share	$	0.38	$	0.31	$	0.57	$	0.71
	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	9 Months Ended
	Mar. 31, 2015
INCOME TAXES
INCOME TAXES
	9.INCOME TAXES
		For The Three Months Ended						For The Nine Months Ended
		March 31,			March 31,			March 31,			March 31,
		2015			2014			2015			2014
		(Amounts in thousands, except rate)						(Amounts in thousands, except rate)
	Income tax expense	$	1,041		$	3,980		$	3,172		$	15,133
	Effective tax rate	4.0		%	16.3		%	7.8		%	24.5		%
	The decrease in the effective tax rate for the three and nine months ended March 31, 2015, is primarily related to a decrease in unrealized taxable foreign currency exchange gains and a favorable tax rate associated with certain operations in lower-tax jurisdictions. The decrease in the effective tax rate for the nine months ended March 31, 2015, is also attributable to (i) a valuation allowance release as a result of the strengthening U.S. dollar, (ii) a decrease in tax expense due to the Chilean tax legislation enacted in the quarter ended September 30, 2014 and the corresponding re-measurement of the Chilean long term deferred tax asset to the higher corporate income tax rate and (iii) the impairment charge on the Wolverine royalty interest and the corresponding tax benefit recorded in the quarter ended December 31, 2014. The decrease in tax expense was partially offset by an increase in current year tax expense due to the 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 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.
	As of March 31, 2015 and June 30, 2014, the Company had $15.5 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 March 31, 2015 and June 30, 2014, the amount of accrued income-tax-related interest and penalties was $6.9 million and $5.4 million, respectively.

SEGMENT_INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Mar. 31, 2015
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 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				Nine Months Ended
		March 31,				March 31,				As of		As of
		2015		2014		2015		2014		March 31, 2015		June 30, 2014
	Canada	50	%	35	%	47	%	30	%	51	%	53	%
	United States	15	%	16	%	16	%	15	%	5	%	3	%
	Mexico	15	%	18	%	14	%	19	%	6	%	7	%
	Chile	12	%	19	%	15	%	24	%	31	%	31	%
	Australia	3	%	3	%	3	%	4	%	2	%	3	%
	Africa	1	%	5	%	1	%	4	%	1	%	1	%
	Other	4	%	4	%	4	%	4	%	4	%	2	%

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Mar. 31, 2015
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 March 31, 2015
		Carrying		Fair Value
		Amount		Total		Level 1		Level 2		Level 3
	Assets (In thousands):
	United States treasury bills(1)	$	329,990	$	329,990	$	329,990	$	—	$	—
	Marketable equity securities(2)	$	5,619	$	5,619	$	5,619	$	—	$	—
	Total assets			$	335,609	$	335,609	$	—	$	—
	Liabilities (In thousands):
	Debt(3)	$	396,484	$	380,175	$	380,175	$	—	$	—
	Total liabilities			$	380,175	$	380,175	$	—	$	—
	(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 also invests in money market funds, which are traded by dealers or brokers in active over-the-counter markets.  The Company’s money market funds, which are invested in United States treasury bills or United States treasury backed securities, are also 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 March 31, 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 3 for discussion of inputs used to develop fair value for those royalty interests that were determined to be impaired during the nine months ended March 31, 2015.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2015
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
	12.COMMITMENTS AND CONTINGENCIES
	Ilovitza Gold Stream Acquisition
	As of March 31, 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 2).
	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.

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	9 Months Ended
	Mar. 31, 2015
SUBSEQUENT EVENT
SUBSEQUENT EVENT
	13.SUBSEQUENT EVENT
	Amendment to Revolving Credit Facility
	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 (the “Credit Agreement”), 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 Credit Agreement increased from $450 million to $650 million and the $150 million accordion feature was eliminated.  As of April 29, 2015, the Company had no amounts outstanding under the Credit Agreement.

OPERATIONS_SUMMARY_OF_SIGNIFIC1

OPERATIONS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Policies)	9 Months Ended
	Mar. 31, 2015
OPERATIONS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
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.
	Our 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, capital and reclamation 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.  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 and stream interests.  Refer to Note 3 for discussion and the results of our quarterly impairment assessments for the three and nine months ended March 31, 2015.

