Sandstorm Gold (SAND) 40-F29 Mar 182017 FY Annual report (Canada)Financial data

Company Profile

Document And Entity Information

Document And Entity Information	12 Months Ended
Document And Entity Information	Dec. 31, 2017shares
Document And Entity Information [Abstract]
Document Type	40-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Entity Registrant Name	SANDSTORM GOLD LTD
Entity Central Index Key	1,434,614
Trading Symbol	SAND
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding	182,685,502

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current
Cash and cash equivalents	$ 12,539	$ 21,434
Short-term investments	18,252
Trade receivables and other	7,568	6,663
Total current assets	38,359	28,097
Non-current assets:
Mineral, royalty and other interests	365,477	402,785
Hot Maden interest	177,452
Investments	60,630	61,293
Deferred income tax assets	13,581	16,934
Exploration assets	2,599
Deferred financing costs and other long term assets	2,817	2,416
Loan receivable, principal		23,357
Total assets	660,915	534,882
Current
Trade and other payables	6,438	4,289
Noncurrent liabilities
Deferred income tax liabilities	2,807	3,288
Total non-current liabilities	2,807	3,288
Total liabilities	9,245	7,577
Equity
Share capital	693,880	573,085
Reserves	23,659	23,915
Deficit	(25,135)	(35,672)
Accumulated other comprehensive loss	(40,734)	(34,023)
Total equity	651,670	527,305
Total liabilities and equity	$ 660,915	$ 534,882

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Consolidated Statements of Income (Loss) [abstract]
Sales		$ 49,208	$ 41,634
Royalty revenue		19,067	20,737
Total revenue		68,275	62,371
Cost of sales excluding depletion		15,321	12,834
Depletion		29,580	27,654
Total cost of sales		44,901	40,488
Gross Profit		23,374	21,883
Expenses and other (income)
Administration expenses	[1]	6,736	5,031
Project evaluation	[1]	4,564	5,064
Foreign exchange (gain) loss		(2,434)	87
(Gain) on revaluation of investments		(5,827)	(22,093)
Finance income		(722)	(2,598)
Finance expense		2,187	2,993
Mineral, royalty and other interests impairments		9,104	2,507
(Gain) loss on mineral interest disposal and other		(4,848)	1,107
Income before taxes		14,614	29,785
Current income tax expense		868	306
Deferred income tax expense		3,209	4,225
Total tax expense (income)		4,077	4,531
Net income for the year		$ 10,537	$ 25,254
Earnings per share
Basic earnings per share		$ 0.06	$ 0.18
Diluted earnings per share		$ 0.06	$ 0.17
Weighted average number of common shares outstanding
Basic		167,265,059	144,159,678
Diluted		174,703,186	149,961,923

[1]	Equity settled stock based compensation (a non-cash item) is included in administration expenses and project evaluation for the year ended December 31, 2017 $3,785 and December 31, 2016 $3,106.

Consolidated Statements of Inc4

Consolidated Statements of Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statements of Income (Loss) [abstract]
Equity settled stock based compensation (a non-cash item) is included in administration expenses and project evaluation	$ 3,785	$ 3,106

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Statement of comprehensive income [abstract]
Net income for the year	$ 10,537	$ 25,254
Items that may subsequently be re-classified to net income:
Currency translation differences	(15,205)	121
Items that will not subsequently be re-classified to net income:
Gain on FVTOCI investments	8,159	16,902
Tax recovery on FVTOCI investments	335	514
Total other comprehensive (loss) income for the year	(6,711)	17,537
Total comprehensive income for the year	$ 3,826	$ 42,791

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net income for the year	$ 10,537	$ 25,254
Items not affecting cash:
Depletion and depreciation and financing amortization	30,723	28,489
Mineral, royalty and other interests impairments	9,104	2,507
Deferred income tax expense	3,209	4,225
Share-based payments	3,785	3,106
(Gain) on revaluation of investments	(5,827)	(22,093)
Unrealized foreign exchange gain	(2,122)
Interest on loan receivable	(409)	(1,528)
(Gain) loss on mineral interest disposal and other	(5,024)	655
Changes in non-cash working capital	797	(1,624)
Cash flow from (used in) operating activities	44,773	38,991
Investing activities
Acquisition of Mariana Resources Limited	(48,299)
Proceeds from disposal of investments and other	14,352	12,774
Proceeds from disposal of mineral, royalty and other interests	3,600	5,617
Acquisition of mineral, royalty and other interests	(4,409)	(10,806)
Investment in Hot Maden interest	(584)
Acquisition of investments and other assets	(4,761)	(5,731)
Loan repayment		2,993
Loan issuance		(1,000)
Cash flow from (used in) investing activities	(40,101)	3,847
Financing activities
Redemption of common shares (normal course issuer bid)	(17,729)	(2,280)
Bank debt drawn	16,000	5,000
Bank debt repaid	(16,000)	(88,500)
Proceeds on exercise of warrants, options and other	2,605	5,455
Proceeds from issuance of common shares net of financing costs		53,453
Cash flow from (used in) financing activities	(15,124)	(26,872)
Effect of exchange rate changes on cash and cash equivalents	1,557	122
Net increase (decrease) in cash and cash equivalents	(8,895)	16,088
Cash and cash equivalents, beginning of year	21,434	5,346
Cash and cash equivalents, end of year	$ 12,539	$ 21,434

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity $ in Thousands	Share capital [member]USD ($)shares	Reserves Share Options and Restricted Share Rights [member]USD ($)	Reserve Share Purchase Warrants [member]USD ($)	Retained Earnings (deficit) [member]USD ($)	Accumulated Other Comprehensive Income (Loss) [member]USD ($)	USD ($)shares
Equity at beginning of period at Dec. 31, 2015	$ 491,769	$ 10,351	$ 13,017	$ (60,926)	$ (51,560)	$ 402,651
Equity, shares, beginning at Dec. 31, 2015 \| shares	128,880,314
Shares issued	$ 57,500					57,500
Shares issued, shares \| shares	12,921,400
Options exercised	$ 7,609	(2,199)				5,410
Options exercised, shares \| shares	1,516,402
Vesting of restricted share rights	$ 360	(360)
Vesting of restricted share rights, shares \| shares	79,858
Acquisition and cancellation of common shares (normal course issuer bid)	$ (2,280)					(2,280)
Acquisition and cancellation of common shares (normal course issuer bid), shares \| shares	(619,999)
Share issuance costs (net of deferred tax of $1.0 million)	$ (2,807)					(2,807)
Shares issued for acquisition of royalties and other	$ 20,934					20,934
Shares issued for acquisition of royalties and other, shares \| shares	9,153,307
Share based payments		3,106				3,106
Total comprehensive income				25,254	17,537	42,791
Equity at end of period at Dec. 31, 2016	$ 573,085	10,898	13,017	(35,672)	(34,023)	527,305
Equity, shares, ending at Dec. 31, 2016 \| shares	151,931,282
Options exercised	$ 3,127	(1,114)				2,013
Options exercised, shares \| shares	797,128
Warrants exercised	$ 3,911		(2,803)			1,108
Warrants exercised, shares \| shares	1,059,242
Vesting of restricted share rights	$ 1,035	(1,035)
Vesting of restricted share rights, shares \| shares	319,394
Expiration of unexercised warrants	$ 7,874		(7,874)
Acquisition and cancellation of common shares (normal course issuer bid)	$ (17,729)					$ (17,729)
Acquisition and cancellation of common shares (normal course issuer bid), shares \| shares	(4,106,772)					(4,106,772)
Issuance of Mariana Resources Ltd. replacement equity awards		3,207	5,578			$ 8,785
Financing costs and other	$ 8					8
Shares issued for acquisition of Mariana Resources Ltd.	$ 122,569					122,569
Shares issued for acquisition of Mariana Resources Ltd., shares \| shares	32,685,228
Share based payments		3,785				3,785
Total comprehensive income				10,537	(6,711)	3,826
Equity at end of period at Dec. 31, 2017	$ 693,880	$ 15,741	$ 7,918	$ (25,135)	$ (40,734)	$ 651,670
Equity, shares, ending at Dec. 31, 2017 \| shares	182,685,502

Consolidated Statements of Cha8

Consolidated Statements of Changes in Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statements of Changes in Equity [abstract]
Deferred tax relating to items charged directly to equity	$ 2	$ 986

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
NATURE OF OPERATIONS	Dec. 31, 2017
NATURE OF OPERATIONS [Abstract]
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS Sandstorm Gold Ltd. was incorporated under the Business Corporations Act of British Columbia on March 23, 2007. Sandstorm Gold Ltd. and its subsidiary entities (collectively "Sandstorm", “Sandstorm Gold” or the "Company") is a resource-based company that seeks to acquire gold and other metals purchase agreements (“Gold Streams” or “Streams”) and royalties from companies that have advanced stage development projects or operating mines. In return for making an upfront payment to acquire a Gold Stream or royalty, Sandstorm receives the right to purchase, at a fixed price per unit or at a fixed percentage of the spot price , a percentage of a mine’s production for the life of the mine (in the case of a stream) or a portion of the revenue generated from the mine (in the case of a royalty). The head office, principal address and registered office of the Company are located at Suite 1400, 400 Burrard Street, Vancouver, British Columbia, V6C 3A6. These consolidated financial statements were authorized for issue by the Board of Directors of the Company on February 15, 2018.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). B. Basis of Presentation These consolidated financial statements have been prepared on a historical cost basis except for certain financial instruments, which are measured at fair value. The consolidated financial statements are presented in United States dollars, and all values are rounded to the nearest thousand except as otherwise indicated. C. Principles of Consolidation These consolidated financial statements include the accounts of the Company and its subsidiaries (all wholly owned) Sandstorm Gold (Barbados) Limited, Sandstorm Gold (Canada) Holdings Ltd., Bridgeport Gold Inc., Inversiones Mineras Australes Holdings (BVI) Inc., Inversiones Mineras Australes S.A., Premier Royalty U.S.A. Inc., SA Targeted Investing Corp., Sandstorm Metals & Energy (Canada) Holdings Ltd., Sandstorm Metals & Energy (Canada) Ltd., Sandstorm Metals & Energy (US) Inc., Mariana Resources Limited (Guernsey), Mariana Turkey Limited (Guernsey), and Mariana International Limited (Guernsey). Subsidiaries are fully consolidated from the date the Company obtains control, and continue to be consolidated until the date that control ceases. Control is achieved when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. All intercompany balances, transactions, revenues and expenses have been eliminated on consolidation. D. Business Combinations On the acquisition of a business, the acquisition method of accounting is used, whereby the purchase consideration is allocated to the identifiable assets and liabilities on the basis of fair value at the date of acquisition. Provisional fair values allocated at a reporting date are finalized as soon as the relevant information is available, within a period not to exceed twelve months from the acquisition date with retrospective restatement of the impact of adjustments to those provisional fair values effective as at the acquisition date. Incremental costs related to acquisitions are expensed as incurred. When the amount of purchase consideration is contingent on future events, the initial cost of the acquisition recorded includes an estimate of the fair value of the contingent amounts expected to be payable in the future. When the fair value of contingent consideration as at the date of acquisition is finalized before the purchase price allocation is finalized, the adjustment is allocated to the identifiable assets and liabilities acquired. Subsequent changes to the estimated fair value of contingent consideration are recorded in the Consolidated Statement of Income (Loss). When the cost of the acquisition exceeds the fair values of the identifiable net assets acquired, the difference is recorded as goodwill. If the fair value attributable to the Company’s share of the identifiable net assets exceeds the cost of acquisition, the difference is recognized as a gain in the Consolidated Statement of Income (Loss). Non-controlling interests represent the fair value of net assets in subsidiaries, as at the date of acquisition, which are not held by the Company and are presented in the equity section of the Consolidated Statement of Financial Position. E. Investment in Associate An associate is an entity over which the Company has significant influence, and is neither a subsidiary nor a joint arrangement. The Company has significant influence when it has the power to participate in the financial and operating policy decisions of the associate but does not have control or joint control over those policies. The Hot Maden interest on the Company’s Consolidated Statements of Financial Position represents an investment in an associate. The Company accounts for its investment in an associate using the equity method. Under the equity method, the Company’s investment in an associate is initially recognized at cost when acquired and subsequently increased or decreased to recognize the Company's share of net income and losses of the associate, after any adjustments necessary to give effect to uniform accounting policies, any other movement in the associate’s reserves, and for impairment losses after the initial recognition date. The Company's share of income and losses of associates is recognized in net income during the period. Dividends received from an associate are accounted for as a reduction in the carrying amount of the Company’s investment. F. Goodwill The Company allocates goodwill arising from business combinations to each cash-generating unit or group of cash-generating units that are expected to receive the benefits from the business combination. Irrespective of any indication of impairment, the recoverable amount of the cash-generating unit or group of cash-generating units to which goodwill has been allocated is tested annually for impairment and when there is an indication that the goodwill may be impaired. Any impairment is recognized as an expense immediately. Any impairment of goodwill is not subsequently reversed. G. Mineral, Royalty and Other Interests Mineral, royalty and other interests consist of acquired royalty interests and stream metal purchase agreements. These interests are recorded at cost and capitalized as tangible assets with finite lives. They are subsequently measured at cost less accumulated depletion and accumulated impairment losses, if any. Project evaluation costs that are not related to a specific agreement are expensed in the period incurred. Producing mineral, royalty and other interests are depleted using the units-of-production method over the life of the property to which the interest relates, which is estimated using available information of proven and probable reserves and the portion of resources expected to be classified as mineral reserves at the mine corresponding to the specific agreement. On acquisition of a mineral, royalty or other interest, an allocation of its fair value is attributed to the exploration potential of the interest and is recorded as an asset on the acquisition date. The value of the exploration potential is accounted for in accordance with IFRS 6, Exploration and Evaluation of Mineral Resources and is not depleted until such time as the technical feasibility and commercial viability have been established at which point the value of the asset is accounted for in accordance with IAS 16, Property, Plant and Equipment. H. Impairment of Mineral, Royalty and Other Interests Evaluation of the carrying values of each mineral property is undertaken when events or changes in circumstances indicate that the carrying values may not be recoverable. If any indication of impairment exists, the recoverable amount is estimated to determine the extent of any impairment loss. The recoverable amount is the higher of the fair value less costs of disposal and value in use. Estimated values in use are calculated using estimated production, sales prices, and a discount rate. Estimated production is determined using current reserves and the portion of resources expected to be classified as mineral reserves as well as exploration potential expected to be converted into resources. Estimated sales prices are determined by reference to an average of long-term metal price forecasts by analysts and management’s expectations. The discount rate is estimated using an average discount rate incorporating analyst views to value precious metal royalty companies. If it is determined that the recoverable amount is less than the carrying value then an impairment is recorded with a charge to net income (loss). An assessment is made at each reporting period if there is any indication that a previous impairment loss may no longer exist or has decreased. If indications are present, the carrying amount of the mineral interest is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount net of depletion that would have been determined had no impairment loss been recognized for the mineral interest in previous periods. I. Exploration Assets All costs incurred prior to obtaining the legal right to undertake exploration and evaluation activities on a project are expensed in the period incurred. Exploration and evaluation costs arising following the acquisition of an exploration licence are capitalised on a project-by-project basis. Costs incurred include appropriate technical and administrative overheads. Exploration assets are carried at historical cost less any impairment losses recognized. Exploration and evaluation activity includes geological and geophysical studies, exploratory drilling and sampling and resource development. Upon demonstration of the technical and commercial feasibility of a project and a development decision, any past exploration and evaluation costs related to that project are subject to an impairment test and are reclassified in accordance with IAS 16, Property Plant and Equipment. Management annually assesses exploration assets for impairment when facts and circumstances suggest that the carrying value of capitalized exploration costs may not be recoverable. J. Revenue Recognition Revenue comprises of revenue earned in the period from royalty and mineral stream interests. Revenue is measured at the fair value of the consideration received or receivable when management can reliably estimate the amount, pursuant to the terms of the royalty and/or stream agreements. In some instances, the Company will not have access to sufficient information to make a reasonable estimate of revenue and, accordingly, revenue recognition is deferred until management can make a reasonable estimate. Differences between estimates and actual amounts are adjusted and recorded in the period that the actual amounts are known. For royalty interests, revenue recognition generally occurs in the month of production from the royalty property. For stream agreements, revenue recognition occurs when the relevant commodity received from the stream operator is physically delivered and then sold by the Company to its third party customers. Under the terms of certain royalty agreements, revenue may be subject to adjustment upon final settlement of estimated metal prices, weights, and assays. Provisionally-priced revenues are initially recognized based on forward prices. Adjustments to revenue from metal prices are recorded at each reporting period and other adjustments are recorded on final settlement and are offset against revenue when incurred. K. Foreign Currency Translation The functional currency of the Company and its subsidiaries is the principal currency of the economic environment in which they operate. For the Company and its subsidiaries Sandstorm Gold (Barbados) Limited, Sandstorm Gold (Canada) Ltd., Bridgeport Gold Inc., Inversiones Mineras Australes Holdings (BVI) Inc., Premier Royalty U.S.A. Inc., SA Targeted Investing Corp., Sandstorm Metals & Energy (Canada) Holdings Ltd, Sandstorm Metals & Energy (Canada) Ltd. and Sandstorm Metals & Energy (US) Inc. the functional currency is the U.S. dollar. For Inversiones Mineras Australes S.A., the functional currency of this subsidiary is the Argentine Peso. To translate Inversiones Mineras Australes S.A. to the presentation currency of the U.S. dollar, all assets and liabilities are translated using the exchange rate as of the reporting date and all income and expenses are translated using the average exchange rates during the period. All resulting exchange differences are recognized in other comprehensive income (loss). For the Company’s Hot Maden Interest, the functional currency of this associate is the Turkish Lira. To translate the Hot Maden Interest to the presentation currency of the U.S. dollar, all assets and liabilities are translated using the exchange rate as of the reporting date and all income and expenses are translated using the average exchange rates during the period. All resulting exchange differences are recognized in other comprehensive income (loss). Transactions in foreign currencies are initially recorded in the entity’s functional currency as the rate on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the closing rate as at the reporting date. L. Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, trade receivables and other, short and long-term investments, loans receivable, and trade and other payables. All financial instruments are initially recorded at fair value and designated as follows: Cash and cash equivalents, trade receivables and other, and loans receivable are classified as financial assets at amortized cost and trade and other payables and bank debt are classified as financial liabilities at amortized cost. Both financial assets at amortized cost and financial liabilities at amortized cost are measured at amortized cost using the effective interest method. Investments in common shares are held for long-term strategic purposes and not for trading. Upon the adoption of IFRS 9, the Company made an irrevocable election to designate these investments as fair value through other comprehensive income (“FVTOCI”) in order to provide a more meaningful presentation based on management’s intention, rather than reflecting changes in fair value in net income. Such investments are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognized as a component of other comprehensive income under the classification of gain (loss) on revaluation of investments. Cumulative gains and losses are not subsequently reclassified to profit or loss. Investments in warrants and convertible debt instruments are classified as fair value through profit or loss (“FVTPL”). These warrants, and convertible debt instruments are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognized as a component of net income (loss) under the classification of gain (loss) on revaluation of investments. Transaction costs on initial recognition of financial instruments classified as FVTPL are expensed as incurred. Transaction costs incurred on initial recognition of financial instruments classified as loans and receivables, FVTOCI and other financial liabilities are recognized at their fair value amount and offset against the related loans and receivables or capitalized when appropriate. Financial assets are derecognized when the contractual rights to the cash flows from the asset expire. Financial liabilities are derecognized only when the Company’s obligations are discharged, cancelled or they expire. On derecognition, the difference between the carrying amount (measured at the date of derecognition) and the consideration received (including any new asset obtained less any new liability obtained) is recognized in profit or loss. M. Inventory When refined gold or the applicable commodity, under the Stream agreement, is delivered to the Company, it is recorded as inventory. The amount recognized as inventory includes both the cash payment and the related depletion associated with that commodity. N. Cash and Cash Equivalents Cash and cash equivalents include cash on account, demand deposits and money market investments with maturities from the date of acquisition of three months or less, which are readily convertible to known amounts of cash and are subject to insignificant changes in value. O. Income Taxes Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used are those that are substantively enacted at the reporting date. Deferred income taxes are provided using the liability method on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for accounting. The change in the net deferred income tax asset or liability is included in income except for deferred income tax relating to equity items which is recognized directly in equity. The income tax effects of differences in the periods when revenue and expenses are recognized in accordance with Company accounting practices, and the periods they are recognized for income tax purposes are reflected as deferred income tax assets or liabilities. Deferred income tax assets and liabilities are measured using the substantively enacted statutory income tax rates which are expected to apply to taxable income in the years in which the assets are realized or the liabilities settled. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available for utilization. Deferred income tax assets and liabilities are offset only if a legally enforceable right exists to offset current tax assets against liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on the same taxable entity and are intended to be settled on a net basis. The determination of current and deferred taxes requires interpretations of tax legislation, estimates of expected timing of reversal of deferred tax assets and liabilities, and estimates of future earnings. P. Share Capital and Share Purchase Warrants The proceeds from the issue of units are allocated between common shares and share purchase warrants (with an exercise price denominated in U.S. dollars) on a pro-rata basis based on relative fair values at the date of issuance. The fair value of common shares is based on the market closing price on the date the units are issued and the fair value of share purchase warrants is determined using the quoted market price or if the warrants are not traded, using the Black-Scholes Model (“BSM”) as of the date of issuance. Equity instruments issued to agents as financing costs are measured at their fair value at the date the services were provided. Upon exercise, the original consideration is reallocated from share purchase warrants reserve to issued share capital along with the associated exercise price. Original consideration associated with expired share purchase warrants is reallocated to issued share capital. Q. Earnings Per Share Basic earnings per share is computed by dividing the net income available to common shareholders by the weighted average number of common shares issued and outstanding during the period. Diluted earnings per share is calculated assuming that outstanding share options and share purchase warrants, with an average market price that exceeds the average exercise prices of the options and warrants for the year, are exercised and the proceeds are used to repurchase shares of the Company at the average market price of the common shares for the year. R. Share Based Payments The Company recognizes share based compensation expense for all share purchase options and restricted share rights (“RSRs”) awarded to employees, officers and directors based on the fair values of the share purchase options and RSRs at the date of grant. The fair values of share purchase options and RSRs at the date of grant are expensed over the vesting periods of the share purchase options and RSRs, respectively, with a corresponding increase to equity. The fair value of share purchase options is determined using the BSM with market related inputs as of the date of grant. Share purchase options with graded vesting schedules are accounted for as separate grants with different vesting periods and fair values. The fair value of RSRs is the market value of the underlying shares at the date of grant. At the end of each reporting period, the Company re-assesses its estimates of the number of awards that are expected to vest and recognizes the impact of any revisions to this estimate in the Consolidated Statement of Income (Loss). The BSM requires management to estimate the expected volatility and expected term of the equity instrument, the risk-free rate of return over the term, expected dividends, and the number of equity instruments expected to ultimately vest. Volatility is estimated using the historical stock price of the Company, the expected term is estimated using historical exercise data, and the number of equity instruments expected to vest is estimated using historical forfeiture data. S. Related Party Transactions Parties are considered related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered related if they are subject to common control or significant influence. A transaction is considered a related party transaction when there is a transfer of resources or obligations between related parties. T. Segment Reporting An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses. The Company’s operating segments are components of the Company’s business for which discrete financial information is available and which are reviewed regularly by the Company’s Chief Executive Officer to make decisions about resources to be allocated to the segment and assess its performance.

