Core Insights - Sandstorm Gold Ltd. (SAND) is focused on enhancing value through its diversified stream and royalty portfolio, emphasizing quality assets and partnerships [1] Portfolio Updates - The Robertson mine, operated by Nevada Gold Mines (a joint venture of Barrick Gold Corp. and Newmont Corporation), received its final major federal permit on November 15, 2024, allowing it to proceed with production expected to start in 2027. Sandstorm Gold holds a net smelter returns royalty on this project [2][3] - Lundin Mining, operator of Brazil's Chapada mine, has optimized operations, reducing mining costs by 46% compared to 2022. Sandstorm Gold has a copper stream agreement with Lundin Mining for this mine [3] - SSR Mining Inc., operator of the Hod Maden project, is advancing the project with $10.9 million spent in Q3 2024. Sandstorm Gold has a 2.0% NSR royalty and a 20% gold stream on this project [4] - Entrée Resources Ltd. has begun underground development at Oyu Tolgoi Lift 1 Panel 1 in Mongolia, involving 212 meters of lateral development [5] - Entrée also reported positive drilling results at the Hugo North Extension, confirming high-grade intervals and mineralization continuity. Sandstorm holds a metals stream agreement with Entrée for this site [6] - Equinox Gold Corp. plans to resume mining at the Aurizona Piaba pit in Q4 2024 after a halt due to heavy rains. Sandstorm Gold has a sliding scale NSR royalty on this pit [7] - Serabi Gold plc updated its Preliminary Economic Assessment for the Coringa gold project, indicating improved production and mine life. Sandstorm Gold has a 2.5% net smelter returns royalty on this project [8] Financial Performance - In Q3 2024, Sandstorm Gold reported a 10% year-over-year revenue increase to $45 million, meeting the Zacks Consensus Estimate. The company achieved earnings per share of 2 cents, compared to break-even earnings in Q3 2023 [9] - Sandstorm Gold's shares have increased by 17.2% over the past year, while the industry has grown by 25.7% [10] Total Return Performance - Since December 4, 2023, Sandstorm Gold has shown a total return performance of 50.9%, compared to the Mining-Gold Market's growth of 25.7% [11]

Core Insights - Sandstorm Gold Ltd. is actively advancing its diversified stream and royalty portfolio, with significant developments reported across various projects [1] Group 1: Robertson Mine - The U.S. Bureau of Land Management approved a key environmental permit for the Robertson mine, owned by Nevada Gold Mines, which is expected to begin production in 2027 [2] - Sandstorm holds a 1.0%–2.25% sliding scale net smelter returns (NSR) royalty on the Robertson project, anticipating the upper end of the scale to apply at current gold prices [3] Group 2: Hod Maden Project - SSR Mining is progressing with engineering studies and site preparation at the Hod Maden project in Türkiye, with approximately $10.9 million spent in Q3 2024 [4] - Sandstorm has a 2.0% NSR royalty and a 20% gold stream on the Hod Maden project, agreeing to purchase 20% of gold produced at 50% of the spot price until 405,000 ounces are delivered [5] Group 3: Entrée Resources and Oyu Tolgoi - Entrée Resources commenced underground development at the Hugo North Extension, with ongoing discussions with Rio Tinto and Oyu Tolgoi LLC to finalize joint venture agreements [6] - Recent drilling results confirmed high-grade intervals, with significant copper grades reported, indicating potential for deeper mineralization [7][9][10] - Sandstorm has a copper and precious metal stream with Entrée, allowing it to purchase a percentage of produced metals at fixed cash payments [12] Group 4: Aurizona Mine - Equinox Gold plans to resume mining at the Aurizona Piaba pit in Q4 2024 after addressing geotechnical issues, with a revised mine plan in place [13] - Exploration activities in 2024 included over 6,500 metres of drilling, focusing on high-potential targets [14] - Expansion plans aim to extend the mine life beyond 10 years, with construction of an underground mine expected to begin in 2025 [15] - Sandstorm holds a sliding scale NSR royalty on the Aurizona mine, with a 5% NSR when gold prices exceed $2,000 per ounce [16] Group 5: Chapada Mine Optimization - Lundin Mining's optimization efforts at the Chapada mine have led to a 46% decrease in mining costs compared to 2022, improving cash flows [17] - A redesigned mining plan has reduced annual mining rates by 30 million tonnes, streamlining operations while maintaining output [18] - Sandstorm has a copper stream on the Chapada mine, with agreements for ongoing cash payments based on a percentage of copper produced [19] Group 6: Coringa Gold Project - Serabi Gold published an updated Preliminary Economic Assessment for the Coringa gold project, estimating annual production of 28,000 ounces in 2025 and averaging 36,000 ounces from 2026 to 2031 [20] - The updated PEA reflects a significant resource inventory, with a focus on utilizing a high percentage of the total resources [21] - Sandstorm holds a 2.5% NSR royalty on the Coringa project, enhancing its portfolio of royalty interests [21]

a brighter way to invest in Gold* 2024 Third Quarter Report SANDSTO GOLD ROYALTI NYSE SAND TSX SSL Management's Discussion and Analysis For The Period Ended September 30, 2024 This management's discussion and analysis ("MD&A") for Sandstorm Gold Ltd. and its subsidiary entities (collectively "Sandstorm", "Sandstorm Gold" or the "Company") should be read in conjunction with the unaudited condensed consolidated interim financial statements of Sandstorm for the three and nine months ended September 30, 2024 an ...

