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Sandstorm Gold Sells Stake in AuRico Metals for Proceeds of US$10 Million
Sandstorm Gold Sells Stake in AuRico Metals for Proceeds of US$10 Million Sandstor...
About this update from Silver Sands Resources Corp.
[{"type":"text","content":"\n\n\n\nSandstorm Gold Sells Stake in AuRico Metals for Proceeds of US$10 Million\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\n\n\n\n\n\nSandstorm Gold Sells Stake in AuRico Metals for Proceeds of US$10 Million\nCanada NewsWire\nVANCOUVER, April 6, 2016\n\n\n\nVANCOUVER, April 6, 2016 /CNW/ - Sandstorm Gold Ltd. (\"Sandstorm\" or the \"Company\") (NYSE MKT: SAND, TSX: SSL) has sold its previously announced holdings in the common shares of AuRico Metals Inc. (\"AuRico\") for net proceeds of over US$10 million. The proceeds will be used to reduce the balance on the Company's revolving credit facility to US$66 million. The shares were disposed at a price of $0.69, representing a 21% return since Sandstorm's initial purchase of AuRico common shares in July 2015.  \n\nThe asset sale represents a continuation of Sandstorm's strategy to monetize non-core assets in order to reduce the Company's outstanding debt. \n\nABOUT SANDSTORM GOLD\n\nSandstorm Gold Ltd. is a gold streaming and royalty company. Sandstorm provides upfront financing to gold mining companies that are looking for capital and in return, receives the right to a percentage of the gold produced from a mine, for the life of the mine. Sandstorm has acquired a portfolio of 132 streams and royalties, of which 19 of the underlying mines are producing. Sandstorm plans to grow and diversify its low cost production profile through the acquisition of additional gold streams and royalties. \n\nFor more information visit: www.sandstormgold.com \n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION\n\nThis press release contains \"forward-looking statements\", within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Sandstorm. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, the estimation of mineral reserves and resources, realization of mineral ...