Core Insights - The author has over 10 years of experience researching companies across various sectors, including commodities and technology, which provides valuable insights for readers [1] - The focus has shifted from writing a blog to creating a value investing-focused YouTube channel, where extensive research on hundreds of companies has been conducted [1] - The author expresses a particular interest in metals and mining stocks, while also being knowledgeable in other industries such as consumer discretionary, REITs, and utilities [1]

Group 1: Sandstorm Gold Ltd. Developments - Sandstorm Gold Ltd. is pleased to announce various developments and exploration highlights within its diversified stream and royalty portfolio [1] - The company holds a gold stream on the Santa Elena mine, allowing it to purchase 20% of the gold produced at Santa Elena for ongoing cash payments of $487 per ounce of gold [5] Group 2: First Majestic Silver Corp. Discoveries - First Majestic Silver Corp. has identified a significant gold-silver discovery on its Santa Elena property, specifically the Santo Niño vein, which has been traced over one kilometre along strike and 400 metres down-dip [2] - Exploration results from 14 drill intercepts at Santo Niño have returned significant gold and silver grades, with notable results including hole SE-25-15 intersecting 1.91 metres grading 8.38 g/t gold and 248 g/t silver [3] - The Santo Niño discovery complements ongoing success at the Navidad deposit, reinforcing Santa Elena's status as a prolific, district-scale system with substantial upside [4] Group 3: Lundin Gold Ltd. Drilling Program - Lundin Gold Ltd. has expanded its 2025 drilling program at the Fruta del Norte mine to at least 108,000 metres, marking the largest annual drill program ever completed on the land package [6] - High-grade intercepts from the conversion program at FDN South have confirmed the deposit's continuity and identified additional mineralized zones [7] - Sandstorm holds a 0.9% net smelter returns royalty on the precious metals produced at Fruta del Norte [11] Group 4: Entrée Resources Ltd. Drilling Results - Entrée Resources Ltd. has released additional analytical results from drilling on the Hugo North Extension at the Oyu Tolgoi mine, with highlights including a surface hole grading 2.30% copper and 1.45 g/t gold [12][13] - Sandstorm has a copper and precious metal stream with Entrée, allowing it to purchase 0.33% of the copper and 4.47% of the gold and silver produced at the HNE [15] Group 5: Awalé Resources Ltd. Drilling Campaign - Awalé Resources Ltd. is executing an 18,000-metre drill campaign at the Odienné project, with results confirming a broad gold-copper system extending over 1 kilometre of strike at the BBM Zone [19][20] - Sandstorm holds a 2.0% NSR royalty on the Odienné project [23] Group 6: Omai Gold Mines Corp. Drilling Results - Omai Gold Mines Corp. has completed 15,639 metres of drilling in 2025, surpassing the planned 15,000 metres, with results extending the known limits of gold mineralization at Wenot [24] - Sandstorm holds a 1.0% NSR royalty on the Omai gold mine [30] Group 7: Troilus Gold Corp. Drill Campaign - Troilus Gold Corp. released results from its 2025 drill campaign focused on identifying higher-grade mineralization within the Troilus project [31] - Sandstorm holds a 1.0% NSR royalty on the Troilus project [32]

Core Points - Sandstorm Gold Ltd. held its Annual General and Special Meeting of Shareholders on May 30, 2025, with 70% of issued common shares represented [1] - Shareholders voted in favor of all resolutions, including the re-election of all director nominees [1] Election of Directors - Nolan Watson received 174,714,604 votes (99.26% for) and 1,297,328 votes withheld (0.74% withheld) [2] - David Awram received 173,247,072 votes (98.43% for) and 2,764,861 votes withheld (1.57% withheld) [2] - David E. De Witt received 168,801,580 votes (95.90% for) and 7,210,352 votes withheld (4.10% withheld) [2] - Andrew T. Swarthout received 168,949,013 votes (95.99% for) and 7,062,919 votes withheld (4.01% withheld) [2] - John P.A. Budreski received 154,624,590 votes (87.85% for) and 21,387,342 votes withheld (12.15% withheld) [2] - Mary L. Little received 139,978,560 votes (79.53% for) and 36,033,373 votes withheld (20.47% withheld) [2] - Vera Kobalia received 172,613,405 votes (98.07% for) and 3,398,528 votes withheld (1.93% withheld) [2] - Elif Levesque received 145,709,384 votes (82.78% for) and 30,302,549 votes withheld (17.22% withheld) [2] Company Overview - Sandstorm Gold is a precious metals-focused royalty company that provides upfront financing to mining companies and receives a percentage of production from mines for their lifespan [4] - The company holds a portfolio of approximately 230 royalties, with 40 of the underlying mines currently producing [4] - Sandstorm aims to grow and diversify its low-cost production profile through the acquisition of additional gold royalties [4]

