<SEC-DOCUMENT>0001144204-12-014944.txt : 20120314
<SEC-HEADER>0001144204-12-014944.hdr.sgml : 20120314
<ACCEPTANCE-DATETIME>20120314171540
ACCESSION NUMBER:		0001144204-12-014944
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20120314
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120314
DATE AS OF CHANGE:		20120314

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROYAL GOLD INC
		CENTRAL INDEX KEY:			0000085535
		STANDARD INDUSTRIAL CLASSIFICATION:	MINERAL ROYALTY TRADERS [6795]
		IRS NUMBER:				840835164
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13357
		FILM NUMBER:		12691090

	BUSINESS ADDRESS:	
		STREET 1:		1660 WYNKOOP STREET
		STREET 2:		SUITE 1000
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202-1132
		BUSINESS PHONE:		303-573-1660

	MAIL ADDRESS:	
		STREET 1:		1660 WYNKOOP STREET
		STREET 2:		SUITE 1000
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202-1132

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYAL GOLD INC /DE/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYAL RESOURCES CORP
		DATE OF NAME CHANGE:	19870517

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYAL RESOURCES EXPLORATION INC
		DATE OF NAME CHANGE:	19810716
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v305983_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
March 14, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ROYAL GOLD, INC. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; font-weight: bold; text-align: center; padding: 0; text-indent: 0">Delaware</TD>
    <TD STYLE="width: 33%; font-weight: bold; text-align: center; padding: 0; text-indent: 0">001-13357</TD>
    <TD STYLE="width: 33%; font-weight: bold; text-align: center; padding: 0; text-indent: 0">84-0835164</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">(State or other Jurisdiction<BR> of Incorporation)</TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">(Commission File Number)</TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">(I.R.S. Employer<BR> Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; padding: 0; text-indent: 0">1660 Wynkoop Street, Suite 1000, Denver, CO</TD>
    <TD STYLE="font-weight: bold; text-align: center; padding: 0; text-indent: 0"><B>80202-1132</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0">(Address of Principal Executive Offices)</TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant's telephone number, including
area code:<B> 303-573-1660</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>N/A<BR>
</B>(Former name or former address, if changed from last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="width: 96%; padding: 0; text-indent: 0">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="width: 96%; padding: 0; text-indent: 0">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="width: 96%; padding: 0; text-indent: 0">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="width: 96%; padding: 0; text-indent: 0">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Section 1&mdash;Registrant&rsquo;s Business
and Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding: 0; font-weight: bold; text-indent: 0">Item 8.01</TD>
    <TD STYLE="width: 89%; padding: 0; font-weight: bold; text-indent: 0">Other Events.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 14, 2012, Royal Gold, Inc. issued
a press release announcing its second quarter dividend. The press release is filed herewith as Exhibit 99.1 and is incorporated
by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding: 0; font-weight: bold; text-indent: 0">Item 9.01.</TD>
    <TD STYLE="width: 89%; padding: 0; font-weight: bold; text-indent: 0">Financial Statements and Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; padding: 0; text-indent: 0">99.1</TD>
    <TD STYLE="width: 86%; padding: 0; text-indent: 0">Press Release dated March 14, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Royal Gold, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Registrant)</P>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 51%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 4%">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-indent: 0; padding: 0; width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-indent: 0; padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">Date: &nbsp;&nbsp;March 14, 2012</TD>
    <TD STYLE="padding: 0; text-indent: 0">By:</TD>
    <TD STYLE="font-style: italic; text-indent: 0; padding: 0; border-bottom: Black 1pt solid">/s/ Karen Gross</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">Karen Gross</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">Vice President and Corporate Secretary</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding: 0; font-weight: bold; text-decoration: underline; text-indent: 0">Exhibit No.</TD>
    <TD STYLE="width: 85%; padding: 0; font-weight: bold; text-decoration: underline; text-indent: 0">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">99.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Press Release dated March 14, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v305983_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: bold 10pt/18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Royal Gold Announces Second Quarter
Dividend</B></P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>DENVER, COLORADO</B>.
