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Sandstorm Gold buys royalty stake in Burkina Faso mine from Acacia

Dec. 19, 2017 11:37 AM ETSandstorm Gold Ltd. (SAND) Stock, SSL:CA StockBy: Carl Surran, SA News Editor1 Comment
  • Sandstorm Gold (NYSE:SAND -0.2%) agrees to acquire Acacia Mining's (OTCPK:ABGLF, OTC:ABGLY) 2% royalty stake in the Houndé gold mine in Burkina Faso for $45M.
  • SAND expects the mine to produce 235K oz./year of gold on average over the first four years of operations; the mine has an initial 10-year mine life based on the current mineral reserves.
  • Jefferies analysts say the sale will help Acacia's balance sheet as a concentrate export ban in Tanzania enters its second year.

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