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(Kitco News) - On Wednesday, Sandstorm Gold (NYSE: SAND) (TSX: SSL) reported that the company sold approximately 28,400 attributable gold equivalent ounces and realized preliminary revenue of $44.0 million in Q1 2023, both representing a record for the company.
In a press release, Sandstorm said it had preliminary total sales, royalties, and income from other interests of $54.0 million for the three month period, also a record for the company.
The company’s preliminary cost of sales, excluding depletion for the three month period was $6.5 million resulting in cash operating margins of approximately $1,650 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 holds a portfolio of 250 royalties, of which 39 of the underlying mines are producing. Sandstorm said it plans to grow and diversify its low cost production profile through the acquisition of additional gold royalties.
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