Exhibit 23.2


              NOTICE REGARDING ABSENCE OF CONSENT OF ARTHUR ANDERSEN LLP

Section 11(a) of the Securities Act of 1933, as amended (the "Securities  Act"),
provides  that if any part of a  registration  statement  at the time  such part
becomes effective contains an untrue statement of a material fact or an omission
to state a material fact required to be stated  therein or necessary to make the
statements  therein not misleading,  any person acquiring a security pursuant to
such  registration  statement  (unless  it is  proved  that at the  time of such
acquisition such person knew of such untruth or omission) may sue, among others,
every  accountant who has consented to be named as having  prepared or certified
any part of the registration  statement,  or as having prepared or certified any
report or valuation which is used in connection with the registration statement,
with  respect  to the  statement  in  such  registration  statement,  report  or
valuation which purports to have been prepared or certified by the accountant.

This Form  10-K to which  this  Exhibit  23.2 is  attached  is  incorporated  by
reference into Royal  Precision,  Inc  Registration  Statements on Form S-8 Nos.
333-35605, 33-66381, and 333-47466 (collectively, the "Registration Statements")
and, for purposes of  determining  any liability  under the  Securities  Act, is
deemed to be a new registration  statement for each Registration  Statement into
which it is incorporated by reference.

On January 25, 2002,  Royal  Precision,  Inc. (the "Company")  received a letter
from  Arthur  Andersen  LLP   ("Andersen")   stating  that  the   client-auditor
relationship would cease upon the completion of the third quarter review for the
quarter ending  February 28, 2002.  The Company  received a letter from Andersen
dated April 8, 2002  stating  that  Andersen  is  amending  its January 25, 2002
letter and confirming that the client-auditor  relationship  between the Company
and  Andersen  is  ceasing  immediately  and that the  quarterly  review for the
quarter ending February 28, 2002 would not be conducted by Andersen.  The letter
by Andersen reflects Andersen's resignation. The Company appointed Ernst & Young
LLP on May 24, 2002 to replace Andersen. The Company's understanding is that the
staff of the Securities  and Exchange  Commission has taken the position that it
will not accept consents from Andersen if the engagement partner and the manager
for the Company audit are no longer  employed by Andersen.  Both the  engagement
partner  and the  manager  for the  Company  audit  are no  longer  employed  by
Andersen. As a result, the Company has been unable, after reasonable efforts, to
obtain  Andersen's  written consent to the  incorporation  by reference into the
Registration  Statements  of  Andersen's  audit  report  with  respect  to Royal
Precision,  Inc.  financial  statements  as of May 31, 2001 and 2000 and for the
years then ended. Under these circumstances,  Rule 437a under the Securities Act
permits the Company to file the Form 10-K to which this Exhibit 23.2 is attached
without a written consent from Andersen. As a result, however, Andersen will not
have any  liability  under Section  11(a) of the  Securities  Act for any untrue
statements of a material fact contained in the financial  statements  audited by
Andersen or any  omissions  of a material  fact  required to be stated  therein.
Accordingly,  you (a person acquiring securities of the Company) would be unable
to assert a claim against Andersen under Section 11(a) of the Securities Act for
any purchases of securities under the  Registration  Statements made on or after
the date of the Form 10-K to which this Exhibit 23.2 is attached.  To the extent
provided in Section  11(b)(3)(C) of the Securities Act,  however,  other persons
who are  liable  under  Section  11(a)  of the  Securities  Act,  including  the
Company's  officers and directors,  may still rely on Andersen's  original audit
reports as being made by an expert for purposes of  establishing a due diligence
defense under Section 11(b) of the Securities Act.