(Kitco News) - On Wednesday, Sandstorm Gold (NYSE: SAND) (TSX: SSL) reported that the company sold approximately 82,400 attributable gold equivalent ounces and realized preliminary revenue of $148.7 million for the full 2022 year, both representing a record for the company.
For comparison, the company said it sold 67,548 attributable gold equivalent ounces and realized $114.9 million in revenue in 2021.
According to a press release, preliminary cost of sales, excluding depletion for the full 2022 year was $23.4 million resulting in cash operating margins of approximately $1,511 per attributable gold equivalent ounce ($16.8 million and $1,539 per attributable gold equivalent ounce for the comparable period in 2021, respectively).
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 holds a portfolio of 250 royalties, of which 39 of the underlying mines are producing. The company plans to grow and diversify its low cost production profile through the acquisition of additional gold royalties.
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