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Contrarian, deep value, long/short equity, special situations

Sandstorm Metals: Destroying Shareholder Value For 3 Years

I have owned this company few years back, but luckily sold down with only minor losses. Today, have decided to have a look on how Sandstorm is doing and was surprised at how much worse the business has gotten. The only thing unchanged is kind optimistic words from its promotional management and smiling management pictures at the front pages of every investor communication.

Business Model

Sandstorm Metals and Energy (OTCPK:STTYF) is a micro cap Canadian company engaged in metals and energy mining streaming business. The company finances resources projects through an arrangement called commodity streaming. A commodity stream involves Sandstorm making an upfront payment to a resource partner that is in need of capital to build a project,

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