Silver Wheaton (TSE:SLW)

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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Tue Oct 09, 2012 2:25 pm » Safari 6.0.1 Safari 6.0.1  Mac OS X Mac OS X  Screen Resolution: 1920 x 1200 1920 x 1200

Silver Wheaton Corporation: Par Excellence

...Today we were in touch with Rory Quinn, Manager, Investor Relations, for SLW regarding the possibilities of more acquisitions as a fair amount of time had lapsed on the deal making front prior to the Hudbay agreement being announced. This is his response:

Silver Wheaton (SLW: NYSE & TSX) was recently recognized as #1 (out of 100) in "Fortune's Fastest-Growing Companies" magazine, September 24th issue.

The recent transaction with Hudbay Minerals (HBM), closed September 28th, 2012, contributes to an industry leading growth profile allowing Silver Wheaton to grow from 28 million equivalent silver ounces forecast in 2012, to 48 million equivalent silver ounces forecast in 2016. The company is as busy as it has ever been on the business development side of the business (reviewing projects and potential transactions), and it has plenty of capacity to pursue other transactions now and in the future ($1.1B cash balance as of 06/30/2012, minus $500M paid to Hudbay and a $138M payment to Barrick. Plus a quarter's worth of cash generation [example: $172M in Q2 2012, $168M in Q2 2011] and a $400M undrawn credit facility).

Silver Wheaton investors benefit from exposure to silver, yield (through its dividend policy), access to some of the best mines in the world at a fixed cost per ounce of silver, growth from the company doing further transactions, exposure to the existing growth profile through 2016, and organic exploration growth at its partners' mines. In those ways, an investment in Silver Wheaton offers much more than an ETF does, and the implied administrative cost of Silver Wheaton's G&A works out to about 18 basis points (0.18%), compared to anywhere from a 30 to 56 basis points administration cost for popular silver ETF products....
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Mon Nov 05, 2012 11:52 am » Safari 6.0.1 Safari 6.0.1  Mac OS X Mac OS X  Screen Resolution: 1920 x 1200 1920 x 1200

Silver Wheaton Reports Record Quarterly Production Results

Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW) (NYSE:SLW) is pleased to announce its unaudited results for the third quarter ended September 30, 2012.

THIRD QUARTER HIGHLIGHTS

  • Record attributable silver equivalent production of 7.7 million ounces compared to 6.1 million ounces in Q3 2011, representing an increase of 26%.
  • While production was at record levels, silver equivalent sales amounted to 5.1 million ounces due to the timing of deliveries, with the difference attributable to an increase of 2.0 million payable silver equivalent ounces being produced in the quarter that will be recognized in future sales.
  • Revenues were US$161.3 million compared to US$185.2 million in Q3 2011, representing a decrease of 13%, attributable to a 14% decrease in silver prices from a year earlier with silver equivalent sales being consistent year over year at 5.1 million ounces.
  • Net earnings were US$119.7 million (US$0.34 per share) compared to US$135.0 million (US$0.38 per share) in Q3 2011, representing a decrease of 11%.
  • Operating cash flows were US$128.7 million (US$0.36 per share[1]) compared to US$167.2 million (US$0.47 per share) in Q3 2011, representing a decrease of 23%.
  • Cash operating margin[1] was US$27.20[1] per silver equivalent ounce, compared to US$32.11 in Q3 2011, representing a decrease of 15%.
  • Average cash costs[1] rose slightly to US$4.16[1] per silver equivalent ounce, compared to US$4.12 in Q3 2011.
  • As at September 30, 2012, approximately 5.2 million payable silver equivalent ounces attributable to the Company have been produced at the various mines and will be recognized in future sales as they are delivered to the Company under the terms of their contracts. This represented an increase of 2 million payable silver equivalent ounces during the three months ended September 30, 2012.
  • At September 30, 2012, the Company had approximately $555 million of cash on hand and $400 million of available credit under its revolving bank debt facility. This cash and available credit, together with strong operating cash flows, positions the Company well to execute on its growth strategy of acquiring additional accretive silver and precious metal stream interests.
  • Declared quarterly dividend of US$0.07 per common share, representing 20% of the cash generated by operating activities during the three months ended September 30, 2012.
  • On September 28, 2012, the Company announced that it had closed the previously announced purchase from Hudbay Minerals Inc. ("Hudbay") of a precious metals stream from its currently producing flagship 777 mine ("777"), as well as a silver stream from their cornerstone development project, Constancia. Initial production covering the period August 1, 2012, through September 30, 2012, from 777 totaled 733,000 silver equivalent ounces (139,000 ounces of silver and 11,500 ounces of gold).
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Re: Silver Wheaton (TSE:SLW)

