Sandstorm Gold Royalties posts record revenue in 2020
(Kitco News) - Sandstorm Gold (NYSE: SAND, TSX: SSL) reported on Monday that the company has sold approximately 52,200 attributable gold equivalent ounces and realized preliminary record revenue of $93.0 million for the full 2020 year.
During the three months ended December 31, 2020, the company sold approximately 15,800 attributable gold equivalent ounces and realized preliminary record revenue of $29.7 million.
Preliminary cost of sales, excluding depletion for the three month period was $3.9 million resulting in cash operating margins of approximately $1,630 per attributable gold equivalent ounce.
Sandstorm is a gold royalty company that provides upfront financing to gold mining companies that are looking for capital and in return, receives the right to a percentage of the gold produced from a mine, for the life of the mine.
Sandstorm Gold Royalties has acquired a portfolio of 201 royalties, of which 24 of the underlying mines are producing.