<B>MARCH 14, 2012: ROYAL GOLD, INC. (NASDAQ:RGLD; TSX:RGL)</B>, today announced that its Board of Directors has declared its second
quarter dividend of US$0.15 per share of common stock. The dividend is payable on April 20, 2012 to shareholders of record at the
close of business on April 5, 2012. The quarterly dividend of US$0.15 is also payable to holders of exchangeable shares of<BR>
RG Exchangeco. This dividend is designated as an &ldquo;eligible dividend&rdquo; for Canadian tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Royal Gold is a precious
metals royalty company engaged in the acquisition and management of precious metal royalties and similar interests. The Company&rsquo;s
portfolio consists of 191 properties on six continents, including interests on 38 producing mines and 25 development stage projects.
Royal Gold is publicly traded on the NASDAQ Global Select Market under the symbol &ldquo;RGLD,&rdquo; and on the Toronto Stock
Exchange under the symbol &ldquo;RGL.&rdquo; The Company&rsquo;s website is located at <B>www.royalgold.com</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For further information, please contact:
<B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Karen Gross</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Vice President and Corporate Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(303) 575-6504</P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>* * * END * * *</B></P>



<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!#`0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P``1"`",`G`#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#V:BBB@`HH
MHH`****`"BBH+R[BL;26ZFW>7$I9MJDG`]J`)Z*KM>P+,T1;F--\A[1CU)[=
M*@DUBUB5&?>H9=^2N,+D#<?09(H`OT5F7VO6FG7+07$<P*A&+!05PQ*@YSZC
M'XCUJU!?0SJQYB*-M*R$`Y_/ZC\#0!9HJJ^H6Z744&X'S5=@X8;1M(!!/_`A
M4YFB&XF1!L^]\P^7ZT`/HJ,31&01B5"Y&0NX9(^E5X]3M9'D&\*L4AB:1B`N
M\8^7KUYH`N45&LT3'"RH3G'##KZ4+<0-((UFC+D;@H89QZXH`DHJL;^'[:]H
