Sandstorm Gold Royalties Announces 2020 Second Quarter Results - Seite 2
STREAMS & ROYALTIES
Of the gold equivalent ounces sold by Sandstorm during the second quarter of 2020, approximately 11% were attributable to mines located in Canada, 15% from the rest of North America, 47% from South America and 27% from other countries.
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THREE MONTHS ENDED June 30, 2020
Revenue
(In Millions)
Gold Equivalent
Ounces
Canada
$2.1
1,223
North America excl. Canada
$2.8
1,646
South America
$8.7
5,098
Other
$5.1
2,953
Total
$18.7
10,920
Canada
Streams and royalties on Canadian mines contributed 74% fewer gold equivalent ounces to Sandstorm when compared to the second quarter of 2019. The change is primarily due to a decrease in royalty revenue from the Diavik mine in the Northwest Territories and a decrease in gold equivalent ounces sold from the Bachelor Lake mine in Québec and the Ming mine in Newfoundland.
North America Excluding Canada
The gold equivalent ounces sold from operations located within North America, but outside of Canada, decreased by 36% compared to the second quarter in 2019. The changes were driven by a decrease in gold equivalent ounces sold from the Santa Elena mine in Mexico, partially offset by an increase in gold equivalent ounces sold from the Relief Canyon mine in Nevada. In May 2020, Sandstorm received its first monthly gold delivery from Americas Gold and Silver Corp. under the Relief Canyon stream agreement.
Santa Elena Stream
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In April 2020, First Majestic Silver Corp. (“First Majestic”) announced that it had temporarily suspended operations at the Santa Elena mine in accordance with Mexico’s Ministry of Health’s Decree to mitigate the spread and transmission of COVID-19. First Majestic began implementing restart procedures in mid-May following the announcement that mining activities were deemed an essential business throughout Mexico. Operations at the Santa Elena mine are now back to normal production rates.