Santa Elena Mine Deal Can anybody tell me if SSL's interest in this mine is only for the Gold produced or do they also have a deal for the Silver produced. From the SSL website my it tells me that it's only for the Gold, per4haps somebody knows more. I am looking for a Silver play and this stock came up in my search, just doing my DD now. Thx In Advance.
Sandstorm Transaction
Sandstorm has agreed to purchase 20% of the life of mine gold production from Santa Elena for an upfront payment of US$12 million in cash and 3.5 million common shares in Sandstorm plus ongoing per ounce payments equal to the lesser of US$350 and the prevailing market price per ounce of gold.
In the event that SilverCrest completes a positive technical report on an underground portion of the Santa Elena Project, Sandstorm will have the right (but not the obligation) to purchase 20% of the payable gold from the Santa Elena Underground Mine for an upfront payment that is equal to 20% of the upfront capital expenditures made by SilverCrest, adjusted pro rata for the gold to gold equivalent ratio of silver, plus ongoing per ounce payments equal to the lesser of US$450 and the prevailing market price per ounce of gold.