[SLW] Silver Wheaton Corp.
Silver Wheaton to Acquire Increased Silver Production from Goldcorp of More Than 100 Million Ounces Over 24 Years, Increasing Annual Silver Sales to 15 Million Ounces by 2009
Monday February 13, 7:01 pm ET
biz.yahoo.com
VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 13, 2006--Silver Wheaton Corp. (TSX:SLW - News; AMEX:SLW - News) is pleased to announce that Silver Wheaton and Goldcorp Inc. ("Goldcorp") have agreed to amend their existing silver purchase agreement in connection with Goldcorp's plans to substantially increase its investment in exploration and development at its San Dimas mine in Mexico. As a result of the planned exploration and development at San Dimas, Silver Wheaton and Goldcorp anticipate that additional silver sales will aggregate more than 100 million ounces over the remaining 24 year term of the silver purchase agreement. It is projected that Silver Wheaton's annual silver sales will increase to approximately 11.5 million ounces for 2006, 2007 and 2008, increasing to 15 million ounces per annum thereafter.
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Silver Wheaton Corp.: Fourth Quarter Net Earnings Quadruple to US$7.0 Million, US$0.04 per Share
Monday February 13, 7:09 pm ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 13, 2006--Silver Wheaton Corp. (TSX:SLW - News; AMEX:SLW - News) -
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FOURTH QUARTER HIGHLIGHTS
- Net earnings of US$7.0 million (US$0.04 per share) for the three months from the sale of 2.2 million ounces of silver (four months ended December 31, 2004 - net earnings of US$1.8 million (US$0.02 per share) from the sale of 1.5 million ounces).
- Operating cash flows of US$7.7 million (US$0.05 per share), compared to US$8.4 million (US$0.09 per share) in 2004.
- Cash and cash equivalents at December 31, 2005 of US$117.7 million and working capital of US$118.7 million (December 31, 2004 - US$20.0 million and US$18.1 million, respectively).
- In December, 2005, the Company raised gross proceeds of US$86 million by way of public offering.
- The Company is debt free, unhedged and seeking further acquisitions.
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