RE: Resource Nationalism Wow, that's quite the pessimistic view there. Being on the concall, I didn't draw that conclusion at all, and Nolan specifically indicated the protections/mechanisms in place to mitigate political risk, including the stream dropping by 50% and getting 50% of their cash back. Both protections are are baked into the contract.
Regarding institutional investors selling, I'm not sure about this - in looking at the volumes this morning, it was pretty light. I would think if institutional investors were dumping their stocks, the volume would have been much higher. Also, the fact that on the Q&A section, there wasn't one institutional analyst that asked any questions, even though I know Canaccord, EuroPacific Capital, etc. have analysts covering this stock and on the call. Every Sandstorm call in which I have participated has had analyst questions. Now maybe there weren't any analysts on this call which I would say is highly unlikely given that there were a lot of questions that needed answers on this call. I think Nolan and David were able to provide clear, concise, honest and insightful answers that alleviated concerns, and as the conference call continued, the stock price started creeping up. Nolan also acknowledged that the Premier and Entree deals may give investors indigestion but I think he did a splendid job to both answer the questions and alleviate concerns. And the fact that he reiterated that anyone can call any of the management team (including himself) at any time indicates the comfort level he has in his team's decisions. I did talk with him afterwards and it just reaffirms how great it is to have a high integrity and humble CEO who, while acknowledging that he is not perfect, that he always, always makes decisions in the best interests of Sandstorm shareholders and investors and his goal is to bring value to shareholders' investment.