VANCOUVER – WHEATON RIVER MINERALS has entered into a US$300-million acquisition facility, which it may draw down over the next 15 months. The arrangement was made with HVB GROUP to finance up to three separate deals involving mining exploration, development or production. Any money advance to Wheaton must be repaid or refinanced by February 2006.
Ian Telfer, chairman and CEO of Wheaton, stated, "This US$300-million facility, combined with a present cash balance of over US$100 million, will allow Wheaton to acquire precious metal assets and continue its growth path."
Wheaton remains the object of a hotly-contested takeover bid by COEUR D’ALENE MINES of Idaho. Coeur has offered $2.4 billion for all outstanding Wheaton shares. Details of the offer are posted at www.coeur.com.