VANCOUVER (miningweekly.com) – Canadian gold streaming and royalty company Sandstorm Gold has acquired 22 net smelter return (NSR) royalties during the first quarter of 2017 for $1.9-million in cash.
The assets include royalties on development-stage, advance exploration-stage and other exploration-stage projects located in Canada, Mexico and Peru.
"The collection of royalties that we have acquired so far in 2017 have added exploration potential in stable jurisdictions, increasing the optionality in our portfolio which is now up to 155 streams and royalties. We have over $30-million in cash and $110-million available on our revolving line of credit and we are working diligently to continue deploying our capital into accretive acquisitions that will add value to shareholders,” stated Sandstorm president and CEO Nolan Watson.
Sandstorm provides upfront financing to gold mining companies that are looking for capital and, in return, receives the right to a percentage of the gold produced from a mine, for the life of the mine. Of Sandstorm’s portfolio, 21 of the underlying mines are producing mines.