M,EXU#R'C"`YP3_WR:?)=PQ']Y(JKCEV8!0<@8//7F@":BFB1#G#`[>N.<50&
MN636\<X9]DBEN5P54-M)([#)H`T:*SQK5FSA%+L[$>6H',F21\O_`'R:MV]Q
M'=6\=Q"VZ.10RGV-`$M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%4
MM8CBGTN>VFN4MUN%,7F/V+<?B:NUGZQ;SW-M`MO'YC)<Q2$;@/E5PQZ^PH`I
MS^'[;4GGN!<Y%R#N>/OF,1D9SRO`./44X>'(<./.(67(D4#Y=I8-M7G@9!_,
MU$NFZG'J,LZ.T=O<RF5HH7`,9`0#.1SG:V<=V_&FV^GZV(XQ)=2`@Q;]TV=P
M*;9,>X/S#W'O0!>U?1(=7,9DE>(HKH2G5E8=/P8*WU6JESI=M]HV3W"H39F)
MY)"O[UCD!B/498^GSTL5EJS30_:)Y]HN"9=LP"L@#;<8&<9*Y'M^=E;:ZMM3
MOIUA6XBNU0KE@"A`VE3G^'OQZF@"C+H$<-Q!*;]83YO[M1&-K,50;2,\@^7G
M'O[5./#BK+%*+DEH&)3*\-EBWS\_-UX_.J\FG:W(82TJLT;!F+-E=X+?.!V&
M"./\.9$LM9,\3/-*(E&2@G&2P0=3CD%NWU]<4`16VBQ:?>27%RRI;VS1/',P
M`8D*5/.>!\V,5;NO#T=S?_;3(B2[U8XBXDVL&&\9Y(`P#Z&J$UCKMQ9R02H7
M27?A3.,J3L*Y/<<.,?Y&I86^IQW#M=2AD,;!@6R'?<2"!V&WC'^%`&<NA6`@
M'^GP^6JO$[!0/F8[@P.>&'KSP!4L6GK9S2O9WMFMY'`J2#RP,?-G<1NR,C(J
MM;^'[^&`J=KC8\:HS<J&C"]>ZJ00.^#5A].O99P&M,?9Q&L<QE7]XJ.K'(ZY
M;;W]![T`3:EI]EJMW%OO(4E>)UA*8\QE*E6&<_,O.<>HJ%_#RO.?,O8C,^9-
MIB'/S1'.,],QC_OJGQ6-Y'<6\;68>..:2<2B1?W;N7QQU(4.>G4FK?V.Y_MB
MUN9`DHCMI(Y)0`N2S(1QGI\IH`;IT%IIB,YNX'^T2%4D.`6^8D*3GYB"2*K6
M^C6TL1M5ODE:)&AG"`9VL^_!&>#U'XFA--O?[%CLA$(I!,T@;*E5_>[@".XP
M>WI5RPCN#J5S<3V/D%U"*XD5LJI.!@?[Q/XT`0Q^'XXI894F(>VP("5X5<MP
M>>>&Q^`K1LK5+&SAM8R2L2A03U/O4]%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%5=1TZ#4[7[/<-*J;@V8I6C;(]U(-6J*:=M4)J^C/'/&<
M6J>#?$-M)8ZQ>R0NOFQ+-.S[2#@J<GD=/SKT?PKXGM/%&EBYAPDZ8$\.>4;_
M``/8UF:_:P7WCW1K6ZB66&6TN%=&'!&*X75],U3X;>)([_3W9[.0_NV;[KKW
MC?W_`/UUVVC5@HOXK'%>5&;DOAN>TURGBCPLEQ87U_9:A?VMV$:8>7=/L8@9
MQMS@#Z8K7\/Z_9^(]+2^LVX/$D9/S1MW!JSJG_()O/\`K@__`*":Y8N4)'5)
M1G$Y;P%H@DT6QUF\OKVYNY09!YERY11D@#;G!X]:[2N>\$;O^$&TS9C=]G^7
M=TSD]:R;SQ?K]EXJM_#TEAIYFN0"DHE?9@YZ\9[&KE&52;MT(C*-."\SMZ*Y
MS4;WQ;8V<ES'8:9=>6I8QQS2!B!Z9'-+>:SK(\-P:SI]E:S9M1/+`[L&Y`)V
MD#G`SUJ/9LOVB.BHKD_"_B35_%&DS7T$%A"4<QI&SN2&&#\W'`P:K:%XPUC5
M?$MQHES8V=I+:[C+F1B6P<?+QSU!^E/V4M?(7M8Z>9VM%<QI^M:_>^(+K3#9
MV'DV3()[A9'P=P!VJ,?>Q1'K6OOXI.BBTL&6.(3RSK(_R(3@#&/O&E[-C]HC
