SANDSTORM GOLD -- ehemals --Sandstorm Resources (Seite 10)
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ISIN: CA80013R2063 · WKN: A1JX9B · Symbol: SAND
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Antwort auf Beitrag Nr.: 60.290.430 von KleinerInvestor am 05.04.19 17:57:40Royalties sind mMn eine der besseren Businesses im Gold/Mining-Sektor auf lange Sicht ->
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An sich schon, m.M.n..
ABER
So ein Royalty, oder auch Streaming, "Business" muss man, auch, erstmal zum "LAUFEN" kriegen.
Und Das ist würde ich sagen gar nicht "soso" einfach.
Dafür bedarf Es m.E., Ein paar Bestimmte Faktoren, Die zusammenkommen.
Und; oder auch ein bisschen Das supportend;
Die Allerallermeisten; Was ja nicht So Viele sind; Erfolgreichen Firmen in Diesem Geschäft haben, Was ich gesehen habe,
meistens, am Anfang auch mal "Ordentlich Glück gehabt, mit Einer Royalty(oder Ähnlichem Equivalent).
Also, in So Eine Royalty investiert, oder auch 2 oder 3,
Die sich rückwirkend im Prinzip als Eine Art "Goldene Gans" rausgestellt hat.
Und an, vor Allem, Der, oder Denen, Die sich dann "hochgearbeitet" haben.
______________________________________________________________________
An sich schon, m.M.n..
ABER
So ein Royalty, oder auch Streaming, "Business" muss man, auch, erstmal zum "LAUFEN" kriegen.
Und Das ist würde ich sagen gar nicht "soso" einfach.
Dafür bedarf Es m.E., Ein paar Bestimmte Faktoren, Die zusammenkommen.
Und; oder auch ein bisschen Das supportend;
Die Allerallermeisten; Was ja nicht So Viele sind; Erfolgreichen Firmen in Diesem Geschäft haben, Was ich gesehen habe,
meistens, am Anfang auch mal "Ordentlich Glück gehabt, mit Einer Royalty(oder Ähnlichem Equivalent).
Also, in So Eine Royalty investiert, oder auch 2 oder 3,
Die sich rückwirkend im Prinzip als Eine Art "Goldene Gans" rausgestellt hat.
Und an, vor Allem, Der, oder Denen, Die sich dann "hochgearbeitet" haben.
Antwort auf Beitrag Nr.: 60.290.292 von Popeye82 am 05.04.19 17:41:41Gibt auch auf SA eine gute Analyse zu dem Deal:
https://seekingalpha.com/article/4252894-sandstorm-gold-upda…
Royalties sind mMn eine der besseren Businesses im Gold/Mining-Sektor auf lange Sicht -> attraktive Zinsmaschinen mit eingebauten Hedge (Gold) falls der breite Markt mal fällt, kann man ganz gut bei Franco sehen die Outperformance in der Krise 2008/2009. SSL hat meiner Meinung aber ein deutich besseres Wachstumspotential.
https://seekingalpha.com/article/4252894-sandstorm-gold-upda…
Royalties sind mMn eine der besseren Businesses im Gold/Mining-Sektor auf lange Sicht -> attraktive Zinsmaschinen mit eingebauten Hedge (Gold) falls der breite Markt mal fällt, kann man ganz gut bei Franco sehen die Outperformance in der Krise 2008/2009. SSL hat meiner Meinung aber ein deutich besseres Wachstumspotential.
neuer deal und weitere zukäufe beim übernahmekandidaten entree gold
SANDSTORM GOLD ROYALTIES ANNOUNCES GOLD STREAM ACQUISITION ON RELIEF CANYON AS PART OF US$42.5 MILLION FINANCING PACKAGE WITH AMERICAS SILVER
Vancouver, British Columbia | Sandstorm Gold Ltd. (“Sandstorm Gold Royalties”, “Sandstorm” or the “Company”) (NYSE American: SAND, TSX: SSL) is pleased to announce that the Company has entered into a US$42.5 million financing package with Americas Silver Corporation (“Americas Silver”) that includes a US$25 million gold stream and royalty on the Relief Canyon Project in Nevada, USA (“Relief Canyon” or the “Project”), as well as a US$10 million convertible debenture, and an US$7.5 million equity subscription.
AQUISITION HIGHLIGHTS
Near-Term Cash Flow: Americas Silver expects Relief Canyon to pour gold by the end of 2019 with average annual production of 91,000 ounces of gold at an all-in-sustaining cost of US$801 per ounce.
Precious Metal Stream with Fixed Deliveries: Sandstorm will receive 32,022 ounces of gold over 5.5 years, followed by a 4.0% precious metals stream thereafter. This is expected to increase the Company’s attributable gold equivalent ounces1 by 7% in 2020 and 9% in 2021.
Exploration Upside: Relief Canyon has a large prospective land package that is relatively underexplored. Sandstorm’s royalty covers the full property area surrounding the mine site.
Safe Jurisdiction: Relief Canyon is located in Nevada, USA one of the world’s best mining jurisdictions. Americas Silver has mining and processing permits in place to start operations at the Relief Canyon mine.
STREAM AND ROYALTY TERMS
Figure 1: Relief Canyon Claim Map
In exchange for US$25 million, Sandstorm will receive 32,022 ounces of gold over 5.5 years followed by 4.0% of the gold and silver production from the Relief Canyon Mine. Sandstorm will also have a 1.4% - 2.8% net smelter returns royalty on the area surrounding the Relief Canyon mine, plus a four kilometre area of interest (the “NSR Royalty”).
