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Sandstorm Gold Ltd. reported developments tied to its precious metals royalty business and its completed acquisition by Royal Gold. The company provided upfront financing to mining companies in exchange for rights to a percentage of mine production for the life of the mine, with news covering royalty and stream exposure, quarterly dividends, sales, revenue and credit-facility disclosures.
Later company updates centered on the statutory plan of arrangement through which Royal Gold indirectly acquired all issued and outstanding Sandstorm common shares. Subsequent disclosures addressed shareholder voting, court and regulatory approvals, delisting of the shares, and the steps to cease public reporting and deregister the securities.
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On April 5, 2023, Sandstorm Gold Ltd. (NYSE: SAND) reported record performance for the first quarter of 2023, with approximately 28,400 attributable gold equivalent ounces sold, leading to preliminary revenue of $44.0 million. This marks a significant increase from the $35.4 million reported for the same period in 2022. Total sales, royalties, and income reached $54.0 million, driven by a one-time payment of $10.0 million linked to a royalty agreement. Cash operating margins were strong, averaging $1,650 per attributable gold equivalent ounce. Sandstorm also announced the renewal of its normal course issuer bid (NCIB), allowing the purchase of up to 24.0 million common shares, reflecting its strategy to capitalize on undervalued shares.
Sandstorm Gold Ltd. (NYSE: SAND) has announced a cash dividend of C$0.02 per common share for the second quarter of 2023. Shareholders of record as of April 18, 2023 will receive the dividend on April 28, 2023. This dividend qualifies as an 'eligible dividend' as per the Income Tax Act in Canada. The company emphasizes that future dividends will depend on various factors, including financial position and profitability, and no guarantees are provided for payment of future dividends. Additionally, dividends for non-residents will be subject to Canadian withholding taxes.
Sandstorm Gold Royalties (NYSE: SAND) reported record results for the year ending December 31, 2022. Highlights include a record 82,376 attributable gold equivalent ounces, generating revenue of $148.7 million, a 29% increase from 2021. Cash flows from operations reached $109.8 million, while net income rose to $78.5 million, up from $27.6 million in 2021. The company made significant acquisitions, including Nomad Royalty Company, enhancing production capacity. Despite a net loss of $2.1 million in Q4 2022, attributable gold equivalent ounces for 2023 are forecasted to be between 85,000 and 100,000 ounces. Overall, Sandstorm is strategically positioned for growth.
Sandstorm Gold Ltd. (NYSE: SAND) will announce its 2022 fourth quarter and annual results on February 21, 2023, post-market. A conference call is scheduled for February 22, 2023, at 8:30am PST for further discussion. Sandstorm operates as a gold royalty company, providing upfront financing to mining companies in exchange for a percentage of the gold produced. It currently holds a portfolio of 250 royalties, with 39 producing mines. The company aims to enhance its low-cost production assets by acquiring additional royalties.
Sandstorm Gold Ltd. (NYSE: SAND) reported record sales and revenue for 2022, achieving approximately 82,400 attributable gold equivalent ounces and preliminary revenue of $148.7 million. This reflects significant growth from 67,548 ounces and $114.9 million in 2021. The cost of sales was $23.4 million, resulting in cash operating margins of $1,511 per gold equivalent ounce. For Q4 2022, sales were about 21,800 ounces with revenue of $38.4 million, compared to 16,586 ounces and $29.8 million in Q4 2021. These preliminary figures are subject to change pending final adjustments.
Sandstorm Gold Ltd. has announced its first quarterly cash dividend for 2023, set at C$0.02 per common share, payable on January 27, 2023, to shareholders of record as of January 17, 2023. This dividend qualifies as an 'eligible dividend' under Canada's Income Tax Act. Future dividends will depend on the Board's approval and the company's financial health, profitability, and other relevant factors. The company holds a portfolio of 250 royalties, with 39 mines currently producing.