05:02 PM EST, 11/27/2024 (MT Newswires) -- Sandstorm Gold ( SAND ) edged up in after-hours New York trading after the royalty company on Wednesday said the US Bureau of Land Management approved the Robertson mine project on Nov. 15.

The company said it holds a 1% to 2.25% sliding scale net smelter returns (NSR) royalty on the project and the latest approval is the final major federal permit needed under the National Environmental Protection Act.

Robertson, located in Nevada's Cortez District, is owned by Nevada Gold Mines, a joint venture between Barrick Gold ( GOLD ) and Newmont ( NEM ) .

Sandstorm also said SSR Mining ( SSRGF ) is progressing with engineering studies and site preparation at its Hod Maden project in Turkey, moving toward a construction decision. Sandstorm holds a 2% NSR royalty and a 20% gold stream on the project, the company said.

Entree Resources ( ERLFF ) began underground development work at Oyu Tolgoi Lift 1 Panel 1 in November on the Entree/Oyu Tolgoi joint venture property. This phase involves up to 212 meters of lateral development in the southwest corner of the Hugo North Extension (HNE). Sandstorm has a copper and precious metal stream agreement with Entree on the HNE, allowing the company to purchase a percentage of copper, gold, and silver produced.

Sandstorm shares were last seen up US$0.02 to US$5.85 after hours. They closed up $0.24 to $8.20 on the Toronto Stock Exchange.