Loading ...Sandstorm Gold Royalties Announces Record 2019 Third Quarter Results
4:38 pm ET October 30, 2019 (Accesswire) Print
Third Quarter Highlights
- Record attributable gold equivalent ounces sold1 of 17,289 ounces (Q3 2018: 14,314 ounces);
- Record revenue of $25.8 million (Q3 2018: $17.3 million);
- Record cash flows from operating activities, excluding changes in non-cash working capital1of $18.2 million (Q3 2018: $11.7 million);
- Average cash cost per attributable gold equivalent ounce1 of $288 resulting in cash operating margins1 of $1,203 per ounce (Q3 2018: $248 per ounce and $960 per ounce respectively);
- Net income of $6.2 million (Q3 2018: $2.1 million);
- Normal Course Issuer Bid: Under Sandstorm’s normal course issuer bid, the Company purchased and cancelled approximately 2.4 million shares during the third quarter of 2019;
- Commercial production at Aurizona: On July 1, 2019, Equinox Gold Corp. achieved commercial production at the Aurizona mine. Sandstorm has a 3%-5% sliding scale net smelter returns (“NSR”) royalty on the project. At gold prices less than or equal to $1,500 per ounce, the royalty is a 3% NSR royalty. At gold prices between $1,500 and $2,000 per ounce, the royalty is a 4% NSR royalty.