# Sandstorm Gold Royalties Portfolio Updates; Platreef Expansion Studies, FDN Resource Growth, Argentine Project Advancements

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/sandstorm-gold-royalties-portfolio-updates-platreef-expansion-studies-fdn-resour--e6573f2c-e9d6-49a7-85ad-dbee3f5b8106

Original source: https://money.tmx.com/en/quote/SAND/news/5846768021374297/sandstorm-gold-royalties-portfolio-updates-platreef-expansion-studies-fdn-resour

Publisher: tmx

Original announcement: 2025-02-24T13:15:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Sandstorm Gold Royalties Ltd.

- Ticker: SAND

- Exchange: TSX

- Region: Unavailable

- Primary commodity: Gold

- Secondary commodities: Platinum, Palladium, Rhodium, Nickel, Copper, Silver, Zinc

- Document categories: Resource update, Drill results, Other

- Extracted: 2026-08-21 08:44:21 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Sandstorm Gold Royalties reported significant portfolio updates, including a major resource and reserve increase at the Fruta del Norte mine in Ecuador. Additionally, the company highlighted positive expansion studies for the Platreef mine in South Africa and advancements in its Argentine royalty assets.

Reasoning: The announcement contains multiple material updates across the portfolio, most notably a significant resource/reserve increase at FDN and positive feasibility/PEA results for Platreef expansion.

- Positive factor: Significant resource and reserve growth at Fruta del Norte

- Positive factor: Expansion studies for Platreef show strong NPV and IRR

- Positive factor: Advancements in Argentine projects under new RIGI regime

Facts used in scoring: 3

## Classification and evidence

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: Inferred resources at FDN grew by 59% to 2.36 Moz.

Evidence · text

> grown Inferred Resources at FDN by 59% to 2.36 million ounces \("Moz"\)

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document provides updated Mineral Resource and Reserve estimates for the Fruta del Norte mine.

Evidence · text

> Lundin Gold Inc. \("Lundin Gold"\) has published a significant increase in the Mineral Reserves and Mineral Resources at the Fruta del Norte mine

## Extracted facts

Stored fact records: 3. Some facts used in scoring do not have a stored record.

## Resource Estimates (3)

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/sandstorm-gold-royalties-portfolio-updates-platreef-expansion-studies-fdn-resour--e6573f2c-e9d6-49a7-85ad-dbee3f5b8106#fact-resource-facts-0)

gold

#### Identity

- Commodity: gold
- Ticker: SAND

#### Resource Data

- Category: inferred
- Tonnes: 71112000
- Grade: 5.27
- Grade Unit: g/t
- Contained Metal: 12100000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-02-24T00:00:00.000Z

Reasoning: Inferred resource grew by 59% to 2.36 Moz at 5.27 g/t.

- Positive factor: 59% increase in inferred resources

Evidence · text

> grown Inferred Resources at FDN by 59% to 2.36 million ounces \("Moz"\) of contained gold at 5.27 grams per tonne \("g/t"\)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/sandstorm-gold-royalties-portfolio-updates-platreef-expansion-studies-fdn-resour--e6573f2c-e9d6-49a7-85ad-dbee3f5b8106#fact-resource-facts-1)

gold

#### Identity

- Commodity: gold
- Ticker: SAND

#### Resource Data

- Category: indicated
- Tonnes: 30620000
- Grade: 7.17
- Grade Unit: g/t
- Contained Metal: 7060000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-02-24T00:00:00.000Z

Reasoning: M&I resources reported at 7.17 g/t gold.

- Positive factor: Measured and Indicated resources increased to 7.06 Moz

Evidence · text

> Measured and Indicated Resources increased to 7.06 Moz of contained gold from 30.62 Mt at an average grade of 7.17 g/t

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/sandstorm-gold-royalties-portfolio-updates-platreef-expansion-studies-fdn-resour--e6573f2c-e9d6-49a7-85ad-dbee3f5b8106#fact-resource-facts-2)

gold

#### Identity

- Commodity: gold
- Ticker: SAND

#### Resource Data

- Category: probable
- Tonnes: 22060000
- Grade: 7.81
- Grade Unit: g/t
- Contained Metal: 5540000
- Contained Unit: oz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-02-24T00:00:00.000Z

Reasoning: P&P reserves reported at 7.81 g/t gold.

- Positive factor: Proven and Probable reserves grew to 5.54 Moz

Evidence · text

> Proven and Probable Mineral Reserves grew to 5.54 Moz of contained gold from 22.06 Mt at an average grade of 7.81 g/t

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.