SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C.

                               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): JANUARY 26, 2007

                      U.S. GLOBAL INVESTORS, INC.
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        (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)



         TEXAS                       0-13928                   74-1598370
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  (STATE OR OTHER JURIS-           (COMMISSION                (IRS EMPLOYER
 DICTION OF INCORPORATION)         FILE NUMBER)            IDENTIFICATION NO.)



       7900 CALLAGHAN ROAD, SAN ANTONIO, TEXAS                   78229
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       (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)               (ZIP CODE)



REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 210-308-1234



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         (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)



ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

         ON JANUARY 26, 2007, U.S. GLOBAL INVESTORS, INC. ISSUED A PRESS
RELEASE REPORTING THE PERFORMANCE FEE TO DATE ACCRUING TO U.S. GLOBAL
INVESTORS, INC. FOR SERVING AS EQUITY INVESTMENT MANAGER FOR ENDEAVOUR MINING
CAPITAL. A COPY OF THE PRESS RELEASE IS ATTACHED AND BEING FURNISHED AS
EXHIBIT 99.




                              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.


                                     U.S. GLOBAL INVESTORS, INC.



                                     BY: /s/ Susan B. McGee
                                        ---------------------------------
                                        SUSAN B. MCGEE
                                        PRESIDENT/GENERAL COUNSEL

DATED: JANUARY 26, 2007