Early data has been released on the performance of Sandstorm Gold (TSX: SSL) for the fourth quarter of 2024. The firm this morning released both sales and revenues figures, in addition to reiterating a long term production forecast.
In the fourth quarter, the company saw sales of 17,700 attributable gold equivalent ounces, which recording revenue of $47.4 million on a preliminary basis. On a year over year basis, sales declined from 23,250 attributable gold equivalent ounces, a near 24% decline, while revenue improved from $44.5 million on a comparable basis.
Preliminary cost of sales in the fourth quarter totaled $4.3 million, which led to cash operating margins of $2,397 per gold equivalent ounce. In the fourth quarter of 2023, Sandstorm recorded cash operating margins of approximately $1,737 per ounce.
For the full fiscal year, a total of 72,800 attributable gold equivalent ounces were sold for total revenue of $176.3 million. With preliminary costs of sales of $20.0 million, it equates to a cash operating margin of $2,097 per ounce. Comparably, 2023 saw the sale of 97,245 ounces and $179.6 million in revenue, with cash operating margins of $1,706 per ounce.
In terms of guidance, Sandstorm had previously guided to 2024 production guidance of between 75,000 to 90,000 gold equivalent ounces, which it dropped to a range of 70,000 to 75,000 gold equivalent ounces at the end of the third quarter.
Full guidance for 2025 is expected to be released with its 2024 annual results, however the company remains committed to its long term production forecast of 125,000 attributable gold ounces within the next five years.
Sandstorm also indicated that its revolving credit facility currently has a balance of $355 million, with an undrawn and available balance of $270 million. The company meanwhile spent $10.8 million in 2024 repurchasing 2.0 million shares.
Full financial results are slated to be released on February 18 after markets close.
Sandstorm Gold last traded at $8.11 on the TSX.
Information for this story was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
