Sandstorm Gold Recognizes Record Gold Sales in the Fourth Quarter
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/15/12 -- Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (TSX VENTURE: SSL) is pleased to announce its results for the fourth quarter and year ended December 31, 2011 (all figures in U.S. dollars).
Fourth Quarter Highlights (3 Months)
2011 Highlights (12 Months)
"2011 was a breakout year for Sandstorm Gold. Not only did our attributable gold production and cash flow increase significantly, but we saw the Company's mineral resources expand by over 80%," said Sandstorm President & CEO Nolan Watson. "The focus for 2012 is to complete additional gold streaming deals and with a strong cash position, a $50 million revolving line of credit, and over $3 million in cash flow coming in on a monthly basis, we are well capitalized to do so."
Outlook
In 2012, Sandstorm will be purchasing gold from five mines, all of which are expected to increase production throughout the year. Sandstorm's forecasted attributable production for 2012 is 25,000 to 35,000 ounces of gold increasing to over 50,000 ounces of gold per annum by 2015.
Further details of the individual commodity streams can be found within Management's Discussion and Analysis contained in the Company's 2011 annual report and on the Company website.
Webcast and Conference Call Details
A conference call will be held on Friday, March 16, 2012 starting at 12:00 pm EST to further discuss the fourth quarter results. To participate in the conference call use the following dial-in numbers:
Local / International: 647-788-4916
North American Toll-Free: 877-214-4966
It is recommended that participants dial in five minutes prior to the commencement of the conference call. to access an audio webcast of the conference call which will also be available on the Sandstorm website.
ABOUT SANDSTORM GOLD
Sandstorm Gold Ltd. is a growth focused resource based company that seeks to complete gold purchase agreements with companies that have advanced stage development projects or operating mines. A gold purchase agreement involves Sandstorm making an upfront cash payment to its partners and in exchange, Sandstorm receives the right to purchase a percentage of the gold produced for the life of the mine, at a fixed price per ounce. Sandstorm helps other companies in the resource industry grow their business, while acquiring attractive assets in the process.
Sandstorm is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed gold purchase agreements with Luna Gold Corp., SilverCrest Mines Inc., Santa Fe Gold Corp., Rambler Metals and Mining plc, Brigus Gold Corp., Metanor Resources Inc. and Donner Metals Ltd.
For more information visit: .
Cautionary Note Regarding Forward-Looking Information
Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information is based on reasonable assumptions that have been made by Sandstorm as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Sandstorm to be materially different from those expressed or implied by the forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which Sandstorm will purchase gold and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; problems inherent to the marketability of minerals; industry conditions, including fluctuations in the price of metals, fluctuations in foreign exchange rates and fluctuations in interest rates; stock market volatility; competition; as well as those factors discussed in the section entitled "Risks to Sandstorm" in Sandstorm's annual report for the financial year ended December 31, 2011. Although Sandstorm has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Sandstorm does not undertake to update any forward-looking information that is contained or incorporated by reference herein, except in accordance with applicable securities laws. Sandstorm does not provide any representation as to its comparability with other companies in its industry including, but not limited to, Silver Wheaton Corp., Royal Gold, Inc., and Franco-Nevada Corporation.
Note 1: Sandstorm has included a non-IFRS performance measure in this press release being average cash cost per ounce. Average cash cost per ounce is calculated by dividing the Company's costs of sales by the number of ounces sold. The Company presents average cash cost per ounce as it believes that certain investors use this information to evaluate the Company's performance in comparison to other companies in the precious metals mining industry who present results on a similar basis.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Sandstorm Gold Ltd.
Erfan Kazemi
Chief Financial Officer
(604) 689-0234
Sandstorm Gold Ltd.
Denver Harris
Investor Relations Contact
(604) 628-1178
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Datum: 15.03.2012 - 23:02 Uhr
Sprache: Deutsch
News-ID 125452
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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