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SAND Buyback image

Sandstorm Gold Ltd. Buyback

OLI recorded this information on 4/5/2023

Company: Sandstorm Gold Ltd.
Buyback: SAND buyback
Share Amount Authorized: 18,900,000
Buyback Details: Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm", or the "Company") (NYSE: SAND) (TSX: SSL) is pleased to report that the Company sold approximately 28,400 attributable gold equivalent ounces1 and realized preliminary revenue2 of $44.0 million during the three months ended March 31, 2023, both representing a record for the Company (18,741 attributable gold equivalent ounces and $35.4 million in revenue for the comparable period in 2022). The Company's normal course issuer bid ("NCIB") is being renewed after the existing NCIB expires on April 6, 2023. The current NCIB provides Sandstorm with the option to purchase up to 18.9 million of the Company's common shares ("Common Shares") from time to time when Sandstorm's management believes that the Common Shares are undervalued by the market. Under the renewed NCIB, Sandstorm may purchase up to 24.0 million of its Common Shares, representing approximately 8% of the Company's issued and outstanding Common Shares. As of March 31, 2023, the Company had 298,740,427 Common Shares issued and outstanding, 247,355,113 of which made up the "Public Float" (within the meaning of the rules of the Toronto Stock Exchange) and the 24.0 million Common Shares purchasable under the NCIB represents approximately 9.7% of the Company's Public Float. The new NCIB also provides Sandstorm with the option to purchase its Common Shares from time to time when Sandstorm's management believes that the Common Shares are undervalued by the market. The Toronto Stock Exchange ("TSX") has accepted the Company's notice that it intends to proceed with a NCIB in accordance with TSX rules. Purchases under the renewed NCIB may commence on April 11, 2023, and will terminate on the earlier of April 10, 2024, the date that Sandstorm completes its purchases pursuant to the NCIB as filed with the TSX, or the date of notice by Sandstorm of termination of the NCIB.

Sandstorm Gold is engaged as a resource-based company that seeks to acquire gold and other metals purchase agreements ("Gold Streams" or "Streams") and royalties from companies that have advanced stage development projects or operating mines. In return for making an upfront payment to acquire a Stream or royalty, Co. receives the right to purchase, at a fixed price per unit or at a fixed percentage of the spot price, a percentage of a mine's production for the life of the mine (in the case of a Stream) or a portion of the revenue generated from the mine (in the case of a royalty).
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SAND — Key Stats (updated 6 hours, 37 minutes ago)
Company Name:  Sandstorm Gold Ltd
Stock buyback:  SAND buyback
Website:  www.sandstormgold.com
Sector:  Precious Metals
Number of ETFs Holding SAND:  9
Total Market Value Held by ETFs:  $112.97M
Total Market Capitalization:  $959.00M
% of Market Cap. Held by ETFs:  11.78%
 

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April 19, 2024  •  5:22 PM Eastern
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Strong Buy (3.55 out of 4)
100th percentile
(ranked higher than approx. 100% of all stocks covered)

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