Sandstorm Metals acquires gold stream from Mutiny Gold

theflyonthewall.com

Sandstorm Gold announced that it has entered into a gold stream agreement with Mutiny Gold to acquire an amount of gold from the Deflector Project located in Western Australia. Sandstorm has agreed to purchase an amount equal to 15% of the gold produced from Deflector. Pursuant to this agreement, Sandstorm will make an initial upfront cash payment to Mutiny of $9M and will make a future cash remittance of $29M once Mutiny has received final mine permits for Deflector as well as completed certain funding conditions. In addition, Sandstorm will make ongoing per ounce payments equal to the lesser of $500 per ounce of gold and the prevailing market price of gold. If Deflector produces more than 85,000 ounces of gold in a given year, Sandstorm will make a one-time $4M payment to Mutiny. Aside from the Initial Deposit, the Second Deposit, the Per Ounce Payments and the Conditional Deposit, Sandstorm is not required to contribute to any capital, exploration or operating expenditures in respect to Deflector.

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