....Sandstorm Gold Ltd. ("Sandstorm" or "the Company") (TSX VENTURE: SSL) has released its unaudited results for the third quarter ended September 30, 2011 (all figures in U.S. dollars ).
Third Quarter Highlights
-- Record operating cash flow of $8.6 million, a 223% increase from the
previous quarter
-- Record gold sales of 5,561 ounces, a 50% increase from the previous
quarter
-- Net earnings were $4.4 million, a 90% increase from the previous quarter
-- The Company completed a gold stream with Donner Metals Ltd. to purchase
17.5% of the life of mine gold produced from the Bracemac-McLeod
development project at $350 per ounce
-- Gold production reached feasibility levels at both the Aurizona Mine and
the Santa Elena Mine
-- Significant progress has been made on the development of the Ming Mine,
which is expected to begin operating by early 2012
"A significant ramp up in gold production at multiple mines together with an all-time high average realized gold price has resulted in exceptionally strong operating cash flows for Sandstorm," said President and CEO, Nolan Watson. "With our cash on hand and robust future operating cash flows, we are well positioned to continue to grow the company through the acquisition of additional gold streams."
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