Boston, MA 03/14/2014 (wallstreetpr) – Sandstorm Gold Ltd (NYSEMKT:SAND) has been surging in the market after reporting impressive record gold sales for its fourth quarter. Yesterday’s trading session saw the company’s stock move up by 10.28% with the rise coming in on solid volume of transacted shares. The company’s stock is currently trading above the volatile price range of $5.20 and $5.86
Sandstorm Gold Chief executive officer was quick to point out that the company experienced challenging gold price market, with streaming partners demonstrating economic strength throughout their mining operations.
Fourth quarter financials
Sandstorm Gold Ltd (NYSEMKT:SAND)’s fourth quarter gold sales came in at a record high of 10,523 ounces excluding premier royalty incs ounces. This resulted in record revenues of $15.8 million for the quarter at an average cash cost per ounce of $407.
Sandstorm Gold cash operating margins stood at $863 per ounce. The company’s operating cash flow for the quarter came in at $8.1 million with a net loss of $39.9 million mainly as a result of a non-cash impairment charge of $52.2 million that related to the Serra Pelada Gold stream.
Full year highlights
Sandstorm Gold’s record gold sales for the year came in at 36,146 ounces that also excluded premier royalty attributable ounces. Record revenue for the year came in at $59.8 million at the back of cash flow of about $32.2 million. Sandstorm Gold was also able to complete a 1% net smelter returns royalty.
Sandstorm Gold Ltd (NYSEMKT:SAND)’s average cash cost per ounce stood at $420, which resulted in cash operating margins of $981. Net loss for the year came in at $74.6 million. The year also saw the company acquiring its outstanding common shares of premier royalty; Sandstorm Gold was also able to complete a $10 million loan to Luna gold in accordance with its commitment to issue non revolving loan facility to Luna.
Sandstorm Gold Ltd (NYSEMKT:SAND)’s stock was up on Thursday trading session by 10.28%, closing the day at a high of $6.76
