Sandstorm Gold (PINK:SNDXF) Showing Steady Moves
Shares of SANDSTORM GOLD LTD ORD (PINK:SNDXF) are showing very smooth rise over the past one month ever since it announced positive results at Luna Gold’s Aurizona Mine.
Sandstorm Gold is expected increase its production level to over 50K gold ounces per annum by the next three years from forecasted 2011 attributable production of 13-18K.
Sandstorm Gold – SNDFX said that its gold production from Luna Gold Corp.’s (“Luna”)’s property stood at 9200 ounces. It holds right to purchase 17% of the life of mine gold produced from this property at discount of $400 from the prevailing market price.
Sandstorm Gold reported impressive results from six new drill holes.
Sandstorm Gold holds 20% interest in SANTA ELENA GOLD STREAM, whereby it can buy at a at discount of $350 from the prevailing market price. The company said that it is estimating to have a life span of 10 years with estimated annual production of 30, 000 ounces of Gold.
With the increased price of Gold, prospectus of the company is looking good and traders are recapitulating shares of the company.
Over the past one month, shares of Sandstorm Gold have risen from $1.04 on Jun 2, 2011 to $1.39, today. The stock is down 1.60% to $1.39 this morning.
For the latest quarter, the company had reported revenue of $3.66 million and net income of $958K. Sandstorm Gold had total assets of $133.47 million.
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