Video Showcase

Sandstorm eyes growth after record quarter

10/25/2012 7:05:23 PM | Stockhouse Editorial

2917 Reads | 1 Comments

Rate this

clarity
4

clarity : 4
Rate this:

overall quality
4 overall quality : 4
Average quality rating by the Stockhouse community.

credibility
4

credibility : 4
Rate this:

usefulness
5

usefulness : 5
Rate this:

CEO Nolan Watson said the company is positioned to acquire additional gold streams with over $150 million in available capital.

Precious metals streaming company Sandstorm Gold Ltd. (TSX: V.SSL, Stock Forum) said revenue was a record $15.1 million in the third quarter ended September 30, 2012.

The announcement came after the close of trading Thursday, when Sandstorm shares rose 1.5% to $13.65, leaving the company with a market cap of $1.17 billion, based on 85.7 million shares outstanding. The 52-week range is $14.99 and $5.70.

Sandstorm posted gold sales of 9,066 ounces in the quarter and operating cash flow of $10.6 million.

Other third quarter highlights included a precious metals purchase agreement with Colossus Minerals Inc. (TSX: T.CSI, Stock Forum), enabling Sandstorm to buy an amount equal to 1.5% of the gold and 35% of the platinum produced from the Serra Pelada Mine in Para, Brazil.

The company has also agreed to contribute $10 million towards an expansion of Luna Gold Corp.’s (TSX: T.LGC, Stock Forum) Aurizona Mine in northeastern Brazil.

Sandstorm President and Chief Executive Officer Nolan Watson said Q3 was another strong quarter for the company in terms of revenue and cash flow. He said the company is positioned to acquire additional gold streams with over $150 million in available capital.

ABOUT THE AUTHOR

Stockhouse Editorial

Stockhouse Conflict and Disclosure Policy:

Stockhouse publishing Ltd., owners and operators of Stockhouse.com, has established the following rules to ensure that there is no appearance of impropriety on the part of any Stockhouse Editorial writers ("Writers"). The content of Stockhouse Editorial articles (the "Articles") are the opinion of the Writer and any reliance on the content of these articles is at your sole risk. Our Writers are not registered investment advisors. You should not make any kind of investment decision in relation to Articles or stocks discussed in them without obtaining advice from a registered investment advisor.

Facts relied upon by our Writers are generally provided by the subject companies or gathered by our Writers from other public and/or private sources. These facts may be in error and if so, the opinions of our Writers may be materially different.

Writers may own, buy, or sell shares in public companies mentioned in their Articles, but in the Article they must prominently state their ownership position. Thus, a conflict may exist. Writers are not permitted to write Articles that attempt to benefit persons connected to the Writer, such as family or friends, except where disclosure is made in the same way as if the Writer him/herself owns stock.

Writers cannot solicit, accept, or agree to receive anything of value given or paid with the intent of influencing their Articles.

Stockhouse notifies each Writer about these rules, and we rely on the integrity of our Writers to ensure that our rules are followed.