Sandstorm Gold Royalties (TSX: SAND; NYSE: SAND) expects to double production to around 160,000 oz. gold yearly over the next five years, co-founder and CEO Nolan Watson said in an interview.
The company holds about 240 royalties in a geographically diverse portfolio, which Watson says provides leverage to the record gold price and a bullish outlook on commodities.
“We now can grow without issuing equity thanks to what we own and our increased cash flow,” Watson said during the Rule Symposium in July, held in Boca Raton, Fla. “From here, it should be a smoother ride for shareholders with less volatility but still the same strong returns over time.”
The strategy comes as Sandstorm has reduced its debt from US$640 million to US$388 million and has begun buying back its shares. Watson also expressed a bullish outlook on gold and other commodities, citing the growing interest in gold-backed currencies and increasing central bank reserves of gold worldwide.
Watch the full interview with The Northern Miner’s western editor, Henry Lazenby.
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