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TheStreet Open House

Silver Wheaton Acquires Life Of Mine Precious Metals Streams From Hudbay's 777 Mine And Constancia Project

Stocks in this article: HBMSLW

Silver Wheaton is the largest silver streaming company in the world. Based upon its current agreements, forecast 2012 attributable production is approximately 28 million silver equivalent ounces, including 42,000 thousand ounces of gold [ 4 ]. By 2016, annual attributable production is anticipated to increase significantly to approximately 48 million silver equivalent ounces, including 100,000 thousand ounces of gold [ 1 ]. This growth is driven by the Company's portfolio of low-cost and long-life assets, including silver and precious metal streams on Barrick's Pascua-Lama project and Hudbay's flagship 777 mine and Constancia project. 

[ 1 ] Silver equivalent production forecast assumes a gold/silver ratio of 50:1

Silver Wheaton's updated silver reserves and resources are as follows:

ATTRIBUTABLE PROVEN AND PROBABLE RESERVES (1,2,3,8,16,17) AS OF DECEMBER 31, 2011 UNLESS OTHERWISE NOTED (6)

 
     As of December 31, 2011
    unless otherwise noted(6)          Proven                 Probable
                               Tonnage Grade Contained Tonnage Grade Contained
                                 Mt     g/t     Moz      Mt     g/t     Moz
    SILVER
 
    Peñasquito (25%)
                          Mill   156.6  28.9     145.5   129.3  20.2      83.8
                    Heap Leach     8.3  14.4       3.9    23.0   9.4       6.9
    San Dimas(10)                    -     -         -     3.5 281.5      31.8
    Pascua-Lama (25%)              9.9  59.5      18.9    86.3  54.1     150.2
    Lagunas Norte(11)              3.3   3.2       0.3    37.6   3.2       3.9
    Pierina(11)                    2.1  19.9       1.3    18.9  10.8       6.6
    Veladero(11)                   3.7  13.4       1.6    61.3  13.4      26.5
    Yauliyacu(12)                  1.0  99.6       3.3     2.7 105.9       9.1
    777 (13)                       4.9  26.8       4.2     7.5  27.9       6.7
    Neves-Corvo
                        Copper    23.2  44.0      32.9     4.5  45.0       6.5
                          Zinc    19.4  67.0      41.7     3.8  64.0       7.8
    Rosemont(14)                 128.8   4.5      18.5   366.8   3.8      44.5
    Constancia                   359.0   3.3      38.3    91.0   3.6      10.6
    Mineral Park(14)             293.9   2.7      25.7    74.5   2.9       7.0
    Zinkgruvan
                          Zinc     8.2 103.0      27.2     2.4  60.0       4.7
                        Copper     2.8  32.0       2.8     0.1  29.0       0.1
    Aljustrel
                        Copper     2.2  19.2       1.3     8.4  15.3       4.1
    Campo Morado (75%)             0.7 166.7       3.8     0.1 123.4       0.3
    Stratoni                       1.7 174.0       9.3     0.1 225.0       0.7
    Minto                          5.5   5.4       1.0     5.9   4.6       0.9
    Cozamin(15)
                        Copper     0.9  63.0       1.7     4.9  50.7       8.0
    Los Filos                     81.0   5.2      13.5   231.2   5.4      40.2
 
    TOTAL SILVER                                 396.5                   460.8
    GOLD
    777 (13)                       4.9  1.97      0.31     7.5  1.82      0.44
    Minto                          5.5  0.69      0.12     5.9  0.51      0.10
    TOTAL GOLD                                    0.43                    0.53
 

Table Continued Below

 
    As of December 31, 2011 unless   
          otherwise noted(6)                  Proven & Probable
                                                                  Process
                                     Tonnage    Grade Contained  Recovery(7)
                                        Mt       g/t     Moz          %
    SILVER
 
    Peñasquito (25%)
                              Mill        285.9  24.9     229.3   53-65%
                        Heap Leach         31.4  10.7      10.8      24%
    San Dimas(10)                           3.5 281.5      31.8      94%
    Pascua-Lama (25%)                      96.2  54.7     169.1      82%
    Lagunas Norte(11)                      40.9   3.2       4.2      22%
    Pierina(11)                            21.0  11.8       8.0      37%
    Veladero(11)                           65.0  13.4      28.1       6%
    Yauliyacu(12)                           3.7 104.2      12.4      85%
    777 (13)                               12.4  27.4      10.9      63%
    Neves-Corvo
                            Copper         27.7  44.2      39.4      35%
                              Zinc         23.1  66.5      49.5      23%
    Rosemont(14)                          495.6   3.9      62.9      80%
    Constancia                            450.0   3.4      48.8      72%
    Mineral Park(14)                      368.4   2.8      32.6      49%
    Zinkgruvan
                              Zinc         10.7  93.1      31.9      70%
                            Copper          2.8  31.9       2.9      78%
    Aljustrel
                            Copper         10.6  16.1       5.5      30%
    Campo Morado (75%)                      0.8 162.6       4.1      55%
    Stratoni                                1.8 177.0      10.0      84%
    Minto                                  11.4   5.0       1.8      80%
    Cozamin(15)
                            Copper          5.8  52.5       9.8      74%
    Los Filos                             312.2   5.3    53.610       5%
 
    TOTAL SILVER                                          857.4
    GOLD
    777 (13)                               12.4  1.88      0.75      72%
    Minto                                  11.4  0.60      0.22      74%
    TOTAL GOLD                                             0.97
 

