Sandstorm Gold ( NYSE: SAND ) -3.9% post-market Tuesday after launching a bought deal financing for 15.7M common shares at US$5.10/share, representing an 8.4% discount to today's closing price.
The company granted the underwriters an option to purchase up to an additional 15% of the offering to cover any over-allotments.
Sandstorm ( SAND ) said it plans to use the net proceeds for future acquisitions of streams and royalties, the repayment of amounts drawn under its revolving credit facility, and other general working capital purposes.
Sandstorm Gold ( SAND ) offers "industry leading growth at an attractive valuation with 70% upside potential," Taylor Dart writes in a bullish analysis posted recently on Seeking Alpha .
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Sandstorm Gold launches bought deal at $5.10/share