Sandstorm Gold lifts revolver, draws full $110 million for purchase

By Wendy Van Sickle

Columbus, Ohio, Oct. 27 – Sandstorm Gold Ltd. increased its revolving credit facility by $10 million to $110 million, which it fully drew to fund a purchase of multiple assets from Yamana Gold Inc., according to a Tuesday press release.

Sandstorm has agreed to purchase silver, copper and potential gold production streams from up to five projects in Argentina and Brazil for an upfront consideration of $148 million, an additional $4 million in six months and 15 million warrants of the company.

In addition to the revolver borrowings, Sandstorm paid $38 million from its cash balance.

Sandstorm is based in Vancouver, B.C. It provides upfront financing to gold-mining companies and receives gold streaming agreements in return.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.