Kim Bergen, Vice President of Capital Markets for Sandstorm Gold (TSX: SSL) (NYSE: SAND), joins me for a comprehensive introduction to this mid-tier precious metals royalty company; diversified across 250 royalties, 40 producing assets, exploration optionality, different jurisdictions, and a leading cost profile from producing royalty partners.
This is wide-ranging discussion that gets into the value proposition and key attributes of Sandstorm Gold within it’s peer group of royalty companies. We spend some time unpacking key transformative acquisition in 2022 of both Nomad Royalty Company and BaseCore Metals Royalty Package (from Glencore), and how that extended the average mine life length in the Company’s royalty portfolio, and brought in more senior operating partners and development-stage companies moving towards production in the next 2 years. Additionally, Kim unpacked the key Hod Madden royalty asset, and how the terms on the gold stream have changed over time, including the sale of the 30% interest in the project to Horizon Copper Corp.
We touch upon the exploration upside across the portfolio with an annual average of 650,000 meters drilled on projects held by royalty partners from 2013 to 2022, and around 340,000 meters of drilling completed in 2022 on producing properties alone. We also dig deeper into the different ways the company is diversified across operators, jurisdictions, and cost profiles.
Wrapping up Kim unpacks the backgrounds of some key members of the management team and board, the key stakeholders in Sandstorm Gold, the share structure, the initiative to pay down more debt and possibly buy back some shares due to the discount to Net Asset Value being seen in their valuation at present, and key catalysts for the next 12-24 months for investors to watch for.
If you have any questions for Kim regarding Sandstorm Gold, then please email me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Sandstorm Gold at the time of this recording.
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