Equity Field Notes from temporal sources

[DanWebzster]

SAND (update)

The bullish case revolves around capitalizing on non-operating assets to avoid future equity raises.

Only 20 of its 188 royalty agreements are producing.

SAND has $435mn in non-operating assets.

Potential Catalysts to unlock this value:

1) PoG. If PoG ever trends higher, SAND is one of the first stocks I would buy.

2) Hod Maden. Although SAND did not overpay for this property, the risk of Turkish turmoil made it a horrible decision that most knowledgeable investors would not have taken. Possibly being a Canadian company will help SAND avoid having this property nationalized.