It’s what happened after the close of 2q16 that’s the most interesting. This bullet point from the NR:
Subsequent to quarter end, Sandstorm completed an equity financing for aggregate gross proceeds of $57.5 million.
Upon closing of the financing, the majority of the net proceeds were
used to reduce the balance of the Company’s revolving credit facility.
As a result, the Company currently has no bank debt and the entire $110 million revolving credit facility remains available for acquisition purposes.
As at 4q15, long-term bank debt stood at U$83.5m. Now it’s all gone. I’m impressed.