Silver Wheaton Corporation

Silver Wheaton Corporation is a public company engaged in the purchase and sale of silver. The company finances mining companies that have discovered resources and intend to build mining facilities. In exchange, Silver Wheaton signs contracts with the companies to purchase their silver produce at a fixed price. The top silver streaming company is headquartered in Vancouver, Canada. At present, the company sells up to 18 million ounces of silver per year. Silver Wheaton plans to reach total sales of 31 million ounces of silver. The company’s shares are listed under the symbol SLW at the American Stock Exchange and the Toronto Stock Exchange.

The corporation was established in 2004 as a spin-off from the Goldcorp mining giant. In October 2004, Silver Wheaton signed its first contract to purchase silver produce at the price of $3.90. The agreement covered the total silver output of the Lusmin Mining site in Mexico which was operated by Goldcorp. The amended agreement of 2006 increased the number of ounces that were delivered to Silver Wheaton from 100 to 220 million. In 2009, Silver Wheaton acquired Silverstone Resources Corporation which became a subsidiary company.

Apart from the agreement with Goldcorp, Silver Wheaton holds the right to purchase the production of 10 other mining companies. The silver streaming company has signed an agreement to buy 100 percent of the silver produced by the Lundin Mining. The agreement will remain in force for the mine life of the Zinkgruvan site. Silver Wheaton has negotiated the acquisition of the entire output of the Stratoni site, operated by Hellas Gold SA. The estimated silver reserves of the company amount to 13.7 million ounces. As of 2008, Silver Wheaton has signed an agreement to purchase 25 percent of the silver output of the Goldcorp operated Penasquito mine. The estimated reserve of the site stands at 261 million ounces of silver. In addition, the company has entered into agreements with other silver producers such as Mercator Minerals Limited, Farallon Resources Limited, Aaurcana Corporation, and Alexo Resource Corportion.



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