Postby JIMBOWEN » Mon Dec 17, 2012 10:58 pm » Firefox 15.0.1 Firefox 15.0.1  Windows Seven 64 bits Windows Seven 64 bits  Screen Resolution: 1366 x 768 1366 x 768

Sliver Wheaton article - definitely a core holding and great business model

http://commodityshares.net/?p=172
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Wed Feb 06, 2013 11:59 pm » Safari 6.0.2 Safari 6.0.2  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Who was worried about SLW being able to add more streams to its portfolio. Any gold or silver bug should have some of these in their portfolio as they highly leverage the gains in metals and pay you dividends.

Silver Wheaton's Deal With Vale Adds Another Future Revenue Stream To Its Portfolio

Silver Wheaton (SLW) announced yesterday that it has entered into a binding term sheet to acquire Vale's (VALE) gold production from two mines located in Brazil and Canada. We think this deal fits well with Silver Wheaton's specialty in helping fund exploration for gold and silver and then splitting the production proceeds based on a fixed purchase price agreement.

The company will pay Vale $1.9 billion in cash, plus 10 million Silver Wheaton warrants with a strike price of $65 and a term of 10 years. Of the $1.9 billion, $1.33 billion will be paid for 25% of the gold output from the Salobo mine in Brazil and $570 million for 70% of the gold output from the Sudbury mine in Canada. In addition, Silver Wheaton will pay the lesser of $400 or market price for each ounce of gold produced, subject to a 1% inflation related adjustment after 2016 for Salobo. This deal will be valid for 20 years and production will accrue retroactively to Silver Wheaton as of Jan. 1, 2013, even as the term sheet remains subject to negotiations and approval by Vale’s board of directors.

In addition to Silver Wheaton making use of its $550 million cash reserves, the deal is being financed by Scotiabank and BMO Capital Markets. These institutions will provide Silver Wheaton with a $1 billion revolving credit facility and also a $1.5 billion bridge financing facility to facilitate upfront payments to Vale...
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Thu Mar 07, 2013 2:46 pm » Safari 6.0.2 Safari 6.0.2  Mac OS X Mac OS X  Screen Resolution: 1920 x 1200 1920 x 1200

Silver Wheaton chief would be ‘surprised’ not to close more deals this year

By: Henry Lazenby | 5th March 2013

TORONTO (miningweekly.com) – The world’s largest precious metals streaming company Silver Wheaton on Tuesday said it has an appetite for more large deals this year, following its blockbuster acquisition of a share of the gold production from two mines owned by diversified miner Vale for $1.9-billion, early in February.

Co-founder and CEO Randy Smallwood told Mining Weekly Online on the sidelines of the Prospectors & Developers Association of Canada’s yearly mining investment convention that the sheer quantity and quality of projects available almost certainly bodes well for the company entering into more deals.

“In fact, I would be surprised if we do not enter into more deals this year as the quality of projects in the market for deals are really encouraging. That’s why we also raised $2.5-billion to give us extra capacity after the Vale transaction,” he said.

Smallwood said that, despite there having been times in the past when the company was busy, the phone is now ringing as much as ever with companies seeking finance.

He stressed the equity and debt markets are exceedingly negative at the moment, forcing companies to seek creative ways to raise funds and that is what has brought the strength of the metals streaming business model to the fore.

