Sandstorm Gold Ltd - SAND STOCK NEWS

On June 27, 2024, Sandstorm Gold Royalties announced its third quarterly cash dividend for 2024 of C$0.02 per common share. Shareholders of record as of July 16, 2024, will receive the dividend on July 26, 2024. This dividend qualifies as an 'eligible dividend' under the Income Tax Act (Canada). However, future dividends are subject to board discretion based on financial position and other factors. Non-resident investors will face Canadian withholding taxes. Sandstorm Gold Royalties is a precious metals-focused royalty company with a portfolio of approximately 230 royalties, including 41 producing mines.

Sandstorm Gold Royalties (NYSE: SAND, TSX: SSL) announced the results of its 2024 Annual General Meeting held on June 21 in Vancouver, BC.

At the meeting, 68% of issued common shares were represented, and shareholders voted in favor of all resolutions, including the re-election of eight directors: Nolan Watson, David Awram, David E. De Witt, Andrew T. Swarthout, John P.A. Budreski, Mary L. Little, Vera Kobalia, and Elif Levesque.

Notably, Nolan Watson received 99.33% of votes in favor, while Vera Kobalia received 97.85%.

The detailed voting results will be available on SEDAR+ and EDGAR.

Sandstorm Gold Royalties provided updates on its diversified royalty portfolio. Equinox Gold achieved its first gold pour at the Greenstone gold mine, forecasting an average annual production of 400,000 ounces of gold over the next five years. Develop Global reported a 37% rise in pre-tax NPV to A$658 million for its Woodlawn copper-zinc mine, alongside increased reserves and resources. Bonterra Resources announced promising initial drill results under its joint venture with Osisko Mining. Endeavour Mining shared progress on its exploration program at the Houndé gold mine, aiming to delineate new targets. Lundin Gold updated its Mineral Reserves at Fruta del Norte, showing significant increases. Sandstorm holds royalties on all these projects, expecting substantial returns from each.

Capella Minerals and JV partner Austral Gold have entered into a Share Purchase Agreement with Unico Silver to sell their 100% interest in Sierra Blanca S.A., which owns the Sierra Blanca gold-silver project in Argentina. Capella and Austral own 45.31% and 54.69% stakes, respectively. Unico will acquire the project for 5,000,000 ordinary shares. This transaction aligns with Capella's strategy to focus on Scandinavian assets and divest non-core assets in the Americas. The deal is subject to regulatory approvals from the ASX and TSXV exchanges and requires Unico to get shareholder approval. Part of the consideration will be transferred to Sandstorm Gold to settle outstanding maintenance payments.

Sandstorm Gold Royalties reported financial results for the first quarter of 2024. The revenue was $42.8 million, with 20,316 attributable gold equivalent ounces. The company focused on de-leveraging its balance sheet and made $20 million in net repayments. Additionally, they announced the sale of non-core assets for $21.0 million and the renewal of the Normal Course Issuer Bid. The outlook for 2024 forecasts between 75,000 and 90,000 attributable gold equivalent ounces.

Sandstorm Gold Royalties announced the sale of non-core, non-precious metals assets for $21.0 million and renewed its Normal Course Issuer Bid. The company sold over $50 million of assets since 2023, focusing on deleveraging and share repurchases. The sale includes royalties on copper, lithium, and nickel projects, with no further asset monetization planned. The company maintains its 2024 production guidance and aims for accelerated investment in higher-returning initiatives.