Panoro Minerals Ltd.Grey Market
Tue, Mar. 22, 1:39 PM
- Silver Wheaton (SLW -0.2%) says it entered into an early deposit precious metals purchase agreement with Panoro Minerals (OTC:POROF) related to the Cotabambas project in Peru, in which it will pay $140M.
- SLW will be entitled to purchase 100% of silver production and 25% of gold production from Cotabambas until 90M silver equiv. oz. attributable to SLW have been delivered, then the stream would drop to two-thirds of silver production and one-sixth of gold production for the life of mine.
- Until Jan. 1, 2020, Panoro has a one-time option to repurchase 50% of the precious metals stream.