There exists a fundamental arbitrage in metals. Smallwood explained that nobody associates Vale with gold, or Barrick with silver, but it is in unlocking the hidden value in the noncore metals miners produce that is attractive...
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Fri Mar 08, 2013 11:52 pm » Safari 6.0.2 Safari 6.0.2  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Good write up on SLW here by someone calling themselves hyperinflation;

The New Face Of Silver Wheaton

Established in 2004, Silver Wheaton (SLW) has quickly positioned itself as the largest metals streaming company in the world. The company currently has 15 silver purchase agreements and five precious metals agreements where, in exchange for an upfront payment, it has the right to purchase all or a portion of the silver production, at a low fixed cost, from high-quality mines located in politically stable regions, for the life of the mine, unless otherwise specified.

Based upon its current agreements, forecast 2013 attributable production is now to be 33 million silver equivalent ounces, including up to 140,000+ ounces of gold, following its most recent streaming acquisitions, which both adds to immediate and longer-term cash flow. By 2016, annual attributable production is anticipated to increase significantly to approximately 52+ million silver equivalent ounces, including 200,000 ounces of gold. Beyond the initial upfront payment, no ongoing capital expenditures are required to generate this growth (with the exception of remaining milestone payments, which are part of the initial contract), and Silver Wheaton does not hedge its silver production.

Silver Wheaton's industry-leading growth profile is driven by a portfolio of world-class assets, including silver streams on Goldcorp's (GG) Peñasquito mine in Mexico and Barrick's (ABX) Pascua-Lama project straddling the border of Chile and Argentina. Silver Wheaton should also see record production from the likes of its San Dimas stream, which, since being taken over Primero, will increase attributable production to Silver Wheaton in the near and longer term as it undergoes an expansion...
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Fri Mar 22, 2013 12:10 am » Safari 6.0.3 Safari 6.0.3  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Silver Wheaton reports record 2012 operating and financial results

VANCOUVER, March 21, 2013 /CNW/ - Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW) (NYSE:SLW) is pleased to announce its audited results for the fourth quarter and year ended December 31, 2012. All figures are presented in United States dollars unless otherwise noted.

FULL YEAR HIGHLIGHTS

  • Fourth consecutive year of record attributable silver equivalent production of 29.6 million ounces compared to 25.4 million ounces in 2011, representing an increase of 17%.
  • Record silver equivalent sales of 27.3 million ounces compared to 21.1 million ounces in 2011, representing an increase of 30%.
  • Record revenues of $849.6 million compared to $730.0 million in 2011, representing a 16% increase.
  • Record net earnings of $586.0 million ($1.66 per share) compared to $550.0 million ($1.56 per share) in 2011, representing a 7% increase.
  • Record operating cash flows of $719.4 million ($2.03 per share1) compared to $626.4 million ($1.77 per share1) in 2011, representing a 15% increase.
  • Cash operating margin1 of $26.79 per silver equivalent ounce, compared to $30.56 in 2011, representing a 12% decrease.
  • Average cash costs1 rose to $4.30 per silver equivalent ounce, compared to $4.09 in 2011, representing a 5% increase.
  • In August 2012, acquired from Hudbay Minerals Inc. ("Hudbay") a precious metals stream from its currently producing 777 mine ("777") and a silver stream from its cornerstone development project, Constancia.
  • During 2012, Silver Wheaton paid $123.9 million in dividends ($0.35 per share) compared to $63.6 million in 2011 ($0.18 per share), representing a 95% increase.