MIZ*YV?Q!>7VO3Z-HD,#/:*#=7-P3LC)Z*%'+'\14EK?:[;:]#I^J1V<EO<QN
MT5Q;AE.Y<':5)/;)I<C'SHR_'>B)'HM_K-K>WMM=Q*)/W=RX1N@QMS@<>E<]
M\/-,/B6RO)M2U+4G:&4(FR\=1@C/K7:>.O\`D2=5_P"N']17,_!W_D%:E_UW
M7_T&NF$G[!OS.:<5[=+R#Q/H.L>%[)M8T'7;]HH"#-;W$OF#;GJ,]?H:W_`_
MBO\`X2G27>9%CO+9@DRKT.>C#Z\_E4GCO4;?3_"%^9V4-/$88U/5F;CC^?X5
MS/P@TV>&SO\`49%*Q7!6.+/\6W.3^N/SI?'1<I;H?P5E&.S/2**K7QOA;YT\
M6[39Z3E@I'X5R/AWQ?K_`(CNKVV@L-/@>R8+)YLKG)R1Q@>U<\8.2;70Z)34
M6D^IV]%<S<:QXCT[4["&]TZQ>TN[A86GMY7)0GU!`I_BW7=5\.6+ZE;VMI<6
MD94,KNRR`DXSTQC.*:IMM)=1.HDFWT.CHK$\,:GJFLZ;%J-[;VL$-PF^)(G9
MF'/?(Q6TV=IVXW8XSTJ))Q=F7%\RNA:*XC4?%VOZ;XFM-"EL-/:6[VF.597V
MX)(Y&,]JUKZZ\76EJ\\5AI=T4!/EQS2!C],C&:T=)JU^I"JIWMT.AHJCHU^^
MJ:-9W\D8C>XA61D!R%)'2FZ[J?\`8VB7>HA!(UO&65"<;CT`_.HY7?E+YE;F
M-"BN?\%^(7\2>'H[R?8+E7:.94&`"#QQ]"*WV8*I9B``,DGM1*+B[,49*230
MM%<QI^NZMXD\ZYT6.TM[".0QQSW2L[3$=2%!&%^IJ[HVH:O<3W]EJD%M'=6N
MTQO"6V2JP.&YY'((IN#6XE-/8VJ*XB\\7Z_9>*K?P])8:>9[D`I*)7V8.>O&
M>QK4U&]\6V-G)<QV&F77EJ6,<<T@8@>F1S5.E)6OU)56+O;H='1532KQM0TF
MTO70(UQ"DA4'(!(!Q5NLVK.QHG=7"BBBD,****`"BBB@`K*\0"0VEN(]Y)NX
M0=A8<;AG..V,YK5K.UJZGL[2*2W)#-<Q1D!020SA2!GOS0!C0S:IHTUQ$H>_
M;(4ED8EB(0=P/ID8]_7-6I=8U-)F5+='C0DAQ$W[T;T''/'#-Z_=STJS_;)@
M)@>"::=(&F(&T,=NTE<9P#AA5NSU*.]B$T<3^4\?F))QAER<=\YXSC%`%73=
M2N[MXO/2.,2;LQ['#(0!D$D8X/Y]JKW$DTUO"RAWN5O"VQ693M$N"`1Q]T#K
MVSZYI;S5[JUM;*]!W)-$S-&(\@GRV=1GJ#P/;K[4R74[N*TNI`X!MI8RTB1`
MAE959LC/;)Z<]*`($%Y):3I<-(K26P5R^\#S\MG&WD<8Z?[-:=A/,!.9_,0+
M#$S!_G9'*_,/<C`_.I1=7,EK>B%%>X@=TC!.`QP"O\Q6;;ZK?%[%EC:2*ZV?
M.8U4MG=OW`'@J`.F1[T`%MI[SV,4-P)S-YSJ)DGD4,N>9,;N,@=.F3QQ5FU>
MX35+MX('F@D$>"9&`!RP;AN_3IVQ26NHW;6]VDBDWRR.D<+)A0P4,HW#C!!'
M)QUJ#^U;XZ?)=-OC6&Z5"6B!+)\N[(!Z`EAD>@H`CEN-01+I(/,=3?L"TA88
MC$8(`(&0"PQD>M1R7>K2M/\`Z))%E0$4,=T*`(3[$D%N>N14\.KZA.=2CB16
MF@4F%0!\XWL-RD\'@=#CY@>W-;-C-]HL+>;>9/,C5]Q7:3D9SCM]*`(=)\[[
M-+YN[9Y\GD[NOE[OE_\`K>V*O444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110!RNJ_\E(T+_KUN/Y5O:II=IK.G2V%]$)(
M91@CN#V(/8BL#564?$G05)Y^S7'\JZNM9MI1:[?JS*"3<D^_Z(\3(U;X8^*.
