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Wheaton Precious Metals Announces Closing of the Precious Metals Stream with Caldas Gold on the Marmato Project
Wheaton Precious Metals Announces Closing of the Precious Metals Stream with Caldas Gold ...
About this update from Wheaton Precious Metals Corp
[{"type":"text","content":"\n \n \n \n Wheaton Precious Metals Announces Closing of the Precious Metals Stream with Caldas Gold on the Marmato Project\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Nov. 5, 2020\n \n \n \n \n TSX: WPM\n \n NYSE: WPM\n \n LSE: WPM\n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 5, 2020\n \n /CNW/ - Wheaton Precious Metals™ Corp. (\"Wheaton\" or the \"Company\") is pleased to announce that its wholly-owned subsidiary, Wheaton Precious Metals International Ltd. (\"Wheaton International\") has entered into a definitive Precious Metals Purchase Agreement (the \"Precious Metals Stream\") with Caldas Gold Corp. ( \"Caldas Gold\") (TSX-V: CGC) in respect to the Marmato Project located in\n \n Colombia\n \n . The Marmato Project comprises an operating Upper Mine and the Marmato Deeps Zone (\"MDZ\") development, both of which are covered by the Precious Metals Stream.\n \n \n Wheaton International will purchase 6.5% of the gold production and 100% of the silver production until 190,000 ounces of gold and 2.15 million ounces of silver have been delivered, after which the stream drops to 3.25% of the gold production and 50% of the silver production for the life of mine. Under the proposed Precious Metals Stream, Wheaton International will pay a total cash consideration of\n \n US$110 million\n \n ,\n \n US$38 million\n \n of which is payable within six months subject to customary conditions, and the remaining portion of which is payable during the construction of the MDZ project subject to receipt of required permits and licenses, sufficient financing having been obtained to cover total expected capital expenditures, and other customary conditions. In addition, Wheaton International will make ongoing payments equal to 18% of the spot gold and silver price until the uncredited portion of the upfront payment is reduced to zero, and 22% of the spot gold and silver price thereafter. The Precious Metals Stream is effective\n \n July 1, 2020\n \n .\n \n \n \n Caldas Gold\n \n is committed to supporting the communities in whic...