Welcome to our dedicated page for Sandstorm Gold news (Ticker: SAND), a resource for investors and traders seeking the latest updates and insights on Sandstorm Gold stock.
The news archive for Sandstorm Gold Ltd. (Sandstorm Gold Royalties, SAND) captures the company’s public announcements during its time as a listed precious metals-focused royalty company and through its acquisition by Royal Gold, Inc. Sandstorm’s releases describe a business model centered on providing upfront financing to mining companies in exchange for the right to a percentage of mine production for the life of the mine. The company reported that it held a portfolio of approximately 230 royalties, with about 40 producing mines.
In this news history, readers will find transaction and corporate development updates, including the plan of arrangement under which Royal Gold agreed to acquire all of the issued and outstanding common shares of Sandstorm. Several 2025 press releases detail shareholder approval of the arrangement, court approval, and the closing of the transaction, along with the exchange ratio of 0.0625 of a Royal Gold common share for each Sandstorm share. These items also discuss expectations for delisting Sandstorm’s shares from the Toronto Stock Exchange and the New York Stock Exchange and the intention to cease being a reporting issuer.
The archive also includes operational and financial news, such as announcements of record quarterly revenue, production in attributable gold equivalent ounces, and declared cash dividends. Additional releases outline Sandstorm’s perspective on growth opportunities within its royalty and streaming portfolio and its support for Royal Gold’s acquisition of a gold stream on the Kansanshi copper-gold mine, in the context of the broader combination of the two companies.
Because Sandstorm has since been acquired and its shares delisted, this page functions as a historical news record for the former SAND listing. Investors and researchers can use these archived articles to understand Sandstorm’s royalty-focused business model, the evolution of its portfolio, and the steps that led to its combination with Royal Gold.
Sandstorm Gold Royalties (NYSE: SAND, TSX: SSL) has declared its fourth quarterly cash dividend for 2024. The dividend of C$0.02 per common share will be paid on October 25, 2024, to shareholders of record as of October 15, 2024. This qualifies as an "eligible dividend" under the Canadian Income Tax Act. The company's Board of Directors will review the dividend program regularly and may make changes based on various factors, including financial position and profitability.
Sandstorm is a precious metals-focused royalty company with a portfolio of over 230 royalties, 41 of which are from producing mines. The company aims to grow and diversify its production profile through acquiring additional gold royalties.
Sandstorm Gold Royalties (NYSE: SAND, TSX: SSL) has provided updates on drilling and exploration activities across its portfolio of streaming and royalty assets. Key highlights include:
1. Lundin Gold's Bonza Sur gold discovery at Fruta del Norte, with plans for a maiden resource estimate by mid-2025 and a potential new 10,000-15,000 tpd open pit mine.
2. High-grade drill results from Bonterra's Phoenix JV Moss Target, including 38.33 g/t gold over 1.1m.
3. Awalé Resources reported significant gold intercepts at Odienné, including 45.7 g/t gold over 32m at the Charger Zone.
4. Antipa Minerals completed Phase 1 drilling at Minyari Dome, expanding the GEO-01 discovery with near-surface high-grade gold mineralization.
5. Troilus Gold announced a new West Rim Zone discovery near its main deposit, with ongoing drilling to expand resources.
Sandstorm Gold Royalties (NYSE: SAND) provided updates on key development projects in its streaming and royalty portfolio. Equinox Gold's Greenstone mine in Ontario officially opened, ramping up production with 19,750 ounces of gold in July. Ivanhoe's Platreef PGM mine in South Africa completed its Phase 1 concentrator, advancing towards 2025 production. Develop Global secured US$65 million for the Woodlawn copper-zinc mine restart in Australia, targeting production in mid-2025. Erdene's Bayan Khundii gold project in Mongolia reached 30% construction completion, aiming for first gold in mid-2025. Allied Gold closed US$53 million in stream financing for its Côte d'Ivoire Complex, supporting exploration and optimization efforts.
