SUBSEQUENT EVENT

6 Months Ended

Dec. 31, 2011

SUBSEQUENT EVENT

SUBSEQUENT EVENT

14.SUBSEQUENT EVENT

Common Stock Offering

In January 2012, we sold 4,000,000 shares of our common stock, at a price of $67.10 per share, resulting in proceeds of approximately $268.4 million.  The Company intends to use the net proceeds of the offering to fund acquisitions of additional royalty interests, to fund near-term commitments resulting from the Milligan II Acquisition and to repay debt, including debt incurred to fund the Milligan II Acquisition.

Debt Repayment

On February 2, 2012, the Company paid the $170 million outstanding under its revolving credit facility.  Following the repayment, the Company has $225 million available under its revolving credit facility.