Thursday, May 3, 2012

Sandstorm Gold Releases Great 1Q Results

Another great quarter for this gold streaming company. I've been in since .65 cents and have no intentions of selling anytime soon!

Sandstorm Gold Recognizes Record Gold Sales and Operating Cash Flow of US$9.3 Million

 Vancouver, British Columbia, May 3, 2012 - Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (TSX-V:SSL) is pleased to announce its unaudited results for the first quarter ended March 31, 2012 (all figures in U.S. dollars).

First Quarter Highlights
  • Record operating cash flow of $9.3 million.
  • Record gold sales of 7,946 ounces.
  • Average cash cost per ounce1 of $314 resulting in cash operating margins of $1,380 per ounce.
  • Sandstorm entered into a revolving credit agreement to borrow up to $50 million, which remains undrawn.
"The first quarter proved to be another record quarter in terms of gold sales and cash flow," said President & CEO Nolan Watson. "As our cash balance continues to grow, we are better positioned to complete additional gold streams..."

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