Canadian Mining Journal

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Silver Wheaton turns to internal growth


VANCOUVER — Industry stalwart Silver Wheaton (TSX: SLW; NYSE: SLW) has enjoyed a meteoric rise over the past decade.

The pioneer of providing stream financing has mobilized over US$8 billion in capital in 12 years. It now holds interests in 22 operating mines and eight development projects globally, and generated US$134 million, or 31¢ per share, in operating cash flows during the second quarter. In 2005 Silver Wheaton’s annual cash flows totalled just US$30 million.

On Sept. 29 the company hosted its inaugural investor day that included a three-hour presentation focused on its growth plans and what it calls its “portfolio optionality,” which could boost annual attributable production from 56 million oz to over 80 million oz silver equivalent.

That growth would be driven by development stage projects and mine expansions, including a pair of major open-pit copper projects that might be inching closer to production.

Read the entire story at The Northern Miner.