8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 23, 2006

ROYAL GOLD, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-13357	84-0835164
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1660 Wynkoop Street, Suite 1000, Denver, CO	80202-1132
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code 303-573-1660

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 40.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01. Entry into a Material Definitive Agreement.

The disclosure provided in Item 5.02 of this Form 8-K is incorporated herein by reference.

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

On May 23, 2006, the board of directors of Royal Gold, Inc. (the “Company”) promoted Tony Jensen to the position of President and Chief Executive Officer of the Company, effective as of July 1, 2006. Mr. Jensen will no longer serve as the Company’s Chief Operating Officer. Stanley Dempsey, who was previously the Company’s Chief Executive Officer, will remain with the Company as its Executive Chairman of the Board of Directors, effective as of July 1, 2006.

In connection with Mr. Jensen’s appointment as the Company’s President and Chief Executive Officer, his annual base salary was increased to $320,000, effective as of July 1, 2006. Mr. Jensen has elected not to have an employment agreement.

On May 23, 2006, the Company’s board of directors also promoted Stefan Wenger to the position of Chief Financial Officer of the Company, effective as of July 1, 2006. Mr. Wenger will no longer serve as the Company’s Chief Accounting Officer or Treasurer.

The terms of Mr. Dempsey’s employment contract were amended, effective as of July 1, 2006, to reflect his new position as the Company’s Executive Chairman of the Board of Directors and to reflect his new annual base salary of $180,000. Other than as described herein, the terms of Mr. Dempsey’s employment contract were not materially altered.

The terms of Mr. Wenger’s employment contract were amended, effective as of July 1, 2006, to reflect his new position as the Company’s Chief Financial Officer, to have Mr. Wenger report to the Company’s President and Chief Executive Officer and to reflect his new annual base salary of $155,000.

The foregoing summary of the amendments to Mr. Dempsey’s and Mr. Wenger’s employment contracts is qualified in its entirety to the text of the form of employment contract filed by the Company with the Securities and Exchange Commission (the “Commission”) on September 22, 2005 on Current Report on Form 8-K, which is incorporated by reference to Exhibit 10.1 hereto. The material terms of Mr. Dempsey’s and Mr. Wenger’s employment contracts were described in the Company’s proxy statement filed with the Commission on October 11, 2005 in connection with last year’s annual meeting of stockholders under the caption “Compensation of Directors and Executive Officers - Employment Contracts,” which description is incorporated herein by reference.

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The information required by Items 401(b),(d), and (e) and Item 404(a) of Regulation S-K is incorporated by reference to the Company’s proxy statement filed with the Commission on October 11, 2005.

Item 9.01. Exhibits

(d) Exhibits

10.1	Form of Employment Contract (together with Schedule of Certain Executive Officers Parties Thereto), incorporated herein by reference to the Company’s Current Report on Form 8-K (File No. 001-13357), filed September 22, 2005.
99.1	Press Release dated May 24, 2006
99.2	Press Release dated May 25, 2006

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Royal Gold, Inc. (Registrant)
By:	/s/ Karen Gross
	Name:	Karen Gross
	Title:	Vice President & Corporate Secretary

Dated: May 30, 2006

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Exhibit Index

Exhibit No.	Description
10.1	Form of Employment Contract (together with Schedule of Certain Executive Officers Parties Thereto), incorporated herein by reference to the Company’s Current Report on Form 8-K (File No. 001-13357), filed September 22, 2005.
99.1	Press Release dated May 24, 2006
99.2	Press Release dated May 25, 2006

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE:	FOR FURTHER INFORMATION CONTACT:
	Karen Gross, Vice President & Corporate Secretary
	(303) 573-1660

ROYAL GOLD NAMES TONY JENSEN CHIEF EXECUTIVE OFFICER;
STANLEY DEMPSEY REMAINS EXECUTIVE CHAIRMAN

     DENVER, COLORADO. MAY 24, 2006: ROYAL GOLD, INC. (NASDAQ:RGLD; TSX:RGL), the leading precious metals royalty company, today announced its Board of Directors has elected President and Chief Operating Officer Tony Jensen to the position of Chief Executive Officer effective July 1, 2006. Stanley Dempsey will step down as CEO but remain Executive Chairman of the Board of Directors and will continue to be involved in the Company’s strategic activities.