ROYALTY_AND_STREAM_INTERESTS_T

ROYALTY AND STREAM INTERESTS (Tables)	9 Months Ended
	Mar. 31, 2015
ROYALTY AND STREAM INTERESTS
Schedule of royalty and stream interests
	As of March 31, 2015 (Amounts in thousands):	Cost		Accumulated			Impairments			Net
				Depletion
	Production stage royalty interests:
	Andacollo	$	272,998	$	(62,990	)	$	—		$	210,008
	Voisey’s Bay	150,138		(74,506		)	—			75,632
	Peñasquito	99,172		(22,266		)	—			76,906
	Mulatos	48,092		(31,362		)	—			16,730
	Holt	34,612		(13,092		)	—			21,520
	Robinson	17,825		(12,565		)	—			5,260
	Cortez	10,630		(9,883		)	—			747
	Other	495,763		(255,997		)	(27,586		)	212,180
	Total production stage royalty interests	1,129,230		(482,661		)	(27,586		)	618,983
	Production stage stream interests:
	Mount Milligan	783,046		(27,185		)	—			755,861
	Total production stage royalty and stream interests	1,912,276		(509,846		)	(27,586		)	1,374,844
	Development stage royalty interests:
	Pascua-Lama	372,105		—			—			372,105
	Other	67,017		—			—			67,017
	Total development stage royalty interests	439,122		—			—			439,122
	Total development stage stream interests	83,937		—			(603		)	83,334
	Total development stage royalty and stream interests	523,059		—			(603		)	522,456
	Exploration stage royalty interests	212,552		—			(150		)	212,402
	Total royalty and stream interests	$	2,647,887	$	(509,846	)	$	(28,339	)	$	2,109,702
	As of June 30, 2014 (Amounts in thousands):	Cost		Accumulated			Impairments			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:
	Mount 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
Schedule of impairment charges
		For The Nine Months Ended
		March 31,		March 31,
		2015		2014
		(Amounts in thousands)
	Wolverine(1)	$	25,967	$	—
	Other	2,372		—
	Total impairment of royalty and stream interests	$	28,339	$	—
	(1)  Included in Other production stage royalty interests in the above royalty and stream interests table.

AVAILABLEFORSALE_SECURITIES_Ta

AVAILABLE-FOR-SALE SECURITIES (Tables)	9 Months Ended
	Mar. 31, 2015
AVAILABLE-FOR-SALE SECURITIES
Schedule of available-for-sale securities
		As of March 31, 2015
		(Amounts in thousands)
				Unrealized
		Cost Basis		Gain		Loss			Fair Value
	Non-current:
	Seabridge	$	9,565	—		(3,982		)	$	5,583
	Other	203		—		(167		)	36
		$	9,768	$	—	$	(4,149	)	$	5,619
		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)	9 Months Ended
	Mar. 31, 2015
DEBT
Schedule of debt
		As of		As of
		March 31, 2015		June 30, 2014
		Non-current		Non-current
		(Amounts in thousands)
	Convertible notes due 2019, net	$	319,484	$	311,860
	Total debt	$	319,484	$	311,860

REVENUE_Tables

REVENUE (Tables)	9 Months Ended
	Mar. 31, 2015
REVENUE
Schedule of revenue
		For The Three Months Ended				For The Nine Months Ended
		March 31,		March 31,		March 31,		March 31,
		2015		2014		2015		2014
		(Amounts in thousands)				(Amounts in thousands)
	Royalty interests	$	44,392	$	51,795	$	137,746	$	158,429
	Stream interests	29,718		5,953		66,693		8,591
	Total revenue	$	74,110	$	57,748	$	204,439	$	167,020

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Mar. 31, 2015
STOCK-BASED COMPENSATION
Schedule of stock-based compensation expenses
		For The Three Months Ended						For The Nine Months Ended
		March 31,			March 31,			March 31,		March 31,
		2015			2014			2015		2014
		(Amounts in thousands)						(Amounts in thousands)
	Stock options	$	112		$	88		$	331	$	356
	Stock appreciation rights	361			316			1,054		980
	Restricted stock	637			389			1,964		2,437
	Performance stock	(274		)	(1,263		)	311		(2,484		)
	Total stock-based compensation expense	$	836		$	(470	)	$	3,660	$	1,289
Schedule of unrecognized compensation expense and weighted-average vesting period for each of the stock-based compensation awards
	As of March 31, 2015, unrecognized compensation expense (expressed in thousands below) and weighted-average vesting period for each of our stock-based compensation awards was as follows:
		Unrecognized			Weighted-
		compensation			average vesting
		expense			period (years)
	Stock options	$	652		1.9
	Stock appreciation rights	2,206			2.0
	Restricted stock	5,936			3.3
	Performance stock	1,001			1.6

