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Silver Wheaton Reports Record Production For The Third Quarter And First Nine Months Of 2013

Stocks in this article: SLW

The Company currently has ten reportable operating segments: the silver produced by the San Dimas, Yauliyacu, Peñasquito, Barrick and Other mines, the gold produced by the Minto, 777, Sudbury and Salobo mines, and corporate operations.

                                       Three Months Ended September 30, 2013

                                                               Average       Average
                                                               Realized       Cash
                                                                Price         Cost
                           Ounces      Ounces                  ($'s Per     ($'s Per
                         Produced[2]    Sold       Sales        Ounce)      Ounce)[3]
    Silver
            San Dimas
            [4]                1,660    1,560     $  33,856      $ 21.70       $  4.16
            Yauliyacu            639       13           260        20.02          4.12
            Peñasquito         1,636    1,388        27,815        20.03          4.02
            Barrick
            [5]                  465      447        10,250        22.93          3.90
            Other [6]          2,418    2,257        48,074        21.30          4.22
                               6,818    5,665     $ 120,255      $ 21.22       $  4.13
    Gold
            Minto              2,894    5,287     $   6,944      $ 1,313       $   306
            777               18,259   16,972        22,040        1,299           400
            Sudbury            5,575    6,534         8,636        1,322           400
            Salobo             8,061    6,490         8,530        1,314           400
                              34,789   35,283     $  46,150      $ 1,308       $   386
    Silver equivalent
    [7]                        8,948    7,828     $ 166,405      $ 21.26       $  4.73
    Corporate
    General and
    administrative
    Other
    Total corporate
                               8,948    7,828     $ 166,405      $ 21.26       $  4.73  

    (table continued)


                                         Three Months Ended September 30, 2013

                                Average
                               Depletion                      Cash Flow
                               ($'s Per          Net            From
                                Ounce)        Earnings       Operations     Total Assets
    Silver
            San Dimas
            [4]                $  0.82      $   26,089       $  27,361     $   159,180
            Yauliyacu             5.75             132             207         211,151
            Peñasquito            2.96          18,119          22,233         476,473
            Barrick
            [5]                   3.31           7,026           5,541         599,993
            Other [6]             4.07          29,371          35,157         556,224
                               $  2.85      $   80,737       $  90,499     $ 2,003,021
    Gold
            Minto              $   115      $    4,716       $   5,254     $    28,440
            777                    802           1,647          15,252         292,763
            Sudbury                829             605           6,023       1,325,726
            Salobo                 462           2,937           5,934         614,889
                               $   641      $    9,905       $  32,463     $ 2,261,818
    Silver equivalent
    [7]                        $  4.95      $   90,642       $ 122,962     $ 4,264,839
    Corporate
    General and
    administrative                          $  (9,390)
    Other                                      (4,195)
    Total corporate                         $ (13,585)       $ (4,290)     $   133,606
                               $  4.95      $   77,057       $ 118,672     $ 4,398,445
    1) All figures in thousands except gold ounces produced and sold and per
       ounce amounts.
    2) Ounces produced represent the quantity of silver and gold contained in
       concentrate or doré prior to smelting or refining deductions.
       Production figures are based on information provided by the operators
       of the mining operations to which the silver or gold interests relate
       or management estimates in those situations where other information is
       not available. Certain production figures may be updated in future
       periods as additional information is received.
    3) Refer to discussion on non-IFRS measures at the end of this press
       release.
    4) Results for San Dimas include 375,000 ounces received from Goldcorp in
       connection with Goldcorp's four year commitment to deliver to Silver
       Wheaton 1.5 million ounces of silver per annum resulting from their
       sale of San Dimas to Primero.
    5) Comprised of the operating Lagunas Norte, Pierina and Veladero silver
       interests in addition to the non-operating Pascua-Lama silver interest.
    6) Comprised of the operating Los Filos, Zinkgruvan, Keno Hill, Mineral
       Park, Cozamin, Neves-Corvo, Stratoni, Campo Morado, Minto, 777 and
       Aljustrel silver interests in addition to the non-operating Rosemont
       silver and gold interest and Loma de La Plata and Constancia silver
       interests.
    7) Gold ounces produced and sold are converted to a silver equivalent
       basis based on either (i) the ratio of the average silver price
       received to the average gold price received during the period from the
       assets that produce both gold and silver; or (ii) the ratio of the
       price of silver to the price of gold on the date of sale as per the
       London Bullion Metal Exchange for the assets which produce only gold.
                                          Three Months Ended September 30, 2012
                                                                 Average       Average
                                                                 Realized       Cash
                                                                  Price         Cost
                             Ounces      Ounces                  ($'s Per     ($'s Per
                           Produced[2]    Sold       Sales        Ounce)      Ounce)[3]
    Silver
          San Dimas [4]          1,288    1,178     $  37,565      $ 31.90       $  4.12
          Yauliyacu                640      184         5,378        29.23          4.08
          Peñasquito             1,940    1,304        40,431        30.99          3.99
          Barrick [5]              617      528        15,752        29.85          3.90
          Other [6]              2,251    1,592        49,960        31.39          4.05
                                 6,736    4,786     $ 149,086      $ 31.16       $  4.04
    Gold
          Minto                  5,200    6,905     $  12,187      $ 1,765       $   303
          777                   11,824        -             -            -             -
                                17,024    6,905     $  12,187      $ 1,765       $   303
    Silver equivalent
    [7]                          7,617    5,143     $ 161,273      $ 31.36       $  4.16
    Corporate
          General and
          administrative
          Other
    Total corporate
                                 7,617    5,143     $ 161,273      $ 31.36       $  4.16

