# Sandstorm Gold

Sandstorm Gold is a Royalty Company based in Vancouver, Canada.

## Overview

- **Organization type:** Royalty Company
- **Headquarters:** Vancouver, Canada
- **Region:** Oceania
- **Address:** Vancouver, British Columbia, Canada
- **Founded:** 2008
- **Assets under management:** Undisclosed
- **Website:** sandstormgold.com
- **LinkedIn:** https://www.linkedin.com/company/sandstorm-gold-royalties

## Regulatory record

- **Reports private funds:** No

## About

Sandstorm Gold was founded in 2008 by Nolan Watson and David Awram, who previously worked at one of the early pioneers of the royalty and streaming model. The firm went public on the Toronto Stock Exchange in 2009 and has since grown through a combination of acquisitions and direct streaming deals with mining companies. Its wealth is derived entirely from public markets and institutional investor capital, not a single family fortune. The firm operates a streaming and royalty model: it provides upfront cash to mining companies in exchange for the right to purchase a percentage of future gold production at a fixed price. Asset-class mix includes gold-streaming agreements, royalty interests, and equity stakes in developers. Confirmed portfolio companies include the Aurizona gold mine in Brazil, the Canyon mine in Nevada, and the Fruta del Norte operation in Ecuador. Geographic footprint spans North America, South America, Africa, and Australia. As of 2025, Sandstorm Gold held a portfolio of over 250 assets. The firm has made at least three major acquisitions: the 2016 purchase of Mariana Resources for $70 million, the 2020 acquisition of Gold Royalties Corp, and the 2021 merger with Gold Mountain Royalties. In 2024, the firm announced a strategic partnership to fund exploration on certain properties (per public disclosures, 2024). The firm employs approximately 15-20 professionals across offices in Vancouver and Sydney. A structural differentiator is Sandstorm Gold's listing as a public company on the TSX and NYSE American, meaning it operates with quarterly earnings transparency and regulatory filing requirements, unlike a closed-end family office. This gives it permanent capital to recycle into new streams and royalties, but also subjects it to market price volatility and shareholder expectations.

## Sectors

- Commodities & Resources
- Infrastructure

## Offices

- Sydney, Australia

## People

- Nolan Watson — President and CEO
- David Awram — Executive Chairman
- Erfan Djabanor — Chief Financial Officer

## Questions

### Does Sandstorm Gold participate in fund commitments or only direct deals?

Sandstorm Gold transacts exclusively through direct, bilateral deals with mining companies. It does not commit capital to external investment funds. Each streaming or royalty agreement is structured as a direct contract between the firm and the mine operator.

### Which sectors does Sandstorm Gold explicitly avoid?

Sandstorm Gold focuses exclusively on gold and precious metals streaming and royalties. It avoids industrial metals, base metals, coal, and oil & gas. The firm has stated it prefers gold for its liquidity, price stability relative to other commodities, and the structural demand from central banks and investors.

### How does Sandstorm Gold source proprietary deal flow?

The firm sources deals through long-standing relationships with mining companies, operators, and investment banks that specialize in resources. Because it is a public company with a strong balance sheet and a reputation for closing quickly, operators come directly to Sandstorm offering early access to new streaming or royalty opportunities.

### What is Sandstorm Gold's known posture on co-investments alongside other royalty companies?

Sandstorm Gold sometimes participates in syndicated financing deals where multiple royalty companies provide capital to a single mining project. In those cases, each firm negotiates its own individual royalty or stream percentage. The firm has not publicly disclosed any formal co-investment club or consortium.

### Who runs investment decisions at Sandstorm Gold?

Nolan Watson, co-founder and CEO, leads strategy and capital deployment decisions. He is supported by Executive Chairman David Awram, CFO Erfan Djabanor, and a board of directors elected by public shareholders. Investment decisions are made internally by the management team without external investment committee votes.

## Related profiles

- [Equinox Gold Corp.](https://altss.com/profile/equinox-gold-corp)
- [Stakeholder Midstream](https://altss.com/profile/stakeholder-midstream)

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Last updated: 2026-06-03T20:00:00.000Z

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