Sandstorm Gold reports record sales and revenue for 2023 By Investing.com
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VANCOUVER – Sandstorm Gold Ltd. (NYSE: NYSE:) (TSX: SSL), a precious metals royalty company, has announced record sales and revenue for the fourth quarter and the full year ended December 31, 2023. The company sold approximately 97,200 attributable gold equivalent ounces and realized preliminary revenue of $179.6 million over the full year, marking a significant increase from the 82,376 ounces sold and $148.7 million in revenue during the same period in 2022.
For the fourth quarter, Sandstorm Gold sold around 23,300 attributable gold equivalent ounces, with preliminary revenue reaching $44.5 million. This compares to 21,753 ounces sold and $38.4 million in revenue in the comparable quarter of the previous year. Total sales, royalties, and income from other interests for the full year 2023 reached a preliminary $191.5 million, up from $148.7 million in 2022.
The company’s preliminary cost of sales, excluding depletion, was reported at $21.7 million for the full year, resulting in cash operating margins of approximately $1,706 per attributable gold equivalent ounce. This is an improvement from the $23.4 million cost of sales and $1,511 per ounce margin in 2022. For the fourth quarter alone, the cost of sales was $4.9 million, with margins rising to $1,737 per ounce from $1,493 in the prior year’s quarter.
Sandstorm Gold Royalties finances mining companies in exchange for a percentage of production from their mines and holds a portfolio of approximately 250 royalties. The company’s strategy involves growing and diversifying its low-cost production profile through the acquisition of additional gold royalties.
The information provided in this news article is based on a press release statement from Sandstorm Gold Ltd.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters.
VANCOUVER – Sandstorm Gold Ltd. (NYSE: NYSE:) (TSX: SSL), a precious metals royalty company, has announced record sales and revenue for the fourth quarter and the full year ended December 31, 2023. The company sold approximately 97,200 attributable gold equivalent ounces and realized preliminary revenue of $179.6 million over the full year, marking a significant increase from the 82,376 ounces sold and $148.7 million in revenue during the same period in 2022.
For the fourth quarter, Sandstorm Gold sold around 23,300 attributable gold equivalent ounces, with preliminary revenue reaching $44.5 million. This compares to 21,753 ounces sold and $38.4 million in revenue in the comparable quarter of the previous year. Total sales, royalties, and income from other interests for the full year 2023 reached a preliminary $191.5 million, up from $148.7 million in 2022.
The company’s preliminary cost of sales, excluding depletion, was reported at $21.7 million for the full year, resulting in cash operating margins of approximately $1,706 per attributable gold equivalent ounce. This is an improvement from the $23.4 million cost of sales and $1,511 per ounce margin in 2022. For the fourth quarter alone, the cost of sales was $4.9 million, with margins rising to $1,737 per ounce from $1,493 in the prior year’s quarter.
Sandstorm Gold Royalties finances mining companies in exchange for a percentage of production from their mines and holds a portfolio of approximately 250 royalties. The company’s strategy involves growing and diversifying its low-cost production profile through the acquisition of additional gold royalties.
The information provided in this news article is based on a press release statement from Sandstorm Gold Ltd.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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