FOURTH QUARTER HIGHLIGHTS

  • Record attributable silver equivalent production of 8.5 million ounces compared to 6.9 million ounces in Q4 2011 and 7.7 million ounces in Q3 2012, representing an increase of 22% and 10%, respectively.
  • Record silver equivalent sales of 9.1 million ounces compared to 6.0 million ounces in Q4 2011 and 5.1 million ounces in Q3 2012, representing an increase of 53% and 78%, respectively.
  • Record revenues of $287.2 million compared to $191.9 million in Q4 2011, representing a 50% increase.
  • Record net earnings of $177.7 million ($0.50 per share) compared to $144.7 million ($0.41 per share) in Q4 2011, representing a 23% increase.
  • Record operating cash flows of $254.0 million ($0.72 per share1) compared to $163.7 million ($0.46 per share1) in Q4 2011, representing a 55% increase.
  • Cash operating margin1 of $26.76 per silver equivalent ounce, compared to $28.06 in Q4 2011, representing a 5% decrease.
  • Average cash costs1 rose to $4.70 per silver equivalent ounce, compared to $4.06 per silver equivalent ounce in Q4 2011, representing a 16% increase, driven primarily by higher costs associated with silver and gold from the Hudbay 777 mine ($5.90 and $400 per ounce of silver and gold, respectively).
  • Declared quarterly dividend of $0.14 per common share, representing 20% of the cash generated by operating activities during the three months ended December 31, 2012.

2013 OUTLOOK

  • Silver Wheaton anticipates a 13% year over year increase in its 2013 attributable production to approximately 33.5 million silver equivalent ounces, including 145 thousand ounces of gold.
  • In 2017, the Company forecasts 53 million ounces of silver equivalent production (including 180 thousand ounces of gold), which represents an increase of 79% from 2012.
  • The acquisition of the Salobo and Sudbury gold streams from Vale S.A. ("Vale") subsequent to December 31, 2012, is expected to double Silver Wheaton's attributable gold production over the next five years. Coupled with a full year of attributable production from Hudbay's 777 mine, acquired in August 2012, these cornerstone assets will drive the company's production growth in 2013.
  • As per the Company's news release dated March 19, 2013, attributable silver and gold reserves increased to 851.4 million ounces and 4.96 million ounces, respectively, as a result of organic and acquisition growth, inclusive of the acquisition of gold streams from Vale's Salobo and Sudbury mines. Based on reserve estimates as at December 31, 20121, following the Vale transaction, silver equivalent reserves attributable to Silver Wheaton have grown to 1.12 billion ounces2.
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Fri May 10, 2013 11:43 pm » Safari 6.0.3 Safari 6.0.3  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Silver Wheaton amends dividend policy and declares second quarterly dividend payment for 2013

VANCOUVER, May 10, 2013 /CNW/ - Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW) (NYSE:SLW) is pleased to announce that its Board of Directors has amended the Company's dividend policy in order to increase the stability of the dividend. Commencing immediately, the quarterly dividend per common share will be equal to 20% of the average cash generated by operating activities in the previous four quarters divided by the Company's outstanding common shares at the time the dividend is approved, all rounded to the nearest cent.

As a transitionary measure, however, the second quarterly dividend being announced today has been calculated using the average cash generated by operating activities for the trailing two quarters (fourth quarter of 2012 and first quarter of 2013). The third quarterly dividend in 2013 will be calculated using the average cash generated by operating activities for the trailing three quarters (fourth quarter 2012, first quarter 2013 and second quarter 2013), after which future quarterly dividends will be calculated using the average cash generated by operating activities for the trailing four quarters.

Based on the amended policy, the Board of Directors has declared its second quarterly cash dividend for 2013 of US$0.12 per common share. The quarterly dividend will be paid to holders of its common shares as of the close of business on May 23, 2013, and will be distributed on or about May 31, 2013. Under the previous dividend policy, the payout would have been equal to 20% of the cash generated by operating activities in the first quarter of 2013, or US$0.09 per common share.

The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Fri May 10, 2013 11:45 pm » Safari 6.0.3 Safari 6.0.3  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Silver Wheaton reports a strong start to 2013 with first quarter revenues of US$205.8 million

VANCOUVER, May 10, 2013 /CNW/ - Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW) (NYSE:SLW) is pleased to announce its unaudited results for the first quarter ended March 31, 2013. All figures are presented in United States dollars unless otherwise noted.