FUTURE CHANGES IN ACCOUNTING PO

FUTURE CHANGES IN ACCOUNTING POLICIES	12 Months Ended
FUTURE CHANGES IN ACCOUNTING POLICIES	Dec. 31, 2017
FUTURE CHANGES IN ACCOUNTING POLICIES [abstract]
FUTURE CHANGES IN ACCOUNTING POLICIES	3. FUTURE CHANGES IN ACCOUNTING POLICIES The IASB has issued the following new standard s but they are not yet effective. Pronouncements that are not applicable to the Company have been excluded from this note: IFRS 15 Revenue from Contracts with Customers— The final standard on revenue from contracts with customers was issued on May 28, 2014 and is effective for annual reporting periods beginning after January 1, 2018 for public entities. The Company has completed its assessment of the impact of the new standard on its future financial statements under the modified retrospective approach. The process has included a review of all material contracts as well as the nature and type of the various Streams and royalties that the Company holds. This assessment has also included identifying the contract with the customer, the separate performance obligations contained therein and the appropriate transaction price. The adoption of the new standard will not give rise to any material changes to the Company’s sub processes, IT controls or consolidated financial statements. In January 2016, the IASB issued IFRS 16 Leases, which requires lessees to recognize assets and liabilities for most leases. IFRS 16 becomes effective for annual periods beginning on or after January 1, 2019 and is to be applied retrospectively with early adoption permitted, provided IFRS 15 has been applied or is applied at the same date as IFRS 16. The new standard is not expected to have a material impact on the Company’s consolidated financial statements. .

KEY SOURCES OF ESTIMATION UNCER

KEY SOURCES OF ESTIMATION UNCERTAINTY AND CRITICAL ACCOUNTING JUDGMENTS	12 Months Ended
	Dec. 31, 2017
KEY SOURCES OF ESTIMATION UNCERTAINTY AND CRITICAL ACCOUNTING JUDGMENTS [Abstract]
KEY SOURCES OF ESTIMATION UNCERTAINTY AND CRITICAL ACCOUNTING JUDGMENTS	4. KEY SOURCES OF ESTIMATION UNCERTAINTY AND CRITICAL ACCOUNTING JUDGMENTS The preparation of the Company’s consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. However, actual outcomes can differ from these estimates. Information about significant areas of estimation uncertainty and judgments made by management in preparing the consolidated financial statements are described below. A. Attributable Reserve and Resource Estimates The Company’s business is the acquisition of Gold Streams, Streams, and royalties. Each mineral, royalty and other interest agreement has its own unique terms and judgement is required to assess the appropriate accounting treatment. Mineral, royalty and other interests are a significant class of assets of the Company, with a carrying value of $365.5 million at December 31, 2017 (2016 - $402.8 million). This amount represents the capitalized expenditures related to the acquisition of the mineral, royalty and other interests net of accumulated depletion and any impairments. The Company estimates the reserves and resources relating to each agreement. Reserves are estimates of the amount of minerals that can be economically and legally extracted from the mining properties at which the Company has purchase and royalty agreements, adjusted where applicable to reflect the Company’s percentage entitlement to minerals produced from such mines. The Company estimates its reserves and resources based on information compiled by appropriately qualified persons relating to the geological data on the size, depth and shape of the ore body, and requires complex geological judgments to interpret the data. The estimation of recoverable reserves is based upon factors such as estimates of foreign exchange rates, commodity prices, future capital requirements, and production costs along with geological assumptions and judgments made in estimating the size and grade of the ore body. Changes in the reserve or resource estimates may impact the carrying value of the Company’s mineral, royalty and other interests and depletion charges. The Company’s mineral and royalty interests are depleted on a units-of-production basis, with estimated recoverable reserves and resources being used to determine the depletion rate for each of the Company’s mineral and royalty interests. These calculations require the use of estimates and assumptions, including the amount of recoverable reserves and resources to be converted into reserves. Changes to depletion rates are accounted for prospectively. B. Investments In the normal course of operations, the Company invests in equity interests of other entities. In such circumstances, management considers whether the facts and circumstances pertaining to each such investment result in the Company obtaining control, joint control or significant influence over the investee entity. In some cases, the determination of whether or not the Company controls, jointly controls or significantly influences the investee entities requires the application of significant management judgment to consider individually and collectively such factors as:  The purpose and design of the investee entity.  The ability to exercise power, through substantive rights, over the activities of the investee entity that significantly affect its returns.  The size of the company’s equity ownership and voting rights, including potential voting rights.  The size and dispersion of other voting interests, including the existence of voting blocks.  Other investments in or relationships with the investee entity including, but not limited to, current or possible board representation, royalty and/or stream investments, loans and other types of financial support, material transactions with the investee entity, interchange of managerial personnel or consulting positions.  Other relevant and pertinent factors. If it is determined that the Company neither has control, joint control or significant influence over an investee entity, the Company accounts for the corresponding investment in equity interest at fair value through other comprehensive income as further described in note 2. C. Income Taxes The interpretation of existing tax laws or regulations in Canada, Barbados, the United States of America, Australia, Argentina, Chile, Turkey, Guernsey, Mexico or any of the countries in which the mining operations are located or to which shipments of gold are made requires the use of judgment. Differing interpretation of these laws or regulations could result in an increase in the Company’s taxes, or other governmental charges, duties or impositions. In addition, the recoverability of deferred income tax assets, including expected periods of reversal of temporary differences and expectations of future taxable income, are assessed by management at the end of each reporting period and adjusted, as necessary, on a prospective basis. Refer to note 12 for more information. D. Impairment of Assets Assessment of impairment of mineral, royalty and other interests requires the use of judgments, assumptions and estimates when assessing whether there are any indicators that could give rise to the requirement to conduct a formal impairment test as well as in the assessment of fair values. Under the Fair Value approach, the net present value (“NPV”) methodology is used. NPV is estimated by using a discount rate to calculate the present value of expected future cash flows. The discount rate is based on the Company’s weighted average cost of capital, adjusted for various risks. The expected future cash flows are management’s best estimates of expected future revenues and costs. Under each method, expected future revenues reflect the estimated future production for each mine at which the Company has a Gold Stream or royalty based on detailed life of mine plans received from each of the partners. Included in these forecasts is the production of mineral resources that do not currently qualify for inclusion in proven and probable ore reserves where there is a high degree of confidence in its economic extraction. This is consistent with the methodology that is used to measure value beyond proven and probable reserves when determining the fair value attributable to acquired mineral and royalty interests. Expected future revenues also reflect management’s estimated long term metal prices, which are determined based on current prices, forward pricing curves and forecasts of expected long-term metal prices prepared by analysts. These estimates often differ from current price levels, but are consistent with how a market participant would assess future long-term metal prices. Estimated future cash costs are fixed based on the terms of each Gold Stream, Stream, or royalty, as disclosed in note 16 to the financial statements. During the year ended December 31, 2017, the Company recorded an impairment charge of $9.1 million ( 2016 - $2.5 million). E. Asset Acquisition The assessment of whether an acquisition meets the definition of a business or whether assets are acquired is an area of key judgement. If deemed to be a business combination, applying the acquisition method to business combinations requires each identifiable asset and liability to be measured at its acquisition date fair value. The excess, if any, of the fair value of the consideration over the fair value of the net identifiable assets acquired is recognized as goodwill. The determination of the acquisition date fair values often requires management to make assumptions and estimates about future events. The assumptions and estimates with respect to determining the fair value of mineral, royalty and other interests generally requires a high degree of judgement, and include estimates of mineral reserves and resources acquired, future metal prices, discount rates and conversion of reserves and resources. Changes in any of the assumptions or estimates used in determining the fair value of acquired assets and liabilities could impact the amounts assigned to assets and liabilities. F. Functional Currency The functional currency for each of the Company’s subsidiaries and associates is the currency of the primary economic environment in which the entity operates. Determination of functional currency may involve certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions which determined the primary economic environment.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
FINANCIAL INSTRUMENTS	Dec. 31, 2017
FINANCIAL INSTRUMENTS [Abstract]
FINANCIAL INSTRUMENTS	5. FINANCIAL INSTRUMENTS A. Capital Risk Management The Company manages its capital such that it endeavors to continue as a going concern while maximizing the return to stakeholders through the optimization of the debt and equity balance. The capital structure of the Company consists of $651.7 million ( 2016 - $527.3 million) of equity attributable to common shareholders, comprising of issued capital (note 1 1 ), accumulated reserves and deficit. The Company was not subject to any externally imposed capital requirements with the exception of complying with certain covenants under the credit agreement governing bank debt. The Company is in compliance with the debt covenants described in note 10 as at December 31, 2017. B. Fair Value Estimation The fair value hierarchy establishes three levels to classify fair value measurements based upon the observability of significant inputs used in the valuation techniques. The three levels of the fair value hierarchy are described below: Level 1 \| Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Investments in common shares and warrants held that have direct listings on an exchange are classified as Level 1. Level 2 \| Quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liabilities. Investments in warrants and convertible debt instruments held that are not listed on an exchange are classified as Level 2. Level 3 \| Prices or valuation techniques that require inputs that are both significant to fair value measurement and unobservable (supported by little or no market activity). The following table sets forth the Company's financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as at December 31, 2017 and December 31, 2016. As required by IFRS 13, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. As at December 31 , 2017: In $000s Total Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Unobservable inputs (Level 3) Short-term investments Common shares held $ 3,252 $ 3,252 $ - $ - Convertible debt 15,000 - 15,000 - Long-term investments Common shares held $ 40,722 $ 40,722 $ - $ - Warrants 3,313 - 3,313 - Convertible debt 16,595 - 16,595 - $ 78,882 $ 43,974 $ 34,908 $ - As at December 31 , 2016: In $000s Total Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Unobservable inputs (Level 3) Long-term investments Common shares held $ 28,850 $ 28,850 $ - $ - Warrants 3,404 - 3,404 - Convertible debt 29,039 - 29,039 - $ 61,293 $ 28,850 $ 32,443 $ - The fair value of the Company's other financial instruments which include cash and cash equivalents, trade receivables and other, and trade and other payables approximate their carrying values at December 31, 2017. C. Credit Risk The Company’s credit risk is limited to cash and cash equivalents and trade receivables and other in the ordinary course of business. The Company’s trade receivables and other is subject to the credit risk of the counterparties who own and operate the mines underlying Sandstorm’s royalty portfolio. In order to mitigate its exposure to credit risk, the Company closely monitors its financial assets and maintains its cash deposits in several high-quality financial institutions. The Company’s convertible debenture due from Equinox Gold Corp. ("Equinox") is subject to Equinox’s credit risk and the Company’s ability to realize on its security. D. Currency Risk Financial instruments that impact the Company’s net income (loss) or other comprehensive income (loss) due to currency fluctuations include: cash and cash equivalents, trade receivables and other, investments and trade and other payables denominated in Canadian dollars. Based on the Company's Canadian dollar denominated monetary assets and monetary liabilities at December 31, 2017 a 10% increase (decrease) of the value of the Canadian dollar relative to the United States dollar would increase (decrease) net income by $0.5 million and other comprehensive income by $2.9 million, respectively. E. Liquidity Risk The Company has in place a planning and budgeting process to help determine the funds required to support the Company’s normal operating requirements on an ongoing basis. In managing liquidity risk, the Company takes into account the amount available under the Company’s Revolving Facility, anticipated cash flows from operating activities and its holding of cash and cash equivalents. As at December 31, 2017, the Company had cash and cash equivalents of $12.5 million (December 31, 2016 – $21.4 million). Sandstorm holds common shares, convertible debentures, and warrants of other companies with a combined fair market value as at December 31, 2017, of $78.9 million (December 31, 2016 – $61.3 million). The daily exchange traded volume of these shares, including the shares underlying the warrants, may not be sufficient for the Company to liquidate its position in a short period of time without potentially affecting the market value of the shares. F. Other Price Risk The C ompany is exposed to equity price risk as a result of holding investments in other mining companies. The Company does not actively trade these investments. The equity prices of long term investments are impacted by various underlying factors including commodity prices. Based on the Company's investments held as at December 31, 2017 a 10% increase (decrease) in the equity prices of these investments would increase (decrease) net income by $1.2 million and other comprehensive income by $2.4 million.

MINERAL ROYALTY AND OTHER INTER

MINERAL ROYALTY AND OTHER INTERESTS	12 Months Ended
MINERAL ROYALTY AND OTHER INTERESTS	Dec. 31, 2017
MINERAL, ROYALTY AND OTHER INTERESTS [abstract]
MINERAL, ROYALTY AND OTHER INTERESTS	6. MINERAL, ROYALTY AND OTHER INTERESTS A. Carrying Amount As of and for the year ended December 31, 2017: Cost Accumulated Depletion In $000s Opening Net Additions (disposals) Ending Opening Depletion 1 Depletion in Ending Inventory Impairment Ending Carrying Amount Aurizona, Brazil $ 11,033 $ - $ 11,033 $ 310 $ - $ - $ - $ 310 $ 10,723 Bachelor Lake, Canada 23,972 37 24,009 19,339 3,823 21 - 23,183 826 Black Fox, Canada 37,761 30 37,791 24,395 2,253 183 - 26,831 10,960 Chapada, Brazil 69,528 - 69,528 2,737 3,765 - - 6,502 63,026 Diavik, Canada 53,111 - 53,111 11,792 6,080 - - 17,872 35,239 Hot Maden, Turkey 5,818 - 5,818 - - - - - 5,818 Hugo North Extension and Heruga, Mongolia 35,351 - 35,351 - - - - - 35,351 Karma, Burkina Faso 26,289 - 26,289 2,619 2,913 671 - 6,203 20,086 Ming, Canada 20,068 2 20,070 8,585 185 276 - 9,046 11,024 Santa Elena, Mexico 23,342 - 23,342 19,308 992 166 - 20,466 2,876 Yamana silver stream, Argentina 74,234 2 74,236 1,427 2,253 - - 3,680 70,556 Other Royalties 2 222,097 2,596 224,693 115,492 5,896 - 9,104 130,492 94,201 Other 3 10,725 (1,264) 9,461 4,540 103 27 - 4,670 4,791 Total 4 $ 613,329 $ 1,403 $ 614,732 $ 210,544 $ 28,263 $ 1,344 $ 9,104 $ 249,255 $ 365,477 1) Depletion during the year in the Consolidated Statements of Income of $29.6 million is comprised of depletion expense for the year of $28.3 million, and $1.3 million from depletion in ending inventory as at December 31, 2016. 2) Includes Bracemac-McLeod, Coringa, Mt. Hamilton, Paul Isnard, Prairie Creek, Ann Mason, Gualcamayo, Emigrant Springs, Mine Waste Solutions, San Andres, Sao Francisco, Thunder Creek, the Early Gold Deposit, Hackett River, Lobo-Marte, Agi Dagi & Kirazli, Forrestania and other. 3) Includes Koricancha Stream and other. 4) Mineral, Royalty and Other Interests includes assets accounted for under IFRS 6 (Exploration and Evaluation) of $52.3 million and assets accounted for under IAS 16 (Property, Plant and Equipment) of $313.2 million. As of and for the year ended December 31, 2016: Cost Accumulated Depletion In $000s Opening Net Additions (disposals) Ending Opening Depletion Depletion in Ending Inventory Impairment Ending Carrying Amount Aurizona, Brazil $ 11,000 $ 33 $ 11,033 $ 310 $ - $ - $ - $ 310 $ 10,723 Bachelor Lake, Canada 22,671 1,301 23,972 14,678 4,411 250 - 19,339 4,633 Black Fox, Canada 37,758 3 37,761 22,117 2,011 267 - 24,395 13,366 Chapada, Brazil 69,520 8 69,528 - 2,737 - - 2,737 66,791 Diavik, Canada 53,111 - 53,111 6,273 5,519 - - 11,792 41,319 Hot Maden, Turkey 5,818 - 5,818 - - - - - 5,818 Hugo North Extension and Heruga, Mongolia 42,493 (7,142) 35,351 - - - - - 35,351 Karma, Burkina Faso 21,174 5,115 26,289 - 2,095 524 - 2,619 23,670 Ming, Canada 20,068 - 20,068 7,622 792 171 - 8,585 11,483 Santa Elena, Mexico 23,342 - 23,342 17,202 2,001 105 - 19,308 4,034 Yamana silver stream, Argentina 74,229 5 74,234 - 1,427 - - 1,427 72,807 Other Royalties 1 200,906 21,191 222,097 106,393 6,592 - 2,507 115,492 106,605 Other 2 11,339 (614) 10,725 4,471 69 - - 4,540 6,185 Total 3 $ 593,429 $ 19,900 $ 613,329 $ 179,066 $ 27,654 $ 1,317 $ 2,507 $ 210,544 $ 402,785 1) Includes Bracemac-McLeod, Coringa, Mt. Hamilton, Paul Isnard, Prairie Creek, Ann Mason, Serra Pelada, Gualcamayo, Emigrant Springs, Mine Waste Solutions, San Andres, Sao Francisco, Thunder Creek, Bomboré, the Early Gold Deposit, Hackett River, Lobo-Marte, Agi Dagi & Kirazli, Forrestania and others. 2) Includes Koricancha Stream and other. 3) Mineral, Royalty and Other Interests includes assets accounted for under IFRS 6 (Exploration and Evaluation) of $73.8 million and assets accounted for under IAS 16 (Property, Plant and Equipment) of $329.0 million. B. Significant Updates and Other Transactions During the year ended December 31, 2017: UPDATE \| Orezone On January 26, 2017, Orezone Gold Corporation exercised its option to repurchase the royalty on the Bomboré gold project for $3.6 million, representing a 20% premium to the original upfront payment. UPDATE \| Bachelor Lake Stream On September 29, 2017, the Company amended its Gold Stream with Metanor Resources Inc (“Metanor”). Beginning October 1, 2017, Sandstorm will purchase 20% of the gold produced from Metanor’s Bachelor Lake gold mine for a per ounce cash payment equal to the lesser of $500 and the then prevailing market price of gold, until 12,000 ounces of gold have been purchased by the Company at which time the Gold Stream will convert into a 3.9% net smelter returns royalty (“NSR”). As part of the amendment, Metanor has agreed it will sell a minimum of 1,500 ounces of gold to Sandstorm on a quarterly basis until the 12,000 ounce threshold has been reached. Under the previous Gold Stream, there were no requirements for minimum deliveries nor was there a subsequent conversion of the Gold Stream into a NSR. In consideration for entering into the amendment, Sandstorm received: o a 3.9% NSR on Metanor’s Barry project; and o $2.0 million in the common shares of Metanor. Metanor may elect to reduce the 3.9% NSR on the Bachelor Lake or Barry projects by making a $2.0 million payment to Sandstorm in each case (the “Purchase Option”). Upon exercising either of the Purchase Options, the respective Sandstorm NSR will decrease to 1.8% . In addition to the Gold Stream, Sandstorm has an already existing 1% NS R on the Bachelor Lake gold mine, which remains unaffected by the amendment. In connection with the partial disposition of the stream, the Company recognized a $3.0 million gain in other income during the year ended Dec ember 3 1 , 2017. C. Impairments During the year ended December 31, 2017: A reduction in the mineral resource estimate for the Coringa gold project announced during the period prompted the Company to evaluate the carrying value of its royalty investment . As a result of this review, the Company recorded an impairment charge of $4.5 million. The recoverable amount of $3.4 million was determined using a discounted cash flow model in estimating the fair value less costs of disposal. Key assumptions used in the cash flow forecast were: a 5 year mine life, a long term gold price of $1,300 and a 6% discount rate. As a result of an update to the production profile of the Emigrant Springs mine and the ounces expected from the area subject to the royalty, the Company re-evaluated the carrying value of its investment. Based on its review, the Company recorded an impairment charge of $4.6 million. The recoverable amount of $0.5 million was determined using a discounted cash flow model in estimating the fair value less costs of disposal. Key assumptions used in the cash flow forecast were: a 1 - 3 year mine life, a long term gold price of $1,300 and a 4% discount rate. During the year ended December 31, 2016: While assessing whether any indications of impairment exist for mineral properties, consideration is given to both external and internal sources of information. The lack of progress with respect to the advancement of some of the properties which Sandstorm holds royalties on within Sandstorm’s mineral interest portfolio, prompted the Company to evaluate its investment in these specific assets. As part of the assessment, the Company recorded an impairment charge of $1.4 million for the full balance of those royalties that were specifically identified as lacking significant progress. The recoverable amount of the assets, for impairment assessment purposes, was determined using the fair value less costs of disposal method and considered whether the mining operator had dropped certain mineral claims. Key assumptions used in the analysis to determine fair value included a liquidation scenario and management’s best estimates of the value of the underlying royalty assets. In addition to these impairments, the Company recorded an additional impairment charge of $1.1 million relating to other royalties within the Company’s royalty portfolio. This impairment charge was prompted by changes in the underlying operations of the assets including estimated production. The recoverable amount of the assets, for impairment assessment purposes, was determined using the fair value less costs of disposal method. Key assumptions used in the discounted cash flow analysis to determine fair value included a long term gold price of $1,300 and a 4% discount rate.

