The shares were awarded as per a $2m converting loan facility provided by Sandstorm’s in November 2012.
Mutiny Gold managing director John Greeve remarked that the issue of shares was a major milestone in the development of a low cost, high value Deflector gold-copper project in Western Australia.
"At a time when global financial markets were facing historically difficult times and project funding had almost dried up for small miners, to have put together this deal with Sandstorm Gold Ltd was a major success story for Mutiny Gold and its supporters," said Greeve.
The company’s financial advisers Noah’s Rule helped Mutiny conclude a Metals Purchase Agreement (MPA) with Sandstorm worth $43m.
The MPA will fund a significant portion of the Deflector capital costs.
"Tied in with the quality drilling results we achieved last year, the subsequent significant increase to our JORC figures, the very robust outcomes of the Deflector Definitive Feasibility Study (DFS), Mutiny Gold is well on track to achieve a number of major goals this year on the way to commercializing what is a very valuable asset at Deflector and then stepping up our plan to become a major new mining house with a number of nearby developments," explained Greeve.
