Nolan Watson | Mining Management Must Be Countercyclical & Contrarian to Maximize Shareholder Value

By nolan watson / September 09, 2018 / / Article Link

Nolan Watson is the CEO and co-founder of Sandstorm Gold Royalties.Perhaps no mining executive in the gold mining sector has negotiated more streaming and royalty deals than Nolan.Before co-founding Sandstorm in 2008, Nolan was the Chief Financial Officer of Silver Wheaton, a multi-billion dollar public company where he helped develop the silver streaming business model and helped raise more than US$1 billion in debt and equity.In this interview, Nolan talks about the state of mining finance and how Sandstorm is uniquely positioned for significant growth in this changing environment.Sandstorm is a Mining Stock Education sponsor and trades on the Toronto Stock Exchange under the ticker symbol SSL and on the NYSE American under the ticker SAND.Visit to learn more about Sandstorm and to access the most recent investor presentation: cautionary note regarding forward-looking statements found within the investor presentation applies to the content of this interview. 0:05 Introduction of topic and guest2:16 Nolan Watson's background as a mining executive3:29 How Sandstorm Gold Royalties generates revenue4:52 Wisdom of the royalty/streaming model of business6:53 Sandstorm's IPO and subsequent explosive growth8:22 How mining finance is different in now than ten years ago9:28 Nolan's response to mining CEO's who don't like royalty agreements10:52 How Sandstorm has used the mining boom-bust cycle to position itself for significant growth13:34 Free exploration upside can yield significant growth for royalty companies15:47 Sandstorm's due diligence process in vetting a potential project/company18:42 Sandstorm's appeal to a physical precious metals-only type investor19:56 Investing in Sandstorm vs. putting one's money in a gold mining hedge fund22:37 If gold goes to $700/oz, what would happen to Sandstorm?23:36 Sandstorm's valuation vs. its peers25:14 How Sandstorm will finance future growth26:37 Sandstorm's share structure28:20 Nolan's parting wisdom for mining investorsSign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: Gold Royalties is a Mining Stock Education sponsor therefore Mining Stock Education LLC has received compensation from Sandstorm.The content found on is for informational purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. It is based on opinions, SEC filings, current events, press releases and interviews but is not infallible. It may contain errors and offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on is to be used at your own risk. By reading, you agree to hold, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.