Q2 2024 Sandstorm Gold Ltd Earnings Call Transcript
Key Points
- Sandstorm Gold Ltd (SAND) reported strong revenue of over $41 million for Q2 2024, boosted by elevated gold prices.
- The company achieved a new record for cash operating margins of over $2,040 per gold equivalent ounce.
- Sandstorm Gold Ltd (SAND) is on track to achieve its annual production target of 75,000 to 85,000 gold equivalent ounces for 2024.
- The Greenstone mine has started delivering gold, with production expected to ramp up in Q3 2024.
- The company has successfully reduced its debt to $383 million and aims to bring it down to $350 million by the end of the year.
- Q2 production was below budget due to temporary issues at several mines, including Aurizona, Cerro Moro, and Chapada.
- The delay in Greenstone mine's gold delivery impacted Q2 results, with no material amounts received during the quarter.
- The increase in gold prices led to a decrease in gold equivalent ounces from silver and copper revenue, affecting overall production figures.
- Aurizona mine faced operational challenges, including displacement of material in the Piaba pit, affecting production.
- The company is still in the process of paying down significant debt, which limits its ability to make large acquisitions in the near term.
Good morning. My name is Joanna, and I will be your conference operator today. At this time, I would like to welcome everyone to the Sandstorm Gold Royalties 2024 second-quarter results conference call. All lines have been placed on mute to prevent any background noise.
Please be aware that some of the commentary may contain forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. (Operator Instructions)
Okay, Mr. Watson, you may begin your conference.
Thank you, Joanna. Good morning, everyone, and thank you for calling into our Q2 earnings call. As usual, in a few minutes, I'll hand things over to Erfan, our CFO, to review our quarterly financial earnings and highlights. And before I do that, I would like to give a brief update on our business and specifically hone in on four key points.
Those
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
