Sandstorm Gold Ltd T.SSL

alpha author reviews Sanstorm

[pogohere]

scroll down to the comment to find this:
On a cash flow basis Sandstorm is already the cheapest of the streamers/royalties. I;m not sure if you;ve been paying attention to whats been going on with some of the stream they have. This is what;s happened in 2011:
1) The biggest is probably the St. Elena 4-phase expansion plan. Silver crest will first increase tonnage to 2,500 tpd -increasing annual production to 40k oz annually. Mill optimization and new processing facility will further increase tonnage to 3,500 tpd and bring production to 55,000-60,000 annually (2012-2013). Finally they will construct and U/G mine ( no numbers out yet) so I will just estimate 10,000-15,000 (2013-2014), bringing production to between 65,000 - 75,000.
2) Recent release by Mentanor showing bachelor lake can achieve 60k oz production running at just 65% capacity, production increases expected to be announced following resource update. They should be running at 100% within 3-4 years, or 90-100k oz of production annually.
3) Brigus, though not announced yet do ongoing studies of mill optimization will increase mill capacity by at least 30%, bringing black fox to between 140-145k+ of production annually (2013-2014).
4) Aurizona continue to display great drill results and a high likilihood of an U/G mine in the future.
In other words, St. Elena = +8-10k additional att ounces
Menator - Up to 8k additional att ounces
Black Fox- +4 additional att ounces


https://seekingalpha.com/article/276086-an-alternative-approach-to-valuation-silver-wheaton?source=email_watchlist