Sandstorm has agreed to purchase 25% of the first 3,800,000 tons of metallurgical equivalent coal (where three tons of thermal coal equals one ton of metallurgical equivalent coal) produced and 16% of the life of mine metallurgical equivalent coal produced thereafter from the Rosa Mine and the Rex No. 1 Mine for ongoing per ton payments of US$75 for metallurgical coal and US$55 for thermal coal.
Sandstorm Metals & Energy Provides Update on Novadx Operations
https://www.marketwire.com/press-release/sandstorm-metals-energy-provides-update-on-novadx-operations-tsx-venture-snd-1618098.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2012) - Sandstorm Metals & Energy Ltd. ("Sandstorm" or the "Company") (TSX VENTURE:SND) is pleased to announce progress at Novadx Ventures Corp.'s ("Novadx") (TSX VENTURE:NDX) Rosa Mine and Rex No. 1 Mine.
Recently, Novadx announced commercial production at the Rosa Mine. The Rosa wash plant is producing high quality metallurgical coal with contract prices currently in excess of $170 per ton.
At the Rex No. 1 mine, Novadx has commenced raw coal shipments to two customers on a trial basis while Novadx works towards the permitting and development of a coal preparation facility on site. During 2012, Novadx intends to complete mine rehabilitation and establish seven operating faces to support commercial production at the Rex No. 1 Mine.