Last C$0.30 CAD
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Volume 215.8K
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As of 3:59 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

sandspring resources ltd (SSP) Snapshot

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52 Week High
03/14/14 - C$0.44
52 Week Low
07/26/13 - C$0.18
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sandspring resources ltd (SSP) Details

Sandspring Resources Ltd., a junior gold mining company, explores and develops mineral properties in the Republic of Guyana, South America. It primarily focuses on developing the Toroparu gold project, which consists of 7 small scale claims, 167 contiguous medium scale prospecting permits, and 13 medium scale mining permits that together cover an area of 74,742 hectares, as well as 5 contiguous prospecting licenses covering an area of 23,471 hectares in northwestern Guyana. The company is headquartered in Centennial, Colorado.

sandspring resources ltd (SSP) Top Compensated Officers

Chief Executive Officer, Corporate Secretary ...
Total Annual Compensation: C$292.5K
President and Chief Operating Officer
Total Annual Compensation: C$340.4K
Chief Financial Officer
Total Annual Compensation: C$293.3K
Executive Vice President and Director
Total Annual Compensation: C$212.7K
Vice President of Exploration
Total Annual Compensation: C$300.0K
Compensation as of Fiscal Year 2013.

sandspring resources ltd (SSP) Key Developments

Sandspring Resources Ltd. Auditor Raises 'Going Concern' Doubt

Sandspring Resources Ltd. filed its Annual on Apr 11, 2014 for the period ending Dec 31, 2013. In this report its auditor, KPMG LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Sandspring Resources Ltd., Annual General Meeting, Jun 05, 2014

Sandspring Resources Ltd., Annual General Meeting, Jun 05, 2014., at 09:00 Eastern Daylight. Location: Suite 2100 Scotia Plaza. Agenda: to receive and consider the audited financial statements of the company for each of the financial years ended December 31, 2013 and 2012 and the reports of the auditors thereon; to elect directors of the company for the ensuing year; to appoint the auditors for the ensuing year and to authorize the directors to fix their remuneration; to consider and approve the company's stock option plan; and to transact such further business as may properly come before the meeting or any adjournment or postponement thereof.

Sandspring Resources Receives First Draw Down Under its Streaming Agreement with Silver Wheaton

Sandspring Resources Ltd. announced that it has received the initial draw down of $13.5 Million from Silver Wheaton (Caymans) Ltd., pursuant to the terms of the precious metals purchase agreement that was announced in November. Under the agreement, Silver Wheaton agrees to pay Sandspring total cash consideration of $148.5 million plus an ongoing production payment of the lesser of $400 (subject to a 1% annual inflation adjustment starting in the fourth year after the completion test is satisfied) and the prevailing market price for 10% of the life of mine payable gold production from the company's Toroparu Project in Guyana S.A. The Initial drawdown was payable upon meeting certain conditions which have now been satisfied. The proceeds from the Initial Drawdown will be used primarily for advancement of the final feasibility documentation for the Toroparu Project. The balance of the $148.5 million is subject to Silver Wheaton's election to proceed and is payable in installments during construction of the Toroparu Project once all necessary mining licenses have been obtained and conditions pertaining to final feasibility, the availability of project capital finance, the granting of security to Silver Wheaton and other customary conditions are satisfied. If following receipt of feasibility documentation, or after December 31, 2015 if feasibility documentation has not been delivered, Silver Wheaton elects not to proceed, Sandspring may elect to either return $11.5 million to Silver Wheaton and terminate the agreement or to reduce the stream percentage from 10% to 0.774%.


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