The 32,022 ounces of fixed gold deliveries will begin on April 3, 2020 and be delivered over a period of 5.5 years (the “Delivery Period”). If the first gold pour at Relief Canyon has not occurred by April 3, 2020, the Delivery Period will begin on the earlier of i) the first gold pour at Relief Canyon, and ii) October 3, 2020. During the first 60 months of the Delivery Period, Sandstorm will receive 492 ounces of gold per month, decreasing to 417 ounces of gold during the last 6 months of the Delivery Period.
Beginning 60 months after the commencement of the Delivery Period, Sandstorm will receive 4.0% of the gold and silver produced at the Relief Canyon Mine for the life of the mine (the “4.0% Stream”) and will pay Americas Silver 30% - 65% of the spot price of gold and silver for each ounce of gold and silver delivered (the “Ongoing Payment”). The Ongoing Payment percentage varies by concession and is calculated based on the pre-existing royalty burden.
Americas Silver may elect to reduce the 4.0% Stream and NSR Royalty on the Relief Canyon property by delivering 4,000 ounces of gold to Sandstorm (the “Purchase Option”). The Purchase Option may be exercised by Americas Silver at any time. The number of gold ounces required to exercise the option increases by 10% per year, compounded annually. Upon exercising the Purchase Option, the 4.0% Stream will decrease to 2.0% and the NSR Royalty will decrease to 1.0%.
The drawdown of the US$25 million will occur alongside the Relief Canyon construction schedule.
CONVERTIBLE DEBENTURE AND EQUITY TERMS
The US$10 million convertible debenture bears an interest rate of 6% per annum and has a term of four years (the "Debenture"). Sandstorm has the right to convert principal and interest owing under the Debenture into common shares of Americas Silver, at any time prior to the maturity date, at a conversion price US$2.14 per Americas Silver share.
Sandstorm has agreed to subscribe for 4,784,689 shares of Americas Silver at C$2.09/share (the “Equity Financing”).
ABOUT RELIEF CANYON
Overview
The Relief Canyon project is a past producing open pit mine located in Nevada, USA at the southern end of the Pershing Gold and Silver Trend, which hosts other projects such as Coeur Mining Inc.’s Rochester mine. Proven and Probable Reserves as of May 2018 totaled 27.5 Mt of 0.72 g/t gold material for 635,000 contained gold ounces (based on 0.17 g/t COG, Technical Report dated May 24, 2018 by Tietz,P., et al., MDA).
A Feasibility Study that was released in May 2018 outlined average annual production of 91,000 ounces of gold over a 5.6 year mine life at an average all-in-sustaining-cost of US$801 per ounce of gold. There is significant exploration potential at Relief Canyon, as only approximately 20% of the 11,700 hectare land package has been explored to date.
Americas Silver has received permits to start construction and resume mining and Relief Canyon is expected to pour gold by the end of 2019. Infrastructure on site includes access to power and water as well as a 21,500 ton per day heap-leach processing facility that is fully permitted and constructed.
SANDSTORM FILES EARLY WARNING REPORT
Pursuant to National Instrument 62-103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues, Sandstorm is announcing the acquisition of an aggregate of 3,553,500 common shares (the “Entrée Acquired Shares”) of Entrée Resources Ltd. (“Entrée”), representing approximately 2% of the outstanding common shares of Entrée (the “Entrée Shares”).
Prior to the acquisition of the Entrée Acquired Shares, Sandstorm held 25,090,380 Entrée Shares and warrants to purchase an additional 457,317 Entrée Shares (“Entrée Warrants”), representing approximately 14.4% of the outstanding Entrée Shares on a non-diluted basis. Assuming the exercise of all 457,317 Entrée Warrants held by the Company, the Company would have previously held an aggregate of 25,547,697 Entrée Shares, representing approximately 14.6% of the outstanding Entrée Shares (on a partially diluted basis). Upon completion of the acquisition of the Entrée Acquired Shares, an aggregate 28,643,880 Entrée Shares are now owned directly by Sandstorm, representing approximately 16.4% of the outstanding Entrée Shares. Assuming the exercise of the Company´s 457,317 Entrée Warrants, the Company would then hold 29,101,197 Entrée Shares, representing approximately 16.6% of the outstanding Entrée Shares (on a partially diluted basis).
The Entrée Acquired Shares were acquired by Sandstorm on the open market over the facilities of the Toronto Stock Exchange and other published markets for the Entrée Shares at prices ranging from C$0.49 to C$0.55 per Entrée Acquired Share. The acquisition of the Entrée Acquired Shares by Sandstorm was effected for investment purposes. Sandstorm may from time to time acquire additional securities of Entrée, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position.
The early warning report, as required under National Instrument 62-103, contains additional information with respect to the foregoing matters and will be filed by the Company on Entrée’s SEDAR profile at www.sedar.com.
SANDSTORM GOLD ROYALTIES ANNOUNCES GOLD STREAM ACQUISITION ON RELIEF CANYON AS PART OF US$42.5 MILLION FINANCING PACKAGE WITH AMERICAS SILVER
Vancouver, British Columbia | Sandstorm Gold Ltd. (“Sandstorm Gold Royalties”, “Sandstorm” or the “Company”) (NYSE American: SAND, TSX: SSL) is pleased to announce that the Company has entered into a US$42.5 million financing package with Americas Silver Corporation (“Americas Silver”) that includes a US$25 million gold stream and royalty on the Relief Canyon Project in Nevada, USA (“Relief Canyon” or the “Project”), as well as a US$10 million convertible debenture, and an US$7.5 million equity subscription.
