Interesting deal. Will give us upfront cash we need to help...

Interesting deal.


Will give us upfront cash we need to help develop Deflector - will be part of full 100% + funding to develop Deflector.


After doing some quick calculations, i woulda liked to see a better per ounce payment to Mutiny for per gold ounce of around $750 - so the 15% of gold we are selling is atleast around the cash costs of production.

Sandstorm are getting a pretty good deal here - i really hope when more details come out from Mutiny - all their other deposits like Spanish Galleon etc do not fall under this agreement. It mentions that Sandstorm have the right to purchase 15% of gold purchased from other deposits if they kick in 15% of project capital for these other projects.

They are giving us 38million upfront which is nice, but they are effectively getting gold at over $1000 an ounce cheaper then what is currently is. This is in their favour once they buy over say 35,000 ounce from Deflector.

Its a good deal for Sandstorm for sure, but i like it for MYG, pretty much ensures no share dillution going forward - ide say CS will be throwing in atleast the remainder o0f project financing.

Also, remember its only 15% of our gold produced. It still leaves us with a big chunk of production to ourselves.