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Sandstorm Gold Royalties Provides Corporate and Asset Updates
VANCOUVER, BC / ACCESSWIRE / July 16, 2018 / Sandstorm Gold Ltd. ("Sandstorm Gold Royalties,...
About this update from Silver Sands Resources Corp.
[{"type":"text","content":"Sandstorm Gold Royalties Provides Corporate and Asset UpdatesVANCOUVER, BC / ACCESSWIRE / July 16, 2018 / Sandstorm Gold Ltd. (\"Sandstorm Gold Royalties,'' \"Sandstorm\" or the \"Company\") (NYSE American: SAND; TSX: SSL) is pleased to provide an update related to share repurchases under the Company's Normal Course Issuer Bid (\"NCIB\"), recent developments from the Company's royalty portfolio, as well as the acquisition of eight royalties on exploration-staged properties.- Normal Course Issuer Bid Update Since the renewal of the NCIB on April 5, 2018, Sandstorm has acted on its stated intention to repurchase shares of the Company. Approximately 1.4 million shares have been repurchased since April. Sandstorm may purchase up to a maximum of 9.2 million shares under the current NCIB program.- Yamana Declares Commercial Production at Cerro Moro and Increases Exploration BudgetYamana Gold Inc. (\"Yamana\") announced the declaration of commercial production at the Cerro Moro project in Argentina in late June 2018. Yamana is now focusing on optimizing the operation to ensure that gold and silver production and operating costs reach guidance levels.The exploration budget at Cerro Moro for 2018 has increased from $9.0 million to $11.2 million. Yamana has set an exploration objective of adding one million gold equivalent ounces to the mineral inventory at Cerro Moro.The objectives for the 2018 exploration program are:- Convert 110,000 gold equivalent ounces of inferred resources to measured and indicated mineral resources;- Discover 250,000 gold equivalent ounces of new inferred mineral resources; and- Define future drill targets through scout drilling, soil and rock sampling, and mapping.For more information, visit the Yamana website at www.yamana.com and see press releases dated May 16, 2018 and June 26, 2018.Beginning in 2019, Sandstorm has a silver stream agreement to purchase an amount of silver from Cerro Moro equal to 20% of the silver produced, up to a maximum of 1.2 million ounces of silver annually, until Yamana has delivered to Sandstorm 7.0 million ounces of silver; then 9.0% of the silver produced thereafter for the life of the mine. Sandstorm will make ongoing payments for each ounce of silver received, equal to 30% of the spot price per ounce of silver.- Endeavour Announces High Grade Discoveries at Houndé Endeavour ...