AQUISITION HIGHLIGHTS
Near-Term Cash Flow: Americas Silver expects Relief Canyon to pour gold by the end of 2019 with average annual production of 91,000 ounces of gold at an all-in-sustaining cost of US$801 per ounce.
Precious Metal Stream with Fixed Deliveries: Sandstorm will receive 32,022 ounces of gold over 5.5 years, followed by a 4.0% precious metals stream thereafter. This is expected to increase the Company’s attributable gold equivalent ounces1 by 7% in 2020 and 9% in 2021.
Exploration Upside: Relief Canyon has a large prospective land package that is relatively underexplored. Sandstorm’s royalty covers the full property area surrounding the mine site.
Safe Jurisdiction: Relief Canyon is located in Nevada, USA one of the world’s best mining jurisdictions. Americas Silver has mining and processing permits in place to start operations at the Relief Canyon mine.
STREAM AND ROYALTY TERMS
Figure 1: Relief Canyon Claim Map
In exchange for US$25 million, Sandstorm will receive 32,022 ounces of gold over 5.5 years followed by 4.0% of the gold and silver production from the Relief Canyon Mine. Sandstorm will also have a 1.4% - 2.8% net smelter returns royalty on the area surrounding the Relief Canyon mine, plus a four kilometre area of interest (the “NSR Royalty”).
The 32,022 ounces of fixed gold deliveries will begin on April 3, 2020 and be delivered over a period of 5.5 years (the “Delivery Period”). If the first gold pour at Relief Canyon has not occurred by April 3, 2020, the Delivery Period will begin on the earlier of i) the first gold pour at Relief Canyon, and ii) October 3, 2020. During the first 60 months of the Delivery Period, Sandstorm will receive 492 ounces of gold per month, decreasing to 417 ounces of gold during the last 6 months of the Delivery Period.
Beginning 60 months after the commencement of the Delivery Period, Sandstorm will receive 4.0% of the gold and silver produced at the Relief Canyon Mine for the life of the mine (the “4.0% Stream”) and will pay Americas Silver 30% - 65% of the spot price of gold and silver for each ounce of gold and silver delivered (the “Ongoing Payment”). The Ongoing Payment percentage varies by concession and is calculated based on the pre-existing royalty burden.
Americas Silver may elect to reduce the 4.0% Stream and NSR Royalty on the Relief Canyon property by delivering 4,000 ounces of gold to Sandstorm (the “Purchase Option”). The Purchase Option may be exercised by Americas Silver at any time. The number of gold ounces required to exercise the option increases by 10% per year, compounded annually. Upon exercising the Purchase Option, the 4.0% Stream will decrease to 2.0% and the NSR Royalty will decrease to 1.0%.
The drawdown of the US$25 million will occur alongside the Relief Canyon construction schedule.
CONVERTIBLE DEBENTURE AND EQUITY TERMS
The US$10 million convertible debenture bears an interest rate of 6% per annum and has a term of four years (the "Debenture"). Sandstorm has the right to convert principal and interest owing under the Debenture into common shares of Americas Silver, at any time prior to the maturity date, at a conversion price US$2.14 per Americas Silver share.
Sandstorm has agreed to subscribe for 4,784,689 shares of Americas Silver at C$2.09/share (the “Equity Financing”).
ABOUT RELIEF CANYON
Overview
The Relief Canyon project is a past producing open pit mine located in Nevada, USA at the southern end of the Pershing Gold and Silver Trend, which hosts other projects such as Coeur Mining Inc.’s Rochester mine. Proven and Probable Reserves as of May 2018 totaled 27.5 Mt of 0.72 g/t gold material for 635,000 contained gold ounces (based on 0.17 g/t COG, Technical Report dated May 24, 2018 by Tietz,P., et al., MDA).
A Feasibility Study that was released in May 2018 outlined average annual production of 91,000 ounces of gold over a 5.6 year mine life at an average all-in-sustaining-cost of US$801 per ounce of gold. There is significant exploration potential at Relief Canyon, as only approximately 20% of the 11,700 hectare land package has been explored to date.
Americas Silver has received permits to start construction and resume mining and Relief Canyon is expected to pour gold by the end of 2019. Infrastructure on site includes access to power and water as well as a 21,500 ton per day heap-leach processing facility that is fully permitted and constructed.
SANDSTORM FILES EARLY WARNING REPORT
Pursuant to National Instrument 62-103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues, Sandstorm is announcing the acquisition of an aggregate of 3,553,500 common shares (the “Entrée Acquired Shares”) of Entrée Resources Ltd. (“Entrée”), representing approximately 2% of the outstanding common shares of Entrée (the “Entrée Shares”).
Prior to the acquisition of the Entrée Acquired Shares, Sandstorm held 25,090,380 Entrée Shares and warrants to purchase an additional 457,317 Entrée Shares (“Entrée Warrants”), representing approximately 14.4% of the outstanding Entrée Shares on a non-diluted basis. Assuming the exercise of all 457,317 Entrée Warrants held by the Company, the Company would have previously held an aggregate of 25,547,697 Entrée Shares, representing approximately 14.6% of the outstanding Entrée Shares (on a partially diluted basis). Upon completion of the acquisition of the Entrée Acquired Shares, an aggregate 28,643,880 Entrée Shares are now owned directly by Sandstorm, representing approximately 16.4% of the outstanding Entrée Shares. Assuming the exercise of the Company´s 457,317 Entrée Warrants, the Company would then hold 29,101,197 Entrée Shares, representing approximately 16.6% of the outstanding Entrée Shares (on a partially diluted basis).