FIRST QUARTER HIGHLIGHTS

  • Attributable silver equivalent production of 8.0 million ounces (6.3 million ounces of silver and 32,200 ounces of gold) compared to 6.7 million ounces in Q1 2012, representing an increase of 20%.
  • Silver equivalent sales of 6.9 million ounces (6.0 million ounces of silver and 16,900 ounces of gold) compared to 6.1 million ounces in Q1 2012, representing an increase of 13%.
  • Revenues of $205.8 million compared to $199.6 million in Q1 2012, representing an increase of 3%.
  • Net earnings of $133.4 million ($0.38 per share) compared to $147.2 million ($0.42 per share) in Q1 2012, representing a decrease of 9%.
  • Operating cash flows of $165.6 million ($0.47 per share1) compared to $163.8 million ($0.46 per share1) in Q1 2012, representing an increase of 1%.
  • Cash operating margin1 for the three months ended March 31, 2013 of $25.33 per silver equivalent ounce compared to $28.51 in Q1 2012.
  • Average cash costs1 rose to $4.39 per silver equivalent ounce compared with $4.08 in Q1 2012.
  • Declared quarterly dividend of $0.12 per common share as the result of an amended dividend policy whereby the quarterly dividend will be equal to 20% of the average of the previous four quarters' operating cash flow, with a gradual implementation.
  • On February 28, 2013, the Company announced that it had entered into definitive agreements to acquire from Vale S.A. ("Vale") an amount of gold equal to 25% of the life of mine gold production from its Brazilian Salobo mine, as well as 70% of the gold production, for a 20 year term, from certain of its Canadian Sudbury mines.
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Mon Jul 01, 2013 10:36 pm » Safari 6.0.5 Safari 6.0.5  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Silver Wheaton provides update on Pascua-Lama

VANCOUVER, July 1, 2013 /CNW/ - Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW) (NYSE:SLW) today provides an update on the Pascua-Lama project, on which Silver Wheaton has a silver streaming agreement with Barrick Gold Corporation ("Barrick").

As per Barrick's news release dated June 28, 2013, Barrick "has submitted a plan, subject to review by Chilean regulatory authorities, to construct the project's water management system in compliance with permit conditions for completion by the end of 2014, after which Barrick expects to complete remaining construction works in Chile, including pre-stripping. Under this scenario, ore from Chile is expected to be available for processing by mid-2016."

As part of Silver Wheaton's original contract with Barrick, Barrick has provided Silver Wheaton with a completion guarantee, requiring Barrick to complete Pascua-Lama to at least 75% of design capacity by December 31, 2015. During 2014 and 2015, Silver Wheaton will be entitled to silver production from three of Barrick's currently producing mines, the Lagunas Norte, Pierina, and Veladero mines, to the extent of any production shortfall at Pascua-Lama, until Barrick satisfies the completion guarantee.

According to the original silver purchase agreement, if the requirements of the completion guarantee have not been satisfied by an outside completion date of December 31, 2015, the agreement may be terminated by Silver Wheaton. Given the recent developments, Silver Wheaton has agreed to extend the outside completion date for Pascua-Lama to December 31, 2016. In such an event, Silver Wheaton will be entitled to the return of the upfront cash consideration of $625 million less a credit for silver delivered up to December 31, 2016. Silver deliveries from the other three mines will still end at the end of 2015, to the extent of any Pascua-Lama production shortfalls.

"As long as Barrick is still advancing construction of Pascua-Lama at the end of 2015, Silver Wheaton does not intend to cancel the silver stream", said Randy Smallwood, Silver Wheaton's President and Chief Executive Officer. "We are in regular contact with Barrick, and are confident that all the right measures are being taken to achieve production at this mine. Pascua-Lama is a world class gold and silver deposit and will be a world class mine once it begins production."

Silver Wheaton has revised its 2017 production forecast to 49 million silver equivalent ounces from 53 million to reflect the delay at Pascua-Lama. Production for 2013 is still expected to be 33.5 million silver equivalent ounces.

Patrick Drouin
Vice President, Investor Relations
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Fri Sep 20, 2013 8:38 am » Safari 6.0.5 Safari 6.0.5  Mac OS X Mac OS X  Screen Resolution: 1920 x 1200 1920 x 1200

A rather expressionless but good explanation of why SLW is the best way to play the miners.

