OPERATIONS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Policies)

9 Months Ended

Mar. 31, 2012

OPERATIONS, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

Reclassification

Reclassification

Costs and expenses previously classified as Exploration and business development are now included within the General and administrative caption.  Further, certain amounts previously classified as Costs of Operations are now included within the General and administrative caption or the Production taxes caption in the Company’s consolidated statements of operations and comprehensive income.  The following table reflects these reclassifications for the three and nine months ended March 31, 2011:

	Three Months Ended March 31, 2011							Nine Months Ended March 31, 2011
	Previously							Previously
	Reported		Reclass			Adjusted		Reported		Reclass			Adjusted
	Balance		Adjustment			Balance		Balance		Adjustment			Balance
Costs and expenses (in thousands):
Costs of operations	$	3,544	$	(3,544	)	$	—	$	8,684	$	(8,684	)	$	—
General and administrative	3,182		2,048			5,230		10,836		5,013			15,849
Production taxes	—		2,601			2,601		—		6,290			6,290
Exploration and business development	1,105		(1,105		)	—		2,619		(2,619		)	—

These reclassifications had no effect on reported operating income or net income attributable to Royal Gold stockholders for the prior period presented.