Sandstorm Gold posts record gold-equivalent ounce sales in Q2
Sandstorm Gold Ltd. (NYSE MKT: SAND, TSX: SSL) reported late Tuesday afternoon that the company sold approximately 16,400 gold-equivalent ounces during the Q2 2019, a record for the Vancouver-based gold royalty company and a 16.6% improvement over the 14,071 ounces sold in Q1.
Based on its existing royalties, the company forecasts gold-equivalent ounces sold to be between 63,000 and 70,000 ounces this year, with gold-equivalent production rising to over 140,000 ounces in 2023.
Sandstorm Gold currently holds a portfolio of 188 royalties around the world, including 21 on producing mines. These include Yamana Gold’s Chapada mine in Brazil and First Majestic Silver’s Santa Elena mine in Mexico.
Earlier this year, Sandstorm secured a $42.5 million financing package with Americas Silver Corp. that includes a $25 million gold stream and royalty on the Relief Canyon project in Nevada.