Sandstorm Gold sells Hod Maden stake for $200M project gold stream (NYSE:SAND)

Sandstorm Gold sells Hod Maden stake for $200M project gold stream (NYSE:SAND)

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Sandstorm Gold (NYSE:SAND) agrees to sell certain non-royalty and non-stream assets including its 30% stake in the Hod Maden project in Turkey to Royalty North Partners in exchange for a $200M gold stream on the project together with equity and debt consideration.

Sandstorm says the deal represents “the first step in repositioning itself as a pure-play precious metals streaming and royalty company, while still retaining long-term exposure to the robust economics and potential growth of Hod Maden.”

Separately, the company reported Q4 revenues of $29.8M, flat Y/Y, as production rose 5% to 16,586 gold equiv. oz.

Sandstorm shares rose 4.2% in Thursday’s trading, as gold miners provided a pocket of resistance against broader market losses as gold futures pushed above $1,900/oz.

Originally Posted on: https://seekingalpha.com/news/3801770-sandstorm-gold-sells-hod-maden-stake-for-200m-project-gold-stream?source=feed_tag_commodities
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