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« Gold-prices.biz Stock Trader Update 12 March 2015 | Main | Are banks rigging the gold and silver price? »
Monday
Mar022015

SILVER WHEATON ACQUIRES ADDITIONAL GOLD STREAM FROM VALE'S SALOBO MINE

TRANSACTION HIGHLIGHTS

Provides immediate production and cash flow
Silver Wheaton will receive an additional 25% of the gold production from Vale's Salobo mine, entitling the Company to a total of 50% of the life-of-mine gold production from the mine.

This immediately increases Silver Wheaton's production and cash flow profile by adding expected average gold production of 70,000 ounces per year for the first 10 years and 60,000 ounces per year over the first 30 years (5.0 million and 4.3 million silver equivalent ounces1, respectively).

Significant expansion and exploration potential exists at Salobo, which currently has an extensive reserve base and good depth potential.Subsequent to the closing of this acquisition, Silver Wheaton's estimated Proven and Probable gold reserves increase by 3.3 million ounces, Measured and Indicated gold resources increase by 0.8 million ounces, and Inferred gold resources increase by 0.4 million ounces.

Over the next five years, gold as a percentage of Silver Wheaton's forecasted production is estimated to grow to over 40%.

One day thid stock will trade at $100 - but thats still some way off

To read this news release in full please click here.

The bottom's not in yet We think that there will be a final capitulation just ahead of us.

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