ACQUISITION OF MARIANA RESOURCE

ACQUISITION OF MARIANA RESOURCES LIMITED	12 Months Ended
ACQUISITION OF MARIANA RESOURCES LIMITED	Dec. 31, 2017
ACQUISITION OF MARIANA RESOURCES LIMITED [abstract]
ACQUISITION OF MARIANA RESOURCES LIMITED	7. ACQUISITION OF MARIANA RESOURCES LIMITED On July 3, 2017, Sandstorm completed its previously announced arrangement to acquire all the issued and ordinary shares of Mariana Resources Ltd. (that Sandstorm did not already own) (“Mariana”) (the “Arrangement”). Under the terms of the Arrangement and as consideration for the acquisition, the Company issued 32,685,228 common shares and paid an additional $47.3 million in cash. In addition, all outstanding stock options and warrant holders of Mariana received 0.3487 Sandstorm stock option or warrant for each Mariana stock option or warrant previously held. The transaction was accounted for as an asset acquisition, with the capitalized costs of $199.6 million being determined by reference to the fair value of the net assets acquired. As part of the transaction, the Company acquired a 30% net profits interest in the Hot Maden gold-copper project, located in the Artvin Province, northeastern Turkey (“Hot Maden” or “Hot Maden Interest” ). The project is operated and co-owned by a Turkish partner, Lidya Madencilik Sanayi ve Ticaret A.S. (“Lydia”), who owns the remaining interest in the project. On acquisition, the fair value ascribed to the net profits interest was $190.7 million. In determining the fair value of the Company’s interest in Hot Maden, a discounted cash flow model was utilized. Key assumptions used in the analysis were a 7% discount rate, a long term gold price of $1,300 and an estimated mine life of 12 - 14 years. The Company’s 30% net profits interest in Hot Maden represents an investment in an associate and is accounted for in accordance with IAS 28 - Investments in associates and joint ventures. Refer to note 8 for further information. In addition, the acquisition of Mariana included exploration properties in Côte d’Ivoire, Turkey, and Argentina. The fair value of $5.0 million ascribed to these assets was determined based on management’s best estimate of the recoverable value and took into consideration the exploration expenditures at the respective properties. Sandstorm intends on selling the exploration properties and expects to retain NSRs as well as equity in the eventual sale . As part of that process and during the year ended December 31, 2017, Sandstorm was able to dispose of a number of these properties in exchange for receiving NSRs and equity to be granted to Sandstorm in the future . The other assets acquired in the transaction included cash and other assets of approximately $5.0 million and accounts payable and accrued liabilities of approximately $1.1 million. Other key assumptions utilized in the fair value assessment of the replacement warrants and options included a risk-free annual interest rate of approximately 1% , an expected volatility of up to 30% and an expected average life of up to 1.6 years.

HOT MADEN INTEREST

HOT MADEN INTEREST	12 Months Ended
HOT MADEN INTEREST	Dec. 31, 2017
HOT MADEN INTEREST [abstract]
HOT MADEN INTEREST	8. HOT MADEN INTEREST On July 3, 2017, the Company acquired a 30% net profits interest in Artmin Madencilik Sanaya ve Ticaret A.S, incorporated in Turkey which owns and operates the Hot Maden project. This interest is accounted for using the equity method and its financial results are adjusted, where appropriate, to give effect to uniform accounting policies. As of December 31, 2017 the Company has committed to funding $4.3 million in expenditures in 2018 relating to the ongoing development and construction activities at the Hot Maden project. The following table summarizes the changes in the carrying amount of the Company’s Hot Maden interest: In $000s Year Ended December 31, 2017 Year Ended December 31, 2016 Beginning of Year $ - $ - Acquisition of Investment in Associate (note 7) 190,714 - Company’s share of net inco me (loss) of associate (28) - Capital i nvestment 584 - Currency translation adjustments (13,81 8) - End of Year $ 177,452 $ - Summarized financial information for the Company’s investment in associate, on a 100% basis and reflecting adjustments made by the Company, including fair value adjustments made at the time of acquisition and adjustments for differences in accounting policies is as follows: In $000s Period Ended 1 December 31, 2017 Year Ended December 31, 2016 Revenue $ - $ - Administra tion expenses (113) - Other i ncome 20 - Total net (loss) income (93) - Company’s share of net income (loss) of associate $ (28) $ - 1) Financial results presented above pertain to the period beginning July 3, 2017, the date of acquisition, to December 31, 2017. In $000s December 31, 2017 December 31, 2016 Current Assets $619 $ - Non-current Assets 591,343 - Total Assets $ 591,962 $ - Current Liabilities 456 - Non-current Liabilities - - Total Liabilities $ 456 $ - Net Assets 591,506 - Company’s share of net assets of associate $ 177,452 $ -

INVESTMENTS

INVESTMENTS	12 Months Ended
INVESTMENTS	Dec. 31, 2017
INVESTMENTS[Abstract]
INVESTMENTS	9 . INVESTMENTS As of and for the year ended December 31, 2017: Fair Value Net Additions Fair Value Fair Value In $000s Jan. 1, 2017 (Disposals) Transfers Adjustment Dec. 31, 2017 Short-term investments Common shares 1 $ - $ - $ 3,252 $ - $ 3,252 Convertible debt instruments 2 - - 15,000 - 15,000 Total short-term investments $ - $ - $ 18,252 $ - $ 18,252 Non-current investments Common shares 1 $ 28,850 $ 6,965 $ (3,252) $ 8,159 $ 40,722 Warrants 2 3,404 (1,979) - 1,888 3,313 Convertible debt instruments 2 29,039 (1,383) (15,000) 3,939 16,595 Total non-current investments $ 61,293 $ 3,603 $ (18,252) $ 13,986 $ 60,630 Total Investments $ 61,293 $ 3,603 $ - $ 13,986 $ 78,882 1) Fair value adjustment recorded within Other Comprehensive Income (loss) for the year . 2) Fair value adjustment recorded within Net Income (loss) for the year . In connection with a series of business transactions resulting in Equinox Gold Corp . ( “ Equinox ” ), Sandstorm was able to monetize a number of its historical debt and equity investments held in Equinox’s predecessor companies. On March 31, 2017, the term debt facility that was owed to Sandstorm, in the amount of $20 million plus accrued interest, was settled in the form of equity of Equinox. The Company recognized a gain of $1.8 million on the settlement of that debt. In addition, on January 3 , 2018, the Company closed its previously announced agreement to sell $18.3 million in debt and equity securities of Equinox to Mr. Ross Beaty, the new chairman of Equinox . The value of these debt and equity securities have been classified as short-term investments on the Company’s Consolidated Statement of Financial Position. As of and for the year ended December 31, 2016: Fair Value Net Additions Fair Value Fair Value In $000s Jan. 1, 2016 (Disposals) Transfers Adjustment Dec. 31, 2016 Common shares 1 $ 14,990 $ (3,042) $ - $ 16,902 $ 28,850 Warrants 2 35 (1,240) - 4,609 3,404 Convertible debt instruments 2 11,555 - - 17,484 29,039 Total Investments $ 26,580 $ (4,282) $ - $ 38,995 $ 61,293 1) Fair value adjustment recorded within Other Comprehensive Income (loss) for the year . 2) Fair value adjustment recorded within Net Income ( l oss) for the year .

REVOLVING FACILITY AND DEFERRED

REVOLVING FACILITY AND DEFERRED FINANCING COSTS	12 Months Ended
REVOLVING FACILITY AND DEFERRED FINANCING COSTS	Dec. 31, 2017
REVOLVING FACILITY AND DEFERRED FINANCING COSTS [abstract]
REVOLVING FACILITY AND DEFERRED FINANCING COSTS	10. REVOLVING FACILITY AND DEFERRED FINANCING COSTS On December 20, 2017, the Company amended its revolving credit agreement, allowing the Company to borrow up to $150 million (the “Revolving Facility”), for general corporate purposes, from a syndicate of banks including the Bank of Nova Scotia, Bank of Montreal, National Bank of Canada, Canadian Imperial Bank of Commerce and Royal Bank of Canada (the “Syndicate”). The term of the Revolving Facility is for four years and is extendable by mutual consent of Sandstorm and the Syndicate. The amounts drawn on the Revolving Facility are subject to interest at LIBOR plus 2.5% – 3.5% per annum, and the undrawn portion of the Revolving Facility is subject to a standby fee of 0.6% – 0.8% per annum, dependent on the Company’s leverage ratio. Under the credit agreement, the Company is required to maintain a leverage ratio of net debt divided by EBITDA (as defined in the credit facility agreement) of less than or equal to 3.50 :1.00 for each fiscal quarter. For any consecutive four fiscal quarters following a material permitted acquisition, the borrower shall maintain the leverage ratio of less than or equal to 4.00 :1.00. The Company is further required to maintain a tangible net worth greater than the aggregate of $136.8 million and 50% of positive net income for each fiscal quarter beginning with the fiscal quarter ended September 30, 2017. The Revolving Facility is secured against the Company’s assets, including the Company’s mineral , royalty and other interests and investments. As of December 31, 2017, the Company was in compliance with the covenants and the balance of the Revolving Facility was nil . Deferred financing costs are amortized on a straight-line basis over the term of the Revolving Facility. At December 31, 2017, deferred financing costs, net of accumulated amortization, was $2.3 million ( December 31, 2016 - $1.9 million).

SHARE CAPITAL AND RESERVES

SHARE CAPITAL AND RESERVES	12 Months Ended
SHARE CAPITAL AND RESERVES	Dec. 31, 2017
SHARE CAPITAL AND RESERVES [abstract]
SHARE CAPITAL AND RESERVES	11. SHARE CAPITAL AND RESERVES A. Shares Issued The Company is authorized to issue an unlimited number of common shares without par value. Under the Company’s normal course issuer bid (“NCIB”), the Company is able until April 4, 2018, to purchase up to 7,597,730 common shares. The NCIB provides the Company with the option to purchase its common shares from time to time. During the year ended December 31, 2017 and pursuant to the NCIB, the Company purchased and cancelled an aggregate of 4,106,772 common shares. B. Stock Options of the Company The Company has an incentive stock option plan (the “Option Plan”) whereby the Company may grant share options to eligible employees, officers, directors and consultants at an exercise price, expiry date, and vesting conditions to be determined by the Board of Directors. The maximum expiry date is five years from the grant date. All options are equity settled. The Option Plan permits the issuance of options which, together with the Company's other share compensation arrangements, may not exceed 8.5% of the Company’s issued common shares as at the date of the grant. During the year ended December 31, 2017, the Company issued 795,000 options with a weighted average exercise price of C $5.50 and a fair value of $1.1 million or $1.33 per option. The fair value of the options granted was determined using a Black-Scholes model using the following weighted average assumptions: grant date share price and exercise price of C $5.50 , expected volatility of 43% , risk-free interest rate of 1.64 % and expected life of 3 years. Expected volatility is determined by considering the trailing 3 year historic average share price volatility of the Company and similar companies in the same industry and business model. A summary of the Company’s options and the changes for the year are as follows: Note Number of Options Weighted Average Exercise Price (CAD$) Options outstanding at December 31, 2015 6,855,582 5.45 Granted 1,336,000 4.96 Exercised (1,516,402) (4.63) Expired unexercised (440,000) (6.35) Options outstanding at December 31, 2016 6,235,180 4.71 Mariana Resources Ltd. replacement options 1 7 2,078,248 3.41 Granted 795,000 5.50 Exercised (797,128) (3.23) Expired unexercised (584,983) (15.29) Options outstanding at December 31, 2017 7,726,317 3.79 1) Exercisable in GBP. Exercise price is translated to CAD using the year end exchange rate. The weighted-average share price at the time of exercise for the year ended December 31, 2017 was C$5.69 per share (C $7.16 – year ended December 31, 2016). The weighted average remaining contractual life of the options for the year ended December 31, 2017 was 2.82 years ( 3.35 years – year ended December 31, 2016). A summary of the Company’s share purchase options as of December 31, 2017 is as follows: Year of expiry Number outstanding Vested Exercise price per share (range) (CAD$) 1 Weighted average exercise price per share (CAD$) 1 2018 175,072 175,072 2.92 - 11.31 5.26 2019 3,478,439 3,478,439 1.46 - 6.03 2.79 2020 1,284,000 856,005 3.60 - 3.64 3.61 2021 1,405,740 515,079 2.65 - 4.96 4.65 2022 1,383,066 588,066 4.86 - 15.00 4.90 7,726,317 5,612,661 3.38 1) For options exercisable in GBP, exercise price is translated to CAD using the year end exchange rate. C. Share Purchase Warrants A summary of the Company’s warrants and the changes for the year are as follows: Note Number of Warrants Shares to be Issued Upon Exercise of the Warrants Warrants outstanding at December 31, 2015 29,307,173 29,307,173 Expired unexercised (1,256,662) (1,256,662) Exercised (4,111) (4,111) Warrants outstanding at December 31, 2016 28,046,400 28,046,400 Mariana Resources Ltd. replacement warrants 7 2,025,314 2,025,314 Exercised (1,059,242) (1,059,242) Expired unexercised (5,002,500) (5,002,500) Warrants outstanding at December 31, 2017 24,009,972 24,009,972 A summary of the Company’s warrants as of December 31, 2017 are as follows: Number outstanding Exercise price per share 1 Expiry Date 1,043,572 0.97 May 6, 2018 3,000,000 4.50 March 23, 2020 15,000,000 3.50 October 27, 2020 4,966,400 4.00 November 3, 2020 24,009,972 1) For warrants exercisable in GBP, exercise price is translated to USD using the year end exchange rate. D. Restricted Share Rights The Company has a restricted share plan (the “Restricted Share Plan”) whereby the Company may grant restricted share rights to eligible employees, officers, directors and consultants at an expiry date to be determined by the Board of Directors. Each restricted share right entitles the holder to receive a common share of the Company without any further consideration. The Restricted Share Plan permits the issuance of up to a maximum of 3,800,000 restricted share rights (“RSR s ”). During the year ended December 31, 2017, the Company granted 597,200 RSRs with a fair value of $2.6 million, a three year vesting term, and a weighted average grant date fair value of $4.30 per unit. As at December 31, 2017, the Company had 2,222,624 RSRs outstanding. E. Diluted Earnings Per Share Diluted earnings per share is calculated based on the following: Year Ended Year Ended In $000s (excluding share amounts) December 31, 2017 December 31, 2016 Net income for the year $ 10,537 $ 25,254 Basic weighted average number of shares 167,265,059 144,159,678 Basic earnings per share $ 0.06 $ 0.18 Effect of dilutive securities Stock options 2,217,597 1,903,699 Warrants 3,582,912 2,709,987 Restricted share rights 1,637,618 1,188,559 Diluted weighted average number of common shares 174,703,186 149,961,923 Diluted earnings per share $ 0.06 $ 0.17 The following table lists the number of stock options and warrants excluded from the computation of diluted earnings per share because the exercise prices exceeded the average market value of the common shares of C $5.55 during the year ended December 31, 2017 (December 31, 2016 — C $5.55 ) or because a performance obligation had not been met as at December 31, 2017. Year Ended Year Ended December 31, 2017 December 31, 2016 Stock Options 1,967,557 1,213,208 Warrants 6,412,664 8,064,894

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2017
INCOME TAXES [abstract]
INCOME TAXES	12. INCOME TAXES The income tax expense differs from the amount that would result from applying the federal and provincial income tax rate to the net income (loss) before income taxes. These differences result from the following items: Year Ended Year Ended In $000s December 31, 2017 December 31, 2016 Income before income taxes $ 14,614 $ 29,785 Canadian federal and provincial income tax rates 26.0% 26.0% Income tax expense based on the above rates $ 3,800 $ 7,744 Increase (decrease) due to: Non-deductible expenses and permanent differences $ 989 $ 815 Change in unrecognized temporary differences 1,146 (1,261) Non-taxable portion of capital gain or loss (1,801) (3,244) Change in future substantively enacted tax rate (84) - Other 27 477 Income tax expense $ 4,077 $ 4,531 The deferred tax assets and liabilities are shown below: In $000s As at December 31, 2017 As at December 31, 2016 Deferred Income Tax Assets » Non-capital losses $ 30,027 $ 31,410 » Share issue costs and other 1,966 1,906 » Mineral, royalty and other interests (18,412) (16,382) Total deferred income tax assets $ 13,581 $ 16,934 Deferred Income Tax Liabilities » Mineral, royalty and other interests $ (2,807) $ (3,288) Total deferred income tax liabilities $ (2,807) $ (3,288) Total deferred income tax asset, net $ 10,774 $ 13,646 Deferred tax assets and liabilities have been offset where they relate to income taxes levied by the same taxation authority and the Company has the legal right and intent to offset. Non-capital losses have been recognized as a deferred income tax asset to the extent there will be future taxable income against which the Company can utilize the benefit prior to their expiration. The Company recognized deferred tax assets in respect of tax losses as at December 31, 2017 of $111.2 million ( 2016: $120.8 million) as it is probable that there will be future taxable profits to recover the deferred tax assets. Movement in net deferred income taxes: Year Ended Year Ended In $000s December 31, 2017 December 31, 2016 Balance, beginning of the year $ 13,646 $ 16,371 Recognized in net income (loss) for the year (3,209) (4,225) Recognized in equity 2 986 Recognized in other comprehensive income (loss) for the year 335 514 Balance, end of year $ 10,774 $ 13,646 The Company has deductible unused tax losses, for which a deferred tax asset has been recognized, expiring as follows: In $000s Location Amount Expiration Non-capital loss carry-forwards Canada $ 111,212 2030 - 2036 The aggregate amount of deductible temporary differences associated with capital losses and other items, for which deferred income tax assets have not been recognized as at December 31, 2017 are $34.3 million ( 2016: $27.9 million). No deferred tax asset is recognized in respect of these items because it is not probable that future taxable capital gains or taxable income will be available against which the Company can utilize the benefit.

