Sandstorm partner pulling out of Serra Pelada project, shares halted

|About: Sandstorm Gold Ltd. (SAND)|By:, SA News Editor

Sandstorm Gold (SAND +0.9%) says partner Colossus Minerals (COLUF) is pulling out of underground development at the Serra Pelada mine in Brazil to reduce ongoing costs.

SAND says it will need additional funding in order to proceed with the project, and will review its investment for a partial or full impairment as there can be no assurance that adequate funding will be available for Colossus in the future.

Trading remains halted.