SANDSTORM GOLD (SAND $3.05, rated Overweight, Price Target reduced to $5 from $6) 17% GOLD STREAM ON LUNA GOLD’S AURIZONA MINE RESTRUCTURED TO A 10% REVENUE ROYALTY AT GOLD PRICES ABOVE $1,350/OZ 11/20/2014

SANDSTORM GOLD (SAND $3.05, rated Overweight, Price Target reduced to $5 from
$6) 17% GOLD STREAM ON LUNA GOLD’S AURIZONA MINE RESTRUCTURED
TO A 10% REVENUE ROYALTY AT GOLD PRICES ABOVE $1,350/OZ 11/20/2014