Core Viewpoint - Sandstorm Gold Ltd. has received updated voting recommendations from Institutional Shareholder Services Inc. (ISS) to support all management proposals regarding amendments to the company's share-based compensation program, which will be voted on at the upcoming Annual General and Special Meeting of Shareholders on May 30, 2025 [1]. Group 1 - ISS now recommends shareholders vote FOR all management proposals, including those it previously advised against [1]. - Glass, Lewis & Co. LLC has also recommended that shareholders vote FOR the management proposals related to the share-based compensation program [1]. - The proposals are detailed in the Company's Management Information Circular dated April 9, 2025 [1]. Group 2 - Sandstorm Gold is a precious metals-focused royalty company that provides upfront financing to mining companies and receives a percentage of production from mines for their operational life [3]. - The company holds a portfolio of approximately 230 royalties, with 40 of the underlying mines currently in production [3]. - Sandstorm aims to grow and diversify its low-cost production profile through the acquisition of additional gold royalties [3].

Core Viewpoint - Sandstorm Gold Ltd. is addressing voting recommendations from Institutional Shareholder Services Inc. (ISS) that miscalculated parameters related to proposed amendments to the Company's share-based compensation program, aiming to clarify and ensure accurate interpretation of these changes [1][2]. Summary by Sections Shareholder Proposals - ISS has recommended voting against three management proposals concerning the Company's Stock Option Plan and Restricted Share Plan, which were intended to align executive compensation with shareholder interests [2]. - The Company believes ISS's recommendations stem from a semantic misinterpretation of the proposed maximum limit of shares under the Share Plans [2]. Clarifying Amendments - The Clarifying Amendments state that, effective January 1, 2025, the total number of common shares issuable under the Share Plans will not exceed 6.0% of the total issued and outstanding shares [3]. - The previous proposal included a declining rate from 6.0% in 2025 to 5.5% in 2026 and 5.0% in 2027, which was misinterpreted as a cumulative limit rather than a non-cumulative declining rate [3]. Approval and Recommendations - The Toronto Stock Exchange and the Company's Board of Directors have conditionally approved the Clarifying Amendments, which are considered housekeeping in nature, thus not requiring shareholder approval at the upcoming Meeting [4]. - The Company advises shareholders to refer to the revised Share Plans filed on SEDAR+ for all matters related to the Share Plans and to disregard the versions in the Information Circular [4]. Additional Information - Shareholders can access the Information Circular and amended Share Plans through SEDAR+ or by contacting Investor Relations [5]. - Sandstorm Gold Royalties is a precious metals-focused royalty company with a portfolio of approximately 230 royalties, aiming to grow its low-cost production profile through additional acquisitions [7].

Core Viewpoint - Sandstorm Gold Ltd. reported strong financial results for Q1 2025, driven by high commodity prices, with record revenues and net income, alongside ongoing share buybacks and deleveraging efforts [2][7][12]. Financial Highlights - Record revenue of $50.1 million, up from $42.8 million in Q1 2024 [7][12]. - Production of 18,492 attributable gold equivalent ounces, down from 20,316 ounces in the same period last year [7][12]. - Cash flows from operating activities of $40.8 million, compared to $32.6 million in Q1 2024 [7][15]. - Net income of $11.3 million, a significant improvement from a net loss of $3.9 million in Q1 2024 [7][15]. Shareholder Returns - The company repurchased approximately 3.1 million common shares for $19.1 million during Q1 2025, with an additional 270,000 shares purchased for $2.0 million post-quarter [2][3]. - Sandstorm renewed its normal course issuer bid (NCIB) allowing for the purchase of up to 20 million common shares, indicating a strategic focus on share repurchases [3]. Deleveraging Efforts - The company made $15 million in net debt repayments during the quarter, with an additional $12 million repaid after the quarter ended [4]. - As of May 6, 2025, Sandstorm has an outstanding balance of $328 million on its revolving credit facility, with an undrawn balance of $297 million [4]. Production and Revenue Breakdown - Approximately 73% of gold equivalent production was from precious metals, 20% from copper, and 7% from other commodities [12]. - Revenue from precious metals was $34.8 million, copper revenue was $11.3 million, and other commodities contributed $4.0 million [13]. Project Developments - The Hod Maden joint venture is advancing with approved early-works capital investments of $60–$100 million for 2025 [5]. - Glencore is expected to submit an application for the MARA copper-gold project under Argentina's RIGI, which aims to support large investments [6][8]. Production Outlook - Attributable gold equivalent ounces are forecasted to be between 65,000 and 80,000 ounces in 2025, with long-term production expected to reach approximately 150,000 ounces by 2030 [11].

