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(Kitco News) - Sandstorm Gold (NYSE: SAND) (TSX: SSL) reported Thursday that the company sold approximately 24,500 attributable gold equivalent ounces and realized record preliminary revenue of $49.8 million in Q2 2023.
In the comparable period in 2022, the company sold 19,276 attributable gold equivalent ounces and realized revenue of $36.0 million.
The company said that preliminary cost of sales, excluding depletion was $5.6 million in Q2 2023 resulting in cash operating margins of approximately $1,743 per attributable gold equivalent ounce.
In Q2 2022, Sandstorm’s cost of sales, excluding depletion was $5.3 million and cash operating margins were $1,593 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.
The company holds a portfolio of 250 royalties, of which 40 of the underlying mines are producing. Sandstorm indicated it plans to grow and diversify its low cost production profile through the acquisition of additional gold royalties.
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