10-K/A

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                FORM 10-K/A NO. 1

              ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
    SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED JUNE 30, 2002

                          COMMISSION FILE NUMBER 0-5664

         (Name, State of Incorporation, Address and Telephone Number)


                             [LOGO] ROYAL GOLD, INC.

                            (a Delaware Corporation)

                                ROYAL GOLD, INC.
                         1660 WYNKOOP STREET, SUITE 1000
                           DENVER, COLORADO 80202-1132
                                 (303) 573-1660

               I.R.S. Employer Identification Number 84-0835164

       Securities Registered Pursuant to Section 12(b) of the Act: NONE

         Securities Registered Pursuant to Section 12(g) of the Act:

    COMMON STOCK $0.01 PAR VALUE             NASDAQ NATIONAL MARKET SYSTEM
    ----------------------------             -----------------------------
         (Title of Class)                (Name of Exchange on which registered)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the Registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X  No
                                      ---   ---

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]

As of September 12, 2002, the average bid and asked price of the Company's stock
was $17.89 per share. The aggregate market value of voting stock held by
non-affiliates was $252 million. For purposes of calculating this aggregate
market value, shares of Common Stock held by persons who hold more than 5% of
the outstanding shares of the Common Stock and shares held by officers and
directors of the registrant have been excluded because such persons may be
deemed to be affiliates. As of September 12, 2002, there were 19,050,614 shares
of Common Stock, $0.01par value, issued and outstanding.

                       DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Proxy Statement for the Annual Meeting of Stockholders scheduled
to be held on November 12, 2002: Part III, Items 11, 12 and 13.





                                EXPLANATORY NOTE

      We are filing this amendment to our Annual Report on Form 10-K, originally
filed with the Securities and Exchange Commission on September 27, 2002, solely
for the purpose of amending Exhibit 23. No other information included in the
Annual Report on Form 10-K is amended by this Form 10-K/A.

                                   SIGNATURES

      Pursuant to the requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                                ROYAL GOLD, INC.

Date:  November 5, 2002                   By: /s/ STANLEY DEMPSEY
                                              ------------------------------
                                          Stanley Dempsey
                                          Chairman, Chief Executive Officer,
                                          President and Director

EX-23

EXHIBIT 23

CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the incorporation by reference in the Registration
Statements on Form S-3 (No. 333-18943), Form S-4 (No. 333-3705) and Form S-8
(No. 33-33369) of Royal Gold, Inc. of our report dated August 14, 2002,
except for Note 14 as to which the date is September 27, 2002, relating to
the financial statements, which appears in this Form 10-K.

PricewaterhouseCoopers LLP
Denver, Colorado
November 5, 2002