ADMINISTRATION EXPENSES

ADMINISTRATION EXPENSES	12 Months Ended
ADMINISTRATION EXPENSES	Dec. 31, 2017
ADMINISTRATION EXPENSES [abstract]
ADMINISTRATION EXPENSES	13. ADMINISTRATION EXPENSES The administration expenses for the Company are as follows: Year Ended Year Ended In $000s December 31, 2017 December 31, 2016 Corporate administration $ 1,742 $ 1,275 Employee benefits and salaries 1,921 1,570 Professional fees 801 819 Depreciation 108 231 Administration expenses before share based compensation $ 4,572 $ 3,895 Equity settled share based compensation (a non-cash expense) 2,164 1,136 Total administration expenses $ 6,736 $ 5,031

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
SUPPLEMENTAL CASH FLOW INFORMATION	Dec. 31, 2017
SUPPLEMENTAL CASH FLOW INFORMATION [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	14. SUPPLEMENTAL CASH FLOW INFORMATION Year Ended Year Ended In $000s December 31, 2017 December 31, 2016 Change in non-cash working capital: Trade receivables and other $ (602) $ (1,847) Trade and other payables 1,399 223 Net increase (decrease) in cash $ 797 $ (1,624) Significant non-cash transactions: Shares and replacement equity awards issued for Mariana acquisition $ 131,354 $ - Shares issued for acquisition of mineral, royalty and other interests - 20,892

KEY MANAGEMENT COMPENSATION

KEY MANAGEMENT COMPENSATION	12 Months Ended
KEY MANAGEMENT COMPENSATION	Dec. 31, 2017
Key Management Compensation [Abstract]
KEY MANAGEMENT COMPENSATION	15. KEY MANAGEMENT COMPENSATION The remuneration of directors and those persons having authority and responsibility for planning, directing and controlling activities of the Company are as follows: Year Ended Year Ended In $000s December 31, 2017 December 31, 2016 Employee salaries and benefits $ 2,340 $ 1,699 Share-based payments 2,569 2,041 Total key management compensation expense $ 4,909 $ 3,740

CONTRACTUAL OBLIGATIONS

CONTRACTUAL OBLIGATIONS	12 Months Ended
CONTRACTUAL OBLIGATIONS	Dec. 31, 2017
CONTRACTUAL OBLIGATIONS [Abstract]
CONTRACTUAL OBLIGATIONS	16. CONTRACTUAL OBLIGATIONS In connection with its commodity streams, the Company has committed to purchase the following: Stream % of Life of Mine Gold or Relevant Commodity 4,5 ,6,7,8,9 Per Ounce Cash Payment: lesser of amount below and the then prevailing market price of commodity (unless otherwise noted) 1, 2, 3 Bachelor Lake 20% $500 Black Fox 8% $531 Chapada 4.2% 30% of copper spot price Entrée 5.62% on Hugo North Extension and 4.26% on Heruga $220 Karma 26,875 ounces over 5 years and 1.625% thereafter 20% of gold spot price Ming 25% of the first 175,000 ounces of gold produced, and 12% thereafter $nil Santa Elena 20% $450 Yamana silver stream Varies 30% of silver spot price 1) Subject to an annual inflationary adjustment except for Ming. 2) For the Entrée Gold Stream, after approximately 8.6 million ounces of gold have been produced from the joint venture property, the price increases to $500 per gold ounce. 3) For the Entrée silver stream, percentage of life of mine is 5.62% on Hugo North Extension and 4.26% on Heruga which the Company can purchase for the lesser of the prevailing market price and $5 per ounce of silver until 40.3 million ounces of silver have been produced from the entire joint venture property. Thereafter, the purchase price will increase to the lesser of the prevailing market price and $10 per ounce of silver. 4) For the Entrée Gold and silver stream, percentage of life of mine is 5.62% on Hugo North Extension and 4.26% on Heruga if the minerals produced are contained below 560 metres in depth. 5) For the Entrée Gold and silver stream, percentage of life of mine is 8.43% on Hugo North Extension and 6.39% on Heruga if the minerals produced are contained above 560 metres in depth. 6) For the Entrée copper stream, the Company has committed to purchase an amount equal to 0.42% of the copper produced from the Hugo North Extension and Heruga deposits. If the minerals produced are contained above 560 metres in depth, then the commitment increases to 0.62% for both the Hugo North Extension and Heruga deposits. Sandstorm will make ongoing per pound cash payments equal to the lesser of $0.50 and the then prevailing market price of copper, until 9.1 billion pounds of copper have been produced from the entire joint venture property. Thereafter, the ongoing per pound payments will increase to the lesser of $1.10 and the then prevailing market price of copper. 7) For the Chapada copper stream, the Company has committed to purchase an amount equal to 4.2% of the copper produced (up to an annual maximum of 3.9 million pounds of copper) until Yamana has delivered 39 million pounds of copper to Sandstorm; then 3.0% of the copper produced until, on a cumulative basis, Yamana has delivered 50 million pounds of copper to Sandstorm; then 1.5% of the copper produced thereafter, for the life of the mine. If Cerro Moro has not achieved the Commencement of Production and Sandstorm has not received cumulative pre-tax cash flow equal to $70 million from the Yamana silver stream, then the First Chapada Delivery Threshold and the Second Chapada Delivery Threshold will cease to be in effect and Sandstorm will continue to purchase 4.2% of Chapada’s payable copper production (up to an annual maximum of 3.9 million pounds of copper), until such time as Sandstorm has received cumulative pre-tax cash flow equal to $70 million, or Cerro Moro has achieved the Commencement of Production. 8) Under the terms of the Yamana silver stream, Sandstorm has agreed to purchase an amount of silver from Cerro Moro equal to 20% of the silver produced (up to an annual maximum of 1.2 million ounces of silver), until Yamana has delivered to Sandstorm 7.0 million ounces of silver; then 9.0% of the silver produced thereafter. As part of the Yamana silver stream, through 2018, Sandstorm has also agreed to purchase an amount of silver from: (i) the Minera Florida mine in Chile equal to 38% of the silver produced (up to an annual maximum of 200,000 ounces of silver); and (ii) the Chapada mine in Brazil equal to 52% of the silver produced (up to an annual maximum of 100,000 ounces of silver). 9) For the Bachelor Lake G old St ream, the Company has committed to purchase 20% of gold produced until 12,000 ounces have been purchased.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	12 Months Ended
SEGMENTED INFORMATION	Dec. 31, 2017
SEGMENTED INFORMATION [abstract]
SEGMENTED INFORMATION	17. SEGMENTED INFORMATION The Company’s reportable operating segments, which are components of the Company’s business where separate financial information is available and which are evaluated on a regular basis by the Company’s Chief Executive Officer, who is the Company’s chief operating decision maker, for the purpose of assessing performance, are summarized in the tables below: For the year ended December 31, 2017 In $000s Product Sales Royalty revenue Cost of sales, excluding depletion Depletion Impairment of mineral, royalty and other interests (Gain) loss on disposal of mineral interest and other Income (loss) before taxes Cash flow from operating activities Bachelor Lake, Canada Gold $ 7,706 $ 379 $ 3,082 $ 4,074 $ - $ (2,952) $ 3,881 $ 5,030 Black Fox, Canada Gold 6,693 - 2,847 2,520 - - 1,326 3,953 Chapada, Brazil Copper 11,001 - 3,249 3,765 - - 3,987 7,753 Diavik, Canada Diamonds - 7,150 - 6,080 - - 1,070 6,781 Karma, Burkina Faso Gold 6,863 - 1,365 3,437 - - 2,061 5,489 Ming, Canada Gold 796 - - 356 - - 440 796 Santa Elena, Mexico Gold 11,570 - 3,485 1,098 - - 6,987 7,548 Yamana silver stream, Argentina Silver 4,252 - 1,267 2,253 - - 732 2,985 Other Royalties 1 Various - 11,538 - 5,894 9,104 (866) (2,594) 13,693 Other Gold 327 - 26 103 - 221 (23) 294 Total Segments $ 49,208 $ 19,067 $ 15,321 $ 29,580 $ 9,104 $ (3,597) $ 17,867 $ 54,322 Corporate: Administration & Project evaluation expenses - - - - - - (11,300) (7,408) Foreign exchange gain - - - - - - 2,434 - Gain on revaluation of investments - - - - - - 5,827 - Finance expense, net - - - - - - (1,465) (1,593) Other - - - - - (1,251) 1,251 (548) Total Corporate $ - $ - $ - $ - $ - $ (1,251) $ (3,253) $ (9,549) Consolidated $ 49,208 $ 19,067 $ 15,321 $ 29,580 $ 9,104 (4,848) $ 14,614 $ 44,773 1) Where a mineral interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and represents a royalty on gold, silver or other metal, the Royalty interest has been summarized under Other Royalties. Other Royalties includes royalty revenue from Bracemac-McLeod, Gualcamayo, Emigrant Springs, Mine Waste Solutions, San Andres, Thunder Creek, Copper Mountain, Forrestania and Sheerness. Includes royalty revenue from royalty interests located in Canada of $5.7 million, in the United States of $1.5 million, Argentina of $1.8 million, Honduras of $1.8 million and other of $0.7 million. Includes royalty revenue from Gold of $6.5 million, Copper of $1.5 million and Other Base Metals of $3.5 million. For the year ended December 31, 2016 In $000s Product Sales Royalty revenue Cost of sales, excluding depletion Depletion Impairment of mineral, royalty and other interests (Gain) loss on disposal of mineral interest and other Income (loss) before taxes Cash flow from operating activities Bachelor Lake, Canada Gold $ 8,721 $ 462 $ 3,494 $ 4,411 $ - $ - $ 1,278 $ 5,481 Black Fox, Canada Gold 5,617 - 2,354 2,011 - - 1,252 2,951 Chapada, Brazil Copper 6,075 - 1,843 2,737 - - 1,495 4,232 Diavik, Canada Diamonds - 5,856 - 5,519 - - 337 5,901 Karma, Burkina Faso Gold 4,272 - 860 2,095 - - 1,317 3,314 Ming, Canada Gold 2,025 - - 792 - - 1,233 2,025 Santa Elena, Mexico Gold 11,772 - 3,385 2,001 - - 6,386 8,460 Yamana silver stream, Argentina Silver 2,926 - 876 1,427 - - 623 2,050 Other Royalties 1 Various - 14,419 4 6,592 2,507 - 5,316 14,073 Other Gold 226 - 18 69 - - 139 208 Total Segments $ 41,634 $ 20,737 $ 12,834 $ 27,654 $ 2,507 $ - $ 19,376 $ 48,695 Corporate: Administration & Project evaluation expenses - - - - - - (10,095) (6,758) Foreign exchange loss - - - - - - (87) - Gain on revaluation of investments - - - - - - 22,093 - Finance expense, net - - - - - - (395) (2,388) Other - - - - - 1,107 (1,107) (558) Total Corporate $ - $ - $ - $ - $ - $ 1,107 $ 10,409 $ (9,704) Consolidated $ 41,634 $ 20,737 $ 12,834 $ 27,654 $ 2,507 1,107 $ 29,785 $ 38,991 1) Where a mineral interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and represents a royalty on gold, silver or other metal, the Royalty interest has been summarized under Other Royalties. Other Royalties includes royalty revenue from Bracemac-McLeod, Gualcamayo, Emigrant Springs, Mine Waste Solutions, San Andres, Thunder Creek, Copper Mountain, Forrestania and Sheerness. Includes royalty revenue from royalty interests located in Canada of $5.6 million, in the United States of $2.5 million, Argentina of $1.9 million, Honduras of $3.7 million and other of $0.7 million. Includes royalty revenue from Gold of $9.2 million, Copper of $2.5 million and Other Base Metals of $2.7 million. Total assets as of: In $000s December 31, 2017 December 31, 2016 Aurizona $ 10,723 $ 10,723 Bachelor Lake 1,124 5,268 Black Fox 11,350 13,946 Chapada 63,026 66,791 Diavik 36,739 42,450 Hot Maden 1 183,271 5,818 Hugo North Extension and Heruga 35,351 35,351 Karma 21,034 24,389 Ming 11,300 11,653 Santa Elena 3,693 4,345 Yamana silver stream 70,556 72,807 Other Royalties 2 96,131 108,844 Other 3 7,423 6,190 Total Segments $ 551,721 $ 408,575 Corporate: Cash 12,539 21,434 Investments 78,882 61,293 Deferred Tax Assets 13,581 16,934 Deferred Financing Costs and Other 4,192 3,289 Loan Receivable - 23,357 Total Corporate $ 109,194 $ 126,307 Consolidated $ 660,915 $ 534,882 1) Includes royalty interest of $5.8 million and investment in associate of $177.5 million in 2017. Includes $5.8 million royalty interest in 2016. 2) Where a mineral interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and represents a royalty on gold, silver or other metal, the Royalty interest has been summarized under Other Royalties. Includes Bracemac-McLeod, Coringa, Mt. Hamilton, Paul Isnard, Prairie Creek, Ann Mason, Gualcamayo, Emigrant Springs, Mine Waste Solutions, San Andres, Sao Francisco, Sao Vicente, Thunder Creek, Bomboré, Hackett River, Lobo-Marte, Agi Dagi & Kirazli and other. 3) Includes Koricancha Stream and other. Non-current assets by g eographical r egion as of: In $000s December 31, 2017 1 December 31, 2016 1 North America Canada $ 86,832 $ 99,728 USA 16,055 21,403 Mexico 2,874 4,033 South & Central America Argentina $ 94,166 $ 95,191 Brazil 77,113 85,410 French Guiana 5,154 5,153 Peru 6,434 4,899 Honduras 1,430 2,248 Chile 2,460 2,460 Paraguay - 1,264 Africa Burkina Faso $ 20,087 $ 26,807 South Africa 4,301 4,066 Cote D'Ivoire 400 - Botswana 1,017 - Asia & Australia Turkey $ 187,725 $ 10,260 Mongolia 36,589 36,589 Australia 2,891 3,274 Consolidated $ 545,528 $ 402,785 1) Includes Mineral, Royalty and Other Interests (Note 6), Investment in Associate (Note 8) and Exploration Asset s .

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2017
SUBSEQUENT EVENTS [abstract]
SUBSEQUENT EVENTS	18. SUBSEQUENT EVENTS On January 3, 2018, the Company completed its previously announced agreement to sell $18.3 million in debt and equity securities of Equinox Gold Corp. to Mr. Ross Beaty. The sale was conditional upon the closing of the announced business combination between Trek Mining Inc., NewCastle Gold Ltd. and Anfield Gold Corp . which occurred on December 22, 2017 . On January 17, 2018, the Company acquired a 2% NSR on the producing Houndé gold mine in Burkina Faso, owned and operated by Endeavour Mining Corporation. The royalty was acquired from Acacia Mining PLC for $45 million in cash and covers the Kari North and Kari South tenements.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [abstract]
Statement of Compliance	A. Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).
Basis of Presentation	B. Basis of Presentation These consolidated financial statements have been prepared on a historical cost basis except for certain financial instruments, which are measured at fair value. The consolidated financial statements are presented in United States dollars, and all values are rounded to the nearest thousand except as otherwise indicated.
Principles of Consolidation	C. Principles of Consolidation These consolidated financial statements include the accounts of the Company and its subsidiaries (all wholly owned) Sandstorm Gold (Barbados) Limited, Sandstorm Gold (Canada) Holdings Ltd., Bridgeport Gold Inc., Inversiones Mineras Australes Holdings (BVI) Inc., Inversiones Mineras Australes S.A., Premier Royalty U.S.A. Inc., SA Targeted Investing Corp., Sandstorm Metals & Energy (Canada) Holdings Ltd., Sandstorm Metals & Energy (Canada) Ltd., Sandstorm Metals & Energy (US) Inc., Mariana Resources Limited (Guernsey), Mariana Turkey Limited (Guernsey), and Mariana International Limited (Guernsey). Subsidiaries are fully consolidated from the date the Company obtains control, and continue to be consolidated until the date that control ceases. Control is achieved when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. All intercompany balances, transactions, revenues and expenses have been eliminated on consolidation.
Business Combinations	D. Business Combinations On the acquisition of a business, the acquisition method of accounting is used, whereby the purchase consideration is allocated to the identifiable assets and liabilities on the basis of fair value at the date of acquisition. Provisional fair values allocated at a reporting date are finalized as soon as the relevant information is available, within a period not to exceed twelve months from the acquisition date with retrospective restatement of the impact of adjustments to those provisional fair values effective as at the acquisition date. Incremental costs related to acquisitions are expensed as incurred. When the amount of purchase consideration is contingent on future events, the initial cost of the acquisition recorded includes an estimate of the fair value of the contingent amounts expected to be payable in the future. When the fair value of contingent consideration as at the date of acquisition is finalized before the purchase price allocation is finalized, the adjustment is allocated to the identifiable assets and liabilities acquired. Subsequent changes to the estimated fair value of contingent consideration are recorded in the Consolidated Statement of Income (Loss). When the cost of the acquisition exceeds the fair values of the identifiable net assets acquired, the difference is recorded as goodwill. If the fair value attributable to the Company’s share of the identifiable net assets exceeds the cost of acquisition, the difference is recognized as a gain in the Consolidated Statement of Income (Loss). Non-controlling interests represent the fair value of net assets in subsidiaries, as at the date of acquisition, which are not held by the Company and are presented in the equity section of the Consolidated Statement of Financial Position.
Investment in Associate	E. Investment in Associate An associate is an entity over which the Company has significant influence, and is neither a subsidiary nor a joint arrangement. The Company has significant influence when it has the power to participate in the financial and operating policy decisions of the associate but does not have control or joint control over those policies. The Hot Maden interest on the Company’s Consolidated Statements of Financial Position represents an investment in an associate. The Company accounts for its investment in an associate using the equity method. Under the equity method, the Company’s investment in an associate is initially recognized at cost when acquired and subsequently increased or decreased to recognize the Company's share of net income and losses of the associate, after any adjustments necessary to give effect to uniform accounting policies, any other movement in the associate’s reserves, and for impairment losses after the initial recognition date. The Company's share of income and losses of associates is recognized in net income during the period. Dividends received from an associate are accounted for as a reduction in the carrying amount of the Company’s investment.
Goodwill	F. Goodwill The Company allocates goodwill arising from business combinations to each cash-generating unit or group of cash-generating units that are expected to receive the benefits from the business combination. Irrespective of any indication of impairment, the recoverable amount of the cash-generating unit or group of cash-generating units to which goodwill has been allocated is tested annually for impairment and when there is an indication that the goodwill may be impaired. Any impairment is recognized as an expense immediately. Any impairment of goodwill is not subsequently reversed.
Mineral, royalty and other interests	G. Mineral, Royalty and Other Interests Mineral, royalty and other interests consist of acquired royalty interests and stream metal purchase agreements. These interests are recorded at cost and capitalized as tangible assets with finite lives. They are subsequently measured at cost less accumulated depletion and accumulated impairment losses, if any. Project evaluation costs that are not related to a specific agreement are expensed in the period incurred. Producing mineral, royalty and other interests are depleted using the units-of-production method over the life of the property to which the interest relates, which is estimated using available information of proven and probable reserves and the portion of resources expected to be classified as mineral reserves at the mine corresponding to the specific agreement. On acquisition of a mineral, royalty or other interest, an allocation of its fair value is attributed to the exploration potential of the interest and is recorded as an asset on the acquisition date. The value of the exploration potential is accounted for in accordance with IFRS 6, Exploration and Evaluation of Mineral Resources and is not depleted until such time as the technical feasibility and commercial viability have been established at which point the value of the asset is accounted for in accordance with IAS 16, Property, Plant and Equipment.
Impairment of Mineral, royalty and other interests	H. Impairment of Mineral, Royalty and Other Interests Evaluation of the carrying values of each mineral property is undertaken when events or changes in circumstances indicate that the carrying values may not be recoverable. If any indication of impairment exists, the recoverable amount is estimated to determine the extent of any impairment loss. The recoverable amount is the higher of the fair value less costs of disposal and value in use. Estimated values in use are calculated using estimated production, sales prices, and a discount rate. Estimated production is determined using current reserves and the portion of resources expected to be classified as mineral reserves as well as exploration potential expected to be converted into resources. Estimated sales prices are determined by reference to an average of long-term metal price forecasts by analysts and management’s expectations. The discount rate is estimated using an average discount rate incorporating analyst views to value precious metal royalty companies. If it is determined that the recoverable amount is less than the carrying value then an impairment is recorded with a charge to net income (loss). An assessment is made at each reporting period if there is any indication that a previous impairment loss may no longer exist or has decreased. If indications are present, the carrying amount of the mineral interest is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount net of depletion that would have been determined had no impairment loss been recognized for the mineral interest in previous periods.
Exploration Assets	I. Exploration Assets All costs incurred prior to obtaining the legal right to undertake exploration and evaluation activities on a project are expensed in the period incurred. Exploration and evaluation costs arising following the acquisition of an exploration licence are capitalised on a project-by-project basis. Costs incurred include appropriate technical and administrative overheads. Exploration assets are carried at historical cost less any impairment losses recognized. Exploration and evaluation activity includes geological and geophysical studies, exploratory drilling and sampling and resource development. Upon demonstration of the technical and commercial feasibility of a project and a development decision, any past exploration and evaluation costs related to that project are subject to an impairment test and are reclassified in accordance with IAS 16, Property Plant and Equipment. Management annually assesses exploration assets for impairment when facts and circumstances suggest that the carrying value of capitalized exploration costs may not be recoverable.
Revenue Recognition	J. Revenue Recognition Revenue comprises of revenue earned in the period from royalty and mineral stream interests. Revenue is measured at the fair value of the consideration received or receivable when management can reliably estimate the amount, pursuant to the terms of the royalty and/or stream agreements. In some instances, the Company will not have access to sufficient information to make a reasonable estimate of revenue and, accordingly, revenue recognition is deferred until management can make a reasonable estimate. Differences between estimates and actual amounts are adjusted and recorded in the period that the actual amounts are known. For royalty interests, revenue recognition generally occurs in the month of production from the royalty property. For stream agreements, revenue recognition occurs when the relevant commodity received from the stream operator is physically delivered and then sold by the Company to its third party customers. Under the terms of certain royalty agreements, revenue may be subject to adjustment upon final settlement of estimated metal prices, weights, and assays. Provisionally-priced revenues are initially recognized based on forward prices. Adjustments to revenue from metal prices are recorded at each reporting period and other adjustments are recorded on final settlement and are offset against revenue when incurred.
Foreign Currency Translation	K. Foreign Currency Translation The functional currency of the Company and its subsidiaries is the principal currency of the economic environment in which they operate. For the Company and its subsidiaries Sandstorm Gold (Barbados) Limited, Sandstorm Gold (Canada) Ltd., Bridgeport Gold Inc., Inversiones Mineras Australes Holdings (BVI) Inc., Premier Royalty U.S.A. Inc., SA Targeted Investing Corp., Sandstorm Metals & Energy (Canada) Holdings Ltd, Sandstorm Metals & Energy (Canada) Ltd. and Sandstorm Metals & Energy (US) Inc. the functional currency is the U.S. dollar. For Inversiones Mineras Australes S.A., the functional currency of this subsidiary is the Argentine Peso. To translate Inversiones Mineras Australes S.A. to the presentation currency of the U.S. dollar, all assets and liabilities are translated using the exchange rate as of the reporting date and all income and expenses are translated using the average exchange rates during the period. All resulting exchange differences are recognized in other comprehensive income (loss). For the Company’s Hot Maden Interest, the functional currency of this associate is the Turkish Lira. To translate the Hot Maden Interest to the presentation currency of the U.S. dollar, all assets and liabilities are translated using the exchange rate as of the reporting date and all income and expenses are translated using the average exchange rates during the period. All resulting exchange differences are recognized in other comprehensive income (loss). Transactions in foreign currencies are initially recorded in the entity’s functional currency as the rate on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the closing rate as at the reporting date.
Financial Instruments	L. Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, trade receivables and other, short and long-term investments, loans receivable, and trade and other payables. All financial instruments are initially recorded at fair value and designated as follows: Cash and cash equivalents, trade receivables and other, and loans receivable are classified as financial assets at amortized cost and trade and other payables and bank debt are classified as financial liabilities at amortized cost. Both financial assets at amortized cost and financial liabilities at amortized cost are measured at amortized cost using the effective interest method. Investments in common shares are held for long-term strategic purposes and not for trading. Upon the adoption of IFRS 9, the Company made an irrevocable election to designate these investments as fair value through other comprehensive income (“FVTOCI”) in order to provide a more meaningful presentation based on management’s intention, rather than reflecting changes in fair value in net income. Such investments are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognized as a component of other comprehensive income under the classification of gain (loss) on revaluation of investments. Cumulative gains and losses are not subsequently reclassified to profit or loss. Investments in warrants and convertible debt instruments are classified as fair value through profit or loss (“FVTPL”). These warrants, and convertible debt instruments are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognized as a component of net income (loss) under the classification of gain (loss) on revaluation of investments. Transaction costs on initial recognition of financial instruments classified as FVTPL are expensed as incurred. Transaction costs incurred on initial recognition of financial instruments classified as loans and receivables, FVTOCI and other financial liabilities are recognized at their fair value amount and offset against the related loans and receivables or capitalized when appropriate. Financial assets are derecognized when the contractual rights to the cash flows from the asset expire. Financial liabilities are derecognized only when the Company’s obligations are discharged, cancelled or they expire. On derecognition, the difference between the carrying amount (measured at the date of derecognition) and the consideration received (including any new asset obtained less any new liability obtained) is recognized in profit or loss.
Inventory	M. Inventory When refined gold or the applicable commodity, under the Stream agreement, is delivered to the Company, it is recorded as inventory. The amount recognized as inventory includes both the cash payment and the related depletion associated with that commodity.
Cash and Cash Equivalents	N. Cash and Cash Equivalents Cash and cash equivalents include cash on account, demand deposits and money market investments with maturities from the date of acquisition of three months or less, which are readily convertible to known amounts of cash and are subject to insignificant changes in value.
Income Taxes	O. Income Taxes Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used are those that are substantively enacted at the reporting date. Deferred income taxes are provided using the liability method on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for accounting. The change in the net deferred income tax asset or liability is included in income except for deferred income tax relating to equity items which is recognized directly in equity. The income tax effects of differences in the periods when revenue and expenses are recognized in accordance with Company accounting practices, and the periods they are recognized for income tax purposes are reflected as deferred income tax assets or liabilities. Deferred income tax assets and liabilities are measured using the substantively enacted statutory income tax rates which are expected to apply to taxable income in the years in which the assets are realized or the liabilities settled. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available for utilization. Deferred income tax assets and liabilities are offset only if a legally enforceable right exists to offset current tax assets against liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on the same taxable entity and are intended to be settled on a net basis. The determination of current and deferred taxes requires interpretations of tax legislation, estimates of expected timing of reversal of deferred tax assets and liabilities, and estimates of future earnings.
Share Capital and Share Purchase Warrants	P. Share Capital and Share Purchase Warrants The proceeds from the issue of units are allocated between common shares and share purchase warrants (with an exercise price denominated in U.S. dollars) on a pro-rata basis based on relative fair values at the date of issuance. The fair value of common shares is based on the market closing price on the date the units are issued and the fair value of share purchase warrants is determined using the quoted market price or if the warrants are not traded, using the Black-Scholes Model (“BSM”) as of the date of issuance. Equity instruments issued to agents as financing costs are measured at their fair value at the date the services were provided. Upon exercise, the original consideration is reallocated from share purchase warrants reserve to issued share capital along with the associated exercise price. Original consideration associated with expired share purchase warrants is reallocated to issued share capital.
Earnings Per Share	Q. Earnings Per Share Basic earnings per share is computed by dividing the net income available to common shareholders by the weighted average number of common shares issued and outstanding during the period. Diluted earnings per share is calculated assuming that outstanding share options and share purchase warrants, with an average market price that exceeds the average exercise prices of the options and warrants for the year, are exercised and the proceeds are used to repurchase shares of the Company at the average market price of the common shares for the year.
Share Based Payments	R. Share Based Payments The Company recognizes share based compensation expense for all share purchase options and restricted share rights (“RSRs”) awarded to employees, officers and directors based on the fair values of the share purchase options and RSRs at the date of grant. The fair values of share purchase options and RSRs at the date of grant are expensed over the vesting periods of the share purchase options and RSRs, respectively, with a corresponding increase to equity. The fair value of share purchase options is determined using the BSM with market related inputs as of the date of grant. Share purchase options with graded vesting schedules are accounted for as separate grants with different vesting periods and fair values. The fair value of RSRs is the market value of the underlying shares at the date of grant. At the end of each reporting period, the Company re-assesses its estimates of the number of awards that are expected to vest and recognizes the impact of any revisions to this estimate in the Consolidated Statement of Income (Loss). The BSM requires management to estimate the expected volatility and expected term of the equity instrument, the risk-free rate of return over the term, expected dividends, and the number of equity instruments expected to ultimately vest. Volatility is estimated using the historical stock price of the Company, the expected term is estimated using historical exercise data, and the number of equity instruments expected to vest is estimated using historical forfeiture data.
Related Party Transactions	S. Related Party Transactions Parties are considered related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered related if they are subject to common control or significant influence. A transaction is considered a related party transaction when there is a transfer of resources or obligations between related parties.
Segment Reporting	T. Segment Reporting An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses. The Company’s operating segments are components of the Company’s business for which discrete financial information is available and which are reviewed regularly by the Company’s Chief Executive Officer to make decisions about resources to be allocated to the segment and assess its performance.

