Schedule 13G/A: Orion discloses 0 SAND shares, 0% stake

Rhea-AI Filing Summary

Orion Resource Partners (USA) LP filed Amendment No. 3 to Schedule 13G regarding Sandstorm Gold Ltd. (SAND), reporting beneficial ownership of 0 Common Shares, or 0% of the class as of September 30, 2025.

The filing shows 0 sole or shared voting power and 0 sole or shared dispositive power. Orion certifies the securities were acquired and are held in the ordinary course of business and not to change or influence control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

SANDSTORM GOLD LTD

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

80013R206

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 80013R206

1

Names of Reporting Persons

ORION RESOURCE PARTNERS (USA) LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SANDSTORM GOLD LTD
(b)	Address of issuer's principal executive offices: 733 Seymour Street, Suite 3200, Vancouver, British Columbia, Canada, V6B OS6
Item 2.
(a)	Name of person filing: This Statement is filed on behalf of Orion Resource Partners (USA) LP (the "Reporting Person").
(b)	Address or principal business office or, if none, residence: The address of the principal business office of the Reporting Person is 1045 Avenue of the Americas, New York, NY 10018.
(c)	Citizenship: The Reporting Person is a Delaware limited partnership.
(d)	Title of class of securities: Common Shares, no par value
(e)	CUSIP No.: 80013R206
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As of September 30, 2025, the Reporting Person may be deemed the beneficial owner of 0 Common Shares.
(b)	Percent of class: As of September 30, 2025, the Reporting Person may be deemed the beneficial owner of 0% of the Common Shares outstanding.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

ORION RESOURCE PARTNERS (USA) LP

Signature:	/s/ Rick Gashler
Name/Title:	Rick Gashler, Chief Compliance Officer
Date:	11/14/2025

FAQ

What did Orion Resource Partners report about SAND in this Schedule 13G/A?

Orion reported beneficial ownership of 0 Common Shares of Sandstorm Gold Ltd., representing 0% of the class as of September 30, 2025.

What is Orion’s voting and dispositive power over Sandstorm Gold shares?

The filing lists 0 sole voting power, 0 shared voting power, 0 sole dispositive power, and 0 shared dispositive power.

What is the date of event for Orion’s ownership report on SAND?

The date of event is September 30, 2025.

Which form did Orion file for Sandstorm Gold (SAND)?

Orion filed Schedule 13G/A (Amendment No. 3).

Does Orion claim ownership of 5% or more of Sandstorm Gold?

No. The filing indicates ownership of 5 percent or less, specifically 0%.

What does Orion certify about its intent regarding SAND shares?

Orion certifies the securities were acquired and are held in the ordinary course of business and not to change or influence control.