With the addition of two new gold metal streams, Silver Wheaton is also pleased to present its updated one and five-year production guidance. In 2013 attributable silver equivalent production is forecast to be 33.5 million silver equivalent ounces, including 145 thousand ounces of gold [ 1]. In 2017, annual attributable production is anticipated to increase over 80% compared to 2012 levels, growing to approximately 53 million silver equivalent ounces, including 180 thousand ounces of gold [ 1].
The addition of Sudbury and Salobo to our portfolio more than offsets the anticipated reduction in attributable production from some of the other assets in Silver Wheaton's current streaming portfolio in 2017. Hudbay Minerals' Constancia mine is expected to meet the completion test well before 2016, resulting in gold production from the 777 mine attributable to Silver Wheaton dropping from 100% to 50%. In addition, the 10-year term contract on Capstone Mining's Cozamin mine, acquired with Silver Wheaton's 2009 acquisition of Silverstone, expires in April 2017.
Mr. Neil Burns, Silver Wheaton's Vice President, Technical Services, is a "qualified person" as such term is defined under National Instrument 43-101, and has reviewed and approved the technical disclosure in this news release.
____________________________ [ 1] Silver equivalent production forecast assumes a gold/silver ratio of 53.3:1CONFERENCE CALL A conference call, along with an interactive presentation, will be held on Wednesday February 6, starting at 11:00am (Eastern Time) to discuss this transaction. To participate in the live call please use one of the following methods:
Dial toll free from Canada or the US: 1-888-390-0546 Dial from outside Canada or the US: 1-416-764-8688 Pass code: 60136108 Live audio webcast: http://www.silverwheaton.comParticipants should dial in five to ten minutes before the call.