Sandstorm Metals & Energy Ltd STTYF

RE: RE: PDAC re: SND

[pictgroup]

gwalker-  to clarify, NW did not say they would exclusively target producing mines.  emphasis was on the low cost aspect, not the notion of producing vs not producing.  for a producing mine it would likely be a matter of identifying a byproduct stream opportunity eg a silver mine producing some zinc or gold mine producing some copper with the notable benefit that stream revenues could commence immediately.  no reason the terms of a streaming deal in this scenario wouldn't be favourable if the stream is contracted on the mine's secondary product.  the low cost common denominator implies larger assets (to amortize the capex) and/or a partner with a multi-layered capital stack ie equity, debt, and stream components such that Sandstorm would not be the only dance partner.  i think the donner (xstrata) deal must obviously suit their profile going forward as well.  bottom line message was bigger resource + developer/partner = lower cost= better.