Business
Sandstorm Gold Royalties Announces Record Revenue and Gold Equivalent Ounces Sold in Q3 2019
VANCOUVER, BC / ACCESSWIRE / October 2, 2019 / Sandstorm Gold Ltd. ("Sandstorm Gold Royaltie...
About this update from Silver Sands Resources Corp.
[{"type":"text","content":"Sandstorm Gold Royalties Announces Record Revenue and Gold Equivalent Ounces Sold in Q3 2019VANCOUVER, BC / ACCESSWIRE / October 2, 2019 / Sandstorm Gold Ltd. (\"Sandstorm Gold Royalties,\" \"Sandstorm\" or the \"Company\") (NYSE American: SAND, TSX: SSL) is pleased to report that the Company has sold approximately 17,300 attributable gold equivalent ounces1 and realized preliminary revenue2 of $25.8 million during the three months ended September 30, 2019, both representing a record for the Company. Preliminary cost of sales, excluding depletion2 for the three month period was $5.0 million resulting in cash operating margins1 of approximately $1,200 per attributable gold equivalent ounce1.Note 1Sandstorm has included certain performance measures in this press release that do not have any standardized meaning prescribed by International Financial Reporting Standards (IFRS) including (i) attributable gold equivalent ounces and (ii) cash operating margin. The presentation of these non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these non-IFRS measures differently. Note these figures have not been audited and are subject to change. (i) As Sandstorm's operations are primarily focused on precious metals, the Company presents attributable gold equivalent ounces as it believes that certain investors use this information to evaluate the Company's performance in comparison to other mining companies in the precious metals mining industry who present results on a similar basis. The Company's royalty and other commodity stream revenue is converted to an attributable gold equivalent ounce basis by dividing the royalty and other commodity stream revenue for that period by the average realized gold price per ounce from the Company's gold streams for the same respective period. These attributable gold equivalent ounces when combined with the gold ounces sold from the Company's gold streams equal total attributable gold equivalent ounces sold and may be subject to change. (ii) The Company presents cash operating margin as it believes that certain investors use this information to evaluate the Company's performance in comparison to other companies in the precious metals mining ind...