Sandstorm Sells Record Gold-Equivalent Ounces In 2017
Sandstorm Gold (NYSE: SAND; TSX: SSL) sold some 54,600 gold-equivalent ounces in 2017, the highest yearly total in company history. The ounces were generated from 20 streams and royalties, with approximately 80% coming from operations run by major and mid-tier mining companies, Sandstorm says. In other news, the company also reports it has completed the sale of $15 million worth of Equinox convertible debentures and $3.2 million of Equinox common shares to Ross Beaty. The sale was previously announced on Oct. 25 and was subject to the closing of the business combination between Trek Mining, NewCastle Gold Ltd. and Anfield Gold Corp., which was completed on Dec. 22. The new entity, Equinox, has approximately C$98 million in cash and marketable securities and a US$85 million credit facility. With the available capital, the Aurizona project in Brazil is fully funded to production, Sandstorm says.