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Sandstorm Gold Announces Second Quarter Results

VANCOUVER, July 31, 2013 /PRNewswire/ - Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (NYSE MKT: SAND, TSX: SSL) has released its unaudited results for the second quarter ended June 30, 2013 (all figures in U.S. dollars).

Second Quarter Highlights

  • Revenue of $13.4 million.
  • Gold sales of 7,473 ounces (additional 1,800 ounces deferred to third quarter due to timing and delay of shipments).
  • Average cash cost per ounce 1 of $417 resulting in cash operating margins 1 of $999 per ounce.
  • Operating cash flow of $8.5 million.
  • Strong balance sheet with over $94 million in cash.
  • Acquired a 1.0% net smelter returns royalty ("NSR") on the Paul Isnard gold project located in French Guiana and owned by Columbus Gold Corporation for an upfront payment of $5.0 million.
  • Acquired a 1.2% precious metal NSR on the Prairie Creek project located in the Northwest Territories, Canada from Canadian Zinc Corporation for $3.2 million (via a back-to-back agreement with Sandstorm Metals & Energy Ltd.).
  • Net loss of $17.1 million due to a non-cash impairment charge of $16.0 million on goodwill arising from the Premier Royalty Inc. ("Premier Royalty") business combination.

Sandstorm President & CEO Nolan Watson commented, "The second quarter was an overall good quarter for Sandstorm. We saw development progress at several of the mines and if timing of shipments had not affected the recording of an additional 1,800 ounces that was produced at Aurizona but not received until the beginning of the third quarter, we would have seen a record in terms of gold ounces sold."

Outlook

Based on the Company's existing gold streams and excluding any attributable production relating to Premier Royalty, forecasted 2013 attributable production is between 33,000 and 40,000 gold equivalent ounces, increasing to over 60,000 gold equivalent ounces per annum by 2016. This growth is driven by the Company's portfolio of gold streams with mines, all of which are either currently producing or expected to commence production by 2015.

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