Wheaton Precious Metals Corp (NYSE:WPM) don just show say e dey among the top gold mining companies wey get high upside potential. On April 1, their subsidiary, Wheaton Precious Metals International, enter one Precious Metals Purchase Agreement.
This agreement na with one wholly owned subsidiary of KGL Resources Limited. The whole matter concern portion of the gold and silver wey dem go produce for the Jervois Project for Australia. Under the terms wey dem agree, Wheaton unit go pay KGL $275 million total for upfront cash. The money go come in two installments of $16 million each, and the remaining $243 million go follow in four equal installments.
The company say dem go finance majority of the upfront payment through operating cash flows. For return, Wheaton get right to purchase 75% of payable gold until 45,000 ounces, and 37.5% until additional 15,000 ounces deliver. Wheaton go also purchase 75% of payable silver until 4.3 million ounces deliver, and then 37.5% until additional 1.7 million ounces deliver.
Haytham Hodaly, President and Chief Executive Officer of Wheaton, talk say, “This na fully permitted copper project, with significant exploration potential, wey dey positioned to commence construction imminently. As global efforts to transition to low-carbon economy accelerate, responsibly produced critical metals such as copper, sourced from politically stable jurisdictions, never been more important.”
Wheaton Precious Metals Corp (NYSE:WPM) na one of the world largest precious metals companies. Dem dey provide upfront capital to mining partners to build or expand mines, and for return, dem secure the right to purchase percentage of future silver, gold, palladium, and cobalt production at fixed, low costs.
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