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Sandstorm Gold Acquires 2% NSR Royalty on Endeavour's Houndé Gold Mine from Acacia Mining
Sandstorm Gold Acquires 2% NSR Royalty on Endeavour's Houndé Gold Mine from Acacia Mi...
About this update from Silver Sands Resources Corp.
[{"type":"text","content":"\n\n\n\nSandstorm Gold Acquires 2% NSR Royalty on Endeavour's Houndé Gold Mine from Acacia Mining\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt solid; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt solid; PADDING-RIGHT:0.50em\n}\n.prntbls{\nBORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 18, 2017\n\n\n\nVANCOUVER, Dec. 18, 2017 /CNW/ - Sandstorm Gold Ltd. (\"Sandstorm\" or the \"Company\") (NYSEAMERICAN: SAND, TSX: SSL) is pleased to announce that the Company has agreed to purchase an existing 2% net smelter returns royalty (\"NSR Royalty\") on the producing Houndé gold mine in Burkina Faso, operated by Endeavour Mining Corporation (\"Endeavour\"). The NSR Royalty will be acquired from Acacia Mining plc for US$45 million in cash and covers the Kari North and Kari South tenements, representing approximately 500 square kilometres of the Houndé property package. Nearly the entire Houndé Mineral Reserve of 2.1 million ounces (as of December 2014) is located on the Kari North and Kari South tenements, including the Vindaloo deposit and most of the Bouéré deposit. The NSR Royalty acquisition is expected to close in January 2018.\n\n—Acquisition Highlights\n\n\nImmediate Cash Flow: Commercial production was announced on October 31, 2017 and the Houndé mine is expected to produce 235,000 ounces of gold per year on average over the first four years of operations. The mine has an initial ten year mine life based on the current Mineral Reserves.\nStrong Operator: Endeavour is a mid-tier gold producer with five operating mines in Africa. The construction ...