Sandstorm Gold Acquires Gold Stream From Mutiny Gold’s Deflector Project

Sandstorm Gold Ltd. (TSX:SSL, AMEX: SAND, NYSE:SAND) announced that it acquired a gold stream from Mutiny Gold (ASX:MYG) from the Deflector Project in Western Australia.

As quoted in the press release:

Sandstorm has agreed to purchase an amount equal to 15% of the gold produced from Deflector.Pursuant to this agreement, Sandstorm will make an initial upfront cash payment to Mutiny of US$9 million and will make a future cash remittance of US$29 million (the “Second Deposit”) once Mutiny has received final mine permits for Deflector as well as completed certain funding conditions.

Sandstorm’s President and CEO, Norman Watson, said:

The transaction with Mutiny Gold marks Sandstorm’s first foray into the Australian market which has had very limited exposure to stream financing.

To view the whole press release, click here.