Sandstorm Gold Ltd (SAND) Reports Q1 Revenues Beat

May 7, 2020 5:27 PM EDT

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Sandstorm Gold Ltd (NYSE: SAND) reported Q1 revenue for the quarter came in at $21.3 million versus the consensus estimate of $16 million.

First Quarter Highlights

  • Attributable gold equivalent ounces sold1 of 13,393 ounces (Q1 2019 — 14,071 ounces);
  • Revenue of $21.3 million (Q1 2019 — $18.2 million);
  • Cash flows from operating activities, excluding changes in non-cash working capital1 of $14.4 million (Q1 2019 — $12.8 million);
  • Average cash cost per attributable gold equivalent ounce1 of $314 resulting in cash operating margins1 of $1,279 per ounce (Q1 2019: $241 per ounce and $1,050 per ounce respectively);
  • Net loss of $10.3 million (Q1 2019 - net income of $2.5 million);
  • Normal Course Issuer Bid: Under Sandstorm’s normal course issuer bid, the Company purchased and cancelled approximately 4.6 million shares during the first quarter of 2020 for total consideration of $23.5 million;
  • Early Warrant Exercise Incentive Program: In April 2020, the Company completed the early warrant exercise incentive program whereby 15 million outstanding and unlisted share purchase warrants were exercised at a price of $3.35 per warrant, providing proceeds of $50.25 million.

Outlook

Due to the unknown long-term effects of the current global health pandemic, Sandstorm withdrew the Company’s 2020 production guidance. Based on the Company’s existing royalties, attributable gold equivalent ounces sold are forecasted to be approximately 125,000 ounces in 2024.

For earnings history and earnings-related data on Sandstorm Gold Ltd (SAND) click here.



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