FINANCIAL INSTRUMENTS (Table)

FINANCIAL INSTRUMENTS (Table)	12 Months Ended
FINANCIAL INSTRUMENTS (Table)	Dec. 31, 2017
FINANCIAL INSTRUMENTS [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table sets forth the Company's financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as at December 31, 2017 and December 31, 2016. As required by IFRS 13, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. As at December 31 , 2017: In $000s Total Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Unobservable inputs (Level 3) Short-term investments Common shares held $ 3,252 $ 3,252 $ - $ - Convertible debt 15,000 - 15,000 - Long-term investments Common shares held $ 40,722 $ 40,722 $ - $ - Warrants 3,313 - 3,313 - Convertible debt 16,595 - 16,595 - $ 78,882 $ 43,974 $ 34,908 $ - As at December 31 , 2016: In $000s Total Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Unobservable inputs (Level 3) Long-term investments Common shares held $ 28,850 $ 28,850 $ - $ - Warrants 3,404 - 3,404 - Convertible debt 29,039 - 29,039 - $ 61,293 $ 28,850 $ 32,443 $ -

MINERAL, ROYALTY AND OTHER INTE

MINERAL, ROYALTY AND OTHER INTERESTS (Tables)	12 Months Ended
MINERAL, ROYALTY AND OTHER INTERESTS (Tables)	Dec. 31, 2017
MINERAL, ROYALTY AND OTHER INTERESTS [abstract]
Carrying Amount related to Mineral, Royalty and Other Interests	As of and for the year ended December 31, 2017: Cost Accumulated Depletion In $000s Opening Net Additions (disposals) Ending Opening Depletion 1 Depletion in Ending Inventory Impairment Ending Carrying Amount Aurizona, Brazil $ 11,033 $ - $ 11,033 $ 310 $ - $ - $ - $ 310 $ 10,723 Bachelor Lake, Canada 23,972 37 24,009 19,339 3,823 21 - 23,183 826 Black Fox, Canada 37,761 30 37,791 24,395 2,253 183 - 26,831 10,960 Chapada, Brazil 69,528 - 69,528 2,737 3,765 - - 6,502 63,026 Diavik, Canada 53,111 - 53,111 11,792 6,080 - - 17,872 35,239 Hot Maden, Turkey 5,818 - 5,818 - - - - - 5,818 Hugo North Extension and Heruga, Mongolia 35,351 - 35,351 - - - - - 35,351 Karma, Burkina Faso 26,289 - 26,289 2,619 2,913 671 - 6,203 20,086 Ming, Canada 20,068 2 20,070 8,585 185 276 - 9,046 11,024 Santa Elena, Mexico 23,342 - 23,342 19,308 992 166 - 20,466 2,876 Yamana silver stream, Argentina 74,234 2 74,236 1,427 2,253 - - 3,680 70,556 Other Royalties 2 222,097 2,596 224,693 115,492 5,896 - 9,104 130,492 94,201 Other 3 10,725 (1,264) 9,461 4,540 103 27 - 4,670 4,791 Total 4 $ 613,329 $ 1,403 $ 614,732 $ 210,544 $ 28,263 $ 1,344 $ 9,104 $ 249,255 $ 365,477 1) Depletion during the year in the Consolidated Statements of Income of $29.6 million is comprised of depletion expense for the year of $28.3 million, and $1.3 million from depletion in ending inventory as at December 31, 2016. 2) Includes Bracemac-McLeod, Coringa, Mt. Hamilton, Paul Isnard, Prairie Creek, Ann Mason, Gualcamayo, Emigrant Springs, Mine Waste Solutions, San Andres, Sao Francisco, Thunder Creek, the Early Gold Deposit, Hackett River, Lobo-Marte, Agi Dagi & Kirazli, Forrestania and other. 3) Includes Koricancha Stream and other. 4) Mineral, Royalty and Other Interests includes assets accounted for under IFRS 6 (Exploration and Evaluation) of $52.3 million and assets accounted for under IAS 16 (Property, Plant and Equipment) of $313.2 million. As of and for the year ended December 31, 2016: Cost Accumulated Depletion In $000s Opening Net Additions (disposals) Ending Opening Depletion Depletion in Ending Inventory Impairment Ending Carrying Amount Aurizona, Brazil $ 11,000 $ 33 $ 11,033 $ 310 $ - $ - $ - $ 310 $ 10,723 Bachelor Lake, Canada 22,671 1,301 23,972 14,678 4,411 250 - 19,339 4,633 Black Fox, Canada 37,758 3 37,761 22,117 2,011 267 - 24,395 13,366 Chapada, Brazil 69,520 8 69,528 - 2,737 - - 2,737 66,791 Diavik, Canada 53,111 - 53,111 6,273 5,519 - - 11,792 41,319 Hot Maden, Turkey 5,818 - 5,818 - - - - - 5,818 Hugo North Extension and Heruga, Mongolia 42,493 (7,142) 35,351 - - - - - 35,351 Karma, Burkina Faso 21,174 5,115 26,289 - 2,095 524 - 2,619 23,670 Ming, Canada 20,068 - 20,068 7,622 792 171 - 8,585 11,483 Santa Elena, Mexico 23,342 - 23,342 17,202 2,001 105 - 19,308 4,034 Yamana silver stream, Argentina 74,229 5 74,234 - 1,427 - - 1,427 72,807 Other Royalties 1 200,906 21,191 222,097 106,393 6,592 - 2,507 115,492 106,605 Other 2 11,339 (614) 10,725 4,471 69 - - 4,540 6,185 Total 3 $ 593,429 $ 19,900 $ 613,329 $ 179,066 $ 27,654 $ 1,317 $ 2,507 $ 210,544 $ 402,785 1) Includes Bracemac-McLeod, Coringa, Mt. Hamilton, Paul Isnard, Prairie Creek, Ann Mason, Serra Pelada, Gualcamayo, Emigrant Springs, Mine Waste Solutions, San Andres, Sao Francisco, Thunder Creek, Bomboré, the Early Gold Deposit, Hackett River, Lobo-Marte, Agi Dagi & Kirazli, Forrestania and others. 2) Includes Koricancha Stream and other. 3) Mineral, Royalty and Other Interests includes assets accounted for under IFRS 6 (Exploration and Evaluation) of $73.8 million and assets accounted for under IAS 16 (Property, Plant and Equipment) of $329.0 million.

HOT MADEN INTEREST (Tables)

HOT MADEN INTEREST (Tables)	12 Months Ended
HOT MADEN INTEREST (Tables)	Dec. 31, 2017
HOT MADEN INTEREST [abstract]
Summarized Financial Information in Associate	The following table summarizes the changes in the carrying amount of the Company’s Hot Maden interest: In $000s Year Ended December 31, 2017 Year Ended December 31, 2016 Beginning of Year $ - $ - Acquisition of Investment in Associate (note 7) 190,714 - Company’s share of net inco me (loss) of associate (28) - Capital i nvestment 584 - Currency translation adjustments (13,81 8) - End of Year $ 177,452 $ - Summarized financial information for the Company’s investment in associate, on a 100% basis and reflecting adjustments made by the Company, including fair value adjustments made at the time of acquisition and adjustments for differences in accounting policies is as follows: In $000s Period Ended 1 December 31, 2017 Year Ended December 31, 2016 Revenue $ - $ - Administra tion expenses (113) - Other i ncome 20 - Total net (loss) income (93) - Company’s share of net income (loss) of associate $ (28) $ - 1) Financial results presented above pertain to the period beginning July 3, 2017, the date of acquisition, to December 31, 2017. In $000s December 31, 2017 December 31, 2016 Current Assets $619 $ - Non-current Assets 591,343 - Total Assets $ 591,962 $ - Current Liabilities 456 - Non-current Liabilities - - Total Liabilities $ 456 $ - Net Assets 591,506 - Company’s share of net assets of associate $ 177,452 $ -

INVESTMENTS (Table)

INVESTMENTS (Table)	12 Months Ended
INVESTMENTS (Table)	Dec. 31, 2017
INVESTMENTS[Abstract]
Disclosure of Detailed Information about Financial Instruments	As of and for the year ended December 31, 2017: Fair Value Net Additions Fair Value Fair Value In $000s Jan. 1, 2017 (Disposals) Transfers Adjustment Dec. 31, 2017 Short-term investments Common shares 1 $ - $ - $ 3,252 $ - $ 3,252 Convertible debt instruments 2 - - 15,000 - 15,000 Total short-term investments $ - $ - $ 18,252 $ - $ 18,252 Non-current investments Common shares 1 $ 28,850 $ 6,965 $ (3,252) $ 8,159 $ 40,722 Warrants 2 3,404 (1,979) - 1,888 3,313 Convertible debt instruments 2 29,039 (1,383) (15,000) 3,939 16,595 Total non-current investments $ 61,293 $ 3,603 $ (18,252) $ 13,986 $ 60,630 Total Investments $ 61,293 $ 3,603 $ - $ 13,986 $ 78,882 1) Fair value adjustment recorded within Other Comprehensive Income (loss) for the year . 2) Fair value adjustment recorded within Net Income (loss) for the year . In connection with a series of business transactions resulting in Equinox Gold Corp . ( “ Equinox ” ), Sandstorm was able to monetize a number of its historical debt and equity investments held in Equinox’s predecessor companies. On March 31, 2017, the term debt facility that was owed to Sandstorm, in the amount of $20 million plus accrued interest, was settled in the form of equity of Equinox. The Company recognized a gain of $1.8 million on the settlement of that debt. In addition, on January 3 , 2018, the Company closed its previously announced agreement to sell $18.3 million in debt and equity securities of Equinox to Mr. Ross Beaty, the new chairman of Equinox . The value of these debt and equity securities have been classified as short-term investments on the Company’s Consolidated Statement of Financial Position. As of and for the year ended December 31, 2016: Fair Value Net Additions Fair Value Fair Value In $000s Jan. 1, 2016 (Disposals) Transfers Adjustment Dec. 31, 2016 Common shares 1 $ 14,990 $ (3,042) $ - $ 16,902 $ 28,850 Warrants 2 35 (1,240) - 4,609 3,404 Convertible debt instruments 2 11,555 - - 17,484 29,039 Total Investments $ 26,580 $ (4,282) $ - $ 38,995 $ 61,293 1) Fair value adjustment recorded within Other Comprehensive Income (loss) for the year . 2) Fair value adjustment recorded within Net Income ( l oss) for the year .

SHARE CAPITAL AND RESERVES (Tab

SHARE CAPITAL AND RESERVES (Tables)	12 Months Ended
SHARE CAPITAL AND RESERVES (Tables)	Dec. 31, 2017
Disclosure of terms and conditions of share-based payment arrangement [line items]
Summary of the Company's Options and the Changes for the Year	A summary of the Company’s options and the changes for the year are as follows: Note Number of Options Weighted Average Exercise Price (CAD$) Options outstanding at December 31, 2015 6,855,582 5.45 Granted 1,336,000 4.96 Exercised (1,516,402) (4.63) Expired unexercised (440,000) (6.35) Options outstanding at December 31, 2016 6,235,180 4.71 Mariana Resources Ltd. replacement options 1 7 2,078,248 3.41 Granted 795,000 5.50 Exercised (797,128) (3.23) Expired unexercised (584,983) (15.29) Options outstanding at December 31, 2017 7,726,317 3.79 1) Exercisable in GBP. Exercise price is translated to CAD using the year end exchange rate.
Summary of Share Purchase Options and Exercise Price Ranges	A summary of the Company’s share purchase options as of December 31, 2017 is as follows: Year of expiry Number outstanding Vested Exercise price per share (range) (CAD$) 1 Weighted average exercise price per share (CAD$) 1 2018 175,072 175,072 2.92 - 11.31 5.26 2019 3,478,439 3,478,439 1.46 - 6.03 2.79 2020 1,284,000 856,005 3.60 - 3.64 3.61 2021 1,405,740 515,079 2.65 - 4.96 4.65 2022 1,383,066 588,066 4.86 - 15.00 4.90 7,726,317 5,612,661 3.38 1) For options exercisable in GBP, exercise price is translated to CAD using the year end exchange rate.
Diluted Earnings Per Share	Diluted earnings per share is calculated based on the following: Year Ended Year Ended In $000s (excluding share amounts) December 31, 2017 December 31, 2016 Net income for the year $ 10,537 $ 25,254 Basic weighted average number of shares 167,265,059 144,159,678 Basic earnings per share $ 0.06 $ 0.18 Effect of dilutive securities Stock options 2,217,597 1,903,699 Warrants 3,582,912 2,709,987 Restricted share rights 1,637,618 1,188,559 Diluted weighted average number of common shares 174,703,186 149,961,923 Diluted earnings per share $ 0.06 $ 0.17
Number of Stock Options, Warrants and RSRs Excluded from the Computation of Diluted Earnings per Share	The following table lists the number of stock options and warrants excluded from the computation of diluted earnings per share because the exercise prices exceeded the average market value of the common shares of C $5.55 during the year ended December 31, 2017 (December 31, 2016 — C $5.55 ) or because a performance obligation had not been met as at December 31, 2017. Year Ended Year Ended December 31, 2017 December 31, 2016 Stock Options 1,967,557 1,213,208 Warrants 6,412,664 8,064,894
Warrants [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Summary of the Company's Other Equity Instruments and the Changes for the Year	A summary of the Company’s warrants and the changes for the year are as follows: Note Number of Warrants Shares to be Issued Upon Exercise of the Warrants Warrants outstanding at December 31, 2015 29,307,173 29,307,173 Expired unexercised (1,256,662) (1,256,662) Exercised (4,111) (4,111) Warrants outstanding at December 31, 2016 28,046,400 28,046,400 Mariana Resources Ltd. replacement warrants 7 2,025,314 2,025,314 Exercised (1,059,242) (1,059,242) Expired unexercised (5,002,500) (5,002,500) Warrants outstanding at December 31, 2017 24,009,972 24,009,972 A summary of the Company’s warrants as of December 31, 2017 are as follows: Number outstanding Exercise price per share 1 Expiry Date 1,043,572 0.97 May 6, 2018 3,000,000 4.50 March 23, 2020 15,000,000 3.50 October 27, 2020 4,966,400 4.00 November 3, 2020 24,009,972 1) For warrants exercisable in GBP, exercise price is translated to USD using the year end exchange rate.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2017
INCOME TAXES [abstract]
Disclosure of Reconciliation of Accounting Profit Multiplied by Applicable Tax Rates to Income Tax Expense	These differences result from the following items: Year Ended Year Ended In $000s December 31, 2017 December 31, 2016 Income before income taxes $ 14,614 $ 29,785 Canadian federal and provincial income tax rates 26.0% 26.0% Income tax expense based on the above rates $ 3,800 $ 7,744 Increase (decrease) due to: Non-deductible expenses and permanent differences $ 989 $ 815 Change in unrecognized temporary differences 1,146 (1,261) Non-taxable portion of capital gain or loss (1,801) (3,244) Change in future substantively enacted tax rate (84) - Other 27 477 Income tax expense $ 4,077 $ 4,531
Deferred Tax Assets and Liabilities, Movement in Deferred Tax Assets and Unused Tax Losses	The deferred tax assets and liabilities are shown below: In $000s As at December 31, 2017 As at December 31, 2016 Deferred Income Tax Assets » Non-capital losses $ 30,027 $ 31,410 » Share issue costs and other 1,966 1,906 » Mineral, royalty and other interests (18,412) (16,382) Total deferred income tax assets $ 13,581 $ 16,934 Deferred Income Tax Liabilities » Mineral, royalty and other interests $ (2,807) $ (3,288) Total deferred income tax liabilities $ (2,807) $ (3,288) Total deferred income tax asset, net $ 10,774 $ 13,646 Deferred tax assets and liabilities have been offset where they relate to income taxes levied by the same taxation authority and the Company has the legal right and intent to offset. Non-capital losses have been recognized as a deferred income tax asset to the extent there will be future taxable income against which the Company can utilize the benefit prior to their expiration. The Company recognized deferred tax assets in respect of tax losses as at December 31, 2017 of $111.2 million ( 2016: $120.8 million) as it is probable that there will be future taxable profits to recover the deferred tax assets. Movement in net deferred income taxes: Year Ended Year Ended In $000s December 31, 2017 December 31, 2016 Balance, beginning of the year $ 13,646 $ 16,371 Recognized in net income (loss) for the year (3,209) (4,225) Recognized in equity 2 986 Recognized in other comprehensive income (loss) for the year 335 514 Balance, end of year $ 10,774 $ 13,646 The Company has deductible unused tax losses, for which a deferred tax asset has been recognized, expiring as follows: In $000s Location Amount Expiration Non-capital loss carry-forwards Canada $ 111,212 2030 - 2036

