I have yet to find what Sandstorm will be paying for Rambler's gold.
...excerpt
Rambler said last week it was set to receive a US$2m cash boost after Sandstorm Resources (CVE:SSL) accepted the company’s feasibility study for the Ming mine. The payment represents the second instalment under the gold off-take deal, which was arranged in March 2010.
Sandstorm paid an initial US$5m in March, and the third payment of US$13m will be made once Rambler has secured the key permits for the Ming Mine's construction. It is currently anticipated that the permitting will be completed during the second half of 2010.
In return for the upfront payments, Sandstorm will be entitled to 25% of the Ming mine’s first 175,000 ounces of payable gold, and 12% of all payable gold thereafter. Initially the agreement will last for 40 years and Sandstorm has the right to renew the deal for successive 10 year periods thereafter.
The final feasibility study of the project confirmed an initial 6-year mine life at 630 tonnes per day with an average annual production of 7.7 million lbs of copper, 11,600 ounces of gold and 42,600 ounces of silver. Production is targeted in Q2 2011.
Total production for the 6 year mine life is expected to be at 46.24 Mlbs (million pounds) of copper, 69,468 ounces of gold and 255,388 ounces of silver.
proactiveinvestors.com
...also, see slide 15 of this presentation
sandstormresources.com
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