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| Home : Sandstorm Gold to Receive US$24.4 Million from Brigus Gold |
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Oct 31
2012 |
Sandstorm Gold to Receive US$24.4 Million from Brigus Gold |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2012) - Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (TSX VENTURE:SSL)(NYSE MKT:SAND)(NYSE Amex:SAND) has received official notification that Brigus Gold Corp. ("Brigus") (TSX:BRD)(NYSE MKT:BRD) will exercise its repurchase option under the gold stream agreement between Sandstorm and Brigus, by making a US$24.4 million payment to Sandstorm. Under the original agreement (previously announced on November 9, 2010), Sandstorm is entitled to purchase 12% of the gold produced from the Black Fox Mine, at an ongoing purchase price of US$500 per ounce. With the payment from Brigus, 4% of the gold stream will be repurchased and Sandstorm will be entitled to purchase 8% of the gold produced from the Black Fox Mine. |
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| Source:http://www.marketwire.com/mw/release.do?id=1719891&sourceType=3 |
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