M,S6DOX+<1_T8?I]#7JJZK9ZUX8GO[&420RV[_53M.01V(J37]!L_$6ER6-XO
M!YCD`^:-NS"O((+O5_A]J]YIERA>WGC970'Y95((#K[_`/ZC72K5U?[2_$YG
M?#NWV7^!ZGX%_P"1)TK_`*X?U-<GXHN(;7XMZ1/<2I#$D2%G=@%4?/U)KK/`
MO_(DZ5_UP_J:Y7Q)&DOQ>T>.1%=&B0%6&0?O]JBG_%E\RZG\*/R.MG\6Z,)K
M:VM;^VNY[J=(ECBE#'D\DX[`9K92*..%84C58U7:$`X`],5GW6@Z?<&!X[6"
M&6"9)4D2(`C:<D<>HR/QK161&=D5U+)C<H/*YZ9KGERV]TZ(\U_>/-_"A/A7
MXAZAX><[;:]^>WST_O+^A(^HI?'B2^&?%>G^++2/<K_NYU!P&(&.?JO'_`:L
M_%"PEMAI_B2S&)["4*Y'IG*G\^/^!5-KQ/CRV@TW3Y-L(M/MLK#G]X01%&?Q
MW$_2NM.[51[/1G(U9.FMT[HZ#PQ8G3=!26XD5KBYS=7,N>&=_F//H!@?056\
M'HUW#>Z]*#OU2<O'GJ(5^6,?D,_C7+:#K\^H>`QH0<KJ1G73E!^\$;^+\$##
M_@->CVUO%:6L5M"NV*%`B#T`&!6%1.-T]VS>FU*S6R1YG#K;>!O'VK)JD,GV
M/4Y/-691G`R2"/4?,0:]'L=0LM5MENK&XBN8CT=#G'^!J&_TW2_$-@(KN"*[
MMVY5NN/=2.GX5YS'I<_@/XA:?;6%S(]CJ3A=C'DJ3@@^I&00:NT:J[27XV(O
M*D^\7^%SM_'7_(DZK_UP_J*X7X9Z=JE[I]\VGZV^G*LJAD6W23<<=?FZ5W7C
MK_D2M5_ZX?U%<S\'?^05J7_7=?\`T&G3=J$GYBJ*]>*\CEKB66'QTMIXUEEO
MH8I-A9W*J`?NN`/X>F1_A7M4$4,$"16Z(D2*`BH,*!VQ7&?$KPJ=9TL:E:1[
MKRS4D@#F2/J1]1U'XU6^&/BP:A8C1+R3-U;+^X9CS)&.WU'\OI3J?O::G'IN
MA4_W51PEUV9Z!7EWP^U.PTW7O$!OKV"U#S?+YT@3=AGSC->HUYG\-[6WN=>\
M0BX@BFVS#'F(&Q\[^M9TK>SG?R_,TJW]I"WF=I::[IFM:K)86<L%XMO&LS2(
MP95;=P/KQFLSXF?\B/>?[\?_`*&*V[?1K2TU5[^VBC@,D/E.D:!0V#D$X_&L
M+XD2)+X#NY(W5T9HR&4Y!^<4J=O:1MY#J7]G*_F:/@K_`)$S2O\`KW6MRL/P
M5_R)FE?]>ZUM/(D>W>ZKN.U<G&3Z5G4^-FE/X$>;^,IXK;XHZ%//*D44:(6=
MS@*-[<DUUUSXNT:-H(K;4+6ZGN)DBCBBE#$[F`)X]!DUR?BY$E^*F@I(BNC(
M@*L,@_.U=K>:!I]TD>RTMX98I4E21(@"I5@>,>N,?C6\^7EAS=C"'-S3Y>YH
M111PQK'$BHBC"JHP`*QM9/VW6M,TH<KO-W./]B/[H/U<K^5;0D1G:,.I=0"R
M@\C/3-<C:6-YK^LZEJ]KJ\]C&LOV.+RD1MZ1]3\P/\9;I6,%JVS:;T21D^$"
M?#?Q`U7P\_RP77[ZW!]OF'_CI/\`WS7?WT#75A<6ZG:TL3(#Z$@BO-O&VEW_
M`(<U#2_$K:E/?O!.(W:1$4@=0/E`X/S#\:])6\MS9+>&55@9`X=C@;3T-:5M
M>6:Z_FC*CIS0?3\F>;>!?%UOX<BD\-Z\K6<D$K;)''RC)Y#>G/0].:]-BDBF
M19H721'&5=""&'UK(U_PII'B.+%];#S@,).G$B_CW^AKD/`'V[0?%^I>%IIS
M-;1(9$]`>,$#MD-R/6G)1JISCH^J"+E2:A+5=!OBBXAM?BWI$]Q*D421(6=V
M`51\_4FNOG\6Z,)K:VM;^VNY[J=8ECBE#'D\DX[`9KDO$D:2_%_1XY$5T:)`
M589!^_VKMKK0=/N#!)':P0RV\Z2I(D0!&TY(X]1D?C3J<MH<W85/FO+E[FA'
M&D,2Q1($1``JJ,`#TI]-61&=D5U+)C<H/*YZ9IU<IU!1110`4444`%%%%`!6