Core Viewpoint - Smart Sand, Inc. is set to release its first quarter 2025 financial results on May 13, 2025, after market close, inviting investors to access related documents on its website [1] Company Overview - Smart Sand is a fully integrated frac and industrial sand supply and services company, providing complete solutions from mine to wellsite for frac sand customers and a wide range of products for industrial sand customers [2] - The company produces low-cost, high-quality Northern White sand, which is utilized as a proppant to enhance hydrocarbon recovery rates in hydraulic fracturing of oil and natural gas wells [2] - Smart Sand's products are also used in various industrial applications, including glass, foundry, building products, filtration, geothermal, renewables, ceramics, turf & landscaping, retail, and recreation [2] - The company offers logistics solutions through in-basin transloading terminals and SmartSystems™ for wellsite storage and sand management [2] - Smart Sand owns and operates premium sand mines and processing facilities in Wisconsin and Illinois, with access to four Class I rail lines for product delivery across the United States and Canada [2]

Industry Overview - The Zacks Mining – Gold industry is part of the broader Zacks Basic Materials sector, which is expected to see a significant decline in earnings for Q1, projected to fall by 17.8% with a 0.7% decrease in revenues [1] - Gold prices have surged approximately 27% year-to-date, driven by global trade tensions and increased safe-haven demand [3] - Gold reached a record high of $3,500 per ounce on April 22, with a nearly 19% increase in the first quarter [4] Company Performance - Gold mining companies are anticipated to benefit from higher gold prices and improved operational efficiency, despite facing inflationary pressures on input costs [2][5] - Kinross Gold Corporation (KGC) is expected to report earnings of 22 cents, with an Earnings ESP of +11.07% and a Zacks Rank 2, having surpassed estimates in three of the last four quarters [8][9] - Sandstorm Gold Ltd. (SAND) is projected to report earnings of 5 cents, with an Earnings ESP of +6.67% and a Zacks Rank 2, although it has missed estimates in three of the last four quarters [11][12] - IAMGOLD Corporation (IAG) is expected to report earnings of 10 cents, with an Earnings ESP of +9.69% and a Zacks Rank 3, having beaten estimates in three of the last four quarters [13][14] Strategic Actions - Gold miners are focusing on reducing operational costs, improving efficiency, and concentrating on high-grade assets to support margins amid rising costs [5] - Companies are also working on paying down debt and eliminating non-core assets to enhance financial stability [5]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Sandstorm Gold (SAND) - Sandstorm Gold has a Momentum Style Score of B, indicating a favorable momentum characteristic [2] - The company currently holds a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - Over the past week, SAND shares increased by 7.06%, outperforming the Zacks Mining - Gold industry, which rose by 2.54% [5] - In a longer timeframe, SAND's monthly price change is 11.49%, compared to the industry's 4.57% [5] - Over the last quarter, SAND shares have surged by 44.27%, and over the past year, they have gained 49.91%, while the S&P 500 has seen declines of -9.16% and gains of 10.9%, respectively [6] Trading Volume - The average 20-day trading volume for SAND is 5,839,667 shares, indicating a bullish sign as the stock is rising with above-average volume [7] Earnings Outlook - In the past two months, 2 earnings estimates for SAND have been revised upwards, while 1 has been revised downwards, leading to an increase in the consensus estimate from $0.17 to $0.18 [9] - For the next fiscal year, 3 estimates have moved upwards with no downward revisions during the same period [9] Conclusion - Considering the positive momentum indicators and earnings outlook, SAND is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for near-term investment [11]

I work on the buy-side in Fixed Income. In my spare time, I'm out here seeking alpha. When it comes to my investment outlook...I'm here to remind you to "Always Protect Your Nuts!" I have a special interest in the Mining and Real Estate sectors.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in SAND over the nex ...