ATTRIBUTABLE MEASURED & INDICATED RESOURCES (1,2,3,4,5,9,16,17) AS OF DECEMBER 31, 2011 UNLESS OTHERWISE NOTED (6)

 
     As of December 31, 2011
    unless otherwise noted(6)         Measured                Indicated
                               Tonnage Grade Contained Tonnage Grade Contained
                                 Mt     g/t     Moz      Mt     g/t     Moz
    SILVER
 
    Peñasquito (25%)
                          Mill    34.1  13.1      14.4   128.2  12.4      51.1
                    Heap Leach     1.0   4.6       0.2     6.2   3.9       0.8
    Pascua-Lama (25%)              5.3  24.5       4.2    55.9  23.4      42.1
    Yauliyacu(12)                  0.7 108.5       2.5     6.1 192.4      37.8
    Neves-Corvo
                        Copper    15.4  53.0      26.2     3.4  51.2       5.6
                          Zinc    42.7  54.3      74.6    14.5  49.5      23.0
    Rosemont(14)                   7.2   3.9       0.9   103.0   2.7       8.8
    Constancia                   119.0   2.3       8.6   344.0   2.0      21.9
    Mineral Park(14)             101.0   2.6       8.4   175.6   2.7      15.2
    Zinkgruvan
                          Zinc     0.9 123.4       3.8     3.3 109.5      11.5
                        Copper     2.7  24.4       2.1     0.1  38.5       0.1
    Aljustrel
                          Zinc     1.3  65.6       2.7    20.5  60.3      39.7
                        Copper       -     -         -     0.1  11.7      0.04
    Campo Morado (75%)             2.1 162.1      10.8     4.4 158.0      22.5
    Loma de La Plata (12.5%)         -     -         -     3.6 169.0      19.8
    Minto                          9.4   3.9       1.2    27.2   3.2       2.8
    Keno Hill (25%)
                   Underground       -     -         -     0.3 545.4       4.5
                 Elsa Tailings       -     -         -     0.6 119.0       2.4
    Los Filos                      7.9   9.5       2.4    42.7   7.2       9.9
 
    TOTAL SILVER                                 162.9                   319.4
    GOLD
    Minto                          9.4  0.44      0.13    27.2  0.28      0.24
    TOTAL GOLD                                    0.13                    0.24

Table Continued Below

 
    As of December 31, 2011 unless otherwise    
                    noted(6)                             Measured & Indicated
                                                       Tonnage Grade  Contained
                                                          Mt     g/t       Moz
    SILVER
 
    Peñasquito (25%)
                                        Mill             162.3  12.6      65.5
                                  Heap Leach               7.2   4.0       0.9
    Pascua-Lama (25%)                                     61.2  23.5      46.3
    Yauliyacu(12)                                          6.8 183.5      40.3
    Neves-Corvo
                                      Copper              18.8  52.7      31.8
                                        Zinc              57.2  53.1      97.6
    Rosemont(14)                                         110.2   2.7       9.7
    Constancia                                           463.0   2.1      30.5
    Mineral Park(14)                                     276.6   2.7      23.6
    Zinkgruvan
                                        Zinc               4.2 112.6      15.2
                                      Copper               2.8  24.9       2.2
    Aljustrel
                                        Zinc              21.8  60.7      42.4
                                      Copper               0.1  11.7      0.04
    Campo Morado (75%)                                     6.5 159.3      33.2
    Loma de La Plata (12.5%)                               3.6 169.0      19.8
    Minto                                                 36.5   3.3       3.9
    Keno Hill (25%)
                                 Underground               0.3 545.4       4.5
                               Elsa Tailings               0.6 119.0       2.4
    Los Filos                                             50.6   7.6      12.4
 
    TOTAL SILVER                                                         482.3
    GOLD
    Minto                                                 36.5  0.32      0.38
    TOTAL GOLD                                                            0.38

ATTRIBUTABLE INFERRED RESOURCES (1,2,3,4,5,9,16,17) AS OF DECEMBER 31, 2011 UNLESS OTHERWISE NOTED (6)

 
     As of December 31, 2011
    unless otherwise noted(6)        Inferred
                              Tonnage Grade Contained
                                Mt     g/t     Moz
    SILVER
 
    Peñasquito (25%)
                         Mill    36.7   8.8      10.4
                   Heap Leach    14.1   1.7       0.8
    San Dimas(10)                 5.8 324.0      60.8
    Pascua-Lama (25%)             8.1  15.5       4.0
    Yauliyacu(12)                13.8 163.5      72.7
    777 (13)                      1.2  39.2       1.5
    Neves-Corvo
                       Copper    28.5  40.0      36.6
                         Zinc    33.0  55.0      58.3
    Rosemont(14)                163.0   2.1      11.2
    Constancia                  223.0   1.9      13.4
    Mineral Park(14)            320.1   2.3      23.9
    Zinkgruvan
                         Zinc     5.6  69.0      12.4
                       Copper     0.8  36.0       0.9
    Aljustrel
                         Zinc     8.7  50.4      14.0
                       Copper     4.7  16.0       2.4
    Campo Morado (75%)            2.4 117.3       9.1
    Stratoni                      0.7 217.0       4.7
    Loma de La Plata (12.5%)      0.2  76.0       0.4
    Minto                         8.5   2.9       0.8
    Keno Hill (25%)
                  Underground     0.1 340.1       1.4
    Los Filos                   158.4   5.9      29.9
 
    TOTAL SILVER                                369.5
    GOLD
    777 (13)                      1.2  1.96      0.07
    Minto                         8.5  0.24      0.07
    TOTAL GOLD                                   0.14

 

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