Bullboard - Stock Discussion Forum Sentry Select Primary Metals Corp T.PME

Alternate Symbol(s): SPMLF

Sentry Select Primary Metals Corp. (the Fund) is a Canada-based financial investment company. The Fund invests in an actively managed portfolio consisting primarily of securities of mining and exploration issuers, with a current focus on gold issuers. The Fund’s investment objective is to provide shareholders with long-term capital appreciation, and monthly cash distributions. CI Investments... see more

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Sentry Select Primary Metals Corp > Mines starting to shutter operations due to COVID19

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Post by mouserman on Mar 20, 2020 10:59am

Mines starting to shutter operations due to COVID19

I see SSL has pulled its guidance for the year, expecting not to get their royalties due to mine closures from an unforseen pandemic.

Royalty company Sandstorm Gold Ltd. (NYSE: SAND, TSX: SSL) late Wednesday pulled its production guidance due to the unpredictable impact of the COVID-19 virus. The company also announced progress on its share buyback program.

“Due to the unknown long-term effects of the current global health pandemic, Sandstorm has made the decision to withdraw the company’s 2020 production guidance for the year,” Sandstorm said in a prepared statement. “Although Sandstorm has not received any direct notification of closures at any partner mine sites, we believe it is reasonable to expect that actions taken to reduce the spread of COVID-19 will affect global mining production levels during 2020.”
Decided its best to stay on the sidelines and not buy into these miners despite the good prices for their products.