The Entrée Acquired Shares were acquired by Sandstorm on the open market over the facilities of the Toronto Stock Exchange and other published markets for the Entrée Shares at prices ranging from C$0.49 to C$0.55 per Entrée Acquired Share. The acquisition of the Entrée Acquired Shares by Sandstorm was effected for investment purposes. Sandstorm may from time to time acquire additional securities of Entrée, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position.
The early warning report, as required under National Instrument 62-103, contains additional information with respect to the foregoing matters and will be filed by the Company on Entrée’s SEDAR profile at www.sedar.com.
Sandstorm Gold Royalties Announces 2019 First Quarter Sales Numbers and Renews Normal Course Issuer Bid
VANCOUVER, April 2, 2019 - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE American: SAND, TSX: SSL) is pleased to report that the Company has sold approximately 14,100 attributable gold equivalent ounces1 during the first quarter of 2019. With the addition of production from Cerro Moro and Aurizona in the second quarter of 2019, attributable gold equivalent ounces are expected to be higher in the remaining three quarters of 2019.
NORMAL COURSE ISSUER BID
The Company's NCIB is being renewed after the existing NCIB expires on April 4, 2019. The NCIB provides Sandstorm with the option to purchase the Company's common shares ("Common Shares") from time to time when Sandstorm's management believes that the Common Shares are undervalued by the market. Under the renewed NCIB, Sandstorm may purchase up to 13.0 million of its Common Shares, representing approximately 7.2% of the Company's issued and outstanding Common Shares of 179,629,255 as of March 15, 2019. The Toronto Stock Exchange ("TSX") has accepted the Company's notice that it intends to proceed with a NCIB in accordance with TSX rules. Purchases under the renewed NCIB may commence on April 5, 2019 and will terminate on the earlier of April 4, 2020, the date that Sandstorm completes its purchases pursuant to the NCIB as filed with the TSX, or the date of notice by Sandstorm of termination of the NCIB.
During the fourth quarter of 2018, Sandstorm announced that the Company's Board of Directors approved the purchase of up to 18.3 million of its Common Shares (the "Buyback"). Since the announcement of the Buyback on November 15, 2018, Sandstorm has bought back approximately 5.5 million Common Shares. The renewed NCIB gives Sandstorm the capacity to purchase the remaining Common Shares from the previously announced Buyback.
All purchases under the NCIB will be executed on the open market through the facilities of the TSX or alternative Canadian trading platforms and through the facilities of the NYSE American or alternative trading platforms in the United States of America. Purchases will be made at the market price of the Common Shares at the time of acquisition and may be funded by Sandstorm's working capital. Any Common Shares acquired by the Company under the NCIB will be cancelled. Sandstorm's average daily trading volume on the TSX during the last six calendar months was 456,688 Common Shares. Under the rules of the TSX, daily purchases on the TSX will not exceed 114,172 Common Shares, subject to the Company's ability to make block purchases. The maximum number of Common Shares which can be purchased per day on the NYSE American will be 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase, subject to certain exceptions for block purchases.
In the last twelve months, the Company has purchased 7,991,505 Common Shares pursuant to its NCIB at a weighted average price of C$6.05 per common share on the TSX and alternates and approximately US$4.52 per common share on the NYSE American and alternates.
VANCOUVER, April 2, 2019 - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE American: SAND, TSX: SSL) is pleased to report that the Company has sold approximately 14,100 attributable gold equivalent ounces1 during the first quarter of 2019. With the addition of production from Cerro Moro and Aurizona in the second quarter of 2019, attributable gold equivalent ounces are expected to be higher in the remaining three quarters of 2019.
NORMAL COURSE ISSUER BID
The Company's NCIB is being renewed after the existing NCIB expires on April 4, 2019. The NCIB provides Sandstorm with the option to purchase the Company's common shares ("Common Shares") from time to time when Sandstorm's management believes that the Common Shares are undervalued by the market. Under the renewed NCIB, Sandstorm may purchase up to 13.0 million of its Common Shares, representing approximately 7.2% of the Company's issued and outstanding Common Shares of 179,629,255 as of March 15, 2019. The Toronto Stock Exchange ("TSX") has accepted the Company's notice that it intends to proceed with a NCIB in accordance with TSX rules. Purchases under the renewed NCIB may commence on April 5, 2019 and will terminate on the earlier of April 4, 2020, the date that Sandstorm completes its purchases pursuant to the NCIB as filed with the TSX, or the date of notice by Sandstorm of termination of the NCIB.
During the fourth quarter of 2018, Sandstorm announced that the Company's Board of Directors approved the purchase of up to 18.3 million of its Common Shares (the "Buyback"). Since the announcement of the Buyback on November 15, 2018, Sandstorm has bought back approximately 5.5 million Common Shares. The renewed NCIB gives Sandstorm the capacity to purchase the remaining Common Shares from the previously announced Buyback.
All purchases under the NCIB will be executed on the open market through the facilities of the TSX or alternative Canadian trading platforms and through the facilities of the NYSE American or alternative trading platforms in the United States of America. Purchases will be made at the market price of the Common Shares at the time of acquisition and may be funded by Sandstorm's working capital. Any Common Shares acquired by the Company under the NCIB will be cancelled. Sandstorm's average daily trading volume on the TSX during the last six calendar months was 456,688 Common Shares. Under the rules of the TSX, daily purchases on the TSX will not exceed 114,172 Common Shares, subject to the Company's ability to make block purchases. The maximum number of Common Shares which can be purchased per day on the NYSE American will be 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase, subject to certain exceptions for block purchases.