M?K-S#:VD4L]O',GVB-<2'`0E@`W0]"<UH56O;*.^B2.1W0)*DH*'!RIR/U%`
M%!KO1O,\RZ2V6XD`9L+O)!&1SCG(7/X>U2I=:5`Y:V-LLCA3D#;N5F'<#G);
M\S[TYM%@><SO/.TA96R6'4!@.WHY_2H4\-V<>W$]R=BJB[I`<!2I`Z>J#]:`
M%TV>RDL/M`BACEAC)92V2B@L!DXSC"FHYM2T:WM7D"P,UM&9/+1<XP%)QQ[K
M^E78-+B@M9+999C%(A3:S#Y<DDD<=?F_056;PY9M&4\V?#!@?G'0JJGMZ(*`
M$DU#3H+0I(8I9'?)C!X:0L,X)]"1GTI+?6--DSYJ)#NQ$I*$;\C.T`C/3FB7
M2]-DO!:2B1G9))D!/";G4L0>QW8-/?3K'3;47),@2S+3G8!DX0@\`<\$T`2K
MJ&E1QB%)HE1N`H'#<$_B,*W/?!J&ZO["-H1&D,K1R1H01CRU8XR./4?I[5"V
MEV*W%K9(&9BB.N\GY8HCD*"/=P.>H)J:;08))99Q/,99&##>^0"&+*.G0%CQ
MZ4`.%YHDBN=]N1NW/\OL#D\=,,#GI\WO3?[:5;>,^6@D:Z^S^6&Z+YICW=/;
M-0V?AM(X#%<SNX,1BV@C[A`#`G`R#M'N,=:G'AZT6;S4EN%)<.RAQAB)#(,\
M=F)_`T`79;ZUA<I),%8=?KQQ]>1QUYJ%M:TU6"F[3+8P!D]<X'URK#'L:B70
MH%\S-Q<N)&21@T@/[Q<8?IU^4>W'2A=!M$E\U7F#%UD/S=6#,V>G<NU`&A%+
M'/"DT3AXY%#*PZ$'H:?4-I;)96<-K$6,<*!%W')P!@5-0`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`5!>&Z%K(;)86N,?()B0F?<CFIZ
M*`//]0\)^,-0\10:ZVI:;%<6P`A1`Y11SD<CG.3FNQTLZN8W_M=+)7&-AM68
M@^N=PXJ_16DJCDK,SC347=!6'XK\+VOBC3#;RXCN(\F"?'*-_@>XK<HJ(R<7
M=%RBI*S,GPWIUSI'AFSL)Q&;BWBVD!OE)R>]<OJ?A/Q1J/BJW\0+-ID,MMM$
M<6]V&!G@G;WR:[ZBKC4<6VNI$J:DDGT,-Y/%ACQ';:0K^K3RD?EMJ7P[IM]I
M]I.^J3QSWUS.TLTD6=O8*!GL``*UZ*3EI:PU'6]RGJVG1:OI-UI\WW+B,IGT
M/8_@<&LGP1X;;PSH(MI]K7<KEYV4Y&>@`/H!C]:Z*BESM1Y>@W!.7-U.4T_P
M8ECX[O->&SR)8]T2`\K*WWSC\_\`OJNKHHHE)RW",%'8Y;3[+Q+H,UQ;P0VF
MHV$DSR0*9C%)"&8G;R"".:?:^';R^\11Z_KKP^;;IMM;6`DI#[ECC<W/I734
M57M&3[-'+^*M*\2:[:7&FVDNG6]E-@%W+F1EX.#Q@<UD^%_"?BGPIYZVMSI=
MQ%.0724R#!'<$"N^HIJK)1Y>@G2BY<W409VC=C/?%>=:U\,[QO$']J>'[Z&R
M!;S`K;@8W[[<#I[5Z-12A4E!WB.=.,U:1B6?_"516+I>#2[BY7`1T=T5NN2P
MVGVZ>_2N<\-^$_%'AS4;N\CFTRX^V',J,\B\Y)R#M]S7?44U5:326XG23:;>
MQS6IP>,;^SDMK9M*L_-7:TJR2.Z@]<?*`#4/B?P[JNJ:"FA:;]BAM%2-3)*[
M;L+C@`+CL.<UU=%)5&FK+8;IIIIO<Y/0=.\6Z)I4.G-_9-S'`-L;&216`]#\
MO-68]/\`$5YKEM>:I)8):6@9X[>W9R6D((!8D=@371T4.HVV[`J:22N<%K/A
M3Q/JWB:UUQ9M,@DM-OE1[W8<$GD[>^:Z)I/%9CPMMI`?U,\I'Y;:VZ*;J-I)
MK82II-M/<Y>UTOQ+9Z;=NL]A+JM],SR3LSA(UVA5"C&3@#H:L>$M+U71-+BT
MR^%I)%"&(FAD8LQ+9Y!'N><UT%%)U&U8:II.YS_C'1]0U_1Y-,LUM`DN"TL[
ML"A!!&``<]*K:1H6M0^&9=`U26TDA^S/#%/$S%AD8&00.F?7L*ZFBA5&H\H.