EARNINGS_PER_SHARE_EPS_Tables

EARNINGS PER SHARE ("EPS") (Tables)	9 Months Ended
	Mar. 31, 2015
EARNINGS PER SHARE ("EPS")
Summary of the effects of dilutive securities on diluted EPS
		For The Three Months Ended				For The Nine Months Ended
		March 31,		March 31,		March 31,		March 31,
		2015		2014		2015		2014
		(in thousands, except per share data)				(in thousands, except per share data)
	Net income available to Royal Gold common stockholders	$	25,014	$	20,143	$	37,148	$	46,004
	Weighted-average shares for basic EPS	65,033,547		64,963,605		64,999,331		64,895,464
	Effect of other dilutive securities	95,815		119,175		122,982		117,437
	Weighted-average shares for diluted EPS	65,129,362		65,082,780		65,122,313		65,012,901
	Basic earnings per share	$	0.38	$	0.31	$	0.57	$	0.71
	Diluted earnings per share	$	0.38	$	0.31	$	0.57	$	0.71

INCOME_TAXES_Tables

INCOME TAXES (Tables)	9 Months Ended
	Mar. 31, 2015
INCOME TAXES
Schedule of income tax expense and effective tax rate
		For The Three Months Ended						For The Nine Months Ended
		March 31,			March 31,			March 31,			March 31,
		2015			2014			2015			2014
		(Amounts in thousands, except rate)						(Amounts in thousands, except rate)
	Income tax expense	$	1,041		$	3,980		$	3,172		$	15,133
	Effective tax rate	4.0		%	16.3		%	7.8		%	24.5		%

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2015
SEGMENT INFORMATION
Geographic distribution of revenue and long-lived assets (royalty and stream interests, net)
		Revenue								Royalty and Stream Interests, net
		Three Months Ended				Nine Months Ended
		March 31,				March 31,				As of		As of
		2015		2014		2015		2014		March 31, 2015		June 30, 2014
	Canada	50	%	35	%	47	%	30	%	51	%	53	%
	United States	15	%	16	%	16	%	15	%	5	%	3	%
	Mexico	15	%	18	%	14	%	19	%	6	%	7	%
	Chile	12	%	19	%	15	%	24	%	31	%	31	%
	Australia	3	%	3	%	3	%	4	%	2	%	3	%
	Africa	1	%	5	%	1	%	4	%	1	%	1	%
	Other	4	%	4	%	4	%	4	%	4	%	2	%

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Mar. 31, 2015
FAIR VALUE MEASUREMENTS
Schedule of financial assets measured at fair value on recurring basis
		At March 31, 2015
		Carrying		Fair Value
		Amount		Total		Level 1		Level 2		Level 3
	Assets (In thousands):
	United States treasury bills(1)	$	329,990	$	329,990	$	329,990	$	—	$	—
	Marketable equity securities(2)	$	5,619	$	5,619	$	5,619	$	—	$	—
	Total assets			$	335,609	$	335,609	$	—	$	—
	Liabilities (In thousands):
	Debt(3)	$	396,484	$	380,175	$	380,175	$	—	$	—
	Total liabilities			$	380,175	$	380,175	$	—	$	—
	(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_SUMMARY_OF_SIGNIFIC2

OPERATIONS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Details)	9 Months Ended
	Mar. 31, 2015
	item
OPERATIONS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
Minimum number of metals produced from a mine of which right to purchase all or a portion available in exchange for upfront deposit	1

ACQUISITION_Details

ACQUISITION (Details) (USD $)	9 Months Ended		0 Months Ended	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Oct. 20, 2014	Mar. 31, 2015	Jan. 08, 2015	Sep. 30, 2014
			item
Acquisition of Royalty Interest in Mineral Properties
Cash paid for acquisition of royalty interests	$60,341,000	$79,692,000
Peak Gold | Royal Alaska
Acquisition of Royalty Interest in Mineral Properties
Fair value of non-controlling interest	45,700,000			45,700,000
Ilovitza | RGLD Gold AG
Acquisition of Royalty Interest in Mineral Properties
Total purchase amount			175,000,000
Number of installments			2
Feasibility costs			15,000,000
Construction costs			160,000,000
Cash paid for acquisition of royalty interests				7,500,000
Ilovitza | RGLD Gold AG | First Conditions
Acquisition of Royalty Interest in Mineral Properties
Feasibility costs			7,500,000
Ilovitza | RGLD Gold AG | Second Conditions
Acquisition of Royalty Interest in Mineral Properties
Feasibility costs			7,500,000
Ilovitza | RGLD Gold AG | Initial Royalty
Acquisition of Royalty Interest in Mineral Properties
Percentage of royalty interests acquired			25.00%
Gold delivered (in ounces)			525,000
Ilovitza | RGLD Gold AG | Subsequent Royalty
Acquisition of Royalty Interest in Mineral Properties
Percentage of royalty interests acquired			12.50%
Purchase price per ounce of gold as percentage of spot price at the time of delivery			25.00%
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%

