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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>UNITED STATES</B></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>WASHINGTON, D.C. 20549</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>FORM 8-K</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>CURRENT REPORT</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>Pursuant to Section 13 or 15(d) of the</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>Securities Exchange Act of 1934</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>Date of Report (Date of earliest event reported) October 16, 2003</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>GOLDEN CYCLE GOLD CORPORATION</B></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>______________________________________________________</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>(Exact name of registrant as specified in its charter)</P>
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<TABLE style="margin-left:36pt"><TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=244.8><P style="margin:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center><B><U>Colorado</U></B></P>
</TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=244.8><P style="margin:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center><B><U>0-11226</U></B></P>
</TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=244.8><P style="margin:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center><B><U>84-1630963</U></B></P>
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<TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=244.8><P style="margin:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>(State or other jurisdiction of incorporation)</P>
</TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=244.8><P style="margin:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>(Commission File Number)</P>
</TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=244.8><P style="margin:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>(I.R.S. Employer Identification No.)</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>____<U>1515 South Tejon, Suite 201, Colorado Springs, CO &nbsp;80906</U>__</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>(Address of principal executive offices, including zip code)</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>_______________<U>(719) 471-9013</U>_______________</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>(Registrant&#146;s telephone number, including area code)</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-11pt; padding:0pt; text-indent:0pt; line-height:11pt; font-size:11pt" align=justify><B>ITEM 4.</B></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:54pt; line-height:11pt; font-size:11pt" align=justify><B><U>CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS</U></B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=justify>On October 16, 2003, the Golden Cycle Gold Corporation (the &#147;Registrant&#148;) informed KPMG, LLP (&quot;KPMG&quot;), the Registrant's independent accountants for the years ended December 31, 2002 &amp; 2001, that KPMG had been terminated as the Registrant's accountants effective immediately. &nbsp;Also on October 16, 2003, the Registrant retained Ehrhardt, Keefe, Steiner &amp; Hottman, PC (&quot;EKS&amp;H&quot;) to serve as the Registrant's independent accountants and to audit the Registrant's financial statements for the year ended December 31, 2003.</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=justify>The decision to terminate KPMG as the Registrant's independent accounts was approved by the Registrant's Board of Directors. &nbsp;The Board of Directors expressed its satisfaction with the services and support that the Denver, Colorado offices of KPMG provided. &nbsp;The Board of Directors determined the best course of action for the Registrant was to engage a new auditing firm.</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=justify>There is not now, nor has there been a disagreement between the Registrant and KPMG on the Registrant's accounting or financial statements. &nbsp;There was no qualification, modification or explanatory paragraph included in KPMG's audit reports on the Consolidated Financial Statements of the Registrant for the years ended December 31, 2002 or 2001.</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-11pt; padding:0pt; text-indent:0pt; line-height:11pt; font-size:11pt" align=justify><B>ITEM 7.</B></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:54pt; line-height:11pt; font-size:11pt" align=justify><B><U>FINANCIAL STATEMENTS, PRO-FORMA FINANCIAL INFORMATION AND EXHIBITS</U></B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-11pt; padding:0pt; text-indent:54pt; line-height:11pt; font-size:11pt" align=justify>(A)</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:81pt; line-height:11pt; font-size:11pt" align=justify>Not applicable</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-11pt; padding:0pt; text-indent:54pt; line-height:11pt; font-size:11pt" align=justify>(B)</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:81pt; line-height:11pt; font-size:11pt" align=justify>Not applicable</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-11pt; padding:0pt; text-indent:54pt; line-height:11pt; font-size:11pt" align=justify>(C)</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:81pt; line-height:11pt; font-size:11pt" align=justify>Exhibits</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-11pt; padding:0pt; text-indent:81pt; line-height:11pt; font-size:11pt" align=justify>(1)</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:108pt; line-height:11pt; font-size:11pt" align=justify>Letter dated October 22, 2003 of Golden Cycle Gold Corporation to KPMG.</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-11pt; padding-left:108pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-27pt; line-height:11pt; font-size:11pt" align=justify>(2)</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding-left:108pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:11pt; font-size:11pt" align=justify>Letter dated October 28, 2003 of KPMG to the Securities and Exchange Commission required pursuant to Item 304(a)(3) of Regulation S-K.