In the last twelve months, the Company has purchased 7,991,505 Common Shares pursuant to its NCIB at a weighted average price of C$6.05 per common share on the TSX and alternates and approximately US$4.52 per common share on the NYSE American and alternates.
Trading Spotlight
Wenn das so kommt dann ist ab 2022 hier richtig Ballet.
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Yup, da dürfte, m.E. auch, Einiges zu erwarten sein.
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Yup, da dürfte, m.E. auch, Einiges zu erwarten sein.
Yamana, Glencore und Goldcorp starten zusammen die Erschließung von Agua Rica!!!
Sandstorm hat ein NSR in place und die option auf einen 40% gold stream.
Das wären weitere 40000oz/y on top!
Wenn das so kommt dann ist ab 2022 hier richtig Ballet.
Hot Maden, Oju Tolgoi und Agua Rica würden dann nach und nach an den Start gehen. Die 3 größten Projekte, das schauen sich meiner Meinung nach die drei großen, Franco, Royal und Wheaton nicht bis zum Ende an. Wenn die Deals dann stehen und die Projekte durchfinanziert sind kommt meiner Meinung nach ein Bid.
Sandstorm hat ein NSR in place und die option auf einen 40% gold stream.
Das wären weitere 40000oz/y on top!
Wenn das so kommt dann ist ab 2022 hier richtig Ballet.
Hot Maden, Oju Tolgoi und Agua Rica würden dann nach und nach an den Start gehen. Die 3 größten Projekte, das schauen sich meiner Meinung nach die drei großen, Franco, Royal und Wheaton nicht bis zum Ende an. Wenn die Deals dann stehen und die Projekte durchfinanziert sind kommt meiner Meinung nach ein Bid.
VANCOUVER, BC / ACCESSWIRE / February 19, 2019 / Sandstorm Gold Ltd. (SAND) ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE American: SAND, TSX: SSL) has released its results for the fourth quarter and year ended December 31, 2018 (all figures in U.S. dollars).
Fourth Quarter Highlights
Attributable gold equivalent ounces sold1 of 14,182 ounces (Q4 2017 - 12,032 ounces);
Revenue of $17.5 million (Q4 2017 - $15.4 million);
Cash flows from operating activities, excluding changes in non-cash working capital1 of $10.9 million (Q4 2017 - $9.6 million);
Net income of $2.7 million (Q4 2017 - $0.7 million);
Credit Facility Amendment: The Company's revolving credit facility was increased to $225 million for acquisitions and general corporate purposes. The tenure of the facility is four years and is extendable by mutual consent of Sandstorm and the majority of the banking syndicate.
Full Year Highlights
Record attributable gold equivalent ounces sold1 of 57,646 ounces (FY 2017 – 54,633 ounces);
Record revenue of $73.2 million (FY 2017 - $68.3 million);
Average cash cost per attributable gold equivalent ounce of $278 resulting in cash operating margins1 of $991 per ounce (FY 2017 - $280 per ounce and $970 per ounce respectively);
Record Cash flows from operating activities, excluding changes in non-cash working capital1 of $48.1 million (FY 2017 - $44.0 million);
Net income of $5.9 million (FY 2017 - $10.5 million);
Significant Acquisitions: Immediate/near term cash flow, strong counterparties, and significant exploration upside
In January 2019, the Company acquired a 0.9% NSR on the precious metals produced from the Fruta del Norte gold project in Ecuador, which is currently under construction and owned by Lundin Gold Inc. (FTMNF) The royalty was acquired from a private third party for $32.8 million in cash and covers more than 644 square kilometres, including all 30 mining concessions held by Lundin Gold.
In January 2018, the Company acquired a 2% NSR on the producing Houndé gold mine in West Africa which is owned and operated by Endeavour Mining Corporation (EDVVF). The royalty was acquired from Acacia Mining PLC (ABGLF) for $45 million in cash and covers the Kari North and Kari South tenements, representing approximately 500 square kilometres of the Houndé property package.
Normal Course Issuer Bid: Under Sandstorm's normal course issuer bid, the Company purchased and cancelled approximately 4.8 million common shares in 2018.
Outlook
Based on the Company's existing royalties, attributable gold equivalent ounces sold for 2019 is forecast to be between 63,000 and 73,000 ounces. The Company is forecasting attributable gold equivalent production of over 140,000 ounces in 2023.
Financial results
Over the course of the 2018 year, the Company realized annual records for both revenue and attributable gold equivalent ounces sold of $73.2 million and 57,646 ounces respectively. The records represent a 7% increase in revenue and a 6% increase in attributable gold equivalent ounces sold compared to the 2017 year. A notable contributor to the record gold sales and revenue figures was the addition of the Houndé royalty with $6.7 million in additional revenue being recognized from Houndé in 2018. In addition, the Company realized an increase in annual attributable production from the Karma gold stream, the Chapada copper stream and the Santa Elena gold stream among others.
Net income was lower when comparing the 2018 year to the 2017 year due to factors such as a decrease in gains recognized on the revaluation of investments and certain items that were recognized in 2017 that did not recur in 2018 such as gains related to the Bachelor Lake gold stream amendment, the settlement of certain debt securities in Equinox Gold Corp. (EQXGF) ("Equinox Gold") and a royalty repurchase by Orezone Gold Corporation. The year over year decline in net income was offset by a decrease in non-cash impairments and a decrease in depletion expense. Changes to depletion expenses were partly driven by an adjustment to the number of ounces in the depletable base due to various factors including the conversion of exploration upside into resources and reserves.
