6th Nov 2020 16:56
Wheaton Precious Metals Corp - precious metals streaming company - Says wholly-owned subsidiary Wheaton Precious Metals International Ltd has entered into a definitive precious metals purchase agreement with Caldas Gold Corp in respect to the Marmato project, located in Colombia. Wheaton International will purchase 6.5% of the gold production and 100% of the silver production until 190,000 ounces of gold and 2.2 million ounces of silver have been delivered, after which the stream drops to 3.3% of the gold production and 50% of the silver production for the life of mine. Under the proposed precious metals stream, Wheaton International will pay USD110 million. In addition, Wheaton International will make ongoing payments equal to 18% of the spot gold and silver price until the uncredited portion of the upfront payment is reduced to zero, and 22% of the spot gold and silver price thereafter. The precious metals stream is effective July 1.
Current stock price: 3,833.23 pence
Year-to-date change: up 12%
By Evelina Grecenko; [email protected]
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