CAPITAL MARKETS

Uplifted Sandstorm to uplist

Royalty company Sandstorm Gold is set to transfer this month from the NYSE American to the New York Stock Exchange.

Staff reporter
 Sandstorm Gold will transfer its US listing to the New York Stock Exchange

Sandstorm Gold will transfer its US listing to the New York Stock Exchange

The company announced the shift along with record annual results for 2019, which included record attributable gold-equivalent ounces sold of 63,829oz, up 11% from 2018's 57,646oz.

It also reported record revenue of US$89.4 million, up 22% from $73.2 million the previous year.

Sandstorm had flagged the possibility of record full-year results in October as its third quarter figures overshadowed June's record quarter.

The company said operations in South America contributed 130% more gold-equivalent ounces than in the fourth quarter of 2018, primarily due to the addition of gold-equivalent ounces from Yamana Gold's Cerro Moro mine in Argentina, royalty revenue from Equinox Gold's Aurizona mine in Brazil, and royalty revenue from Lundin Gold's newly-started Fruta del Norte mine in Ecuador.

Based on existing royalties, Sandstorm has forecast attributable gold-equivalent ounces sold for 2020 between 60,000-70,000oz.

It has forecast attributable gold-equivalent production of 125,000oz in 2024.

Sandstorm said it expected its US-listed shares to begin trading on the NYSE on February 21 under same ticker, SAND.

It said it had received approval to transfer the listing of its common shares and would voluntarily delist from the NYSE American.

It will continue its TSX listing.

Sandstorm's NYSE American-listed shares last traded at US$7.13, near the top of a 52-week range of $4.97-$7.68.

It is capitalised at $1.27 billion.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.