MFG+F.:L'\7V-DMG<6=C?2QKM6Z%R4##L67:3GZ5)H'AN72KF]U6\G2[U:^.9
M'`*HH[(O?'3GV%=#10ZCUMU!06E^AP.I^$_%&H^*[?Q`LVF0RVVT1Q;W88&>
M"=O?)KHGD\6&/$=MI"OCJT\I'Y;:W**;J-VNMA*FE>SW,CP[IM]I]G.^J3QS
MWUS.TLTD6=O8*!GL``*UZ**S;N[FB5E8****0PHHHH`****`"J>IV)O[41I)
MY4B.KH^,X(/IWR,C\:N44`<\_A8O916XO&#INC,N/F:/&%'U&U.?8^M/N/#L
MLLD4T=X(I553(0G#R!L[L9Z$,XQ[CTK>HH`Q)=#FGF>5GA0B)(XMH;Y0KDXZ
M]&4A3^-,31)DO&99#N,4A.X$QABQ,8'.?ERWYBMZB@#EY]"OX8D9)(Y")&X4
M$A0TBOR.X&",>_2GIX=NI=/,1D6W+(0!N+%1Y9CV9[J?O?4_C72T4`8D&DW\
M%_\`:1/;NRB159E.XJ[JV#_NA2!^%1_V#=O;K'+<PF01/$TBJP+9P!*>?OC'
MZFM^B@#GO^$;F$OFB:/?O+[CG.?.$@_3*_C70T44`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%0WEU%8V<
MUW.VV*!"[GV`S0!@^(/%G]FZA%H^F6AU#5IQE80V%C'JY[55D_X29"#?>*=)
MT^9N1;K;@@>V68$UR6G:I-IN@ZQXSF`%_JDQ@L\C.T9Y(]AC_P`=JU`FGZ`M
ME83Z$->\1:C&)IQ.0Q7=S@E@<?\`ULFNWV2CHOZ[[]$<7M7+5_UVVZLZVVUW
M4M,N(;?Q##`89V"0ZC:D^4S'H'!Y4GL>E=)7"6<5N5DLS82V-I<RBTO],D;<
ML+./DDC/0`G`XX_$5U'AV::?0+1KAM\RH8W8_P`14E2?QQ6%2*6J-Z<F]&:=
M%%%8FP4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!7#_`!,U&5K&T\/V9S=:I,%*C^X"/YG'Y&NWZ5Y?;:G'J7BO
M6?%UQ\UCHT1CM0>C-R%Q]>3_`,"%;T(^]S=OSZ&%>7N\O?\`+J+=VMM?>+]-
M\/H1_9?AVW\VY;L2H!8G\<#\34O@^_@N_$-WXIU)MAU&Z^Q6(;Z9_D%'XUA"
M2XL/!4MPV7U3Q/<E5_O&('G\R?UJAXNN?[/N[#1+.3":-&%+*>LY^9V_/`_"
MNU0YO=^7^?XG$Y\OO?/_`"_`]"O+V275)IQ"2[7$>(0023'DQQY'&\N=Q`^Z
MHYKJ=*LCI^EV]JS;WC3YV'\3'EC^9-9_AF>RUC3;?78XP;BXCP[$YV-T95_N
MC(/3K5'Q]>7%AIVG7%O>S6F[4H(96B;&8W;#`_A7!4E]GL=]./VNYU5%<;HW
MB!H)M?OI+Z6\\/V*JT%S(`6W@'S44\%@#CKW.,UI7FOWNEV=MJ&H6<4=G.Z)
M)L<E[;>0%+<8(R0#CIGO61J=!17-6WB:\FFN=,DLX8M8@N!&ML9"5>(\B4-C
