Sandstorm Gold
Sandstorm Gold Ltd. (formerly Sandstorm Resources)[1] provides financing for precious metal mining companies in the form of a 'gold streaming deal' whereby an upfront cash payment is exchanged for a percentage of gold production from the mine.[2] The finance model has also been called a volumetric production payment transaction and originated in the oil and gas sector.[3]
History
Sandstorm Resources (now Sandstorm Gold)[1] was founded in 2008, when Nolan Watson and David Awram decided to create a metal streaming company that would be focused on gold acquisitions.[4] Both Watson and Awram were former employees of Silver Wheaton, the first organization to apply this financial model to the mining industry.[5] Sandstorm Gold is a publicly traded company, listed on the Toronto Venture Exchange under the symbol, SSL.[6]
Operations
Since the beginning of Sandstorm operations, the company has closed seven Gold Purchase Agreements.[7][8] The transactions were completed with the companies Luna Gold, Silvercrest Mines, Santa Fe Gold, Rambler Metals & Mining, Brigus Gold, Metanor Resources and Donner Metals.[9]
Sandstorm plans to complete three to four metal stream transactions per year with gold and precious metal mining companies.[10]
Management and directors
- Nolan Watson, President, CEO and Director
- David Awram, Executive Vice President and Director
- Erfan Kazemi, CFO
- Ron Ho, Vice President of Finance
- Andrew T. Swarthout, Director; President and Director of Bear Creek Mining
- John P. A. Budreski, Director; Vice Chairman of Cormark Securities
- David E. DeWitt, Director; Chairman of Pathway Capital Ltd.[11]
References
Articles
- Case, John (August 26, 2009). "A Metal Stream Company 100% Exposed to the Gold Price". Paradigm Capital Initiation Report.
- Curic, Anthona D. (March 11, 2010). "Precious Metals: Gold". Versant Partners - Sector Report.
- Korstrom, Glen (January 2–8, 2007). "2006 BiV Forty under 40 Winners - B.C.'s brightest young business stars totally exposed". Business In Vancouver. http://www.biv.com/40under40/2006.asp.
- McRae, Michelle (January 2003). "The 2002 UFE Medallists". Beyond Numbers. http://www.ica.bc.ca/kb.php3?pageid=1909.
- McRae, Michelle (June 2009). "Early Achievement Award Winners". Beyond Numbers. http://www.ica.bc.ca/kb.php3?pageid=4437.
- Moritsugu, John (April 14, 2010). "Sandstorm Targets More Than Precious Metals". Dow Jones News Service.
- O'Keefe, Matthew (April 1, 2010). "Full Stream Ahead". Cormark Securities Inc..
- Roulston, Lawrence (December 2009). "Year End Quarterly Review". Lawrence Roulston's Resource Opportunities.
- West, James (June 25, 2009). "Sandstorm Resources and the Gold Royalty Model". Midas Letter. http://www.midasletter.com/news/09062506_Sandstorm-resources-and-the-gold-royalty-model.php.
- Nagle, Shane (February 24, 2011). "Taking The Royalty Space By Storm". National Bank Financial Equity Research..
External links