Name of the Project
Hod Maden gold/copper project.

Location
In the Eastern Pontides metallogenic belt, in north-eastern Turkey.

Project Owner/s
Sandstorm Gold has a 30% interest in the Hod Maden project.

Project Description
The feasibility study on the Hod Maden project, released in November 2021, envisages an underground mine divided into two distinct mining zones, with a modified drift-and-fill technique applied to the upper mine area and a longhole stoping technique applied to the lower mine area.

The upper mine will be accessed through two shallow shafts located north and south of the mineralisation.

The mine will have a capacity of 800 000 t/y, with a total of 8.7-million tonnes of ore produced during the 13-year mine life. The ore to be processed is classified into regular and a pyrite ore with a flowsheet reconfiguration when processing pyrite ore to maximise gold recovery.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $1.3-billion and an internal rate of return of 41%, with an after-tax payback of two from the start of production.

Capital Expenditure
Upfront capital expenditure is estimated at $309-million.

Planned Start/End Date
Production from Hod Maden is currently expected in the second half of 2024.

Latest Developments
With the release of the feasibility study, the Hod Maden project has moved into the next stage of development.

Key Contracts, Suppliers and Consultants
GR Engineering Services, AMC Consultants, and Hacettepe Mineral Teknolojileri (feasibility study).

Contact Details for Project Information
Sandstorm Gold, tel +1 604 689 0234 or email info@sandstormgold.com.