Sandstorm Gold (TSX: V.SSL, Stock Forum), after Thursday’s closing bell, announced record first-quarter operating cash flow of $9.3 million as well as record gold sales of 7,946 ounces.
The gold streaming company said it achieved an average cash cost per ounce of $314, resulting in cash operating margins of $1,380 per ounce.
"The first quarter proved to be another record quarter in terms of gold sales and cash flow," said Sandstorm Gold President and CEO Nolan Watson. "As our cash balance continues to grow, we are better positioned to complete additional gold streams while minimizing equity dilution. I am confident that our team will be able to add significant value through acquisition during 2012."
For 2012, Sandstorm Gold forecasts attributable production of 26,000 to 34,000 ounces of gold, which is expected to increase to over 50,000 ounces of gold per year by 2015.
Shares of Sandstorm Gold have surged 50% so far in 2012 to its recent price of $1.80.