Sandstorm Gold Ltd N — Sandstorm Gold — FY2023 Earnings Presentation
18 slides from Sandstorm Gold Ltd N's earnings presentation, Feb 16, 2024
Slide 1: Annual Results Conference Call
Annual Results Conference Call
Slide 2: Cautionary Note Regarding Forward-Looking Information and Non-IFRS Measures
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION AND NON-IFRS MEASURES Except for the statements of historical fact contained herein, the information presented constitutes “forward-looking statements”, within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 19
Slide 3: Corporate Update
Corporate Update SANDSTORM GOLD ROYALTIES Q4 CONFERENCE CALL
Slide 4: Growing and Sustainable Production
ESTIMATED GOLD EQUIVALENT PRODUCTION1 160koz Growing and Sustainable 140koz 140koz 120koz 100koz Production 80koz MARA Stream Option Attributable Production Range 60koz Hod Maden Gold Stream 40koz 20koz koz 2024 2029 2038 1) Refer to cautionary note regarding forward-looking statements and Non-IFRS
Slide 5: Debt Repayment
$600 M $637 M Debt Repayment Including min $40M of non-core $400 M $419 M asset sales2 by end of 2024 $350 M Sandstorm holds approx. $240 $200 M million in loans to other mining companies and $75 million in equity investments3 $0 M Debt Associated with Bank Debt Bank Debt 1 2022 Acquisitions Feb 16,
Slide 6: Increasing Cash Flow to Over $200 million
+$200M $200 M Increasing Cash Flow to Over $200 million $140M $150 M PORTFOLIO CASH FLOWS1 in US$ Millions $100 M Gold Silver Copper $2,000/oz $22/oz $3.70/lb MARA Stream Option $50 M Antamina Cash Sweep Asset Cash Flows Hod Maden Gold Stream $0 M 2024 2029 1) Cash flows from operating activities at
Slide 7: Strategic Priorities & Growth Catalysts
Strategic Priorities & Growth Catalysts • Bank Debt below $350M (end of 2024) • Share Buybacks (once debt <$350M) • Greenstone & Platreef First Production • Hod Maden Construction • MARA Gold Stream SANDSTORM GOLD ROYALTIES 7 Q4 CONFERENCE CALL
Slide 8: Financial Discussion
Financial Discussion SANDSTORM GOLD ROYALTIES Q4 CONFERENCE CALL
Slide 9: Summary of Annual Results
SUMMARY OF ANNUAL RESULTS YEAR ENDED Attributable Gold Sales & Royalty Total Sales, Royalties, and Income Average Realized Gold Price per ounce Equivalent Ounces 1 Revenue (US$) from other interests 1 (US$) from the Company’s gold streams (US$) 200 $191M 2,300 $180M 180 2,200 160 $149M 140 $121M 2,1
Slide 10: Summary of Annual Results
SUMMARY OF ANNUAL RESULTS YEAR ENDED In US$M (except per ounce amounts) Dec 31, 2023 Dec 31, 2022 Total revenue $ 179.6 $ 148.7 Attributable Gold Equivalent ounces 1 97,245 82,376 Sales $ 106.6 $ 97.8 Royalty revenue 73.1 50.9 Average realized gold price per ounce from the Company’s 1,929 1,795 gold
Slide 11: Summary of Quarterly Results
SUMMARY OF QUARTERLY RESULTS QUARTERS ENDED In US$M (except per ounce amounts) Q4 2023 Q4 2022 Total revenue $ 44.5 $ 38.4 Attributable Gold Equivalent ounces 1 23,250 21,753 Sales $ 26.4 $ 27.7 Royalty revenue 18.1 10.8 Average realized gold price per ounce from the Company’s 1,948 1,746 gold strea
Slide 12: Attributable Gold Equivalent Ounces Sold
ATTRIBUTABLE GOLD EQUIVALENT OUNCES SOLD 1 FY 2023 Q1 Q2 Q3 Q4 Cerro Moro 13,585oz Mercedes 12,794oz Antamina 7,719oz Chapada 7,015oz Aurizona 5,087oz Bonikro 4,797oz Relief Canyon 4,772oz Caserones 4,181oz Fruta del Norte 3,999oz Vale Royalties 3,109oz Houndé 2,967oz Blyvoor 2,292oz Other 24,928oz
Slide 13: Attributable Gold Equivalent Ounces Sold FY 2023 by Region and Metal
ATTRIBUTABLE GOLD EQUIVALENT OUNCES SOLD1 FY 2023 By Region By Metal North America Precious Metals Canada Base Metals 2% South America Copper Other Diamonds 14% 27% 13% 19% 39% 71% 47% 1) Refer to Non-IFRS Measures on Page 2. SANDSTORM GOLD ROYALTIES 13 Q4 CONFERENCE CALL
Slide 14: Asset Highlights
Asset Highlights SANDSTORM GOLD ROYALTIES Q4 CONFERENCE CALL
Slide 15: Fruta del Norte
Fruta del Norte Largest Exploration Program & Throughput Expansion OPERATOR • Near-Mine Exploration: 46,000 metres, $30 million budget Lundin Gold Inc. • Regional Exploration: 10,000 metres, $12 million budget LOCATION Ecuador • Conversion: 9,815 metres (included in sustaining capital) STAGE PRODUCT
Slide 16: Horne 5
Horne 5 Falco and Glencore Enter into Operating Agreement OPERATOR This agreement is a key catalyst for the project to move Falco Resources Ltd. forward with the next stages of development, including LOCATION permitting and financing. Quebec, Canada STAGE Development TERMS 2.0% NSR Royalty See Falco
Slide 17: Bayan Khundii
Bayan Khundii Construction Commences at Bayan Khundii OPERATOR • Secured debt financing to fund construction Erdene Resource Development Corp. • First gold production expected in H2 2025 LOCATION Mongolia STAGE 2015 2018 2020 2024 Development Discovery Maiden Feasibility Construction Resource & PEA
Slide 18: Q&A
Q&A