Sandstorm Gold Royalties (NYSE: SAND) reported its Q2 2024 financial results. Revenue decreased to $41.4 million from $49.8 million in Q2 2023, with 17,414 attributable gold equivalent ounces sold compared to 24,504 ounces in Q2 2023. The company achieved record cash operating margins of $2,043 per attributable gold equivalent ounce. Net income increased to $10.5 million from $2.7 million in Q2 2023.
Key highlights include the first gold pour at Equinox Gold's Greenstone mine, where Sandstorm holds a gold stream. The company continued deleveraging its balance sheet, making $27 million in net debt repayments. Sandstorm maintains its 2024 production forecast of 75,000 to 85,000 attributable gold equivalent ounces, with a five-year outlook of approximately 125,000 ounces.
Sandstorm Gold Royalties announced its preliminary sales and revenue figures for Q2 2024. The company sold approximately 17,400 gold equivalent ounces, generating $41.4 million in revenue. This is a decrease from Q2 2023, where sales were 24,504 ounces and revenue was $49.8 million. The preliminary cost of sales, excluding depletion, was $4.7 million, resulting in cash operating margins of $2,043 per gold equivalent ounce. The full financial results will be released on August 1, 2024, followed by a conference call on August 2, 2024.
On June 27, 2024, Sandstorm Gold Royalties announced its third quarterly cash dividend for 2024 of C$0.02 per common share. Shareholders of record as of July 16, 2024, will receive the dividend on July 26, 2024. This dividend qualifies as an 'eligible dividend' under the Income Tax Act (Canada). However, future dividends are subject to board discretion based on financial position and other factors. Non-resident investors will face Canadian withholding taxes. Sandstorm Gold Royalties is a precious metals-focused royalty company with a portfolio of approximately 230 royalties, including 41 producing mines.
Sandstorm Gold Royalties (NYSE: SAND, TSX: SSL) announced the results of its 2024 Annual General Meeting held on June 21 in Vancouver, BC.
At the meeting, 68% of issued common shares were represented, and shareholders voted in favor of all resolutions, including the re-election of eight directors: Nolan Watson, David Awram, David E. De Witt, Andrew T. Swarthout, John P.A. Budreski, Mary L. Little, Vera Kobalia, and Elif Levesque.
Notably, Nolan Watson received 99.33% of votes in favor, while Vera Kobalia received 97.85%.
The detailed voting results will be available on SEDAR+ and EDGAR.
Sandstorm Gold Royalties provided updates on its diversified royalty portfolio. Equinox Gold achieved its first gold pour at the Greenstone gold mine, forecasting an average annual production of 400,000 ounces of gold over the next five years. Develop Global reported a 37% rise in pre-tax NPV to A$658 million for its Woodlawn copper-zinc mine, alongside increased reserves and resources. Bonterra Resources announced promising initial drill results under its joint venture with Osisko Mining. Endeavour Mining shared progress on its exploration program at the Houndé gold mine, aiming to delineate new targets. Lundin Gold updated its Mineral Reserves at Fruta del Norte, showing significant increases. Sandstorm holds royalties on all these projects, expecting substantial returns from each.
Capella Minerals and JV partner Austral Gold have entered into a Share Purchase Agreement with Unico Silver to sell their 100% interest in Sierra Blanca S.A., which owns the Sierra Blanca gold-silver project in Argentina. Capella and Austral own 45.31% and 54.69% stakes, respectively. Unico will acquire the project for 5,000,000 ordinary shares. This transaction aligns with Capella's strategy to focus on Scandinavian assets and divest non-core assets in the Americas. The deal is subject to regulatory approvals from the ASX and TSXV exchanges and requires Unico to get shareholder approval. Part of the consideration will be transferred to Sandstorm Gold to settle outstanding maintenance payments.
Sandstorm Gold Royalties reported financial results for the first quarter of 2024. The revenue was $42.8 million, with 20,316 attributable gold equivalent ounces. The company focused on de-leveraging its balance sheet and made $20 million in net repayments. Additionally, they announced the sale of non-core assets for $21.0 million and the renewal of the Normal Course Issuer Bid. The outlook for 2024 forecasts between 75,000 and 90,000 attributable gold equivalent ounces.