Sandstorm Gold* (SSL : TSX : $12.15), Net Change: 0.25, % Change: 2.10%, Volume: 228,169


Premier Royalty* (NSR : TSX : $1.99), Net Change: 0.03, % Change: 1.53%, Volume: 357,834


Why wouldn't you?




Sandstorm announced that it has acquired an additional 11 million common shares of Premier Royalty for


cash at an average price of $1.98 per share. SSL now owns 46,678,221 shares, or approximately 59.9% of the currently issued


and outstanding shares of NSR. From discussions with management, we understand these share acquisitions have more to do


with improving the company's strategic position in the royalty space and should allow Sandstorm to focus on larger potential


transactions with the goal of participating in smaller royalty deals through NSR. Canaccord Genuity Mining Analyst Nicholas


Campbell does not like the implied valuation that SSL is paying to acquire the shares of NSR. That said, he is inclined to give


Nolan Watson, President and CEO of SSL, the benefit of the doubt given the track record of his team at SSL. Whether or not


these acquisitions work in best interest of SSL shareholders should be demonstrated over the next 12-24 months.