Canada’s Sandstorm Gold has unveiled it ex-panded its portfolio of producing assets and immediate cash flow via the execution of a US$30 million gold stream and royalty agreement with Vatukoula Gold Mines and the acquisition of a royalty package on a part of Vale S.A.’s operations at a net purchase price of US$108 million.
“The addition of the VGML Stream and Vale Royalties has strength-ened our immediate and long term cash flow projections and fortified our producing royalty portfolio,” said Nolan Watson, the president and CEO of Sandstorm Gold, as quoted in a statement.
Sandstorm Gold’s deal with Vatukoula concerns the latter company’s gold mine in Fiji.
“The Vale Royalties provide Sandstorm shareholders exposure to high-quality assets with reserve weighted mine lives of several dec-ades, while the VGML Stream adds fixed gold deliveries with opera-tional and exploration upside,” according to Watson.