PRECIOUS METALS

Sandstorm raises $80 mil for more acquisitions

Canada-based Sandstorm Gold Royalties is raising US$80 million through a bought deal financing deal with BMO Capital Markets which it intends to use towards future streams and royalty acquisitions and repayments of drawn downs on its revolving credit facility.

 Sandstorm assets

Sandstorm assets

As lead underwriters, BMO have agreed to buy 15.7 million shares in Sandstorm for $5.10 per share.

Sandstorm's share price fell 9% day on day to $5.05 on 28 September. A week earlier, the stock closed the trading session at $6.18.

The underwriters have also been granted the option, exercisable at the offering price from for a period of 30 days following closing, to purchase an additional 15% to cover over-allotments, if any.

Sandstorm currently has a portfolio of 250 royalties.

The company expects attributable production of 80,000-85,000 gold equivalent ounces this year. It hopes to increase that to 155,000 GEOs by 2025.

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.