ADMINISTRATION EXPENSES (Tables

ADMINISTRATION EXPENSES (Tables)	12 Months Ended
ADMINISTRATION EXPENSES (Tables)	Dec. 31, 2017
ADMINISTRATION EXPENSES [abstract]
Schedule of Administration Expenses	The administration expenses for the Company are as follows: Year Ended Year Ended In $000s December 31, 2017 December 31, 2016 Corporate administration $ 1,742 $ 1,275 Employee benefits and salaries 1,921 1,570 Professional fees 801 819 Depreciation 108 231 Administration expenses before share based compensation $ 4,572 $ 3,895 Equity settled share based compensation (a non-cash expense) 2,164 1,136 Total administration expenses $ 6,736 $ 5,031

SUPPLEMENTAL CASH FLOW INFORM35

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	Dec. 31, 2017
SUPPLEMENTAL CASH FLOW INFORMATION [Abstract]
Supplemental Cash Flow Information	Year Ended Year Ended In $000s December 31, 2017 December 31, 2016 Change in non-cash working capital: Trade receivables and other $ (602) $ (1,847) Trade and other payables 1,399 223 Net increase (decrease) in cash $ 797 $ (1,624) Significant non-cash transactions: Shares and replacement equity awards issued for Mariana acquisition $ 131,354 $ - Shares issued for acquisition of mineral, royalty and other interests - 20,892

KEY MANAGEMENT COMPENSATION (Ta

KEY MANAGEMENT COMPENSATION (Tables)	12 Months Ended
KEY MANAGEMENT COMPENSATION (Tables)	Dec. 31, 2017
Key Management Compensation [Abstract]
Disclosure of Key Management Compensation	The remuneration of directors and those persons having authority and responsibility for planning, directing and controlling activities of the Company are as follows: Year Ended Year Ended In $000s December 31, 2017 December 31, 2016 Employee salaries and benefits $ 2,340 $ 1,699 Share-based payments 2,569 2,041 Total key management compensation expense $ 4,909 $ 3,740

CONTRACTUAL OBLIGATIONS (Tables

CONTRACTUAL OBLIGATIONS (Tables)	12 Months Ended
CONTRACTUAL OBLIGATIONS (Tables)	Dec. 31, 2017
CONTRACTUAL OBLIGATIONS [Abstract]
Schedule of Purchase Commitments in Connection with Commodity Streams	In connection with its commodity streams, the Company has committed to purchase the following: Stream % of Life of Mine Gold or Relevant Commodity 4,5 ,6,7,8,9 Per Ounce Cash Payment: lesser of amount below and the then prevailing market price of commodity (unless otherwise noted) 1, 2, 3 Bachelor Lake 20% $500 Black Fox 8% $531 Chapada 4.2% 30% of copper spot price Entrée 5.62% on Hugo North Extension and 4.26% on Heruga $220 Karma 26,875 ounces over 5 years and 1.625% thereafter 20% of gold spot price Ming 25% of the first 175,000 ounces of gold produced, and 12% thereafter $nil Santa Elena 20% $450 Yamana silver stream Varies 30% of silver spot price 1) Subject to an annual inflationary adjustment except for Ming. 2) For the Entrée Gold Stream, after approximately 8.6 million ounces of gold have been produced from the joint venture property, the price increases to $500 per gold ounce. 3) For the Entrée silver stream, percentage of life of mine is 5.62% on Hugo North Extension and 4.26% on Heruga which the Company can purchase for the lesser of the prevailing market price and $5 per ounce of silver until 40.3 million ounces of silver have been produced from the entire joint venture property. Thereafter, the purchase price will increase to the lesser of the prevailing market price and $10 per ounce of silver. 4) For the Entrée Gold and silver stream, percentage of life of mine is 5.62% on Hugo North Extension and 4.26% on Heruga if the minerals produced are contained below 560 metres in depth. 5) For the Entrée Gold and silver stream, percentage of life of mine is 8.43% on Hugo North Extension and 6.39% on Heruga if the minerals produced are contained above 560 metres in depth. 6) For the Entrée copper stream, the Company has committed to purchase an amount equal to 0.42% of the copper produced from the Hugo North Extension and Heruga deposits. If the minerals produced are contained above 560 metres in depth, then the commitment increases to 0.62% for both the Hugo North Extension and Heruga deposits. Sandstorm will make ongoing per pound cash payments equal to the lesser of $0.50 and the then prevailing market price of copper, until 9.1 billion pounds of copper have been produced from the entire joint venture property. Thereafter, the ongoing per pound payments will increase to the lesser of $1.10 and the then prevailing market price of copper. 7) For the Chapada copper stream, the Company has committed to purchase an amount equal to 4.2% of the copper produced (up to an annual maximum of 3.9 million pounds of copper) until Yamana has delivered 39 million pounds of copper to Sandstorm; then 3.0% of the copper produced until, on a cumulative basis, Yamana has delivered 50 million pounds of copper to Sandstorm; then 1.5% of the copper produced thereafter, for the life of the mine. If Cerro Moro has not achieved the Commencement of Production and Sandstorm has not received cumulative pre-tax cash flow equal to $70 million from the Yamana silver stream, then the First Chapada Delivery Threshold and the Second Chapada Delivery Threshold will cease to be in effect and Sandstorm will continue to purchase 4.2% of Chapada’s payable copper production (up to an annual maximum of 3.9 million pounds of copper), until such time as Sandstorm has received cumulative pre-tax cash flow equal to $70 million, or Cerro Moro has achieved the Commencement of Production. 8) Under the terms of the Yamana silver stream, Sandstorm has agreed to purchase an amount of silver from Cerro Moro equal to 20% of the silver produced (up to an annual maximum of 1.2 million ounces of silver), until Yamana has delivered to Sandstorm 7.0 million ounces of silver; then 9.0% of the silver produced thereafter. As part of the Yamana silver stream, through 2018, Sandstorm has also agreed to purchase an amount of silver from: (i) the Minera Florida mine in Chile equal to 38% of the silver produced (up to an annual maximum of 200,000 ounces of silver); and (ii) the Chapada mine in Brazil equal to 52% of the silver produced (up to an annual maximum of 100,000 ounces of silver). 9) For the Bachelor Lake G old St ream, the Company has committed to purchase 20% of gold produced until 12,000 ounces have been purchased.

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	12 Months Ended
SEGMENTED INFORMATION (Tables)	Dec. 31, 2017
SEGMENTED INFORMATION [abstract]
Schedule of Reportable Operating Segments	The Company’s reportable operating segments, which are components of the Company’s business where separate financial information is available and which are evaluated on a regular basis by the Company’s Chief Executive Officer, who is the Company’s chief operating decision maker, for the purpose of assessing performance, are summarized in the tables below: For the year ended December 31, 2017 In $000s Product Sales Royalty revenue Cost of sales, excluding depletion Depletion Impairment of mineral, royalty and other interests (Gain) loss on disposal of mineral interest and other Income (loss) before taxes Cash flow from operating activities Bachelor Lake, Canada Gold $ 7,706 $ 379 $ 3,082 $ 4,074 $ - $ (2,952) $ 3,881 $ 5,030 Black Fox, Canada Gold 6,693 - 2,847 2,520 - - 1,326 3,953 Chapada, Brazil Copper 11,001 - 3,249 3,765 - - 3,987 7,753 Diavik, Canada Diamonds - 7,150 - 6,080 - - 1,070 6,781 Karma, Burkina Faso Gold 6,863 - 1,365 3,437 - - 2,061 5,489 Ming, Canada Gold 796 - - 356 - - 440 796 Santa Elena, Mexico Gold 11,570 - 3,485 1,098 - - 6,987 7,548 Yamana silver stream, Argentina Silver 4,252 - 1,267 2,253 - - 732 2,985 Other Royalties 1 Various - 11,538 - 5,894 9,104 (866) (2,594) 13,693 Other Gold 327 - 26 103 - 221 (23) 294 Total Segments $ 49,208 $ 19,067 $ 15,321 $ 29,580 $ 9,104 $ (3,597) $ 17,867 $ 54,322 Corporate: Administration & Project evaluation expenses - - - - - - (11,300) (7,408) Foreign exchange gain - - - - - - 2,434 - Gain on revaluation of investments - - - - - - 5,827 - Finance expense, net - - - - - - (1,465) (1,593) Other - - - - - (1,251) 1,251 (548) Total Corporate $ - $ - $ - $ - $ - $ (1,251) $ (3,253) $ (9,549) Consolidated $ 49,208 $ 19,067 $ 15,321 $ 29,580 $ 9,104 (4,848) $ 14,614 $ 44,773 1) Where a mineral interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and represents a royalty on gold, silver or other metal, the Royalty interest has been summarized under Other Royalties. Other Royalties includes royalty revenue from Bracemac-McLeod, Gualcamayo, Emigrant Springs, Mine Waste Solutions, San Andres, Thunder Creek, Copper Mountain, Forrestania and Sheerness. Includes royalty revenue from royalty interests located in Canada of $5.7 million, in the United States of $1.5 million, Argentina of $1.8 million, Honduras of $1.8 million and other of $0.7 million. Includes royalty revenue from Gold of $6.5 million, Copper of $1.5 million and Other Base Metals of $3.5 million. For the year ended December 31, 2016 In $000s Product Sales Royalty revenue Cost of sales, excluding depletion Depletion Impairment of mineral, royalty and other interests (Gain) loss on disposal of mineral interest and other Income (loss) before taxes Cash flow from operating activities Bachelor Lake, Canada Gold $ 8,721 $ 462 $ 3,494 $ 4,411 $ - $ - $ 1,278 $ 5,481 Black Fox, Canada Gold 5,617 - 2,354 2,011 - - 1,252 2,951 Chapada, Brazil Copper 6,075 - 1,843 2,737 - - 1,495 4,232 Diavik, Canada Diamonds - 5,856 - 5,519 - - 337 5,901 Karma, Burkina Faso Gold 4,272 - 860 2,095 - - 1,317 3,314 Ming, Canada Gold 2,025 - - 792 - - 1,233 2,025 Santa Elena, Mexico Gold 11,772 - 3,385 2,001 - - 6,386 8,460 Yamana silver stream, Argentina Silver 2,926 - 876 1,427 - - 623 2,050 Other Royalties 1 Various - 14,419 4 6,592 2,507 - 5,316 14,073 Other Gold 226 - 18 69 - - 139 208 Total Segments $ 41,634 $ 20,737 $ 12,834 $ 27,654 $ 2,507 $ - $ 19,376 $ 48,695 Corporate: Administration & Project evaluation expenses - - - - - - (10,095) (6,758) Foreign exchange loss - - - - - - (87) - Gain on revaluation of investments - - - - - - 22,093 - Finance expense, net - - - - - - (395) (2,388) Other - - - - - 1,107 (1,107) (558) Total Corporate $ - $ - $ - $ - $ - $ 1,107 $ 10,409 $ (9,704) Consolidated $ 41,634 $ 20,737 $ 12,834 $ 27,654 $ 2,507 1,107 $ 29,785 $ 38,991 1) Where a mineral interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and represents a royalty on gold, silver or other metal, the Royalty interest has been summarized under Other Royalties. Other Royalties includes royalty revenue from Bracemac-McLeod, Gualcamayo, Emigrant Springs, Mine Waste Solutions, San Andres, Thunder Creek, Copper Mountain, Forrestania and Sheerness. Includes royalty revenue from royalty interests located in Canada of $5.6 million, in the United States of $2.5 million, Argentina of $1.9 million, Honduras of $3.7 million and other of $0.7 million. Includes royalty revenue from Gold of $9.2 million, Copper of $2.5 million and Other Base Metals of $2.7 million.
Schedule of Assets by Segments	Total assets as of: In $000s December 31, 2017 December 31, 2016 Aurizona $ 10,723 $ 10,723 Bachelor Lake 1,124 5,268 Black Fox 11,350 13,946 Chapada 63,026 66,791 Diavik 36,739 42,450 Hot Maden 1 183,271 5,818 Hugo North Extension and Heruga 35,351 35,351 Karma 21,034 24,389 Ming 11,300 11,653 Santa Elena 3,693 4,345 Yamana silver stream 70,556 72,807 Other Royalties 2 96,131 108,844 Other 3 7,423 6,190 Total Segments $ 551,721 $ 408,575 Corporate: Cash 12,539 21,434 Investments 78,882 61,293 Deferred Tax Assets 13,581 16,934 Deferred Financing Costs and Other 4,192 3,289 Loan Receivable - 23,357 Total Corporate $ 109,194 $ 126,307 Consolidated $ 660,915 $ 534,882 1) Includes royalty interest of $5.8 million and investment in associate of $177.5 million in 2017. Includes $5.8 million royalty interest in 2016. 2) Where a mineral interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and represents a royalty on gold, silver or other metal, the Royalty interest has been summarized under Other Royalties. Includes Bracemac-McLeod, Coringa, Mt. Hamilton, Paul Isnard, Prairie Creek, Ann Mason, Gualcamayo, Emigrant Springs, Mine Waste Solutions, San Andres, Sao Francisco, Sao Vicente, Thunder Creek, Bomboré, Hackett River, Lobo-Marte, Agi Dagi & Kirazli and other. 3) Includes Koricancha Stream and other. Non-current assets by g eographical r egion as of: In $000s December 31, 2017 1 December 31, 2016 1 North America Canada $ 86,832 $ 99,728 USA 16,055 21,403 Mexico 2,874 4,033 South & Central America Argentina $ 94,166 $ 95,191 Brazil 77,113 85,410 French Guiana 5,154 5,153 Peru 6,434 4,899 Honduras 1,430 2,248 Chile 2,460 2,460 Paraguay - 1,264 Africa Burkina Faso $ 20,087 $ 26,807 South Africa 4,301 4,066 Cote D'Ivoire 400 - Botswana 1,017 - Asia & Australia Turkey $ 187,725 $ 10,260 Mongolia 36,589 36,589 Australia 2,891 3,274 Consolidated $ 545,528 $ 402,785 1) Includes Mineral, Royalty and Other Interests (Note 6), Investment in Associate (Note 8) and Exploration Asset s .

KEY SOURCES OF ESTIMATION UNC39

KEY SOURCES OF ESTIMATION UNCERTAINTY AND CRITICAL ACCOUNTING JUDGMENTS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
KEY SOURCES OF ESTIMATION UNCERTAINTY AND CRITICAL ACCOUNTING JUDGMENTS [Abstract]
Mineral, royalty and other interests	$ 365,477	$ 402,785
Mineral, royalty and other interests impairments	$ 9,104	$ 2,507

FINANCIAL INSTRUMENTS (Narrativ

FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of nature and extent of risks arising from financial instruments [line items]
Equity	$ 651,670	$ 527,305	$ 402,651
Cash and cash equivalents	12,539	21,434	$ 5,346
Assets	$ 660,915	534,882
Currency risk [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Monetary assets and liabilities currency risk percentage change	10.00%
Monetary assets and liabilities currency risk changes increase (decrease) in net income	$ 500
Monetary assets and liabilities currency risk changes increase (decrease) in other comprehensive income	$ 2,900
Other price risk [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Long term investments percentage change threshold	10.00%
Long term investments fair value increase (decrease) potential in profit (loss)	$ 1,200
Long term investments fair value increase (decrease) potential in other comprehensive income (loss)	2,400
Recurring fair value measurement [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Assets	$ 78,882	$ 61,293

FINANCIAL INSTRUMENTS (Financia

FINANCIAL INSTRUMENTS (Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of fair value measurement of assets [line items]
Short-term investments	$ 18,252
Long-term investments	60,630	$ 61,293	$ 26,580
Total assets	660,915	534,882
Recurring fair value measurement [member]
Disclosure of fair value measurement of assets [line items]
Total assets	78,882	61,293
Recurring fair value measurement [member] \| Level 1 of fair value hierarchy [member]
Disclosure of fair value measurement of assets [line items]
Total assets	43,974	28,850
Recurring fair value measurement [member] \| Level 2 of fair value hierarchy [member]
Disclosure of fair value measurement of assets [line items]
Total assets	34,908	32,443
Recurring fair value measurement [member] \| Covertible Debt [member]
Disclosure of fair value measurement of assets [line items]
Short-term investments	15,000
Long-term investments	16,595	29,039
Recurring fair value measurement [member] \| Covertible Debt [member] \| Level 2 of fair value hierarchy [member]
Disclosure of fair value measurement of assets [line items]
Short-term investments	15,000
Long-term investments	16,595	29,039
Recurring fair value measurement [member] \| Warrants [member]
Disclosure of fair value measurement of assets [line items]
Long-term investments	3,313	3,404
Recurring fair value measurement [member] \| Warrants [member] \| Level 2 of fair value hierarchy [member]
Disclosure of fair value measurement of assets [line items]
Long-term investments	3,313	3,404
Recurring fair value measurement [member] \| Common Shares Held [member]
Disclosure of fair value measurement of assets [line items]
Short-term investments	3,252
Long-term investments	40,722	28,850
Recurring fair value measurement [member] \| Common Shares Held [member] \| Level 1 of fair value hierarchy [member]
Disclosure of fair value measurement of assets [line items]
Short-term investments	3,252
Long-term investments	$ 40,722	$ 28,850

MINERAL, ROYALTY AND OTHER IN42

MINERAL, ROYALTY AND OTHER INTERESTS (Narrative) (Details) $ in Thousands	Jan. 26, 2017USD ($)	Dec. 31, 2017USD ($)$ / item	Dec. 31, 2017USD ($)yr$ / item	Dec. 31, 2016USD ($)$ / item	Sep. 29, 2017USD ($)
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Proceeds from disposal of mineral, royalty and other interests			$ 3,600	$ 5,617
Acquisition of mineral, royalty and other interests			4,409	10,806
Impairment of mineral, royalty and other interests			$ 9,104	$ 2,507
Chapada Mine [member] \| Copper Commodity Type [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Percentage of life of mine gold or relevant commodity		4.20%	4.20%
Bombore [Member] \| Gold Commodity Type [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Proceeds from disposal of mineral, royalty and other interests	$ 3,600
Proceeds from sale of royalty interest percentage premium on original upfront payment	20.00%
Bachelor Lake [Member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Agreement election payment amount to reduce net smelter return percentage		$ 2,000
Other income			$ 3,000
Bachelor Lake [Member] \| Gold Commodity Type [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Percentage of life of mine gold or relevant commodity		20.00%	20.00%
Threshold, maximum measurement weight commodity, purchased		12,000	12,000
Net smelter return royalty percentage			1.00%
Net smelter return royalty percentage if agreement option exercised		1.80%
Metanor's Barry Project [member] \| Gold Commodity Type [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Net smelter return royalty percentage		3.90%
Coringa Project [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Fair value assumption used for life of mine, years \| yr			5
Description of key assumptions on which management has based determination of fair value less costs of disposal			The recoverable amount of $3.4 million was determined using a discounted cash flow model in estimating the fair value less costs of disposal. Key assumptions used in the cash flow forecast were: a 5 year mine life, a long term gold price of $1,300 and a 6% discount rate.
Fair value assumption commodity price used \| $ / item		1,300	1,300
Discount rate used in current measurement of fair value less costs of disposal		6.00%	6.00%
Impairment of mineral, royalty and other interests			$ 4,500
Recoverable amount of asset or cash-generating unit		$ 3,400	3,400
Other Royalties [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Discount rate used in current measurement of fair value less costs of disposal				4.00%
Impairment of mineral, royalty and other interests			$ 9,104	$ 2,507
Other Royalties [member] \| Gold Commodity Type [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Fair value assumption commodity price used \| $ / item				1,300
Other Royalties Lacking Significant Progress [Member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Impairment of mineral, royalty and other interests				$ 1,400
Other Royalties within Royalty Portfolio [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Impairment of mineral, royalty and other interests				$ 1,100
Emigrant Springs [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Description of key assumptions on which management has based determination of fair value less costs of disposal			The recoverable amount of $0.5 million was determined using a discounted cash flow model in estimating the fair value less costs of disposal. Key assumptions used in the cash flow forecast were: a 1 - 3 year mine life, a long term gold price of $1,300 and a 4% discount rate.
Fair value assumption commodity price used \| $ / item		1,300	1,300
Discount rate used in current measurement of fair value less costs of disposal		4.00%	4.00%
Impairment of mineral, royalty and other interests			$ 4,600
Recoverable amount of asset or cash-generating unit		$ 500	$ 500
Metanor Resources Incorporated [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Fair value of shares received					$ 2,000
Bottom of range [member] \| Emigrant Springs [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Fair value assumption used for life of mine, years \| yr			1
Top of range [member] \| Emigrant Springs [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Fair value assumption used for life of mine, years \| yr			3
After 12,000 Ounces [member] \| Bachelor Lake [Member] \| Gold Commodity Type [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Net smelter return royalty percentage		3.90%
Before 12,000 Ounces [member] \| Bachelor Lake [Member] \| Gold Commodity Type [member]
Disclosure Of Property Plant And Equipment And Exploration And Evaluation [line items]
Commodity purchase quantity per quarter		1,500

