GOLD-COPPER-SILVER: Yamana, Sandstorm ink streaming deal

TORONTO – Yamana Gold has signed three streaming deals with Sandstorm Gold that will put $148 million in Yamana’s treasury. In return, […]
TORONTO – Yamana Gold has signed three streaming deals with Sandstorm Gold that will put $148 million in Yamana’s treasury. In return, Yamana has issued Sandstorm 15 million common share purchase warrants at a strike price of $3.50 and a term of five years. Sandstorm will make an additional payment of $4 million to Yamana in six months. Included in the deal are a gold stream related to Agua Rica, a copper stream from Chapada, and a silver stream from the Cerro Moro, Minera Florida and Chapada mines. Yamana said it intends to use the proceeds of the agreement to reduce the balance owning on its revolving credit facility. The company is considering additional strategies to reduce its credit facility balance to zero. Sandstorm announced separately that it is raising US$25 million through a syndicate of underwriters with which to reduce its own revolving credit facility. Details of the Yamana-Sandstorm transaction are available in the Oct. 27, 2015, news release posted at Yamana.com.

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