Silver Wheaton Corp.NYSE
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  • Feb. 28, 2014, 11:59 AM
    • HudBay Minerals (HBM +3.4%) CEO David Garofalo tears into the management at takeover target Augusta Resources (AZC +1.6%), calling the company "essentially insolvent" and warning that its shareholders were at risk without a quick wrap-up in permitting for its Rosemont copper project.
    • AZC said this week that it expects to receive its final required permit for Rosemont in H1 of this year, while HBM contends the permitting process will take much longer and could cause serious liquidity problems, noting that a $109M loan comes due in July.
    • AZC "really [has] no money, they have significant debt, and that debt is coming due very soon," Garofalo says, adding that two permits AZC has obtained are facing legal challenges, which could delay planned funding from Silver Wheaton (SLW).
    | Feb. 28, 2014, 11:59 AM | 5 Comments
  • Feb. 5, 2013, 5:52 PM

    Silver Wheaton’s (SLW) $1.9B purchase of Vale (VALE) gold streams should hike revenues generated from gold production from an average of 12% to a peak of ~25% in the next five years. The move is expected to immediately boost SLW’s production and cash flow profile by adding expected average gold production of 110K oz./year over the next 20 years, or ~$3.7B at prevailing gold prices, Jon Ogg calculates.

    | Feb. 5, 2013, 5:52 PM | 7 Comments
  • Feb. 5, 2013, 5:27 PM

    Silver Wheaton (SLW) agrees to acquire from Vale (VALE) an amount of gold equal to 25% of the life of mine gold production from its Salobo Mine in Brazil, and 70% of the gold production for a 20-year term from some of its Sudbury Mines in Canada. SLW will pay $1.9B in cash, 10M warrants and ongoing payments of the lesser of $400 or the prevailing market price for each ounce of gold delivered under the agreement.

    | Feb. 5, 2013, 5:27 PM | 7 Comments
  • Aug. 9, 2012, 2:51 PM

    "It's good to be back making acquisitions," Silver Wheaton's (SLW +2.1%) Randy Smallwood says ahead of Q2 earnings and after its $750M deal to purchase gold and silver from HudBay mines. Deals had been too expensive with silver prices above $40/oz., but "we do think silver is near a bottom." As far as most analysts are concerned, the deal was worth the wait.

    | Aug. 9, 2012, 2:51 PM | 2 Comments