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Wheaton Precious Metals Announces Proposed Precious Metals Stream With Caldas Gold on the Marmato Project
Wheaton Precious Metals Announces Proposed Precious Metals Stream With Caldas Gold on the ...
About this update from Wheaton Precious Metals Corp
[{"type":"text","content":"\n\n\n\nWheaton Precious Metals Announces Proposed Precious Metals Stream With Caldas Gold on the Marmato Project\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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, June 22, 2020\n\n\n\nTSX: WPMNYSE: WPM\n VANCOUVER, BC, June 22, 2020 /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 signed a non-binding term sheet with Caldas Gold Corp. ( \"Caldas Gold\") (TSX-V: CGC) to enter into a Precious Metals Purchase Agreement (the \"Precious Metals Stream\") for the Marmato Project located in Colombia. 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\"Wheaton is excited to partner with Caldas Gold in developing the Marmato Project. The strength and potential upside of this project was especially apparent during our onsite due diligence trip, prior to travel restrictions being put into place,\" said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals. \"We remain unwavering in our focus on delivering the highest quality portfolio of precious metals production to our shareholders through our top tier asset base, strong organic growth profile and acquisition of accretive growth opportunities such as Marmato. As can be seen, Wheaton continues to be very active on the corporate development front despite limitations resulting from the current global COVID-19 pandemic.\"\nUpon entering into the Precious Metals Stream, 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 ...