Sandstorm Gold Meets 2012 Guidance
Sandstorm Gold Ltd. (TSX:SSL, NYSE:SAND) announced fourth quarter and 2012 year end results.
As quoted in the press release:
Fourth Quarter Highlights (3 Months)
- Gold sales totaled 7,243 ounces.
- Operating cash flow was $6.5 million.
- Average cash cost per ounce1 was $410 resulting in cash operating margins2 of $1,305 per ounce.
- Net income was $7.4 million.
- Entered into a gold streaming agreement with Munity Gold Inc. to purchase 15% of the life of mine gold produced from the Deflector Mine.
Sandstorm’s President and CEO, Nolan Watson, said:
I am happy to report that we met our 2012 guidance and had a strong year in terms of gold production and cash flow. We added value for our shareholders by completing two gold streams and three gold royalty deals during the year and intend to continue to deploy our cash into accretive gold stream opportunities.