Mexico’s proposed higher mining royalties could block nearly $7bn in investments
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Vancouver-based streaming firm Sandstorm Gold (TSE:SSL) has seen some impressive gains on its share price over the past week; last Monday the company was trading at less than $6 per share, by the end of the week it was more than $7.50.
The company’s 2013 results are to thank. Sandstorm reported record sales and revenue last Tuesday, the result of a “transformation” year, as CEO Nolan Watson describes it.
By the end of 2013 the company saw its investments mature, with all of its assets now in commercial production.
There were some highly-publicized bumps along the way. In December the company was forced to review its investment in Colossus Minerals after the miner halted the development of its Serra Pelada mine in Brazil due to a serious lack of cash.
Colossus has since delisted from the Toronto Stock Exchange and its bankruptcy plan was approved by the Ontario court last week.
Despite this blunder, Watson says company has had a “very, very positive year.”
“We stand here in a really strong position with lots of cash.”
In this interview with MINING.com, Watson elaborates on the lessons learned from Serra Pelada and what Sandstorm is looking for this year. He also explains why streaming agreements can benefit some miners more than traditional forms of financing.