     “Stanley Dempsey has been a driving force behind Royal Gold’s success as a royalty company, enhancing the Company’s value for its shareholders for nearly two decades,” said John Goth, an independent director and chairman of the Board’s nominating committee. “The Board has valued Stan’s leadership and we are pleased that he will remain Chairman and continue to work closely with Tony to provide strategic support in all aspects of the Company’s business.”

     Stanley Dempsey stated that, “Tony has demonstrated outstanding leadership and management acumen since joining Royal Gold as President and COO approximately three years ago. He has played a major role in making Royal Gold what it is today, and the Company is fully prepared for a smooth transition. Like all the other members of the Board, I have complete confidence that Tony has the strategic thinking, industry knowledge and dedication to all of our shareholders to successfully lead this Company

into the future. Supporting Tony is an outstanding team of people whose commitment to this Company has produced exceptional results and established a solid platform for future growth.”

     “I am honored to be assuming the CEO responsibilities,” commented Jensen. “Stan has tirelessly dedicated himself to Royal Gold and has built a very successful company. Royal Gold is in excellent financial shape and has a great growth profile. I look forward to furthering the goals of the Company thorough continued expansion of our precious metals royalty portfolio.”

     Tony Jensen has more than 23 years of experience in the mining industry. During his career, Tony worked at Placer Dome Inc., holding various senior operating positions domestically and internationally, as well as corporate positions in San Francisco, California, and Santiago, Chile. He was also the Mine General Manager for the Cortez Gold Mines, and Director, Finance and Strategic Growth of Placer Dome Latin America. Jensen holds a Mining Engineering degree from the South Dakota School of Mines and Technology and a Certificate of Finance from Golden Gate University in San Francisco. He serves as a Director of Royal Gold, the Colorado Mining Association, the Industrial Advisory Board of the South Dakota School of Mines and Technology, and the Nevada Mining Association.

     Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metals royalty interests. Royal Gold is publicly traded on the NASDAQ National Market System, under the symbol “RGLD” and on the Toronto Stock Exchange, under the symbol “RGL.” The Company’s web page is located at www.royalgold.com.

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EX-99.2

Exhibit 99.2

FOR IMMEDIATE RELEASE:	FOR FURTHER INFORMATION CONTACT:
	Karen Gross, Vice President & Corporate Secretary
	(303) 573-1660

ROYAL GOLD NAMES WENGER AS CHIEF FINANCIAL OFFICER

     DENVER, COLORADO. MAY 25, 2006: ROYAL GOLD, INC. (NASDAQ:RGLD; TSX:RGL) the leading publicly-traded precious metals royalty company, today announced that Stefan L. Wenger has been promoted to Chief Financial Officer, effective July 1, 2006. Mr. Wenger joined the Company in 2003, serving as Controller, and later that year was promoted to Treasurer and Chief Accounting Officer. He became a member of the Company’s senior management team in the fall of 2003.

     Wenger has played a prominent role in financing the Company’s growth, stewarding our assets, and executing our royalty acquisition strategy, which are critical to the long-term success of the Company. His strong financial background and business acumen make him a critical part of Royal Gold’s senior management team.

     Prior to his initial position with Royal Gold, Mr. Wenger spent eight years providing audit and business advisory services to the mining, oil and gas, and communications industries. The bulk of this experience was gained working for Arthur Andersen LLP and PricewaterhouseCoopers LLP in various positions of increasing responsibility. Mr. Wenger has a bachelor’s degree in business administration from Colorado State University with an emphasis in accounting and a minor in economics. He is a member of the Financial Executives International, the Colorado Society of Certified Public Accountants, and the American Institute of Certified Public Accountants.

     Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metals royalty interests. Royal Gold is publicly traded on the NASDAQ National Market System, under the symbol “RGLD” and on the Toronto Stock Exchange, under the symbol “RGL.” The Company’s web page is located at www.royalgold.com.

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