$1.70 target price by Cormark Securities Inc.Cormark Securities Inc. came out today with a "buy" recommendation on Sandstorm and set a $1.70 target.
>Commented on SSL's 6th gold stream deal (anounced yesterday) whereby SSL will be getting 20% life of mine gold production from Metanor Resource’s (MTO.V) Bachelor Lake mine near Val d'Or in Quebec for $20 million in staged cash payments and ongoing payments of $500/oz gold delivered. Production is anticipated in Q2/2012 at 60,000 oz of gold per year (would equate to 12,000 oz/annum to SSL).
>Cormark estimated annualized production for SSL‘s six gold streams to be over 50,000 oz by 2013.
>Cormark anticipates SSL to add at least two more streams in 2011 and recommended SSL for investors seeking exposure to the gold market through an aggressive gold streamer with a proven management team.