Sandstorm CEO discusses impact of rising gold prices

VANCOUVER — For streaming financiers like Sandstorm Gold (TSX: SSL; NYSE-MKT: SAND) rising precious metal prices are a bit of a double-edged sword. On one […]

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VANCOUVER — For streaming financiers like Sandstorm Gold (TSX: SSL; NYSE-MKT: SAND) rising precious metal prices are a bit of a double-edged sword. On one hand, the company’s existing streams, royalties and equity holdings have become more valuable, but it also means that closing future deals becomes more competitive as reborn equity markets offer mining companies access to alternate pools of capital. On Aug. 3 Sandstorm reported its second quarter results, which were headlined by operating cash flow of nearly US$9 million and net income of US$5.2 million. The company reported gold equivalent sales of roughly 12,500 oz at average cash costs per attributable gold ounce of US$261 per oz. Perhaps more importantly, Sandstorm is now completely debt free and has around US$110 million in available capital to pursue new opportunities. “It’s clear that rising gold prices have increased the equity capital available to mining companies. I’d say overall that’s a good thing for us since it also leads to higher cash flows and higher exploration spending in the industry,” elaborated president and CEO Nolan Watson during a conference call. Read the entire story at www.NorthernMiner.com/news/sandstom

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