Shares of Sandstorm Gold (SAND) have gained 7.8% over the past four weeks to close the last trading session at $6.05, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $7.73 indicates a potential upside of 27.8%. The average comprises 11 short-term price targets ranging from a low of $6 to a high of $11.50, with a standard deviation of $1.48. While the lowest estimate indicates a ...

Group 1 - Sandstorm Gold Ltd. provides updates on drilling and exploration from its diversified portfolio of streaming and royalty assets [1] - Lundin Gold Inc. reports additional results from its near-mine drilling program, expanding the Bonza Sur gold deposit with a total of 56,000 metres planned for 2024 [2][3] - Bonterra Resources Inc. announces high-grade drill results from the Phoenix JV Moss Target, confirming mineralization similar to the high-grade Lynx Zone [6][7] Group 2 - Awalé Resources Limited reports high-grade intercepts from its ongoing drill program at the Odienné project, with significant results at both the BBM and Charger Zones [11][12] - Antipa Minerals Ltd. completes its Phase 1 drilling program at the Minyari Dome gold-copper project, revealing near-surface and high-grade gold mineralization [16][17] - Troilus Gold Corp. announces the discovery of a new gold zone, the West Rim Zone, as part of its ongoing drill program [21][22]

Core Viewpoint - Sandstorm Gold Ltd. is providing updates on key development projects within its diversified portfolio of streaming and royalty assets, highlighting significant milestones and production ramp-ups at various mines [1]. Group 1: Greenstone Gold Mine - Equinox Gold Corp. officially opened its 100% owned Greenstone mine in Ontario on August 29, 2024, marking it as a cornerstone asset and one of Canada's largest and lowest-cost gold producers [2][3]. - The Greenstone mine began construction in October 2021, poured its first gold in May 2024, and ramped up production, achieving approximately 2,625 ounces in May, 13,625 ounces in June, and 19,750 ounces in July [3]. - Sandstorm holds a gold stream on the Greenstone mine, allowing it to purchase 2.375% of gold produced until 120,333 ounces are delivered, then 1.583% thereafter, with ongoing payments equal to 20% of the spot price of gold plus up to US$30 per ounce in ESG contributions [4]. Group 2: Platreef Project - Ivanhoe Mines Ltd. reported the completion of the Phase 1 concentrator at its Platreef PGM mine in South Africa, which is now in cold commissioning and will be on care and maintenance until the second half of 2025 [5][6]. - Construction of Shaft 2, critical for the Phase 3 expansion, is progressing well, with headgear approximately 60% complete and sinking expected to commence in Q1 2025 [6]. - Sandstorm holds a gold stream on the Platreef project, allowing it to purchase 37.5% of payable gold produced until 131,250 ounces are delivered, then 30% until 256,980 ounces, and 1.875% thereafter, with ongoing cash payments of US$100 per ounce until 256,980 ounces are delivered [8]. Group 3: Woodlawn Project - Develop Global Limited secured a US$65 million prepayment/loan facility for its Woodlawn copper-zinc mine, increasing the project's net present value by 11% to A$728 million and forecasting a pre-tax free cash flow of A$1.1 billion over a 10-year mine plan [9]. - Sandstorm has a silver stream on the Woodlawn project, allowing it to receive silver equal to 80% of payable silver produced, up to a maximum value of A$27 million, and an additional stream for tailings ore processed [11]. Group 4: Bayan Khundii Project - Erdene Resource Development Corp. reported 30% construction completion at the Bayan Khundii gold project in Mongolia, with first gold production anticipated in mid-2025 [12]. - Exploration efforts in the Khundii Minerals District have identified new gold targets, with drilling underway to expand the resource base [13]. - Sandstorm holds a 1.0% net smelter returns royalty on the Bayan Khundii project [14]. Group 5: Côte d'Ivoire Assets - Allied Gold Corporation closed US$53 million in stream financing for its Côte d'Ivoire Complex, allocating US$16.5 million in 2024 to advance high-priority targets [15][17]. - Sandstorm amended its Bonikro gold stream to ensure minimum annual deliveries of 4,000–6,000 ounces from 2024 to 2026 [17].

