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Sandstorm Gold Provides Updates on Normal Course Issuer Bid and Projects
Dec. 28, 2016 08:33AM PST
Gold InvestingSandstorm Gold (TSX:SSL) has provided an update regarding its normal course issuer bid (NCIB) in addition to exploration and development progress at a number of assets underlying the company’s streams and loyalties. As quoted in the press release: Sandstorm previously announced a NCIB (see press release dated March 30, 2016), providing the Company with the …
Sandstorm Gold (TSX:SSL) has provided an update regarding its normal course issuer bid (NCIB) in addition to exploration and development progress at a number of assets underlying the company’s streams and loyalties.
As quoted in the press release:
Sandstorm previously announced a NCIB (see press release dated March 30, 2016), providing the Company with the option to purchase its common shares when management believes that the common shares are undervalued by the market. The fourth quarter of 2016 has seen significant declines in the price of gold, impacting Sandstorm’s share price and market valuation. As a result, the Company has recently purchased some of its common shares. Since December 15, 2016, the Company has purchased 545,977 common shares at a weighted average price of C$4.56 per common share.
Under the NCIB rules of the Toronto Stock Exchange, daily purchases cannot exceed 49,211 common shares subject to the Company’s ability to make block purchases.