[[RGLD]] — The Company seeks to acquire existing royalties or to finance projects that are in production or near production in exchange for royalty interests. Royal Gold also funds exploration on properties that contain precious metals, and seeks to obtain royalties and other carried ownership interests in such properties through the subsequent transfer of operating interests to other mining companies.

The Company’s principal mineral property interests are the Cortez Pipeline Mining Complex, Robinson Mine, Taparko, Leeville Mining Complex and Goldstrike-SJ Claims. During the fiscal year ended June 30, 2008 (fiscal 2008), approximately 36% and 24% of Royal Gold’s revenues were derived from its royalties at Cortez and the Robinson mine. On October 24, 2007, the Company acquired 100% of Battle Mountain Gold Exploration Corp.