    (table continued)

                                           Three Months Ended September 30, 2012

                               Average
                              Depletion                     Cash Flow
                             ($'s Per         Net            From            Total
                               Ounce)        Earnings      Operations        Assets
    Silver
          San Dimas [4]        $  0.79      $  31,776       $  32,710     $   164,227
          Yauliyacu               5.02          3,704           2,181         220,799
          Peñasquito              2.96         31,364          35,226         492,132
          Barrick [5]             4.34         11,404          13,425         601,187
          Other [6]               3.32         38,238          39,570         464,681
                               $  2.78      $ 116,486       $ 123,112     $ 1,943,026
    Gold
          Minto                $   171      $   8,917       $   8,930     $    31,418
          777                        -              -               -         354,364
                               $   171      $   8,917       $   8,930     $   385,782
    Silver equivalent
    [7]                        $  2.81      $ 125,403       $ 132,042     $ 2,328,808
    Corporate
          General and
          administrative                    $ (6,762)
          Other                                 1,056
    Total corporate                         $ (5,706)       $ (3,391)     $   717,756
                               $  2.81      $ 119,697       $ 128,651     $ 3,046,564

    1) All figures in thousands except gold ounces produced and sold and per
       ounce amounts.
    2) Ounces produced represent the quantity of silver and gold contained in
       concentrate or doré prior to smelting or refining deductions.
       Production figures are based on information provided by the operators
       of the mining operations to which the silver or gold interests relate
       or management estimates in those situations where other information is
       not available. Certain production figures may be updated in future
       periods as additional information is received.
    3) Refer to discussion on non-IFRS measures at the end of this press
       release.
    4) Results for San Dimas include 375,000 ounces received from Goldcorp in
       connection with Goldcorp's four year commitment to deliver to Silver
       Wheaton 1.5 million ounces of silver per annum resulting from their
       sale of San Dimas to Primero.
    5) Comprised of the operating Lagunas Norte, Pierina and Veladero silver
       interests in addition to the non-operating Pascua-Lama silver interest.
    6) Comprised of the operating Los Filos, Zinkgruvan, Keno Hill, Mineral
       Park, Cozamin, Neves-Corvo, Stratoni, Campo Morado, Minto, 777 and
       Aljustrel silver interests in addition to the non-operating Rosemont
       silver and gold interest and Loma de La Plata and Constancia silver
       interests.
    7) Gold ounces produced and sold are converted to a silver equivalent
       basis based on either (i) the ratio of the average silver price
       received to the average gold price received during the period from the
       assets that produce both gold and silver; or (ii) the ratio of the
       price of silver to the price of gold on the date of sale as per the
       London Bullion Metal Exchange for the assets which produce only gold.

Non-IFRS Measures

5 of 7

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