</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=center><B>SIGNATURES</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:11pt; font-size:11pt" align=justify>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>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:324pt; line-height:11pt; font-size:11pt" align=justify>GOLDEN CYCLE GOLD CORPORATION</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-11pt; padding:0pt; text-indent:0pt; line-height:11pt; font-size:11pt" align=justify>Date: October 28, 2003</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:324pt; line-height:11pt; font-size:11pt" align=justify>By: <U>/s/ R. Herbert Hampton</U>______________</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=right>EXHIBIT 1</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">October 22, 2003</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">KPMG, LLP</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">2700 MCI Tower</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">707 Seventeenth Street</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">Denver, CO 80202</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">ATTN: &nbsp;Sheri Pearce, Partner</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt"><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">2003 Audit Engagement</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt"><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">Dear Ms. Pearce;</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt"><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=justify>The Golden Cycle Gold Corporation Board of Directors has elected to terminate the services of KPMG, LLP as the company's accountants effective immediately. &nbsp;On behalf of the Board of Directors of the Golden Cycle Gold Corporation I want to thank you and your staff for the support and quality services that you have been providing to us for the past ten years. &nbsp;Because of the company's limited budget it was no longer cost effective to engage the services of an international auditing firm. &nbsp;This is the sole reason for our migration to a smaller auditing firm.</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=justify><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=justify>The Golden Cycle Gold Corporation Board of Directors has engaged the services of Ehrhardt, Keefe, Steiner &amp; Hottman (&quot;EKS&amp;H&quot;) to serve as our independent accountants for the year ending December 31, 2003. &nbsp;Mr. Kreg Brown of EKS&amp;H may be contacting you regarding the transition.</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=justify><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=justify>Again we thank you for your past services and hope that someday we will again need your level of services.</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=justify><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">Sincerely,</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt"><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">S/S//</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt"><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">Robert T. Thul</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">Audit Committee Chairman</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">Golden Cycle Gold Corporation</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt"><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt">Copy: Herbert R. Hampton, President, Golden Cycle Gold Corporation</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=right>EXHIBIT 2</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=right><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt">KPMG</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt">Suite 2700</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt">707 Seventeenth Street</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt">Denver, CO 80202</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt"><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt"><BR></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt">October 28, 2003</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt">Securities and Exchange Commission</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt">Washington, DC 20549</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt"><BR></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt">Ladies and Gentlemen:</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt"><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=justify>We were previously principal accountants for Golden Cycle Gold Corporation and, under the date of March 21, 2003, we reported on the consolidated financial statements of Golden Cycle Gold Corporation and subsidiaries as of and for the years ended December 31, 2002 and 2001. &nbsp;On October 16, 2003, our appointment as principal accountants was terminated. &nbsp;We have read Golden Cycle Gold Corporation&#146;s statements included under Item 4 of its Form 8-K dated October 16, 2003, and we agree with such statements, except that we are not in a position to agree or disagree with Golden Cycle Gold Corporation&#146;s statement that the change was approved by the bard of directors and we are not in a position to agree or disagree with Golden Cycle Gold Corporation&#146;s stated comments by the board of directors.</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=justify>Very truly yours,</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=justify><BR></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt" align=justify>KPMG LLP</P>
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UNITED STATES
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 16, 2003
GOLDEN CYCLE GOLD CORPORATION
______________________________________________________
(Exact name of registrant as specified in its charter)
Colorado
0-11226
84-1630963
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
____
1515 South Tejon, Suite 201, Colorado Springs, CO  80906
__
(Address of principal executive offices, including zip code)
_______________
(719) 471-9013
_______________
(Registrant's telephone number, including area code)
ITEM 4.
CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS
On October 16, 2003, the Golden Cycle Gold Corporation (the "Registrant") informed KPMG, LLP ("KPMG"), the Registrant's independent accountants for the years ended December 31, 2002 & 2001, that KPMG had been terminated as the Registrant's accountants effective immediately.  Also on October 16, 2003, the Registrant retained Ehrhardt, Keefe, Steiner & Hottman, PC ("EKS&H") to serve as the Registrant's independent accountants and to audit the Registrant's financial statements for the year ended December 31, 2003.
The decision to terminate KPMG as the Registrant's independent accounts was approved by the Registrant's Board of Directors.  The Board of Directors expressed its satisfaction with the services and support that the Denver, Colorado offices of KPMG provided.  The Board of Directors determined the best course of action for the Registrant was to engage a new auditing firm.
There is not now, nor has there been a disagreement between the Registrant and KPMG on the Registrant's accounting or financial statements.  There was no qualification, modification or explanatory paragraph included in KPMG's audit reports on the Consolidated Financial Statements of the Registrant for the years ended December 31, 2002 or 2001.
ITEM 7.
FINANCIAL STATEMENTS, PRO-FORMA FINANCIAL INFORMATION AND EXHIBITS
(A)
Not applicable
(B)
Not applicable
(C)
Exhibits
(1)
Letter dated October 22, 2003 of Golden Cycle Gold Corporation to KPMG.
(2)
Letter dated October 28, 2003 of KPMG to the Securities and Exchange Commission required pursuant to Item 304(a)(3) of Regulation S-K.
SIGNATURES
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.
GOLDEN CYCLE GOLD CORPORATION
Date: October 28, 2003
By:
/s/ R. Herbert Hampton
______________
R. Herbert Hampton
President
EXHIBIT 1
October 22, 2003
KPMG, LLP
2700 MCI Tower
707 Seventeenth Street
Denver, CO 80202
ATTN:  Sheri Pearce, Partner
2003 Audit Engagement
Dear Ms. Pearce;
The Golden Cycle Gold Corporation Board of Directors has elected to terminate the services of KPMG, LLP as the company's accountants effective immediately.  On behalf of the Board of Directors of the Golden Cycle Gold Corporation I want to thank you and your staff for the support and quality services that you have been providing to us for the past ten years.  Because of the company's limited budget it was no longer cost effective to engage the services of an international auditing firm.  This is the sole reason for our migration to a smaller auditing firm.
The Golden Cycle Gold Corporation Board of Directors has engaged the services of Ehrhardt, Keefe, Steiner & Hottman ("EKS&H") to serve as our independent accountants for the year ending December 31, 2003.  Mr. Kreg Brown of EKS&H may be contacting you regarding the transition.
Again we thank you for your past services and hope that someday we will again need your level of services.
Sincerely,
S/S//
Robert T. Thul
Audit Committee Chairman
Golden Cycle Gold Corporation
Copy: Herbert R. Hampton, President, Golden Cycle Gold Corporation
EXHIBIT 2
KPMG
Suite 2700
707 Seventeenth Street
Denver, CO 80202
October 28, 2003
Securities and Exchange Commission
Washington, DC 20549
Ladies and Gentlemen:
We were previously principal accountants for Golden Cycle Gold Corporation and, under the date of March 21, 2003, we reported on the consolidated financial statements of Golden Cycle Gold Corporation and subsidiaries as of and for the years ended December 31, 2002 and 2001.  On October 16, 2003, our appointment as principal accountants was terminated.  We have read Golden Cycle Gold Corporation's statements included under Item 4 of its Form 8-K dated October 16, 2003, and we agree with such statements, except that we are not in a position to agree or disagree with Golden Cycle Gold Corporation's statement that the change was approved by the bard of directors and we are not in a position to agree or disagree with Golden Cycle Gold Corporation's stated comments by the board of directors.
Very truly yours,
KPMG LLP