Share buyback program
During the fourth quarter of 2018, Sandstorm announced that the Company's Board of Directors approved the purchase of up to 18.3 million of its common shares ("Common Shares") by the end of 2019, subject to Toronto Stock Exchange approval (the "Buyback"). Since the announcement of the Buyback on November 15, 2018, Sandstorm has bought back approximately 4.7 million shares.
Under the Company's current Normal Course Issuer Bid ("NCIB"), Sandstorm has the option to purchase up to 9.2 million Common Shares until April 4, 2019. As of February 19, 2019, the Company has purchased 7.2 million Common Shares, leaving 2.0 million Common Shares still available to purchase under the current NCIB. After the current NCIB expires on April 4, 2019, the Company plans to seek approval for a new NCIB from the TSX. Subject to TSX approval, the new NCIB would provide Sandstorm the ability to purchase the remaining shares under the Buyback.
For more information regarding the current NCIB, see Sandstorm's press releases dated March 29, 2018 and November 15, 2018 at www.sandstormgold.com or on Sandstorm's Sedar profile at www.sedar.com.
The actual number of Common Shares that may be purchased and the timing of such purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. Any securities acquired under the NCIB will be cancelled.
Streams & Royalties
Of the gold equivalent ounces sold by Sandstorm during the fourth quarter of 2018, approximately 32% were attributable to mines located in Canada, 25% from the rest of North America and 43% from South America and other countries.
Three months ended Dec. 31, 2018
Year ended Dec. 31, 2018
Revenue
(in millions)
Gold Equivalent
Ounces
Revenue
(in millions)
Gold Equivalent
Ounces
Canada
$5.7
4,573
$25.1
19,817
North America excl. Canada
$4.3
3,496
$14.8
11,652
South America & Other
$7.5
6,113
$33.3
26,177
Total
$17.5
14,182
$73.2
57.646
Canada
Streams and royalties on Canadian mines contributed 15% fewer gold equivalent ounces to Sandstorm when compared to the fourth quarter of 2017. The change is primarily due to a decrease in gold equivalent ounces sold from the Black Fox mine in Ontario and in royalty revenue from the Bracemac-McLeod mine in Québec, offset by increases from the Diavik mine in the Northwest Territories and the Bachelor Lake mine in Québec.
North America Excluding Canada
The gold equivalent ounces sold from operations located within North America, but outside of Canada, increased by 167% compared to the fourth quarter in 2017. The changes were driven by an increase in gold equivalent ounces sold from the Santa Elena mine in Mexico and in royalty revenue from the Emigrant Springs mine in Nevada, offset by a decrease in royalty revenue from the San Andres mine in Honduras.
South America & Other
Operations in South America and other countries contributed 14% more gold equivalent ounces when compared to the fourth quarter of 2017. The change is primarily due to the addition of royalty revenue from the Houndé mine in Burkina Faso, offset by a decrease in gold equivalent ounces from the Yamana Silver stream on the Minera Florida mine in Chile and the Chapada mine in Brazil.
Aurizona Royalty
Equinox Gold announced in early 2019 that construction is nearing completion at the Aurizona mine in Brazil and that commissioning of the process plant is underway. Commercial production is expected around the end of the first quarter of 2019. Aurizona is expected to produce between 85,000 to 105,000 ounces of gold in 2019, and average 136,000 ounces of gold per year over the life of the mine.
Activities during 2019 at Aurizona will focus on a preliminary assessment of the potential for an underground mine at Aurizona, updating the resource based on near-mine drilling completed during 2017 and 2018, and continuing exploration at Tatajuba and other targets to extend the open-pit mine life.
For more information refer to www.equinoxgold.com and see the press release dated January 8, 2019.
Sandstorm has a 3% - 5% sliding scale NSR royalty on the Aurizona project. At gold prices less than or equal to US$1,500 per ounce, the royalty is a 3% NSR. In addition, Sandstorm holds a 2% NSR royalty on the Aurizona Greenfields property, a package of exploration ground adjacent to the Aurizona project.
Webcast & Conference Call Details
A conference call will be held on Wednesday, February 20, 2019 starting at 8:30am PST to further discuss the fourth quarter results. To participate in the conference call, use the following dial-in numbers and conference ID, or join the webcast using the link below:
Local/International: (+1) 201 389 0899
North American Toll-Free: (+1) 877 407 0312
Conference ID: 13687067
Webcast URL: https://bit.ly/2WXcsmU
Fourth Quarter Highlights
Attributable gold equivalent ounces sold1 of 14,182 ounces (Q4 2017 - 12,032 ounces);
Revenue of $17.5 million (Q4 2017 - $15.4 million);
Cash flows from operating activities, excluding changes in non-cash working capital1 of $10.9 million (Q4 2017 - $9.6 million);
Net income of $2.7 million (Q4 2017 - $0.7 million);
Credit Facility Amendment: The Company's revolving credit facility was increased to $225 million for acquisitions and general corporate purposes. The tenure of the facility is four years and is extendable by mutual consent of Sandstorm and the majority of the banking syndicate.
Full Year Highlights
Record attributable gold equivalent ounces sold1 of 57,646 ounces (FY 2017 – 54,633 ounces);
Record revenue of $73.2 million (FY 2017 - $68.3 million);
Average cash cost per attributable gold equivalent ounce of $278 resulting in cash operating margins1 of $991 per ounce (FY 2017 - $280 per ounce and $970 per ounce respectively);
Record Cash flows from operating activities, excluding changes in non-cash working capital1 of $48.1 million (FY 2017 - $44.0 million);
Net income of $5.9 million (FY 2017 - $10.5 million);
Significant Acquisitions: Immediate/near term cash flow, strong counterparties, and significant exploration upside
In January 2019, the Company acquired a 0.9% NSR on the precious metals produced from the Fruta del Norte gold project in Ecuador, which is currently under construction and owned by Lundin Gold Inc. (FTMNF) The royalty was acquired from a private third party for $32.8 million in cash and covers more than 644 square kilometres, including all 30 mining concessions held by Lundin Gold.