ROYALTY_AND_STREAM_INTERESTS_D

ROYALTY AND STREAM INTERESTS (Details) (USD $)	9 Months Ended	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2015	Sep. 30, 2014	Jun. 30, 2014
Royalty and stream interests
Cost	$2,647,887,000		$2,647,887,000		$2,551,727,000
Accumulated Depletion	-509,846,000		-509,846,000		-442,660,000
Impairments	-28,339,000		-28,339,000
Net	2,109,702,000		2,109,702,000		2,109,067,000
Impairments	28,339,000
Royalty Receivables	39,486,000		39,486,000		46,654,000
Return of advance payment	10,000,000
Prepaid expenses and other	4,911,000		4,911,000		7,840,000
Other
Royalty and stream interests
Impairments	2,372,000
Wolverine
Royalty and stream interests
Net	5,300,000		5,300,000
Impairments	25,967,000
Royalty Receivables		3,000,000
Allowance for royalty receivables		3,000,000
Wolverine | Minimum
Royalty and stream interests
Percentage of royalty interests acquired	0.00%		0.00%
Wolverine | Maximum
Royalty and stream interests
Percentage of royalty interests acquired	9.45%		9.45%
Tulsequah
Royalty and stream interests
Net		0		10,600,000
Impairments		600,000
Chieftain
Royalty and stream interests
Return of advance payment			10,000,000
Production Stage Royalty Interest
Royalty and stream interests
Cost	1,129,230,000		1,129,230,000		1,121,776,000
Accumulated Depletion	-482,661,000		-482,661,000		-434,919,000
Impairments	-27,586,000		-27,586,000
Net	618,983,000		618,983,000		686,857,000
Production Stage Royalty Interest | Andacollo
Royalty and stream interests
Cost	272,998,000		272,998,000		272,998,000
Accumulated Depletion	-62,990,000		-62,990,000		-56,147,000
Net	210,008,000		210,008,000		216,851,000
Production Stage Royalty Interest | Voisey's Bay
Royalty and stream interests
Cost	150,138,000		150,138,000		150,138,000
Accumulated Depletion	-74,506,000		-74,506,000		-67,377,000
Net	75,632,000		75,632,000		82,761,000
Production Stage Royalty Interest | Penasquito
Royalty and stream interests
Cost	99,172,000		99,172,000		99,172,000
Accumulated Depletion	-22,266,000		-22,266,000		-17,801,000
Net	76,906,000		76,906,000		81,371,000
Production Stage Royalty Interest | Mulatos
Royalty and stream interests
Cost	48,092,000		48,092,000		48,092,000
Accumulated Depletion	-31,362,000		-31,362,000		-28,548,000
Net	16,730,000		16,730,000		19,544,000
Production Stage Royalty Interest | Holt
Royalty and stream interests
Cost	34,612,000		34,612,000		34,612,000
Accumulated Depletion	-13,092,000		-13,092,000		-10,474,000
Net	21,520,000		21,520,000		24,138,000
Production Stage Royalty Interest | Robinson
Royalty and stream interests
Cost	17,825,000		17,825,000		17,825,000
Accumulated Depletion	-12,565,000		-12,565,000		-11,887,000
Net	5,260,000		5,260,000		5,938,000
Production Stage Royalty Interest | Cortez
Royalty and stream interests
Cost	10,630,000		10,630,000		10,630,000
Accumulated Depletion	-9,883,000		-9,883,000		-9,772,000
Net	747,000		747,000		858,000
Production Stage Royalty Interest | Other
Royalty and stream interests
Cost	495,763,000		495,763,000		488,309,000
Accumulated Depletion	-255,997,000		-255,997,000		-232,913,000
Impairments	-27,586,000		-27,586,000
Net	212,180,000		212,180,000		255,396,000
Production Stage Stream Interests | Mt. Milligan
Royalty and stream interests
Cost	783,046,000		783,046,000		783,046,000
Accumulated Depletion	-27,185,000		-27,185,000		-7,741,000
Net	755,861,000		755,861,000		775,305,000
Production Stage Royalty and Stream Interests
Royalty and stream interests
Cost	1,912,276,000		1,912,276,000		1,904,822,000
Accumulated Depletion	-509,846,000		-509,846,000		-442,660,000
Impairments	-27,586,000		-27,586,000
Net	1,374,844,000		1,374,844,000		1,462,162,000
Development Stage Royalty Interest
Royalty and stream interests
Cost	439,122,000		439,122,000		441,593,000
Net	439,122,000		439,122,000		441,593,000
Development Stage Royalty Interest | Other
Royalty and stream interests
Cost	67,017,000		67,017,000		69,488,000
Net	67,017,000		67,017,000		69,488,000
Development Stage Royalty Interest | Pascua Lama
Royalty and stream interests
Cost	372,105,000		372,105,000		372,105,000
Net	372,105,000		372,105,000		372,105,000
Development Stage Stream Interest
Royalty and stream interests
Cost	83,937,000		83,937,000		41,103,000
Impairments	-603,000		-603,000
Net	83,334,000		83,334,000		41,103,000
Development Stage Royalty and Stream Interest
Royalty and stream interests
Cost	523,059,000		523,059,000		482,696,000
Impairments	-603,000		-603,000
Net	522,456,000		522,456,000		482,696,000
Exploration Stage Royalty Interest
Royalty and stream interests
Cost	212,552,000		212,552,000		164,209,000
Impairments	-150,000		-150,000
Net	212,402,000		212,402,000		164,209,000
Production Stage and Exploration Stage Royalty Interest
Royalty and stream interests
Impairments				1,800,000
Impaired mining asset
Royalty and stream interests
Net				$0
Impaired mining asset | Production Stage Royalty Interest
Royalty and stream interests
Number of properties		1
Impaired mining asset | Exploration Stage Royalty Interest
Royalty and stream interests
Number of properties		1

