Sandstorm Gold Royalties Announces Record 2018 Annual Results

About this update from Silver Sands Resources Corp.

[{"type":"text","content":"Sandstorm Gold Royalties Announces Record 2018 Annual ResultsVANCOUVER, BC / ACCESSWIRE / February 19, 2019 / Sandstorm Gold Ltd. (\"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. 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. The royalty was acquired from Acacia Mining PLC for $45 million in cash and covers the Kari North and Kari South tenements, representing approximately 500 square kilometres of the Houndé property pa...

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