Watch on youtube.com
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Wed Nov 19, 2014 12:36 pm » Safari 8.0 Safari 8.0  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

Good article which explains why Silver Wheaton is under valued, compared to it's peers. It also explains the leverage it has on the silver price and gives price projections based on P/E and the silver price.

My favourite silver holding for the longterm.

Silver Wheaton And Silver Prices

Summary

  • Silver Wheaton is significantly undervalued compared to Royal Gold and Franco-Nevada.
  • Silver Wheaton has a significant growth potential even without Pascua Lama.
  • Silver Wheaton is leveraged to silver prices and should outperform it significantly.

Silver Wheaton (NYSE:SLW) is one of the three biggest precious metal streaming companies. While Royal Gold (NASDAQ:RGLD) and Franco-Nevada (NYSE:FNV) are focused on gold streams and royalties, Silver Wheaton is focused on silver. Gold accounts only for 20-25% of its sales. The expected 2014 silver equivalent production is 36 million toz.

Although the company is profitable even at the current silver price, its share price was negatively impacted by silver price declines during the last months. But due to its business model the total cash costs are $4.15/toz of silver, which results in significant profit margins. The graph below shows that SLW is able to outperform silver as well as gold significantly during the long-term...


Image
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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Thu Mar 19, 2015 12:02 am » Safari 8.0.3 Safari 8.0.3  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

The Company has previously implemented a Dividend Reinvestment Plan ("DRIP"). Participation in the DRIP is optional. For the purposes of the first quarterly dividend, the Company has elected to issue common shares under the DRIP through treasury at a 3% discount to the Average Market Price, as defined in the DRIP. However, the Company may, from time to time, in its discretion, change or eliminate the discount applicable to Treasury Acquisitions, as defined in the DRIP, or direct that such common shares be purchased in Market Acquisitions, as defined in the DRIP, at the prevailing market price, any of which would be publicly announced.

The DRIP and enrollment forms are available for download on the Company's website at www.silverwheaton.com, accessible by quick links directly from the home page, and can also be found in the 'investors' section, under the 'dividends' tab.

Registered shareholders may also enroll in the DRIP online through the plan agent's self-service web portal at: https://www.canstockta.com/en/InvestorS ... yCode=1501.

Beneficial shareholders should contact their financial intermediary to arrange enrollment. All shareholders considering enrollment in the DRIP should carefully review the terms of the DRIP and consult with their advisors as to the implications of enrollment in the DRIP.
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Re: Silver Wheaton (TSE:SLW)

Postby Acton Boy » Fri Jul 17, 2015 11:42 am » Safari Mobile 8.0 Safari Mobile 8.0  iPad iPad  Screen Resolution: 768 x 1024 768 x 1024

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Re: Silver Wheaton (TSE:SLW)

Postby Pixel8r » Thu May 11, 2017 6:53 am » Safari 10.0.3 Safari 10.0.3  Mac OS X Mac OS X  Screen Resolution: 2560 x 1440 2560 x 1440

Silver Wheaton Changes Name to Wheaton Precious Metals

VANCOUVER, May 10, 2017 /CNW/ - Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW) (NYSE:SLW) is pleased to announce that it has filed Articles of Amendment to change its name to Wheaton Precious Metals Corp. ("Wheaton Precious Metals"). Shareholders approved a special resolution to change the name at the Company's Annual and Special Meeting of Shareholders held on May 10, 2017.

The change of name to Wheaton Precious Metals is effective May 10, 2017. Concurrently, the Company's wholly owned subsidiary, Silver Wheaton (Caymans) Ltd. will change its name to Wheaton Precious Metals International Ltd.

It is anticipated that the Company will commence trading under the symbol "WPM" on the TSX and NYSE effective on or about the opening of trading on May 16, 2017.

"Changing our name to Wheaton Precious Metals marks our evolution from a pure silver streaming company to a diversified precious metals streaming company. Since 2004, the company has focused on building the best portfolio of precious metals streams underpinned by low-cost mining operations. Starting in 2013, the opportunities have been more focused on gold, and thus, our portfolio is now relatively balanced between silver and gold. We are excited about this new identity, which better reflects our underlying operations and still respects our history," said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton.
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