Production Under Construction
Production Under Construction
Over 60% Growth Already Built-in
Sandstorm is one of the fastest-growing precious metal royalty companies in the world. Over the next few years, the company’s gold equivalent production is expected to grow by over 60%—growth that has already been bought and paid for. Our partners are well underway building key mines that will usher in a robust and sustainable production profile with expected cash flows of over $200 million per year1.
1. Based on expected cash flows from operating activities attributable to the Company’s operating segment excluding changes in working capital, cash from Horizon Copper Debentures, and the exercise of the Company’s MARA Stream Option. Refer to Cautionary Note Regarding Forward-Looking Statements.
Over 60% Growth Already Built-in
Sandstorm is one of the fastest-growing precious metal royalty companies in the world. Over the next few years, the company’s gold equivalent production is expected to grow by over 60%—growth that has already been bought and paid for. Our partners are well underway building key mines that will usher in a robust and sustainable production profile with expected cash flows of over $200 million per year1.
1. Based on expected cash flows from operating activities attributable to the Company’s operating segment excluding changes in working capital, cash from Horizon Copper Debentures, and the exercise of the Company’s MARA Stream Option. Refer to Cautionary Note Regarding Forward-Looking Statements.
Estimated Gold Equivalent Production
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Glencore
MARA Copper Project
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Ivanhoe Mines
Platreef PGM-Nickel Mine
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Equinox Gold
Greenstone Gold Mine
The Mines that Make Us
Discover more about the mines that will contribute to Sandstorm’s growth below.
Greenstone
Equinox Gold
2024
First Production
Commerical Production
Achieved
$10–$15 million
Expected Average Annual Cash Flows to Sandstorm
330,000 ounces
Average Annual Gold Production (Life of Mine on 100% basis)1
Average Annual Cash flows are post-tax, based on commodity price assumptions of $1,800/oz Au, $23/oz Ag, $3.90/lb Cu. Project completion as at November 2023. See www.equinoxgold.com for more information.
1. Based on 2024 Technical Report on Greenstone Gold Mine, effective June 30, 2024
The Greenstone gold project is located approximately 275 km northeast of the city of Thunder Bay and 4 km south of the town of Geraldton, ON and is owned and operated by Equinox Gold Corp. This producing stage project is centered on the historic Hardrock Gold Mine and consolidates four historic underground gold mines into one giant open pit mine development. The Greenstone mine completed its inaugural gold pour in May 2024, with commercial production targeted for the third quarter of 2024.
Platreef
Ivanhoe Mines
2025
Phase 1 Production
80%
Complete (Phase 1)
$5–$20 million
Expected Average Annual Cash Flows to Sandstorm (Phase 1 & 2)
2,500–10,000 ounces
Average Annual Gold Deliveries to Sandstorm (Phase 1 & 2)
Average Annual Cash flows are post-tax, based on commodity price assumptions of $1,800/oz Au, $23/oz Ag, $3.90/lb Cu. Average cash flow and gold deliveries include Phase 2 expansion. Project completion as at November 2023. See www.ivanhoemines.com for more information.
The Platreef Project is located in northeast South Africa, within the Bushveld Igneous Complex’s northern limb, the world’s largest source of platinum group metals (PGM). Platreef is a development-stage project which contains a large new discovery of PGM, nickel, copper and gold.
Hod Maden
SSR Mining
2028
Estimated Production
Early Works Construction
$25–$30 million
Expected Average Annual Stream and Royalty Cash Flows
195,000 ounces
Average Annual Gold Equivalent Production (100% basis)
Average Annual cash flows are post-tax, based on commodity price assumptions of $1,800/oz Au, $23/oz Ag, $3.90/lb Cu. Cash flows exclude cash flows from Horizon Copper debenture. Average Annual Gold Production based on 2021 Feasibility Study. See www.ssrmining.com for more information.
The Hod Maden project is located in northeastern Türkiye within the Eastern Pontides metallogenic belt. Gold-copper mineralization in the Main Zone at Hod Maden occurs as semi-massive to massive sulphides and multi-phase quartz-sulfide breccia-hosted mineralization.
Robertson
Nevada Gold Mines
2027
First Production
Actively Permitting
$5 million
Expected Average Annual Cash Flows to Sandstorm
1.6 million ounces
Maiden Proven & Probable Reserves
Average Annual Cash flows are post-tax, based on commodity price assumptions of $1,800/oz Au, $23/oz Ag, $3.90/lb Cu. As of December 31, 2022, Proven and Probable Reserves are 1.6 Moz contained in 110 Mt at 0.46 g/t within Measured and Indicated Resources of 160 Mt at 0.42 g/t for 2.2 Moz gold (inclusive resources, 100% basis, varied cut-off grades). See www.barrick.com for more information.
The Robertson property is located in one of the most highly mineralized areas of ground in Nevada, approximately 100 km southwest of Elko, Nevada within the Battle Mountain-Eureka Gold Trend. The property lies at the north end of the Cortez District. Robertson is owned by Nevada Gold Mines (NGM), a joint venture between Barrick Gold Corp. (61.5%) and Newmont Corporation (38.5%).
MARA
Glencore
2029
Estimated First Production
Brownfield Project
$30 million
Estimated Average Annual Cash Flows to Sandstorm
20,000 ounces
Average Annual Gold Deliveries to Sandstorm
Timeline to production based on Sandstorm estimates. Expected cash flows and attributable production assumes gold price of $2,100/oz and is subject to Gold Stream conversion decision and contractual payment.
The MARA project is a low capital intensity, long life brownfield copper project with precious metal byproducts. Leveraging existing infrastructure from Glencore’s Alumbrera mine, the brownfield MARA project is expected to be part of the top 25 global copper producers once in production. Located in the mining-friendly province of Catamarca, Argentina, MARA hosts proven and probable mineral reserves of 5.4 million tonnes of copper and 7.4 million ounces of gold.
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