Silver Wheaton Corp.
Largest Pure Silver Streaming Company
  • Demo Video
  • Private Messages
  • Edit My Profile
  • View/Edit Portfolio

AGORACOM News Flash

  • Agricultural Company Producing Fertilizer and Revenues RIGHT NOW
  • $8.5 Million In 2015 Sales Contracts
  • Supplying World's Largest Agricultural Region
  • Doubling Capacity To 160,000 Tonnes Per Year
  • Increasing To 240,000 In 2016; 320,000 In 2017
  • Strong Institutional Financial Backing

WHO IS THIS COMPANY?


WATCH GEORGE'S INTERVIEW WITH CEO

  • George Calls DuSolo A SmallCap 2.0 Company
  • Real Products, Real Customers, Real Revenues
  • Ridiculously Low CapEx To Achieve Production

DO YOU DUE DILIGENCE ... WATCH THIS INTERVIEW NOW

 

Hub On AGORACOM / Watch Interview Now!

Message: Silver Wheaton Seeks Second Deal After Vale Gold Purchase

Bayst_profile
Rank: [?]
Vice President
Points: [?]
9541
Rating: [?]
Votes: 168 Score: 3.2
  • Currently 3.2/5 Stars.
Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Silver Wheaton Seeks Second Deal After Vale Gold Purchase

posted on Feb 21, 13 10:46AM
By Alex Emery -

Silver Wheaton Corp., the world’s largest buyer of precious-metal output rights from copper, zinc and lead mines, is seeking a second purchase this year after paying $1.9 billion for gold from Vale SA.

The company, whose model of paying for mining companies’ future gold and silver by-product to help fund projects is known as streaming, has more than $1 billion in available cash and revolving credits for purchases in the Americas, Chief Executive Officer Randy Smallwood said.

“It would surprise me if we didn’t get one done this year,” Smallwood, 48, said about possible output acquisitions in a telephone interview from Vancouver. “The two key countries for our company are Mexico and Peru.”

Silver Wheaton has bought output rights from Vale, Hudbay Minerals Inc. and Barrick Gold Corp. in Latin America since 2009. It also bought shares in Bear Creek Mining Corp., which is developing silver mines in Peru.

The Vancouver-based company estimates output of 33.5 million ounces of silver equivalent in 2013, including 145,000 ounces of gold, rising to 53 million ounces in 2017, according to data on its website.

Silver prices will probably average $34.16 per ounce this year, according to 19 analysts’ estimates compiled by Bloomberg, compared with $31.19 in 2012. Silver slumped 2.8 percent to $28.60 an ounce in New York. Silver Wheaton fell 6.3 percent to C$32.84 in Toronto.

“We do think silver will outperform gold,” Smallwood said. “There’s nowhere near the above-ground stockpile that can sometimes go against gold.”

To contact the reporter on this story: Alexander Emery in Lima at aemery1@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

New Message

Please login to post a reply

AGORACOM Quick Tips

Small-Cap CEO Lessons - Is Your CEO Out Of Touch? ... Not Anymore

President's D.D.

New feature: Hub Presidents can add important links here.