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exnay on the feriteay... It be recessay. 
Evergrand lehman train derailment!
Physical Au/Ag only for hedge/SHTF, otherwise JR miners with actual production.
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Created
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09/27/11
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COMPANY HIGHLIGHTS
Operating Results
| · | Record Attributable Gold Equivalent ounces sold (as defined hereinafter), for the three months and year ended December 31, 2016 were 13,245 ounces and 49,731 ounces, respectively, compared with 8,951 ounces and 45,146 ounces for the comparable periods in 2015. | |
| · | Revenue for the three months and year ended December 31, 2016 was $16.5 million and $62.4 million, respectively, compared with $9.9 million and $52.7 million for the comparable periods in 2015. | |
| · | Cash flows from operating activities for the three months and year ended December 31, 2016 were $10.1 million and $39.0 million, respectively, compared with $5.0 million and $30.8 million for the comparable periods in 2015. | |
| · | Cost of sales, excluding depletion for the three months and year ended December 31, 2016 were $3.3 million and $12.8 million, respectively, compared with $2.3 million and $13.6 million for the comparable periods in 2015. | |
| · | Average cash costs for the three months and year ended December 31, 2016 of $2501 and $2581 per Attributable Gold Equivalent ounce, respectively, compared with $2581 and $3001 per Attributable Gold Equivalent ounce for the comparable periods in 2015. |
Significant Acquisitions
| · | During the year ended December 31, 2016, the Company acquired a royalty portfolio consisting of 52 royalties from Teck Resources Limited and its affiliates for consideration of $16.8 million, of which $1.4 million was paid in cash and $15.4 million in common shares of the Company. The transaction provides asset diversification; immediate cash flow and significant cash flow growth potential with estimated cash flow of over $10 million per year over the long term; and strong counterparties including Barrick Gold Corporation, Glencore plc, KGHM Polska Miedz SA, Newmont Mining Corporation and Kinross Gold Corporation. |
Available Capital
| · | Strong balance sheet with over $20 million in cash and when combined with an undrawn revolving credit facility of $110 million, the Company has over $130 million in available capital to invest in future Gold Streams. | |
| · | During 2016, Sandstorm recognized a fair value increase of $39 million within the Company’s investment portfolio. With over $80 million in investments and loan receivables, the Company is well positioned to add future Gold Streams and royalties upon the monetization of these balances. | |
| · | On June 1, 2016, Sandstorm amended its revolving credit facility, extending the term to four years (maturing in July 2020). The revolving credit facility allows the Company to borrow up to $110 million for acquisition purposes, from a syndicate of banks including the Bank of Nova Scotia, Bank of Montreal, National Bank of Canada and Canadian Imperial Bank of Commerce. | |
| · | On July 6, 2016, the Company completed an equity financing for aggregate gross proceeds of $57.5 million. Upon closing of the financing, the majority of the net proceeds were used to reduce the balance of the Company’s revolving credit facility. As a result, the Company currently has no bank debt and the entire $110 million revolving credit facility remains available for acquisition purposes. |
Other
| · | On January 26, 2017, Orezone Gold Corporation exercised its option to repurchase the royalty on the Bomboré gold project for $3.6 million, representing a 20% premium to the original upfront payment. Sandstorm retains a right of first refusal on any future stream or royalty financings related to the Bomboré gold project. | |
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On February 1, 2017, Luna Gold announced a merger with JDL Gold Corp, which if completed will create a multi-asset mining company with over $70 million in cash. This would place the newly merged company in a position to advance the Aurizona gold project wherein Sandstorm holds a 3% to 5% sliding scale NSR. Concurrent with the closing of the transaction, the term debt facility that is owed by Luna Gold to Sandstorm, in the amount of $20 million plus accrued interest, is expected to be settled in equity, or a combination of cash and equity of the newly combined entity. |