AVAILABLEFORSALE_SECURITIES_De

AVAILABLE-FOR-SALE SECURITIES (Details) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2015
Available-for-sale securities
Cost Basis	$9,768,000	$9,768,000	$9,768,000
Unrealized Loss	-4,149,000	-160,000	-4,149,000
Fair Value	5,619,000	9,608,000	5,619,000
Seabridge Gold Inc
Available-for-sale securities
Cost Basis	9,565,000	9,565,000	9,565,000
Unrealized Loss	-3,982,000		-3,982,000
Fair Value	5,583,000	9,565,000	5,583,000
Loss on available-for-sale securities due to impairment	0	4,500,000	0
Other investments
Available-for-sale securities
Cost Basis	203,000	203,000	203,000
Unrealized Loss	-167,000	-160,000	-167,000
Fair Value	$36,000	$43,000	$36,000

DEBT_Details

DEBT (Details) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014	Jun. 30, 2012
Long-term debt disclosure
Total debt	$319,484,000		$319,484,000		$311,860,000
Convertible notes due 2019, net
Long-term debt disclosure
Total debt	319,484,000		319,484,000		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	5,600,000	5,400,000	16,500,000	16,000,000
Revolving credit facility
Long-term debt disclosure
Maximum availability under the revolving credit facility	450,000,000		450,000,000
Outstanding amount under credit facility	$0		$0

REVENUE_Details

REVENUE (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
REVENUE
Royalty interests	$44,392	$51,795	$137,746	$158,429
Stream interests	29,718	5,953	66,693	8,591
Total revenue	$74,110	$57,748	$204,439	$167,020

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Stock-based compensation
Stock-based compensation expense	$836	($470)	$3,660	$1,289
Stock options
Stock-based compensation
Stock-based compensation expense	112	88	331	356
Stock appreciation rights
Stock-based compensation
Stock-based compensation expense	361	316	1,054	980
Restricted stock
Stock-based compensation
Stock-based compensation expense	637	389	1,964	2,437
Performance stock
Stock-based compensation
Stock-based compensation expense	($274)	($1,263)	$311	($2,484)

