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Note 8 - Investment in Peak Gold, LLC
12 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Equity Method Investments and Joint Ventures Disclosure [Text Block]
8.
Investment in Peak Gold, LLC
 
The Company recorded its investment at the historical book value of the assets contributed to the Joint Venture Company which was approximately
$1.4
million. As of
 
June 30, 2018,
Royal Gold has contributed approximately
$31.7
 million to the Joint Venture Company, and earned a cumulative interest of approximately
40.0%.
  Therefore, as of 
June 30, 2018,
the Company holds a
60.0%
 interest in the Joint Venture Company. As of
June 30, 2017,
the Company held a 
70.5%
 interest in the Joint Venture Company. The Royal Gold Initial Contribution did
not
entitle Royal Gold to a percentage interest in the Joint Venture Company.  During fiscal year
2018
the Company contributed
$2.6
million to the Joint Venture Company.  The Company did
not
make any contributions during fiscal year
2017.
 
The following table is a roll-forward of our investment in the Joint Venture Company from
January 8, 2015 (
inception) to
June 30, 2018:
 
   
Investment
 
   
in Peak Gold, LLC
 
Investment balance at June 30, 2014
  $
 
Investment in Peak Gold, LLC, at Inception January 8, 2015
   
1,433,886
 
Loss from equity investment in Peak Gold, LLC
   
(1,433,886
)
Investment balance at June 30, 2015
  $
 
Investment in Peak Gold, LLC    
 
Loss from equity investment in Peak Gold, LLC    
 
Investment balance at June 30, 2016   $
 
Investment in Peak Gold, LLC    
 
Loss from equity investment in Peak Gold, LLC    
 
Investment balance at June 30, 2017   $
 
Investment in Peak Gold, LLC
   
2,580,000
 
Loss from equity investment in Peak Gold, LLC
   
(2,580,000
)
Investment balance at June 30, 2018
  $
 
 
   
The following table presents the condensed balance sheet for Peak Gold, LLC as of
June 30, 2018 
and
2017:
 
   
June 30, 2018
   
June 30, 2017
 
ASSETS
               
Cash and cash equivalents
  $
2,628,195
    $
58,955
 
Mineral properties
   
1,433,886
     
1,433,886
 
TOTAL ASSETS
  $
4,062,081
    $
1,492,841
 
                 
LIABILITIES AND MEMBERS' (DEFICIT) EQUITY
               
Accounts payable and other liabilities
  $
2,403,257
    $
1,754,009
 
TOTAL LIABILITIES
   
2,403,257
     
1,754,009
 
                 
MEMBERS' (DEFICIT) EQUITY
   
1,658,824
     
(261,168
)
TOTAL LIABILITIES AND MEMBERS' (DEFICIT) EQUITY
  $
4,062,081
    $
1,492,841
 
 
 
The Company's share of the Joint Venture Company's results of operations for the year ended
 
June 30, 2018 
was a loss of
$5.8
million. The Company's share in the results of operations for the year ended
June 30, 2017 
was a loss of 
$10.3
million.  The Peak Gold, LLC loss does
not
include any provisions related to income taxes as Peak Gold, LLC is treated as a partnership for income tax purposes. As of 
June 30, 2018 
and
June 30, 2017,
the Company's share of the Joint Venture Company's inception-to-date cumulative loss of
$27.0
 million and
$21.2
million, respectively, exceeds the sum of the historical book value of our initial investment in Peak Gold, LLC, of
$1.4
million and our subsequent contributions of
$2.6
million. Therefore, the investment in Peak Gold, LLC had a balance of
zero
as of 
June 30, 2018. 
The investment also had a balance of
zero
 at 
June 30, 2017.
The Company is currently
not
obligated to make additional capital contributions to the Joint Venture Company and therefore only records losses up to the point of its cumulative investment which is
$4.0
million. The portion of the cumulative loss that exceeds the Company's investment will be suspended and recognized against earnings, if any, from the Company's investment in the Joint Venture Company in future periods. The suspended losses for the period from inception to 
June 
30,
2018
 are
$22.9
million. 
 
The following table presents the condensed results of operations for Peak Gold, LLC for the periods ended
June 30, 2018 
and
2017:
 
   
Year Ended
   
Year Ended
   
Period from Inception January 8, 2015 to
 
   
June 30, 2018
   
June 30, 2017
   
June 30, 2018
 
                   
EXPENSES:
                       
Exploration expense
  $
7,652,107
    $
11,326,289
    $
28,510,255
 
General and administrative
   
1,741,791
     
2,034,507
     
5,578,697
 
Total expenses
   
9,393,898
     
13,360,796
     
34,088,952
 
NET LOSS
  $
9,393,898
    $
13,360,796
    $
34,088,952