Sandstorm reports record sales and royalty revenue in Q1 2021
(Kitco News) - Sandstorm Gold (NYSE: SAND, TSX: SSL) announced Monday that the company sold approximately 17,400 attributable gold equivalent ounces and realized preliminary revenue of $31.0 million during the three months ended March 31, 2021, both representing a record for the company.
According to the company’s statement, preliminary cost of sales, excluding depletion for the three-month period was $5.4 million resulting in cash operating margins of approximately $1,470 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 has acquired a portfolio of 200 royalties, of which 24 of the underlying mines are producing.