M[N,]N",=:NMKNSQ3'HSP8CE@9DN,\&5<%H\>NU@U`&Q163I>K7%]K&JV,L$2
M)I\J1JZN27W('R1CC@XK,TF[NO$^L:K*]W-;Z?IUVUG#!`^PR.H&]W8<]3@`
M8''>@#J:*P)=070;=R;U]1^T7,<5I"S@N'?@(6],@G)Y`SUQ4LFLW5CJ]IIV
MH01*;\.+:>)B4\Q1N*,#R.,D'O@]*`-JBL?P_J]SK6@#47@BAD=I%2,.67Y6
M*\G'<K6=:>+;G^PK#7+^RCCL;LH'>*4LUOO.T%@0,KD@$CIGI0!U-%<QX]N+
MJST2WGL[N>UD-]!$6B;&5>158'\#5C_A(OL/B,:-J$'E0RA5M;S>661R#^[;
M/W7(&1Z_7B@#?HK`/B&YCECM'M8GO;F[DM[>-)#M(099V)'``],]AWK4M9+_
M`,]X[N&$(%!26)C@GG((/(QQ^=`%NBBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`HZS;7=YH]U:V,R0W$T91)'SA<\$\>V:X^;X>7G_"(VF@6U]!&//,UY(5/
M[T]@/8#U]!7?45I&I*&QG*G&6YR$O@RXE\4VFI^?!]CTZ`1V=L0?E95^4M^/
M/X"N6G^$FLW-Q)/-JUHTDK%W8JW))R:]8HJXXBI'8B6'IRW1R_@?PUJ/A>SN
M+.[O(;B%W$D8C!!0XP>OK@5:\5Z-?:W:V4-D]NAMKV*Z8S%AGRVW`#`/7UK>
MHK*4G)W9K&*BK(Y.Z\'2RWVI)#-$NE:U$1?VI)!28C'FQG&,GN#U(!JW/HNI
M:GI-OI.IS6[01O&9YH\[KA4(8#:1\N2HSR>^*Z&BI*,=M+N_^$O&L`P?9Q8F
MVVDG?G?NSTQCM6;<^&+V>.VOD-LFKP7_`-J,OF.8RN2"N,=T.WIVKJJ*`.>M
M=,UFRU76+R'["1J$B/'N=\Q[4"<C;STSVHM]#O='UN]OM*>&6VU%Q+<6DQ*;
M9<8+HP!^\`,@CMUKH:*`.-@\#2BVU"1I[>WO+C4UU&V:%,K`Z@;5/3<.#GI]
MXUL2Z7=ZCJ5C>WX@0:>6DBBB<L'E*E=Q)`P`"<#'?VK:HH`YW0=*UK1]'ATY
MC8N(Y)&:0._S!F9@`-O'+`9JI:>%M0;PQ8^']0GMA:V^SSVAW%I@C;@O(&T$
M@9ZUUM%`')ZGINN^)?#5O!.EE;W27JS.<N$98Y-RD`C(W`#KTS6E/HK:I)J$
M&JP6\EE>1HH5';>"N><X&#DY!'(Q6U10!RD7A34;>ULI5U07&I:?=22Q7$Z<
M31N-I23'<KCYAW&?:N@M?[0:=WNQ!'%M`2.-BQSSDEB![8&*MT4`%%%%`!11
M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%
M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`
7%%%%`!1110`4444`%%%%`!1110!__]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
