Vancouver, British Columbia | February 18, 2013
Sandstorm Gold Ltd. (“Sandstorm” or the “Company”) (NYSE MKT: SAND, TSX: SSL) is pleased to announce its results for the fourth quarter and year ended December 31, 2012 (all figures in U.S. dollars).
Fourth Quarter Highlights (3 Months)
• Gold sales totaled 7,243 ounces.
• Operating cash flow was $6.5 million.
• Average cash cost per ounce1 was $410 resulting in cash operating margins2 of $1,305 per ounce.
• Net income was $7.4 million.
• Entered into a gold streaming agreement with Munity Gold Inc. to purchase 15% of the life of mine gold produced from the Deflector Mine.
2012 Highlights (12 Months)
• Gold sales totaled 33,514 ounces, an increase of 81% over 2011.
• Record operating cash flow of $37.6 million.
• Average cash cost per ounce1 was $356 resulting in cash operating margins2 of $1,313.
• Net income of $21.9 million.
• Acquired a 2.5% net smelter returns (“NSR”) royalty on the Coringa gold project and a 1% NSR on the Cuiú Cuiú gold project from Magellan Minerals Ltd.
• Acquired a 2.4% NSR royalty on the Mt. Hamilton gold project from Solitario Exploration & Royalty Corp.
• Metanor Resources Inc. obtained approval for commercial production at the Bachelor Lake Mine.
• The Company’s common shares began trading on the NYSE MKT LLC under the symbol SAND.
• Completed an equity financing for aggregate gross proceeds of CAD$150.1 million.
• Entered into a gold stream agreement with Colossus Minerals Inc. to purchase 1.5% of the gold and 35% of the platinum produced from the Serra Pelada Mine.
“I am happy to report that we met our 2012 guidance and had a strong year in terms of gold production and cash flow,” said Sandstorm President and CEO Nolan Watson. “We added value for our shareholders by completing two gold streams and three gold royalty deals during the year and intend to continue to deploy our cash into accretive gold stream opportunities.”
Outlook
Sandstorm’s forecasted attributable production for 2013 is 33,000 to 40,000 gold equivalent ounces coming from seven active mines. Attributable production is expected to increase to approximately 70,000 gold equivalent ounces by 2016 from the Company’s current portfolio of gold streams.
The Company’s Management's Discussion and Analysis (MD&A) and Financial Statements for the fourth quarter and annual results will become accessible on the Company’s website and will be posted on SEDAR at www.sedar.com. The Company has also completed a Form 40F filing with the SEC which will be posted on EDGAR at http://www.sec.gov/edgar.shtml. Shareholders can request a hard copy of the MD&A and Financial Statements by emailing info@sandstormltd.com
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