Sandstorm Gold Ltd T.SSL

Alternate Symbol(s): SAND

Metals & Mining Gold

Sandstorm Gold Ltd. is a Canada-based precious metals-focused streaming and royalty company. The Company is focused on acquiring royalties and gold and other metals. The Company holds a portfolio of over 230 royalties, of which 41 of the underlying mines are producing. Its segments include Antamina, Aurizona, Blyvoor, Bonikro, Caserones, Cerro Moro, Chapada, Fruta del Norte, Hounde, Mercedes, Vale Royalties, and others. Antamina open-pit copper mine located in the Andes Mountain range of Peru, approximately 270 kilometers (km) north of Lima. Aurizona mine is in Brazil. The Blyvoor gold mine is located on the Witwatersrand gold belt, South Africa. The Bonikro gold mine is located in Cote d’Ivoire. Caserones open pit mine is in the Atacama region of Chile. Chapada mine is located 270 km northwest of Brasilia in Goias State, Brazil. Mercedes gold-silver mine in Sonora, Mexico. Black Fox mine and Froome mine are located in Ontario, Canada.

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Sandstorm Gold Ltd

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Post by gjervison Dec 23, 2013 1:20pm

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Post# 22033779

Colossus Minerals (T.CSI) loses financing, collapse appears

Toronto-based Colossus Minerals (TSX:T.CSI, Stock Forum) has halted trading as news has disseminated that the company may not be able to continue business activities past December 31 due to much-needed financing arrangements having been cancelled.

Late Friday, the company announced Arias Resource Capital Fund II L.P. and Arias Resource Capital Fund II (Mexico) L.P. had informed management that the ARC Funds would not be proceeding with the two tranche financing previously announced two days earlier.

That financing had been previously described as a loan of $4 million and $21 million in private placement financing. The agreement was conditional on Sandstorm Gold (TSX:T.SSL, Stock Forum), which has a long-term precious metals purchase agreement with Colossus, agreeing to concessions that “would defer and reduce certain of the company's financial liabilities.”

Colossus had hoped to use the funds to finance the Serra Pelada project in Brazil, for which it needs around $70 million to move to production.

The company, which has dropped from a share price of $4.50+ a year ago to $0.11 when trading was halted, has been drowning in bad news over the last few months as the TSX has notified it will be looking into delisting it’s warrants and unsecured gold-linked notes, and it fell 40% in early December when Sandstorm announced it was reviewing its investment in the firm while dewatering delays threatened to push production back to Q2 2014.

In what appears to be an effort to bolster the stock despite the likelihood that it will cease to do business in the next week, the company released a 43-101 Monday morning, burying references to the lost financing in the bottom of the statement. A susequent 'correction from source' moved that information to the top of the document.

Trading in Colossus resumed at 10:15am Pacific and shares quickly plummeted to $0.03.
Read more at https://www.stockhouse.com/news/natural-resources/2013/12/23/colossus-minerals-t-csi-loses-financing-collapse-appears-imminent#oh3vVoj72hKCAE4Z.99

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