In January 2018, the Company acquired a 2% NSR on the producing Houndé gold mine in West Africa which is owned and operated by Endeavour Mining Corporation (EDVVF). The royalty was acquired from Acacia Mining PLC (ABGLF) for $45 million in cash and covers the Kari North and Kari South tenements, representing approximately 500 square kilometres of the Houndé property package.
Normal Course Issuer Bid: Under Sandstorm's normal course issuer bid, the Company purchased and cancelled approximately 4.8 million common shares in 2018.
Outlook
Based on the Company's existing royalties, attributable gold equivalent ounces sold for 2019 is forecast to be between 63,000 and 73,000 ounces. The Company is forecasting attributable gold equivalent production of over 140,000 ounces in 2023.
Financial results
Over the course of the 2018 year, the Company realized annual records for both revenue and attributable gold equivalent ounces sold of $73.2 million and 57,646 ounces respectively. The records represent a 7% increase in revenue and a 6% increase in attributable gold equivalent ounces sold compared to the 2017 year. A notable contributor to the record gold sales and revenue figures was the addition of the Houndé royalty with $6.7 million in additional revenue being recognized from Houndé in 2018. In addition, the Company realized an increase in annual attributable production from the Karma gold stream, the Chapada copper stream and the Santa Elena gold stream among others.
Net income was lower when comparing the 2018 year to the 2017 year due to factors such as a decrease in gains recognized on the revaluation of investments and certain items that were recognized in 2017 that did not recur in 2018 such as gains related to the Bachelor Lake gold stream amendment, the settlement of certain debt securities in Equinox Gold Corp. (EQXGF) ("Equinox Gold") and a royalty repurchase by Orezone Gold Corporation. The year over year decline in net income was offset by a decrease in non-cash impairments and a decrease in depletion expense. Changes to depletion expenses were partly driven by an adjustment to the number of ounces in the depletable base due to various factors including the conversion of exploration upside into resources and reserves.
Share buyback program
During the fourth quarter of 2018, Sandstorm announced that the Company's Board of Directors approved the purchase of up to 18.3 million of its common shares ("Common Shares") by the end of 2019, subject to Toronto Stock Exchange approval (the "Buyback"). Since the announcement of the Buyback on November 15, 2018, Sandstorm has bought back approximately 4.7 million shares.
Under the Company's current Normal Course Issuer Bid ("NCIB"), Sandstorm has the option to purchase up to 9.2 million Common Shares until April 4, 2019. As of February 19, 2019, the Company has purchased 7.2 million Common Shares, leaving 2.0 million Common Shares still available to purchase under the current NCIB. After the current NCIB expires on April 4, 2019, the Company plans to seek approval for a new NCIB from the TSX. Subject to TSX approval, the new NCIB would provide Sandstorm the ability to purchase the remaining shares under the Buyback.
For more information regarding the current NCIB, see Sandstorm's press releases dated March 29, 2018 and November 15, 2018 at www.sandstormgold.com or on Sandstorm's Sedar profile at www.sedar.com.
The actual number of Common Shares that may be purchased and the timing of such purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. Any securities acquired under the NCIB will be cancelled.
Streams & Royalties
Of the gold equivalent ounces sold by Sandstorm during the fourth quarter of 2018, approximately 32% were attributable to mines located in Canada, 25% from the rest of North America and 43% from South America and other countries.
Three months ended Dec. 31, 2018
Year ended Dec. 31, 2018
Revenue
(in millions)
Gold Equivalent
Ounces
Revenue
(in millions)
Gold Equivalent
Ounces
Canada
$5.7
4,573
$25.1
19,817
North America excl. Canada
$4.3
3,496
$14.8
11,652
South America & Other
$7.5
6,113
$33.3
26,177
Total
$17.5
14,182
$73.2
57.646
Canada
Streams and royalties on Canadian mines contributed 15% fewer gold equivalent ounces to Sandstorm when compared to the fourth quarter of 2017. The change is primarily due to a decrease in gold equivalent ounces sold from the Black Fox mine in Ontario and in royalty revenue from the Bracemac-McLeod mine in Québec, offset by increases from the Diavik mine in the Northwest Territories and the Bachelor Lake mine in Québec.
North America Excluding Canada
The gold equivalent ounces sold from operations located within North America, but outside of Canada, increased by 167% compared to the fourth quarter in 2017. The changes were driven by an increase in gold equivalent ounces sold from the Santa Elena mine in Mexico and in royalty revenue from the Emigrant Springs mine in Nevada, offset by a decrease in royalty revenue from the San Andres mine in Honduras.
South America & Other
Operations in South America and other countries contributed 14% more gold equivalent ounces when compared to the fourth quarter of 2017. The change is primarily due to the addition of royalty revenue from the Houndé mine in Burkina Faso, offset by a decrease in gold equivalent ounces from the Yamana Silver stream on the Minera Florida mine in Chile and the Chapada mine in Brazil.
Aurizona Royalty
Equinox Gold announced in early 2019 that construction is nearing completion at the Aurizona mine in Brazil and that commissioning of the process plant is underway. Commercial production is expected around the end of the first quarter of 2019. Aurizona is expected to produce between 85,000 to 105,000 ounces of gold in 2019, and average 136,000 ounces of gold per year over the life of the mine.
