Sandstorm Gold Royalties increases revenue in third quarter
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(Kitco News) - Precious metals-focused royalty company Sandstorm Gold (NYSE: SAND, TSX: SSL) announced today that the company sold approximately 21,100 attributable gold equivalent ounces and realized preliminary revenue of $41.2 million in Q3 2023.
In the comparable period of 2022, the company said it sold 22,606 attributable gold equivalent ounces and generated $39.0 million in revenue.
Sandstorm added that preliminary cost of sales, excluding depletion for the three month period was $4.6 million resulting in cash operating margins of approximately $1,700 per attributable gold equivalent ounce.
In Q3 2022, the company’s cost of sales was $7.3 million resulting in cash operating margins of $1,383 per attributable gold equivalent ounce.
Sandstorm is a precious metals-focused royalty company that provides upfront financing to mining companies and receives the right to a percentage of production from a mine, for the life of the mine. Sandstorm holds a portfolio of approximately 250 royalties, of which 40 of the underlying mines are producing.
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