Incorporated in 2004, Silver Wheaton Corp.
, which is a Canada-based company with top headquarters in Vancouver, is a prominent player in the world silver market. Silver Wheaton
(“the Company”) invests in operations of exploration and development silver companies, which have discovered some resources; in exchange, the Company receives contractual rights to buy the silver production of the exploration and development companies at a fixed price and in a future time period. As a top silver streaming company, at present, for full year 2009, Silver Wheaton’s forecasted sales are up to 18 million ounces of silver per year. A corporate goal of Silver Wheaton is to reach a total sale of 31 million silver equivalent ounces per year by 2013. This public Company is listed under the symbol SLW on the American Stock Exchange and the Toronto Stock Exchange. The miner is a tier I producer. The Company is well-positioned for future expansion and its key competitive advantages include: high-quality, low cost assets in politically stable regions around the world; freedom to increase margin in the price of silver, if necessary, and very strong forecasted organic sales for the next years.
In 2004, Silver Wheaton Corp. made its first trade agreement with Goldcorp with regard to the purchase of silver produce at $3.90. Currently, the Company has nine long-term agreements for the purchase of silver with the following business entities: Goldcorp Inc. (Luismin and Penasquito units, Mexico); Lundin Mining Corp. (Zinkgruvan unit, Sweden), Glencore International AG (Yauliyacu unit, Peru), Hellas Gold S.A.(Stratoni unit, Greece), Mercator Minerals Ltd. (Mineral Park unit, Arizona, the United States), Farallon Mining Ltd (Campo Morado unit, Mexico), Aurcana Corporation (La Negra unit, Mexico), and Alexco Resource Corp. (Keno Hill property in Canada). In May 2009, Silver Wheaton reported the complete acquisition of Silverstone Resources Corp., a corporation engaged in the acquisition, development and exploration of mineral properties, mainly gold and silver, as well as some minor diamond resources in Mexico. Of all the properties operated by Silver Wheaton Corporation, Keno Hill, Navidad and Aljustrel are development projects; the rest of the sites represent operating mines.
Silver Wheaton Corp. holds 25 percent interest in silver production during the full mine life of the Keno Hill project, pursuant to its’ agreement with Alexco Resource. The average grade for produce from the project is reportedly in excess of 40 ounces per ton of silver. Thus, the project stands as one of the highest-grade historic silver produce all over the world. The underground drill program, conducted in 2009, also confirmed the extremely high grade for silver. There is a surface exploration program scheduled for 2009, as well. Overall, despite being developed for over 75 years, the Keno Hill development project stores a great deal of potential in itself.
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