Sandstorm Gold Sees Revenues Rise In Q3 Despite Declining Production
Sandstorm Gold (TSX: SSL) last night reported its preliminary fourth quarter results, highlighted by preliminary revenue of $44.7 million.
Preliminary revenue improved by 8% on a year over year basis, up from the $41.3 million reported in the year ago period. Revenue also improved from the $41.4 million reported in the second quarter of this year.
Despite the revenue improvement attributable gold equivalent ounces came in at 17,350 ounces, a decline of 17.9% on a year over year basis from 21,123 ounces, as well as a marginal decline from 17,400 ounces last quarter.
Cost of sales amounted to $5.3 million, resulting in margins of $2,215 per attributable gold equivalent ounce.
Full financial results are slated to be released after the close of markets on November 7.
Sandstorm Gold last traded at $8.00 on the TSX.
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