VANCOUVER, Nov. 5, 2013 /CNW/ - Sandstorm Metals &
Energy Ltd. ("Sandstorm" or the "Company") (TSX-V: SND) has
released its unaudited results for the third quarter ended
September 30, 2013 (all figures in
U.S. dollars).
Third Quarter Summary
- Converted the copper stream on the Bracemac-McLeod Mine into a
2.4% net smelter return royalty (NSR) based on 100% of the
production from the mine.
- $0.4 million in royalty revenue
was received during the third quarter from the Bracemac-McLeod
NSR.
- Net loss of $6.6 million
primarily attributable to a non-cash impairment charge of
$6.3 million related to the
conversion of the Bracemac-McLeod copper stream into a NSR.
Sandstorm President & CEO Nolan Watson commented, "During the quarter, our
time and energy was focused on restructuring some of the Company's
existing commodity stream agreements. The process is nearing
completion and our efforts are reorienting towards the next steps
to grow the Company."
Sandstorm's third quarter results for the period
ended September 30, 2013 are
available on SEDAR at www.sedar.com and on the Company website at
www.sandstormmetalsandenergy.com. A conference call will be held on
Wednesday, November 6, 2013 starting
at 10:30am PST to discuss the third
quarter and provide a corporate update. To participate in the
conference call use the dial-in numbers below. It is recommended
that participants dial in five minutes prior to the commencement of
the conference call. To access an audio webcast of the conference
call, click here. The webcast will also be available on the
Sandstorm website.
Local/International: 647-788-4916
North American Toll-Free: 877-214-4966
ABOUT SANDSTORM METALS & ENERGY
Sandstorm Metals & Energy Ltd. is the
world's first diversified streaming company. Sandstorm provides
upfront financing to resource companies that are looking for
capital and in return, receives a commodity streaming agreement.
This agreement gives Sandstorm the right to purchase a percentage
of the commodity produced at a mine, for the life of the mine, at a
fixed price. Sandstorm has acquired a portfolio of three commodity
streams and two net smelter return royalties in copper, lead,
natural gas, palladium and zinc. Sandstorm plans to grow and
diversify its production base through the acquisition of additional
commodity streams.
Sandstorm Metals & Energy is focused on low
cost operations with excellent exploration potential and strong
management teams. Sandstorm has completed commodity stream and
royalty agreements with Canadian Zinc Corp., Colossus Minerals
Inc., Donner Metals Ltd., Entrée Gold Inc. and Gordon Creek Energy
Inc.
For more information visit:
www.sandstormmetalsandenergy.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Except for the statements of historical fact
contained herein, the information presented constitutes
"forward-looking information" or "forward-looking statements"
within the meaning of applicable Canadian securities legislation.
Forward-looking statements can generally be identified by the use
of forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans",
or similar terminology. Forward-looking information is based on
reasonable assumptions that have been made by Sandstorm as at the
date of such information and is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Sandstorm to be
materially different from those expressed or implied by the
forward-looking information, including but not limited to: the
impact of general business and economic conditions; the absence of
control over operations from which Sandstorm will purchase
commodities and risks related to those operations, including risks
related to international operations, government and environmental
regulation, actual results of current exploration activities,
conclusions of economic evaluations and changes in project
parameters as plans continue to be refined; problems inherent to
the marketability of commodities; industry conditions, including
fluctuations in the price of commodities, fluctuations in foreign
exchange rates and fluctuations in interest rates; stock market
volatility; competition; as well as those factors discussed in the
section entitled "Risks to Sandstorm" in Sandstorm's annual report
for the financial year ended December 31,
2012. Although Sandstorm has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. Sandstorm does not undertake to update
any forward-looking information that is contained or incorporated
by reference herein, except in accordance with applicable
securities laws. Sandstorm does not provide any representation as
to its comparability with other companies in its industry
including, but not limited to, Franco-Nevada Corporation, BHP
Billiton and Rio Tinto.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Sandstorm Metals & Energy Ltd.