09:08 AM EST, 12/10/2024 (MT Newswires) -- Sandstorm Gold ( SAND ) 's shares rose 0.5% at last look in Nasdaq pre-market on Tuesday after giving an update on its revolving credit facility.

Sandstorm renewed its revolving credit agreement, allowing the company to borrow up to US$625 million. The amounts drawn on the facility are subject to interest at SOFR plus 1.75%-2.75% per annum, and the undrawn portion of the facility is subject to a standby fee of 0.39%-0.62% per annum. The revised interest rates above SOFR represents a 75-basis point reduction at the upper end and a reduction of 12.5 basis points at the lower end when compared to the previous credit agreement.

The company also said it signed an automatic share purchase plan with its designated broker to facilitate the purchase of its shares under its previously announced normal course issuer bid (NCIB) that runs until May 6, 2025.