Silver Wheaton
in $800M bought deal financing to acquire more gold stream
Carl
Surran, SA News Editor
- Silver Wheaton (NYSE:SLW) agreeing
to sell ~$800M of stock to fund its purchase of an additional
supply of gold from a Vale (NYSE:VALE)
mine.
- SLW says it will use the proceeds of the offering to
fund its acquisition of an additional 25% gold stream from Vale’s Salobo
Mine in Brazil, which is in addition to the 25% of the mine's gold
production SLW acquired in 2013.
- The deal raises SLW’s production and cash flow profile by adding expected average gold production of 70K oz./year for the first 10 years and 60K oz./year over the first 30 years.
Quelle: bigcharts.com
