Jim Cramer of Mad Money, someone who is bullish on gold but has bashed the gold miners relentlessy over the years and praises the GLD, gave HIGH praise to my favorite stock today - Sandstorm Gold (SAND)!
Some Notes from Cramer:
Likes gold going forward: "Printing money means more upside for gold..."
Likes Sandstorm - "new spec way to play gold rally. Bullion then GLD(no miners) lists all the problems of miners..." then recommends SAND.
" it's sandstorm gold symbol sand. speculative canadian mine financing business. think of sandstorm as beinging a financer for gold miners. we're in an environment where mierns have a lot of trouble getting financing. lenders aren't lending them money. they need more capital. take advantage of this high gold price. that's where sandstorm comes in they will give a gold miner immediate money up front in exchange for the percentage of the future gold produced.
stock that blew my mind when they came on the show, franco nevada..." From CNBC.com.
"What if there was a company that gave you the benefits of a higher gold price but none of the headaches?"
Yup, he's a little late to the Sandstorm party here as we're hitting new highs, but I do believe there is still much upside to the SAND price. I've been long since 2010 and have no intention of selling.
Welcome aboard, Cramer!
Watch the video here! - http://video.cnbc.com/gallery/?video=3000118980&play=1