DONNER Metals UPDATESANDSTORM METALS
Sandstorm has a copper stream agreement to purchase 17.5% of the life of mine copper produced from the Xstrata operated Bracemac-McLeod Mine at a per pound price of US
.80 (subject to adjustment if the spot price of copper falls below US$2.75 per pound, in which case the payments will decrease to US
.55 per pound).
SANDSTORM GOLD
Sandstorm has a gold stream agreement with Donner Metals Ltd. (TSXV:DON) (via a back-to-back agreement with Sandstorm Metals & Energy Ltd.), to purchase amount equal to 17.5% of the gold and gold equivalent produced from the Xstrata operated Bracemac-McLeod mine.
Donner Metals Ltd.: Bracemac-Mcleod Continues on Target
https://www.marketwire.com/press-release/donner-metals-ltd-bracemac-mcleod-continues-on-target-tsx-venture-don-1697663.htm
"Mine pre-production activities should be completed by year-end and the initial production is on schedule to begin in the first quarter of 2013."
"The Bracemac-McLeod deposit contains Proven and Probable Mineral Reserves of 3.7 million tonnes grading 9.60% zinc, 1.26% copper, 28.25g/t silver and 0.43g/t gold. Inferred Mineral Resources of 2.6 million tonnes grading 8.79% zinc, 1.31% copper, 38.84g/t silver and 1.06g/t gold are located in proximity to the Mineral Reserves."