STOCKBASED_COMPENSATION_Detail1

STOCK-BASED COMPENSATION (Details 2) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Stock options
Unrecognized stock-based compensation expense
Unrecognized compensation expense	$652
Weighted-average vesting period (years)	1 year 10 months 24 days
Stock appreciation rights
Unrecognized stock-based compensation expense
Unrecognized compensation expense	2,206
Weighted-average vesting period (years)	2 years
Restricted stock
Unrecognized stock-based compensation expense
Unrecognized compensation expense	5,936
Weighted-average vesting period (years)	3 years 3 months 18 days
Performance stock
Unrecognized stock-based compensation expense
Unrecognized compensation expense	$1,001
Weighted-average vesting period (years)	1 year 7 months 6 days

EARNINGS_PER_SHARE_EPS_Details

EARNINGS PER SHARE ("EPS") (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
EARNINGS PER SHARE ("EPS")
Net income available to Royal Gold (in dollars)	$25,014	$20,143	$37,148	$46,004
Weighted-average shares for basic EPS	65,033,547	64,963,605	64,999,331	64,895,464
Effect of other dilutive securities (in shares)	95,815	119,175	122,982	117,437
Weighted-average shares for diluted EPS	65,129,362	65,082,780	65,122,313	65,012,901
Basic earnings per share (in dollars per share)	$0.38	$0.31	$0.57	$0.71
Diluted earnings per share (in dollars per share)	$0.38	$0.31	$0.57	$0.71
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 $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014
INCOME TAXES
Income tax expense	$1,041,000	$3,980,000	$3,172,000	$15,133,000
Effective tax rate (as a percent)	4.00%	16.30%	7.80%	24.50%
Expiration period of statute of limitations for income tax examinations			12 months
Total gross unrecognized tax benefits	15,500,000		15,500,000		13,700,000
Accrued income-tax-related interest and penalties	$6,900,000		$6,900,000		$5,400,000

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014
CANADA
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)
Revenue (as a percent)	50.00%	35.00%	47.00%	30.00%
Royalty and stream interests, net (as a percent)	51.00%		51.00%		53.00%
UNITED STATES
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)
Revenue (as a percent)	15.00%	16.00%	16.00%	15.00%
Royalty and stream interests, net (as a percent)	5.00%		5.00%		3.00%
MEXICO
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)
Revenue (as a percent)	15.00%	18.00%	14.00%	19.00%
Royalty and stream interests, net (as a percent)	6.00%		6.00%		7.00%
CHILE
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)
Revenue (as a percent)	12.00%	19.00%	15.00%	24.00%
Royalty and stream interests, net (as a percent)	31.00%		31.00%		31.00%
AUSTRALIA
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)
Revenue (as a percent)	3.00%	3.00%	3.00%	4.00%
Royalty and stream interests, net (as a percent)	2.00%		2.00%		3.00%
AFRICA
Geographic distribution of royalty revenue and long-lived assets (royalty interests in mineral properties, net)
Revenue (as a percent)	1.00%	5.00%	1.00%	4.00%
Royalty and stream interests, net (as a percent)	1.00%		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%	4.00%	4.00%	4.00%
Royalty and stream interests, net (as a percent)	4.00%		4.00%		2.00%

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (Recurring basis, USD $)	Mar. 31, 2015
Carrying Amount
Assets:
United States treasury bills	$329,990,000
Marketable equity securities	5,619,000
Liabilities:
Debt	396,484,000
Amount of equity component of convertible notes	77,000,000
Fair Value
Assets:
United States treasury bills	329,990,000
Marketable equity securities	5,619,000
Total assets	335,609,000
Liabilities:
Debt	380,175,000
Total liabilities	380,175,000
Level 1
Assets:
United States treasury bills	329,990,000
Marketable equity securities	5,619,000
Total assets	335,609,000
Liabilities:
Debt	380,175,000
Total liabilities	$380,175,000

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	6 Months Ended	1 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Feb. 28, 2015	Mar. 31, 2015
Ilovitza
Commitments and Contingencies
Remaining commitment amount	$167.50
Phoenix Gold Project
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%

SUBSEQUENT_EVENT_Details

SUBSEQUENT EVENT (Details) (Revolving credit facility, USD $)	Apr. 29, 2015	Mar. 31, 2015
In Millions, unless otherwise specified
Subsequent event
Maximum availability under the revolving credit facility		$450
Outstanding amount under credit facility		0
Subsequent Events
Subsequent event
Maximum availability under the revolving credit facility	650	450
Amount of accordion feature		150
Outstanding amount under credit facility	$0