Sandstorm Gold has net loss, record sales

MetalMiner

Sandstorm Gold Ltd. has “reported a net loss of $74.6 million in 2013 but hit record gold sales on 36,146 ounces, excluding Premier Royalty’s attributable ounces and record revenue of $59.8 million. The company absorbed a $52.2 million impairment charge on its Colossus Minerals Serra Pelada gold stream, bringing a net loss of $39.9 million in the fourth quarter of 2013,” reports Kitco.

“Amidst a challenging gold price environment in 2013, our streaming partners demonstrated the economic strength of their mining operations as the average all-in cost of the mines underlying our four key streams was close to $1,000 per ounce by the end of the year,’ says Nolan Watson, president and chief executive officer of Sandstorm. ‘Our focus is building shareholder value by growing and diversifying our production base and cash flow through the acquisition of streams and royalties.”

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