ROYAL GOLD INC — Director's Dealing 2007

Feb 15, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2007-02-13

Reporting Person: Parcel Randy L (V.P & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-13	Common stock	M	1500	$22.22	Acquired	29975	Direct
2007-02-14	Common stock	M	4167	$17.38	Acquired	34142	Direct
2007-02-14	Common stock	M	1833	$22.22	Acquired	35975	Direct
2007-02-14	Common stock	S	2045	$32.7	Disposed	33930	Direct
2007-02-14	Common stock	S	2755	$32.8	Disposed	31175	Direct
2007-02-14	Common stock	S	300	$32.81	Disposed	30875	Direct
2007-02-14	Common stock	S	100	$32.82	Disposed	30775	Direct
2007-02-14	Common stock	S	700	$32.83	Disposed	30075	Direct
2007-02-14	Common stock	S	100	$32.85	Disposed	29975	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-13	Employee stock option - right to buy ISO)	$22.22	M	1500	Disposed	2015-11-08	Common stock (1500)	Direct
2007-02-14	Employee stock option - right to buy NSO	$17.38	M	4167	Acquired	2014-11-10	Common stock (4167)	Direct
2007-02-14	Employee stock option - right to buy NSO	$22.22	M	1833	Disposed	2015-11-08	Common stock (1833)	Direct

Footnotes

F1: Mr. Parcel is retiring from the Company effective February 15, 2007. The remaining 3,000 stock options granted under this Agreement have not vested and will be terminated.

F2: Mr. Parcel is retiring from the Company effective February 15, 2007. The remaining 4,100 unvested stock options under this agreement will be terminated.

F3: Mr. Parcel is retiring from the Company effective February 15, 2007. The remaining 3,667 options under this agreement have not yet vested and will be terminated.

F4: Mr. Parcel is retiring from the Company effective February 15, 2007. Of these 29,975 shares, 16,250 shares are restricted and have not yet vested and will be forfeited.