Sandstorm Gold Recognizes Record Gold Sales in the Fourth Quarter
Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (TSX-V: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:
Sandstorm Gold is a gold royalty company based in Canada.
Its main asset in production is BLACK FOX in Canada, its main asset in development is AURIZONA in Brazil and its main exploration properties are ELSIAR (LCR) and BACHELOR LAKE / HEWFRAN in Canada.