Sandstorm Sells Record Gold-Equivalent Ounces In 2017
Sandstorm Gold(NYSE: SAND;TSX: SSL)sold some 54,600 gold-equivalent ounces in 2017, the highest yearly total incompany history. The ounces were generated from 20 streams and royalties, withapproximately 80% coming from operations run by major and mid-tier miningcompanies, Sandstorm says. In other news, the company also reports it hascompleted the sale of $15 million worth of Equinox convertible debentures and$3.2 million of Equinox common shares to Ross Beaty. The sale was previouslyannounced on Oct. 25 and was subject to the closing of the business combinationbetween Trek Mining, NewCastle Gold Ltd. and Anfield Gold Corp., which wascompleted on Dec. 22. The new entity, Equinox, has approximately C$98 millionin cash and marketable securities and a US$85 million credit facility. With theavailable capital, the Aurizona project in Brazil is fully funded toproduction, Sandstorm says.
By Allen SykoraFor Kitco News
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