Activities during 2019 at Aurizona will focus on a preliminary assessment of the potential for an underground mine at Aurizona, updating the resource based on near-mine drilling completed during 2017 and 2018, and continuing exploration at Tatajuba and other targets to extend the open-pit mine life.
For more information refer to www.equinoxgold.com and see the press release dated January 8, 2019.
Sandstorm has a 3% - 5% sliding scale NSR royalty on the Aurizona project. At gold prices less than or equal to US$1,500 per ounce, the royalty is a 3% NSR. In addition, Sandstorm holds a 2% NSR royalty on the Aurizona Greenfields property, a package of exploration ground adjacent to the Aurizona project.
Webcast & Conference Call Details
A conference call will be held on Wednesday, February 20, 2019 starting at 8:30am PST to further discuss the fourth quarter results. To participate in the conference call, use the following dial-in numbers and conference ID, or join the webcast using the link below:
Local/International: (+1) 201 389 0899
North American Toll-Free: (+1) 877 407 0312
Conference ID: 13687067
Webcast URL: https://bit.ly/2WXcsmU
neuer deal. keine dillution. noch 2019er cashflow. kosten $32,75 mio. cash flow ca. $4 mio im jahr bei $1285oz
3000oz/y, 10 mio oz über alle kategorien, fast 700qkm fläche
sieht gut aus aber ecuador
Sandstorm Gold Ltd.: Sandstorm Gold Royalties Acquires 0.9% NSR Royalty on Lundin Gold's Fruta Del Norte Mine
VANCOUVER, BC / ACCESSWIRE / January 18, 2019 / Sandstorm Gold Ltd. (SAND) (''Sandstorm Gold Royalties'', ''Sandstorm'' or the ''Company'') (NYSE American: SAND; TSX: SSL) is pleased to announce that the Company has acquired a 0.9% net smelter returns royalty (''NSR Royalty'') on precious metals produced from the Fruta del Norte gold project in Ecuador (''Fruta del Norte''), currently under construction by Lundin Gold Corporation (''Lundin Gold (FTMNF)'').
The NSR Royalty was acquired from a private third party for US$32.75 million in cash and covers more than 644 square kilometres, including all 30 mining concessions held by Lundin Gold. The Fruta del Norte Mineral Reserve contains 5.0 million ounces of gold in 17.8 million tonnes (''Mt'') of ore with an average grade of 8.7 grams per tonne (''g/t'') as of September 2018, ranking it amongst the highest-grade gold projects in the world.
Acquisition Highlights
Near-Term Cash Flow: Lundin expects to pour first gold at Fruta del Norte in the fourth quarter of 2019, with commercial production expected in the first half of 2020. Fruta del Norte's average annual production is expected to exceed 330,000 ounces of gold per year over the first 13 years of the operation at an all-in-sustaining cost of US$583 per ounce. Current reserves support a 15 year initial mine life.
Exploration Upside: The royalty covers precious metals production from all 644 square kilometres of concessions held by Lundin Gold, plus an additional one kilometre area of interest around the property. Exploration potential at Fruta del Norte remains excellent, with multiple early and advanced exploration targets already identified. Exploration is currently focused on the Suarez pull-apart basin, the structure that hosts the Fruta del Norte gold deposit.
Strong Partner: Lundin Gold is backed by Lukas Lundin, an established mining entrepreneur, and its management team has significant mine development and operating experience.
3000oz/y, 10 mio oz über alle kategorien, fast 700qkm fläche
sieht gut aus aber ecuador
Sandstorm Gold Ltd.: Sandstorm Gold Royalties Acquires 0.9% NSR Royalty on Lundin Gold's Fruta Del Norte Mine
VANCOUVER, BC / ACCESSWIRE / January 18, 2019 / Sandstorm Gold Ltd. (SAND) (''Sandstorm Gold Royalties'', ''Sandstorm'' or the ''Company'') (NYSE American: SAND; TSX: SSL) is pleased to announce that the Company has acquired a 0.9% net smelter returns royalty (''NSR Royalty'') on precious metals produced from the Fruta del Norte gold project in Ecuador (''Fruta del Norte''), currently under construction by Lundin Gold Corporation (''Lundin Gold (FTMNF)'').
The NSR Royalty was acquired from a private third party for US$32.75 million in cash and covers more than 644 square kilometres, including all 30 mining concessions held by Lundin Gold. The Fruta del Norte Mineral Reserve contains 5.0 million ounces of gold in 17.8 million tonnes (''Mt'') of ore with an average grade of 8.7 grams per tonne (''g/t'') as of September 2018, ranking it amongst the highest-grade gold projects in the world.
Acquisition Highlights
Near-Term Cash Flow: Lundin expects to pour first gold at Fruta del Norte in the fourth quarter of 2019, with commercial production expected in the first half of 2020. Fruta del Norte's average annual production is expected to exceed 330,000 ounces of gold per year over the first 13 years of the operation at an all-in-sustaining cost of US$583 per ounce. Current reserves support a 15 year initial mine life.
Exploration Upside: The royalty covers precious metals production from all 644 square kilometres of concessions held by Lundin Gold, plus an additional one kilometre area of interest around the property. Exploration potential at Fruta del Norte remains excellent, with multiple early and advanced exploration targets already identified. Exploration is currently focused on the Suarez pull-apart basin, the structure that hosts the Fruta del Norte gold deposit.
Strong Partner: Lundin Gold is backed by Lukas Lundin, an established mining entrepreneur, and its management team has significant mine development and operating experience.
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