Core Viewpoint - The article argues that while gold has historically been viewed as a safe investment, it has underperformed compared to equities over long periods, making companies like Sandstorm Gold Ltd. (SAND) a more attractive investment option due to their royalty streams and potential for growth [3][4][20]. Company Overview - Sandstorm Gold is a 'Gold Streamer' that finances mining companies in exchange for royalty contracts, allowing it to benefit from gold price increases and production growth [5][6]. - The company has a diverse portfolio of royalty contracts, which include a mix of Net Smelter Return (NSR) and fixed cost contracts [6]. Financial Performance - Sandstorm Gold faced challenges during the COVID-19 pandemic, which impacted earnings despite rising gold prices [7]. - The company made significant acquisitions in 2022, which strengthened its portfolio but also increased debt and diluted shares by 50% [8][9]. - Recent financial progress includes a focus on debt reduction and a robust cash flow from operations, despite some temporary setbacks in net income [10][11]. Growth Potential - Sandstorm Gold expects to double its gold production over the next five years as key assets transition from development to production [12]. - The company has a strong position in low-cost, high-production assets, which is expected to enhance its growth potential [13]. Valuation - Sandstorm Gold is considered undervalued compared to its peers, with potential upside of 30-40% based on multiple normalization [15][16]. - The combination of production growth and rising gold prices could lead to a potential upside of 50-60% over the next 24 months [16][17]. Conclusion - Overall, Sandstorm Gold is viewed as a compelling investment opportunity for those looking to add gold exposure to their portfolios, with anticipated growth and a recharged balance sheet expected to drive investor interest [20].

SANDSTORM GOLD ROYALTIES NYSE SAND TSX SSL | --- | --- | --- | --- | --- | --- | |--------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Investor | | | | | | | | | | | | | | Presentation | | | | | | | AUGUST 2024 | | | | | | a brighter way to Invest In Gold® CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION AND NON-IFRS MEASURES Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking ...

Financial Data and Key Metrics Changes - In Q2 2024, gold equivalent production totaled just over 17,400 attributable ounces, which was below expectations due to temporary issues at several mines [11][3] - The company recognized revenues of over $41 million during the second quarter, driven by stronger gold prices, with an average realized gold price of $2,313 per ounce [11][12] - Net income for the quarter was $10.5 million, a significant increase from $2.7 million in the same period in 2023, partly due to a fair value revaluation gain of approximately $7 million [13] Business Line Data and Key Metrics Changes - The Q2 production dip was attributed to lower performance at Aurizona, Cerro Moro, and Chapada, with Greenstone mine starting to ramp up production in Q3 [3][4] - Revenue comprised $25.8 million from streaming contracts and $15.5 million from royalty revenue, with cash flow from operating activities at $32.6 million [12][13] - The realized selling price of silver increased to approximately $28 per ounce compared to $25 in Q2 2023, while copper sales increased by 56% [15] Market Data and Key Metrics Changes - Over 80% of ounces sold came from operations in the Americas, with 17% from Canada, expected to increase as Greenstone ramps up [16] - The company continues to focus on precious metals, with nearly 70% of attributable production coming from this sector [17] Company Strategy and Development Direction - The company aims to reduce debt to $350 million by the end of the year, with a focus on debt repayment and share buybacks [6][7] - Future growth is anticipated from existing assets like Greenstone, Platreef, and Hod Maden, which are expected to nearly double production [8][9] - The company is not considering transactions that would require raising equity, focusing instead on maintaining a strong balance sheet [10] Management's Comments on Operating Environment and Future Outlook - Management described Q2 as an uncharacteristically weak quarter but expects a rebound in production as temporary issues are resolved [3][4] - The company anticipates stronger production in the near term as Greenstone continues to ramp up following its first gold pour [12] - The portfolio is expected to generate after-tax cash flows of close to a quarter billion dollars per year by 2029 [9] Other Important Information - The company bought back and canceled nearly 460,000 common shares for a total consideration of $2.5 million during Q2 [14] - The settlement of a debenture with Versamet Royalties resulted in a significant gain, highlighting the value of past investments [13][14] Q&A Session Summary Question: What is the company's expectation for debt reduction? - The company aims to reduce debt to below $350 million by year-end, with potential for further reductions if cash flow remains strong [25][27] Question: Are there any discussions about monetizing assets? - The company does not engage in discussions about buying back streams of royalties and maintains a firm stance against such transactions [26] Question: What are the long-term targets for debt beyond 2024? - The focus is on reducing debt as much as possible before pursuing acquisitions, aiming for a strong financial position [27][28] Question: What is the status of the Arizona mine? - The company expects production to improve in the second half of the year as mining activities resume [33] Question: Where is the Evolve transaction currently on the balance sheet? - The Evolve transaction is recorded in cash, with the second payment of $5 million pending [37]

VANCOUVER, BC, Aug. 1, 2024 /PRNewswire/ - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE: SAND) (TSX: SSL) has released its financial results for the second quarter ended June 30, 2024 (figures in U.S. dollars unless otherwise indicated). Financial Highlights $41.4 million of revenue compared to $49.8 million in Q2 2023; 17,414 attributable gold equivalent ounces1 compared to 24,504 ounces in Q2 2023; $32.6 million in cash flows from operating activities, excluding cha ...