Sandstorm Gold(NYSEMKT:SAND) announced a strategic investment in Luna Gold(OTCQX:LGCUF) on August 5, 2014. This announcement alone has caused me to go from neutral on the shares to bearish. Sandstorm has never been a favorite gold mining play of mine, as I have always felt the company's stock was overvalued compared to the assets that it owned. However, I did think it gave investors good exposure to gold in an upward price environment. For the time being though I think it's best to avoid the shares as there is a lot of uncertainty at this point.
Sandstorm's gold stream agreement with Luna Gold
In May of 2009, Sandstorm Gold announced it had signed a gold stream agreement...
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