MINERAL, ROYALTY AND OTHER IN43

MINERAL, ROYALTY AND OTHER INTERESTS (Carrying Amount related to Mineral, Royalty and Other Interests) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	$ 613,329	$ 593,429
Net Additions (disposals)	1,403	19,900
Ending Cost	614,732	613,329
Opening Accumulated Depletion	210,544	179,066
Depletion	29,580	27,654
Depletion in Ending Inventory	1,344	1,317
Impairment of mineral, royalty and other interests	9,104	2,507
Ending Accumulated Depletion	249,255	210,544
Carrying Amount	365,477	402,785
Other Royalties [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	222,097	200,906
Net Additions (disposals)	2,596	21,191
Ending Cost	224,693	222,097
Opening Accumulated Depletion	115,492	106,393
Impairment of mineral, royalty and other interests	9,104	2,507
Ending Accumulated Depletion	130,492	115,492
Carrying Amount	94,201	106,605
Other [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	10,725	11,339
Net Additions (disposals)	(1,264)	(614)
Ending Cost	9,461	10,725
Opening Accumulated Depletion	4,540	4,471
Depletion in Ending Inventory	27
Ending Accumulated Depletion	4,670	4,540
Carrying Amount	4,791	6,185
CANADA \| Bachelor Lake [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	23,972	22,671
Net Additions (disposals)	37	1,301
Ending Cost	24,009	23,972
Opening Accumulated Depletion	19,339	14,678
Depletion in Ending Inventory	21	250
Ending Accumulated Depletion	23,183	19,339
Carrying Amount	826	4,633
CANADA \| Black Fox [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	37,761	37,758
Net Additions (disposals)	30	3
Ending Cost	37,791	37,761
Opening Accumulated Depletion	24,395	22,117
Depletion in Ending Inventory	183	267
Ending Accumulated Depletion	26,831	24,395
Carrying Amount	10,960	13,366
CANADA \| Diavik [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	53,111	53,111
Ending Cost	53,111	53,111
Opening Accumulated Depletion	11,792	6,273
Ending Accumulated Depletion	17,872	11,792
Carrying Amount	35,239	41,319
CANADA \| Ming [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	20,068	20,068
Net Additions (disposals)	2
Ending Cost	20,070	20,068
Opening Accumulated Depletion	8,585	7,622
Depletion in Ending Inventory	276	171
Ending Accumulated Depletion	9,046	8,585
Carrying Amount	11,024	11,483
BRAZIL \| Aurizona [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	11,033	11,000
Net Additions (disposals)		33
Ending Cost	11,033	11,033
Opening Accumulated Depletion	310	310
Ending Accumulated Depletion	310	310
Carrying Amount	10,723	10,723
BRAZIL \| Chapada Mine [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	69,528	69,520
Net Additions (disposals)		8
Ending Cost	69,528	69,528
Opening Accumulated Depletion	2,737
Ending Accumulated Depletion	6,502	2,737
Carrying Amount	63,026	66,791
MONGOLIA \| Hugo North Extension and Heruga Gold Stream [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	35,351	42,493
Net Additions (disposals)		(7,142)
Ending Cost	35,351	35,351
Carrying Amount	35,351	35,351
BURKINA FASO \| Karma Gold [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	26,289	21,174
Net Additions (disposals)		5,115
Ending Cost	26,289	26,289
Opening Accumulated Depletion	2,619
Depletion in Ending Inventory	671	524
Ending Accumulated Depletion	6,203	2,619
Carrying Amount	20,086	23,670
TURKEY \| Hot Maden [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	5,818	5,818
Ending Cost	5,818	5,818
Carrying Amount	5,818	5,818
MEXICO \| Santa Elena [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	23,342	23,342
Ending Cost	23,342	23,342
Opening Accumulated Depletion	19,308	17,202
Depletion in Ending Inventory	166	105
Ending Accumulated Depletion	20,466	19,308
Carrying Amount	2,876	4,034
ARGENTINA \| Yamana Silver Stream [member]
Reconciliation of changes in property, plant and equipment [abstract]
Opening Cost	74,234	74,229
Net Additions (disposals)	2	5
Ending Cost	74,236	74,234
Opening Accumulated Depletion	1,427
Ending Accumulated Depletion	3,680	1,427
Carrying Amount	70,556	72,807
Current Period Depletion Expense [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	28,263	27,654
Current Period Depletion Expense [member] \| Other Royalties [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	5,896	6,592
Current Period Depletion Expense [member] \| Other [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	103	69
Current Period Depletion Expense [member] \| CANADA \| Bachelor Lake [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	3,823	4,411
Current Period Depletion Expense [member] \| CANADA \| Black Fox [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	2,253	2,011
Current Period Depletion Expense [member] \| CANADA \| Diavik [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	6,080	5,519
Current Period Depletion Expense [member] \| CANADA \| Ming [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	185	792
Current Period Depletion Expense [member] \| BRAZIL \| Chapada Mine [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	3,765	2,737
Current Period Depletion Expense [member] \| BURKINA FASO \| Karma Gold [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	2,913	2,095
Current Period Depletion Expense [member] \| MEXICO \| Santa Elena [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	992	2,001
Current Period Depletion Expense [member] \| ARGENTINA \| Yamana Silver Stream [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion	2,253	1,427
Current Period Depletion Expense From Prior Period Depletion In Ending Inventory [member]
Reconciliation of changes in property, plant and equipment [abstract]
Depletion in Ending Inventory		1,317
Mineral Streams Royalties And Other Interests Accounted For Under IFRS6 [member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying Amount	52,300	73,800
Property, plant and equipment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Carrying Amount	$ 313,200	$ 329,000

ACQUISITION OF MARIANA RESOUR44

ACQUISITION OF MARIANA RESOURCES LIMITED (Narrative) (Details) $ in Thousands	Jul. 03, 2017USD ($)yrshares$ / item	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Disclosure detailed information about asset acquisitions [line items]
Shares issued for acquisition of Mariana Resources Ltd., shares \| shares	32,685,228
Additional cash paid for acquisition of asset	$ 47,300
Share ratio of entity equity instruments transferred to acquiree shareholders	0.3487
Fair value of net assets acquired related to asset acquisition	$ 199,600
Investments in associates accounted for using equity method		$ 177,452
Exploration and Evaluation Assets	5,000	$ 2,599
Cash and other assets acquired	5,000
Current accounts payable and accrued liabilities acquired	$ 1,100
Fair value assumption for annual risk free interest rate on warrants and options	1.00%
Volatility rate assumption used in fair value of warrants and options	30.00%
Expected life assumption used in fair value of warrants and options	1 year 7 months 6 days
Hot Maden Associate [member]
Disclosure detailed information about asset acquisitions [line items]
Proportion of ownership interest in associate		30.00%
Investments in associates accounted for using equity method	$ 190,700	$ 177,452
Fair value assumption commodity price used \| $ / item	1,300
Fair value assumption discount rate used to value investment in associate	7.00%
Hot Maden Associate [member] \| Bottom of range [member]
Disclosure detailed information about asset acquisitions [line items]
Estimated useful life of mine assumption used to value investment in associate \| yr	12
Hot Maden Associate [member] \| Top of range [member]
Disclosure detailed information about asset acquisitions [line items]
Estimated useful life of mine assumption used to value investment in associate \| yr	14

HOT MADEN INTEREST (Narrative)

HOT MADEN INTEREST (Narrative) (Details) - Hot Maden Associate [member] $ in Millions	6 Months Ended
	Dec. 31, 2017USD ($)
Disclosure detailed information about asset acquisitions [line items]
Proportion of ownership interest in associate	30.00%
Capital commitment related to investment in associate	$ 4.3

HOT MADEN INTEREST (Summarized

HOT MADEN INTEREST (Summarized Financial Information in Associate Carrying Amount Rollforward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of associates [line items]
Currency translation adjustments	$ (15,205)	$ 121
At December 31, 2017	177,452
Hot Maden Associate [member]
Disclosure of associates [line items]
At January 1, 2017
Acquisition of Investment in Associate (note 7)	190,714
Company's share of net income (loss) of associate	(28)
Capital Investment	584
Currency translation adjustments	(13,818)
At December 31, 2017	$ 177,452

HOT MADEN INTEREST (Summarize47

HOT MADEN INTEREST (Summarized Financial Information in Associate 100% Basis and Adjustments) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Disclosure of associates [line items]
Revenue		$ 68,275	$ 62,371
Administrative expenses	[1]	(6,736)	(5,031)
Hot Maden Associate [member]
Disclosure of associates [line items]
Revenue
Administrative expenses		(113)
Other income		20
Total net loss		(93)
Company's share of net income (loss) of associate		$ (28)

[1]	Equity settled stock based compensation (a non-cash item) is included in administration expenses and project evaluation for the year ended December 31, 2017 $3,785 and December 31, 2016 $3,106.

HOT MADEN INTEREST (Summarize48

HOT MADEN INTEREST (Summarized Financial Information in Associate Balance Sheet Items) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Jul. 03, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of associates [line items]
Current Assets	$ 38,359		$ 28,097
Total assets	660,915		534,882
Non-current Liabilities	2,807		3,288
Total liabilities	9,245		7,577
Company's share of net assets of associate	177,452
Hot Maden Associate [member]
Disclosure of associates [line items]
Current Assets	619
Non-current assets	591,343
Total assets	591,962
Current Liabilities	456
Non-current Liabilities
Total liabilities	456
Net Assets	591,506
Company's share of net assets of associate	$ 177,452	$ 190,700

INVESTMENTS (Narrative) (Detail

INVESTMENTS (Narrative) (Details) - USD ($) $ in Thousands	Jan. 03, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Mar. 30, 2017
Investments with Investee Names [line items]
Loan receivable, principal				$ 23,357
Other gains (losses)			$ 4,848	(1,107)
Proceeds from disposal of investments and other			$ 14,352	$ 12,774
Other disposals of assets [member]
Investments with Investee Names [line items]
Proceeds from disposal of investments and other	$ 18,300
Equinox [member]
Investments with Investee Names [line items]
Loan receivable, principal					$ 20,000
Other gains (losses)		$ 1,800
Equinox [member] \| Other disposals of assets [member]
Investments with Investee Names [line items]
Proceeds from disposal of investments and other	$ 18,300

INVESTMENTS (Disclosure of Deta

INVESTMENTS (Disclosure of Detailed Information about Financial Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of financial assets [line items]
Non-current investments, beginning	$ 61,293	$ 26,580
Net Additions (Disposals)		(4,282)
Transfers in (out)
Fair Value Adjustment in Net Income (Loss)	5,827	22,093
Fair Value Adjustment in Other Comprehensive Income (Loss)	8,159	16,902
Fair Value Adjustment		38,995
Current investments, ending	18,252
Non-current investments, ending	60,630	61,293
Non-Current [Member]
Disclosure of financial assets [line items]
Non-current investments, beginning	61,293
Net Additions (Disposals)	3,603
Transfers in (out)	(18,252)
Fair Value Adjustment	13,986
Non-current investments, ending	60,630	61,293
Short-Term [Member]
Disclosure of financial assets [line items]
Transfers in (out)	18,252
Current investments, ending	18,252
Covertible Debt [member] \| Non-Current [Member]
Disclosure of financial assets [line items]
Non-current investments, beginning	29,039	11,555
Net Additions (Disposals)	(1,383)
Transfers in (out)	(15,000)
Fair Value Adjustment in Net Income (Loss)	3,939	17,484
Non-current investments, ending	16,595	29,039
Covertible Debt [member] \| Short-Term [Member]
Disclosure of financial assets [line items]
Transfers in (out)	15,000
Current investments, ending	15,000
Common Shares Held [member] \| Non-Current [Member]
Disclosure of financial assets [line items]
Non-current investments, beginning	28,850	14,990
Net Additions (Disposals)	6,965	(3,042)
Transfers in (out)	(3,252)
Fair Value Adjustment in Other Comprehensive Income (Loss)	8,159	16,902
Non-current investments, ending	40,722	28,850
Common Shares Held [member] \| Short-Term [Member]
Disclosure of financial assets [line items]
Transfers in (out)	3,252
Current investments, ending	3,252
Warrants [member] \| Non-Current [Member]
Disclosure of financial assets [line items]
Non-current investments, beginning	3,404	35
Net Additions (Disposals)	(1,979)	(1,240)
Transfers in (out)
Fair Value Adjustment in Net Income (Loss)	1,888	4,609
Non-current investments, ending	3,313	3,404
Equity Securities and Warrants and Debt Securities [member]
Disclosure of financial assets [line items]
Total investments at beginning of period	61,293
Net Additions (Disposals)	3,603
Fair Value Adjustment	13,986
Total investments at end of period	$ 78,882	$ 61,293

REVOLVING FACILITY AND DEFERR51

REVOLVING FACILITY AND DEFERRED FINANCING COSTS (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 20, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]
Deferred financing costs and other long term assets	$ 2,817,000		$ 2,416,000
Revolving Facility [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate basis	LIBOR
Borrowings required leverage ratio	3.50
Borrowings required leverage ratio under permitted acquisition	4
Borrowing covenants tangible net worth threshold	$ 136,800,000
Borrowings convenants positive net income percentage per quarter	50.00%
Borrowings	$ 0
Deferred financing costs and other long term assets	$ 2,300,000		$ 1,900,000
Revolving Facility [member] \| Bottom of range [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, adjustment to interest rate basis	2.50%
Revolving Facility [member] \| Top of range [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, adjustment to interest rate basis	3.50%
Revolving Facility [member] \| Floating interest rate [member]
Disclosure of detailed information about borrowings [line items]
Undrawn borrowing facilities		$ 150,000,000
Revolving Facility [member] \| Floating interest rate [member] \| Bottom of range [member]
Disclosure of detailed information about borrowings [line items]
Borrowings standby fee percentage	0.60%
Revolving Facility [member] \| Floating interest rate [member] \| Top of range [member]
Disclosure of detailed information about borrowings [line items]
Borrowings standby fee percentage	0.80%

SHARE CAPITAL AND RESERVES (Nar

SHARE CAPITAL AND RESERVES (Narrative) (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017CAD ($)yrshares$ / shares	Dec. 31, 2017USD ($)yr$ / sharesshares	Dec. 31, 2016CAD ($)yrshares$ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Treasury shares authorized to purchase		7,597,730
Cancellation of treasury shares	4,106,772
Maximum percentage share compensation arrangements relative to outstanding shares	8.50%
Average share price of entity \| $ / shares	$ 5.55		$ 5.55
Stock Option Incentive Plan [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted, options	795,000		1,336,000
Granted, options, weighted average exercise price \| $	$ 5.50		$ 4.96
Fair value of options issued \| $		$ 1.1
Fair value of option issued per option \| $ / shares		1.33
Fair value assumption used for grant date and exercise share price of issued options \| $	$ 5.50
Description of option pricing model, share options granted	Black-Scholes model
Expected volatility, share options granted	43.00%
Risk free interest rate, share options granted	1.64%
Maximum expiry date or expected life of options (years) \| yr	3
Maximum term of share options granted	5 years
Weighted average share price at time of exercise of options \| $	$ 5.69		$ 7.16
Weighted average remaining contractual life of outstanding share options \| yr		2.82	3.35
Restricted Share Rights [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date fair value, RSR's \| $		$ 2.6
Shares authorized for issuance share based compensation arrangement		3,800,000
Granted	597,200
Vesting period of sharebased compensation arrangement \| yr	3
Weighted average grant date fair value per share granted related to other equity instruments \| $ / shares		$ 4.30
Number of outstanding, other equity instruments		2,222,624

SHARE CAPITAL AND RESERVES (Sum

SHARE CAPITAL AND RESERVES (Summary of the Company's Options and the Changes for the Year) (Details)	12 Months Ended
	Dec. 31, 2017CAD ($)shares	Dec. 31, 2016CAD ($)shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
End of period, options	7,726,317
Stock Option Incentive Plan [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning of period, options	6,235,180	6,855,582
Granted, options	795,000	1,336,000
Mariana Resources Ltd. replacement options	2,078,248
Exercised, options	(797,128)	(1,516,402)
Expired unexercised, options	(584,983)	(440,000)
End of period, options	7,726,317	6,235,180
Beginning of period, options, weighted average exercise price \| $	$ 4.71	$ 5.45
Granted, options, weighted average exercise price \| $	5.50	4.96
Mariana Resources Ltd. replacement options, weighted average exercise price \| $	3.41
Exercised, options, weighted average exercise price \| $	(3.23)	(4.63)
Expired unexercised, options, weighted average exercise price \| $	(15.29)	(6.35)
End of period, options, weighted average exercise price \| $	$ 3.79	$ 4.71

SHARE CAPITAL AND RESERVES (S54

SHARE CAPITAL AND RESERVES (Summary of Share Purchase Options) (Details)	12 Months Ended
	Dec. 31, 2017CAD ($)shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares outstanding, options \| shares	7,726,317
Number of shares, vested, options \| shares	5,612,661
Weighted average exercise price per Share, options	$ 3.38
Range Exercise Price 2.92 - 11.31 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Year of expiry	2,018
Number of shares outstanding, options \| shares	175,072
Number of shares, vested, options \| shares	175,072
Weighted average exercise price per Share, options	$ 5.26
Range Exercise Price 1.46 - 6.03 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Year of expiry	2,019
Number of shares outstanding, options \| shares	3,478,439
Number of shares, vested, options \| shares	3,478,439
Weighted average exercise price per Share, options	$ 2.79
Range Exercise Price 3.60 - 3.64 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Year of expiry	2,020
Number of shares outstanding, options \| shares	1,284,000
Number of shares, vested, options \| shares	856,005
Weighted average exercise price per Share, options	$ 3.61
Range Exercise Price 2.65 - 4.96 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Year of expiry	2,021
Number of shares outstanding, options \| shares	1,405,740
Number of shares, vested, options \| shares	515,079
Weighted average exercise price per Share, options	$ 4.65
Range Exercise Price 4.86 - 15.00 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Year of expiry	2,022
Number of shares outstanding, options \| shares	1,383,066
Number of shares, vested, options \| shares	588,066
Weighted average exercise price per Share, options	$ 4.90
Bottom of range [member] \| Range Exercise Price 2.92 - 11.31 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options	2.92
Bottom of range [member] \| Range Exercise Price 1.46 - 6.03 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options	1.46
Bottom of range [member] \| Range Exercise Price 3.60 - 3.64 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options	3.60
Bottom of range [member] \| Range Exercise Price 2.65 - 4.96 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options	2.65
Bottom of range [member] \| Range Exercise Price 4.86 - 15.00 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options	4.86
Top of range [member] \| Range Exercise Price 2.92 - 11.31 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options	11.31
Top of range [member] \| Range Exercise Price 1.46 - 6.03 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options	6.03
Top of range [member] \| Range Exercise Price 3.60 - 3.64 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options	3.64
Top of range [member] \| Range Exercise Price 2.65 - 4.96 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options	4.96
Top of range [member] \| Range Exercise Price 4.86 - 15.00 [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options	$ 15

SHARE CAPITAL AND RESERVES (S55

SHARE CAPITAL AND RESERVES (Summary of the Company's Other Equity Instruments and the Changes for the Year) (Details) - Warrants [member]	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2017shares	Dec. 31, 2016shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning of period, warrants		28,046,400	29,307,173
Granted		2,025,314
Expired unexercised, warrants		(5,002,500)	(1,256,662)
Exercised, warrants		(1,059,242)	(4,111)
End of period, warrants	24,009,972	24,009,972	28,046,400
Beginning of period, Shares to be Issued Upon Exercise of the Warrants		28,046,400	29,307,173
Addition, Shares to be Issued Upon Exercise of the Warrants		2,025,314
Expired, Shares to be Issued Upon Exercise of the Warrants		(5,002,500)	(1,256,662)
Exercised, Shares to be Issued Upon Exercise of the Warrants		(1,059,242)	(4,111)
End of period, Shares to be Issued Upon Exercise of the Warrants		24,009,972	28,046,400

