Business
Sandstorm Gold Royalties Announces Record 2019 Annual Results and Uplisting to the New York Stock Exchange
VANCOUVER, BC / ACCESSWIRE / February 13, 2020 / Sandstorm Gold Ltd. ("Sandstorm Gold Royalt...
About this update from Silver Sands Resources Corp.
[{"type":"text","content":"Sandstorm Gold Royalties Announces Record 2019 Annual Results and Uplisting to the New York Stock ExchangeVANCOUVER, BC / ACCESSWIRE / February 13, 2020 / 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, 2019 (all figures in U.S. dollars).Fourth Quarter HighlightsAttributable gold equivalent ounces sold1 of 16,113 ounces (Q4 2018 - 14,182 ounces);Revenue of $24.0 million (Q4 2018 - $17.5 million);Cash flows from operating activities, excluding changes in non-cash working capital1 of $15.2 million (Q4 2018 - $11.2 million);Net income of $5.3 million (Q4 2018 - $2.7 million);Credit Facility Amendment: The Company's revolving credit facility was amended allowing the Company to borrow up to $225 million with an additional uncommitted accordion of up to $75 million, for a total facility of up to $300 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 banking syndicate.Full Year HighlightsRecord attributable gold equivalent ounces sold1 of 63,829 ounces (FY 2018 - 57,646 ounces);Record revenue of $89.4 million (FY 2018 - $73.2 million);Average cash cost per attributable gold equivalent ounce of $286 resulting in cash operating margins1 of $1,115 per ounce (FY 2018 - $278 per ounce and $991 per ounce respectively);Record cash flows from operating activities, excluding changes in non-cash working capital1 of $60.7 million (FY 2018 - $49.1 million); Net income of $16.4 million (FY 2018 - $5.9 million);Significant acquisitions with 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 April 2019, the Company announced that it had entered into a $42.5 million financing package with Americas Gold and Silver Corporation (\"Americas Gold\") which includes a $25 million precious metal stream and an NSR on...