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12/28/16

Mining PRs and the Ottotrans™, Part 96

 

It's number 96 in our occasional series and this time it's over to Nolan Watson and his merry crowd at Sandstorm (SAND) (SSL.to), with the top block of today's NR up first and the Ottotrans™ underneath:
VANCOUVER, Dec. 28, 2016 /PRNewswire/ - Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (NYSE MKT: SAND, TSX: SSL) is pleased to provide an update regarding activity under its normal course issuer bid ("NCIB") as well as exploration and development progress at a number of assets underlying the Company's streams and royalties.

NORMAL COURSE ISSUER BID
Sandstorm previously announced a NCIB (see press release dated March 30, 2016), providing the Company with the option to purchase its common shares when management believes that the common shares are undervalued by the market. The fourth quarter of 2016 has seen significant declines in the price of gold, impacting Sandstorm's share price and market valuation. As a result, the Company has recently purchased some of its common shares. Since December 15, 2016, the Company has purchased 545,977 common shares at a weighted average price of C$4.56 per common share.

And this is what it means:
We had a deal planned but it fell through and we didn't have anything else to do with the cash.