SHARE CAPITAL AND RESERVES (S56

SHARE CAPITAL AND RESERVES (Summary of Share Purchase Other Equity Instruments) (Details) - Warrants [member]	12 Months Ended
	Dec. 31, 2017USD ($)shares	Dec. 31, 2016shares	Dec. 31, 2015shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number outstanding	24,009,972	28,046,400	29,307,173
Number Of Warrants Outstanding One [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number outstanding	1,043,572
Exercise Price per Share	$ 0.97
Expiry Date	May 6, 2018
Number Of Warrants Outstanding Two [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number outstanding	3,000,000
Exercise Price per Share	$ 4.50
Expiry Date	Mar. 23, 2020
Number Of Warrants Outstanding Three [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number outstanding	15,000,000
Exercise Price per Share	$ 3.50
Expiry Date	Oct. 27, 2020
Number Of Warrants Outstanding Four [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number outstanding	4,966,400
Exercise Price per Share	$ 4
Expiry Date	Nov. 3, 2020

SHARE CAPITAL AND RESERVES (Dil

SHARE CAPITAL AND RESERVES (Diluted Earnings per Share is Calculated) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of terms and conditions of share-based payment arrangement [line items]
Net income for the year	$ 10,537	$ 25,254
Basic weighted average number of shares outstanding	167,265,059	144,159,678
Basic earnings per share	$ 0.06	$ 0.18
Dilutive effect of Other Equity Instruments	174,703,186	149,961,923
Diluted earnings per share	$ 0.06	$ 0.17
Stock Option Incentive Plan [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Dilutive effect of Stock options	2,217,597	1,903,699
Warrants [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Dilutive effect of Other Equity Instruments	3,582,912	2,709,987
Restricted Share Rights [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Dilutive effect of Other Equity Instruments	1,637,618	1,188,559

SHARE CAPITAL AND RESERVES (Num

SHARE CAPITAL AND RESERVES (Number of Stock Options, Warrant and RSRs Excluded from the Computation of Diluted Earnings per Share) (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Stock Option Incentive Plan [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Equity securities excluded from the calculation of diluted earnings per share	1,967,557	1,213,208
Warrants [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Equity securities excluded from the calculation of diluted earnings per share	6,412,664	8,064,894

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
INCOME TAXES [abstract]
Tax losses for which deferred tax assets recognized	$ 111.2	$ 120.8
Unused tax losses for which no deferred tax asset recognised	$ 34.3	$ 27.9

INCOME TAXES (Disclosure of Rec

INCOME TAXES (Disclosure of Reconciliation of Accounting Profit Multiplied by Applicable Tax Rates to Income Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
INCOME TAXES [abstract]
Income before income taxes	$ 14,614	$ 29,785
Canadian federal and provincial income tax rates	26.00%	26.00%
Income tax expense based on the above rates	$ 3,800	$ 7,744
Non-deductible expenses and permanent differences	989	815
Change in unrecognized temporary differences	1,146	(1,261)
Non-taxable portion of capital gain or loss	(1,801)	(3,244)
Change in future substantively enacted tax rate	(84)
Other	27	477
Total tax expense (income)	$ 4,077	$ 4,531

INCOME TAXES (Deferred Tax Asse

INCOME TAXES (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax asset	$ 13,581	$ 16,934
Deferred tax liability	(2,807)	(3,288)
Total deferred income tax asset, net	10,774	13,646	$ 16,371
Share issue costs and other [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax asset	1,966	1,906
Non-capital losses [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax asset	30,027	31,410
Mineral, royalty and other interest [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax asset	(18,412)	(16,382)
Deferred tax liability	$ (2,807)	$ (3,288)

INCOME TAXES (Movement in Defer

INCOME TAXES (Movement in Deferred Tax Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of changes in deferred tax liability asset [abstract]
Balance, beginning of the year	$ 13,646	$ 16,371
Recognized in net income (loss) for the year	(3,209)	(4,225)
Recognized in equity	2	986
Recognized in other comprehensive income	335	514
Balance, end of the year	$ 10,774	$ 13,646

INCOME TAXES (Deductible Unused

INCOME TAXES (Deductible Unused Tax Losses) (Details) - CANADA $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Non-capital loss carry-forwards	$ 111,212
Bottom of range [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Expiry date non capital loss carryforwards	2,030
Top of range [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Expiry date non capital loss carryforwards	2,036

ADMINSTRATION EXPENSES (Schedul

ADMINSTRATION EXPENSES (Schedule of Administration Expenses) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
ADMINISTRATION EXPENSES [abstract]
Corporate administration		$ 1,742	$ 1,275
Employee benefits and salaries		1,921	1,570
Professional fees		801	819
Depreciation		108	231
Administration expenses before share based compensation		4,572	3,895
Equity settled share based compensation (a non-cash expense)		2,164	1,136
Total administration expenses	[1]	$ 6,736	$ 5,031

[1]	Equity settled stock based compensation (a non-cash item) is included in administration expenses and project evaluation for the year ended December 31, 2017 $3,785 and December 31, 2016 $3,106.

SUPPLEMENTAL CASH FLOW INFORM65

SUPPLEMENTAL CASH FLOW INFORMATION (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Change in non-cash working capital: [Abstract]
Trade receivables and other	$ (602)	$ (1,847)
Trade and other payables	1,399	223
Net increase (decrease) in cash	797	(1,624)
Significant non-cash transactions:
Shares and replacement equity awards issued for Mariana acquisition	$ 131,354
Shares issued for acquisition of mineral, royalty and other interests		$ 20,892

KEY MANAGEMENT COMPENSATION (Di

KEY MANAGEMENT COMPENSATION (Disclosure of Key Management Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Key Management Compensation [Abstract]
Employee salaries and benefits	$ 2,340	$ 1,699
Share-based payments	2,569	2,041
Total key management compensation expense	$ 4,909	$ 3,740

CONTRACTUAL OBLIGATIONS (Schedu

CONTRACTUAL OBLIGATIONS (Schedule of Purchase Committments in Connection with Commodity Streams) (Details) $ in Millions	Dec. 31, 2017USD ($)$ / lb$ / oz
Gold and Silver Commodity Type [member] \| Hugo North Extension [member] \| Below 560 Metres Threshold [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	5.62%
Gold and Silver Commodity Type [member] \| Hugo North Extension [member] \| Above 560 Metres Threshold [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	8.43%
Gold and Silver Commodity Type [member] \| Heruga [member] \| Below 560 Metres Threshold [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	4.26%
Gold and Silver Commodity Type [member] \| Heruga [member] \| Above 560 Metres Threshold [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	6.39%
Gold Commodity Type [member] \| Bachelor Lake [Member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	20.00%
Threshold, maximum measurement weight commodity, purchased	12,000
Gold Commodity Type [member] \| Black Fox [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	8.00%
Gold Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member]
Contractual commitments [Line Items]
Threshold, purchase price per measurement weight change	8,600,000
Gold Commodity Type [member] \| Karma Gold [member]
Contractual commitments [Line Items]
Commodity per ounce purchase price percentage of market price	20.00%
Threshold, percentage life of mine or relevant weight commodity change	26,875
Gold Commodity Type [member] \| Karma Gold [member] \| After 26,875 Ounces Over 5 Years [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	1.625%
Gold Commodity Type [member] \| Ming [member]
Contractual commitments [Line Items]
Threshold, percentage life of mine or relevant weight commodity change	175,000
Gold Commodity Type [member] \| Ming [member] \| First 175,000 Ounces [Member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	25.00%
Gold Commodity Type [member] \| Ming [member] \| After 175,000 Ounces [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	12.00%
Gold Commodity Type [member] \| Santa Elena [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	20.00%
Silver Commodity Type [member] \| Chapada Mine [member]
Contractual commitments [Line Items]
Threshold, annual maximum measurement weight commodity purchase	100,000
Silver Commodity Type [member] \| Chapada Mine [member] \| For Year 2018 [Member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	52.00%
Silver Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member]
Contractual commitments [Line Items]
Threshold, purchase price per measurement weight change	40,300,000
Silver Commodity Type [member] \| Yamana Silver Stream [member]
Contractual commitments [Line Items]
Commodity per ounce purchase price percentage of market price	30.00%
Threshold, percentage life of mine or relevant weight commodity change	7,000,000
Threshold, annual maximum measurement weight commodity purchase	1,200,000
Cumulative pre tax cash flow threshold \| $	$ 70
Silver Commodity Type [member] \| Yamana Silver Stream [member] \| Above 7 Million Ounces Threshold [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	9.00%
Silver Commodity Type [member] \| Yamana Silver Stream [member] \| Below 7 Million Ounces Threshold [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	20.00%
Silver Commodity Type [member] \| Minera Florida Mine [member]
Contractual commitments [Line Items]
Threshold, annual maximum measurement weight commodity purchase	200,000
Silver Commodity Type [member] \| Minera Florida Mine [member] \| For Year 2018 [Member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	38.00%
Copper Commodity Type [member] \| Chapada Mine [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	4.20%
Commodity per ounce purchase price percentage of market price	30.00%
Threshold, annual maximum measurement weight commodity purchase	3,900,000
Copper Commodity Type [member] \| Chapada Mine [member] \| Above 39 Million Pounds And Less Than 50 Million Pounds Threshold [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	3.00%
Copper Commodity Type [member] \| Chapada Mine [member] \| Above 50 Million Pounds [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	1.50%
Copper Commodity Type [member] \| Chapada Mine [member] \| Before Cumulative Pre Tax Cash Flow Threshold 70 Million [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	4.20%
Threshold, annual maximum measurement weight commodity purchase	3,900,000
Copper Commodity Type [member] \| Chapada Mine [member] \| Before Yamana Copper Stream Delivers 39 Million Pounds [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	4.20%
Threshold, percentage life of mine or relevant weight commodity change	39,000,000
Copper Commodity Type [member] \| Chapada Mine [member] \| After Yamana Copper Stream Delivers 39 Million Pounds [member]
Contractual commitments [Line Items]
Threshold, percentage life of mine or relevant weight commodity change	50,000,000
Copper Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member]
Contractual commitments [Line Items]
Threshold, purchase price per measurement weight change	9,100,000,000
Copper Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member] \| Below 560 Metres Threshold [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	0.42%
Copper Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member] \| Above 560 Metres Threshold [member]
Contractual commitments [Line Items]
Percentage of life of mine gold or relevant commodity	0.62%
The Lesser of $450 and Prevailing Market Price [member] \| Gold Commodity Type [member] \| Santa Elena [member]
Contractual commitments [Line Items]
Commodity per ounce purchase price	450
The Lesser of $.50 and Prevailing Market Price [member] \| Copper Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member] \| Before 9.1 Billion Pounds [member]
Contractual commitments [Line Items]
Commodity per pound purchase price \| $ / lb	0.50
The Lesser of $1.10 and Prevailing Market Price [member] \| Copper Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member] \| After 9.1 Billion Pounds [member]
Contractual commitments [Line Items]
Commodity per pound purchase price \| $ / lb	1.10
The Lesser of $500 and Prevailing Market Price [member] \| Gold Commodity Type [member] \| Bachelor Lake [Member]
Contractual commitments [Line Items]
Commodity per ounce purchase price	500
The Lesser of $500 and Prevailing Market Price [member] \| Gold Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member] \| After 8.6 Million Ounces [member]
Contractual commitments [Line Items]
Commodity per ounce purchase price	500
The Lesser of $531 and Prevailing Market Price [member] \| Gold Commodity Type [member] \| Black Fox [member]
Contractual commitments [Line Items]
Commodity per ounce purchase price	531
The Lesser of $220 and Prevailing Market Price [member] \| Gold Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member] \| Before 8.6 Million Ounces [member]
Contractual commitments [Line Items]
Commodity per ounce purchase price	220
The Lesser of $5 and Prevailing Market Price [member] \| Silver Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member] \| Before 40.3 Million Ounces [member]
Contractual commitments [Line Items]
Commodity per ounce purchase price	5
The Lesser of $10 and Prevailing Market Price [member] \| Silver Commodity Type [member] \| Hugo North Extension and Heruga Gold Stream [member] \| After 40.3 Million Ounces [member]
Contractual commitments [Line Items]
Commodity per ounce purchase price	10

SEGMENTED INFORMATION (Schedule

SEGMENTED INFORMATION (Schedule of Reportable Operating Segments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
OPERATING SEGMENT RESULTS
Sales	$ 49,208	$ 41,634
Royalty revenue	19,067	20,737
Cost of sales excluding depletion	15,321	12,834
Depletion	29,580	27,654
Impairment of mineral, royalty and other interests	9,104	2,507
(Gain) loss on disposal of mineral interest and other	(4,848)	1,107
Income (loss) before taxes	14,614	29,785
Cash flow from (used in) operating activities	44,773	38,991
Material reconciling items [member]
OPERATING SEGMENT RESULTS
(Gain) loss on disposal of mineral interest and other	(1,251)	1,107
Income (loss) before taxes	(3,253)	10,409
Cash flow from (used in) operating activities	(9,549)	(9,704)
Reportable segments [member]
OPERATING SEGMENT RESULTS
Sales	49,208	41,634
Royalty revenue	19,067	20,737
Cost of sales excluding depletion	15,321	12,834
Depletion	29,580	27,654
Impairment of mineral, royalty and other interests	9,104	2,507
(Gain) loss on disposal of mineral interest and other	(3,597)
Income (loss) before taxes	17,867	19,376
Cash flow from (used in) operating activities	54,322	48,695
Other Royalties [member] \| Various Products [member]
OPERATING SEGMENT RESULTS
Royalty revenue	11,538	14,419
Cost of sales excluding depletion		4
Depletion	5,894	6,592
Impairment of mineral, royalty and other interests	9,104	2,507
(Gain) loss on disposal of mineral interest and other	(866)
Income (loss) before taxes	(2,594)	5,316
Cash flow from (used in) operating activities	13,693	14,073
Other Royalties [member] \| Gold Product [member]
OPERATING SEGMENT RESULTS
Royalty revenue	6,500	9,200
Other Royalties [member] \| Copper Product [member]
OPERATING SEGMENT RESULTS
Royalty revenue	1,500	2,500
Other Royalties [member] \| Other Base Metal Product [member]
OPERATING SEGMENT RESULTS
Royalty revenue	3,500	2,700
Other [member] \| Gold Product [member]
OPERATING SEGMENT RESULTS
Sales	327	226
Cost of sales excluding depletion	26	18
Depletion	103	69
(Gain) loss on disposal of mineral interest and other	221
Income (loss) before taxes	(23)	139
Cash flow from (used in) operating activities	294	208
CANADA \| Bachelor Lake [member] \| Gold Product [member]
OPERATING SEGMENT RESULTS
Sales	7,706	8,721
Royalty revenue	379	462
Cost of sales excluding depletion	3,082	3,494
Depletion	4,074	4,411
(Gain) loss on disposal of mineral interest and other	(2,952)
Income (loss) before taxes	3,881	1,278
Cash flow from (used in) operating activities	5,030	5,481
CANADA \| Black Fox [member] \| Gold Product [member]
OPERATING SEGMENT RESULTS
Sales	6,693	5,617
Cost of sales excluding depletion	2,847	2,354
Depletion	2,520	2,011
Income (loss) before taxes	1,326	1,252
Cash flow from (used in) operating activities	3,953	2,951
CANADA \| Diavik [member] \| Diamonds Product [member]
OPERATING SEGMENT RESULTS
Royalty revenue	7,150	5,856
Depletion	6,080	5,519
Income (loss) before taxes	1,070	337
Cash flow from (used in) operating activities	6,781	5,901
CANADA \| Ming [member] \| Gold Product [member]
OPERATING SEGMENT RESULTS
Sales	796	2,025
Depletion	356	792
Income (loss) before taxes	440	1,233
Cash flow from (used in) operating activities	796	2,025
CANADA \| Other Royalties [member]
OPERATING SEGMENT RESULTS
Royalty revenue	5,700	5,600
UNITED STATES \| Other Royalties [member]
OPERATING SEGMENT RESULTS
Royalty revenue	1,500	2,500
BRAZIL \| Chapada [member] \| Copper Product [member]
OPERATING SEGMENT RESULTS
Sales	11,001	6,075
Cost of sales excluding depletion	3,249	1,843
Depletion	3,765	2,737
Income (loss) before taxes	3,987	1,495
Cash flow from (used in) operating activities	7,753	4,232
BURKINA FASO \| Karma [member] \| Gold Product [member]
OPERATING SEGMENT RESULTS
Sales	6,863	4,272
Cost of sales excluding depletion	1,365	860
Depletion	3,437	2,095
Income (loss) before taxes	2,061	1,317
Cash flow from (used in) operating activities	5,489	3,314
MEXICO \| Santa Elena [member] \| Gold Product [member]
OPERATING SEGMENT RESULTS
Sales	11,570	11,772
Cost of sales excluding depletion	3,485	3,385
Depletion	1,098	2,001
Income (loss) before taxes	6,987	6,386
Cash flow from (used in) operating activities	7,548	8,460
ARGENTINA \| Yamana Silver Stream [member] \| Silver Product [member]
OPERATING SEGMENT RESULTS
Sales	4,252	2,926
Cost of sales excluding depletion	1,267	876
Depletion	2,253	1,427
Income (loss) before taxes	732	623
Cash flow from (used in) operating activities	2,985	2,050
ARGENTINA \| Other Royalties [member]
OPERATING SEGMENT RESULTS
Royalty revenue	1,800	1,900
HONDURAS \| Other Royalties [member]
OPERATING SEGMENT RESULTS
Royalty revenue	1,800	3,700
Other Geographical Areas [Member] \| Other Royalties [member]
OPERATING SEGMENT RESULTS
Royalty revenue	700	700
Administrative and Project Evaluation Expenses [member] \| Material reconciling items [member]
OPERATING SEGMENT RESULTS
Income (loss) before taxes	(11,300)	(10,095)
Cash flow from (used in) operating activities	(7,408)	(6,758)
Foreign Exchange Gain Loss [member] \| Material reconciling items [member]
OPERATING SEGMENT RESULTS
Income (loss) before taxes	2,434	(87)
Gain Loss On Revaluation Of Investments [member] \| Material reconciling items [member]
OPERATING SEGMENT RESULTS
Income (loss) before taxes	5,827	22,093
Finance Expense Net [member] \| Material reconciling items [member]
OPERATING SEGMENT RESULTS
Income (loss) before taxes	(1,465)	(395)
Cash flow from (used in) operating activities	(1,593)	(2,388)
Other [member] \| Material reconciling items [member]
OPERATING SEGMENT RESULTS
(Gain) loss on disposal of mineral interest and other	(1,251)	1,107
Income (loss) before taxes	1,251	(1,107)
Cash flow from (used in) operating activities	$ (548)	$ (558)

SEGMENTED INFORMATION (Schedu69

SEGMENTED INFORMATION (Schedule of Assets by Segments) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEGMENTED ASSETS AND LIABILITIES
Assets	$ 660,915	$ 534,882
Cash	12,539	21,434	$ 5,346
Deferred income tax assets	13,581	16,934
Deferred financing costs and other long term assets	2,817	2,416
Loan receivable, principal		23,357
Noncurrent assets	545,528	402,785
Mineral, royalty and other interests	365,477	402,785
Hot Maden interest	177,452
Material reconciling items [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	109,194	126,307
Cash	12,539	21,434
Investments	78,882	61,293
Deferred income tax assets	13,581	16,934
Deferred financing costs and other long term assets	4,192	3,289
Loan receivable, principal		23,357
Reportable segments [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	551,721	408,575
Aurizona [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	10,723	10,723
Bachelor Lake [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	1,124	5,268
Black Fox [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	11,350	13,946
Chapada [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	63,026	66,791
Diavik [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	36,739	42,450
Hot Maden [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	183,271	5,818
Mineral, royalty and other interests	5,800	5,816
Hot Maden interest	177,452
Hugo North Extension and Heruga [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	35,351	35,351
Karma [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	21,034	24,389
Ming [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	11,300	11,653
Santa Elena [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	3,693	4,345
Yamana Silver Stream [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	70,556	72,807
Other Royalties [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	96,131	108,844
Other [member]
SEGMENTED ASSETS AND LIABILITIES
Assets	7,423	6,190
CANADA
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	86,832	99,728
BRAZIL
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	77,113	85,410
MONGOLIA
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	36,589	36,589
BURKINA FASO
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	20,087	26,807
UNITED STATES
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	16,055	21,403
TURKEY
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	187,725	10,260
SOUTH AFRICA
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	4,301	4,066
MEXICO
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	2,874	4,033
ARGENTINA
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	94,166	95,191
FRENCH GUIANA
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	5,154	5,153
HONDURAS
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	1,430	2,248
CHILE
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	2,460	2,460
PARAGUAY
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets		1,264
COTE D'IVOIRE
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	400
BOTSWANA
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	1,017
PERU
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	6,434	4,899
AUSTRALIA
SEGMENTED ASSETS AND LIABILITIES
Noncurrent assets	$ 2,891	$ 3,274

SUBSEQUENT EVENT (Narrative) (D

SUBSEQUENT EVENT (Narrative) (Details) - USD ($) $ in Thousands	Jan. 17, 2018	Jan. 03, 2018	Dec. 31, 2017	Dec. 31, 2016
Subsequent events [Line Items]
Proceeds from sales of investments other than investments accounted for using equity method			$ 14,352	$ 12,774
Acquisition of mineral, royalty and other interests			$ 4,409	$ 10,806
Other disposals of assets [member]
Subsequent events [Line Items]
Proceeds from sales of investments other than investments accounted for using equity method		$ 18,300
Major purchases of assets [member]
Subsequent events [Line Items]
Net smelter return royalty percentage	2.00%
Acquisition of mineral, royalty and other interests	$ 45,000