Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Wheaton River Minerals (WRM Toronto) -- Ignore unavailable to you. Want to Upgrade?

To: Grislee bear who wrote (242)	1/28/2000 10:53:00 AM
From: mr. ed	Respond to of 350

Thursday January 27, 4:41 pm Eastern Time Company Press Release Wheaton River President Receives Award for Excellence in Mine Development TORONTO, ONTARIO--Wheaton River Minerals Ltd. is pleased to announce that J. John Kalmet, President and Chief Operating Officer, has been awarded the E.A. Scholz Award from the British Columbia and Yukon Chamber of Mines. The prestigious award is presented annually to honour excellence in mine development. Mr. Kalmet was chosen for his leadership role in the development of the Golden Bear heap leach gold mine in northwestern British Columbia. The Golden Bear mine is owned and operated by North American Metals Corp., an 89% owned subsidiary of Wheaton River. Mr. Kalmet joined Wheaton River in 1995 and was instrumental in reopening the mine as a heap leach operation in 1997. Golden Bear was the first (and remains the only) heap leach mine in British Columbia. The mine has significantly exceeded original feasibility estimates for gold production, at a lower than forecast cost per ounce, in each of its three years of operation. John Kalmet graduated in 1961 with a degree in mining engineering from the University of Toronto. He joined INCO after graduation and subsequently spent 25 years with the Noranda group of companies, including a period from 1983-89 as General Manager, Western Canada when he was responsible for the operation of five mines. He then spent three years with the Canamax group and four years as a consultant to the mining industry. He joined Wheaton River just as the company was commencing the permitting and financing stage of the Golden Bear heap leach mine, and has been responsible for operations since that time. ''John Kalmet has been one of the driving forces in transforming Wheaton River into a profitable gold mining company and it is wonderful that a prominent group such as the Chamber of Mines has taken notice,'' says Ian McDonald, Chairman and Chief Executive Officer of Wheaton River. Contact: Ian J. McDonald, Chairman and Chief Executive Officer Kerry J. Knoll, Vice-President, Investor Relations (416) 860-0919 or Renmark Financial Communications (514) 939-3989 Website: www.renmarkfinancial.com

To: Grislee bear who wrote (242)	2/4/2000 3:23:00 PM
From: mr. ed	Respond to of 350

Friday February 4, 2:30 pm Eastern Time Company Press Release Wheaton River Advances Financing for Bellavista TORONTO, ONTARIO--Wheaton River Minerals Ltd. is pleased to announce that it has received an indicative term sheet from Barclays Bank PLC for a US$19 million limited recourse project finance facility for the company's 100% owned Bellavista gold project in Costa Rica. The Barclays facility will constitute the largest portion of the Bellavista production financing package, and is subject to a number of conditions including legal and technical due diligence, finalization of fees and rates, adequate gold hedging, and final credit approval. Wheaton River intends to arrange US$3-$5 million of additional financing through either a subordinate debt facility or a loan/lease for the project's mining equipment. Discussions are underway on this facility. It is expected that all necessary funding commitments will be secured by the end of March, 2000, at which time a production decision will be made. Construction costs at Bellavista are estimated to be US$28 million, not including preproduction, financing and working capital. Wheaton River ended 1999 with C$12.3 million in cash. This cash, together with anticipated cash flow from the company's Golden Bear mine and the above noted debt facilities, are expected to be adequate to finance construction of the Bellavista mine. The company's current Bellavista project schedule calls for on-site construction and mine development work to begin in November 2000 and production to commence at the end of 2001. Based on the feasibility study completed in April 1999, the Bellavista mine is projected to produce an average of 60,000 ounces of gold over a 7.3 year mine life with total cash operating costs, including royalties, of US$179 per ounce. The feasibility study recommends that Bellavista be developed utilizing open-pit mining and grind agglomeration heap leach processing at the rate of 5,750 tonnes of ore per day. Since acquiring the project in 1997, Wheaton River has spent more than US$6 million on acquisition and development of Bellavista. The company is working with Costa Rican government agencies to finalize all construction and operating permits and other regulatory issues. Contact: Wheaton River Minerals Ltd. Ian J. McDonald, Chairman and C.E.O. Kerry Knoll, Vice-President, Investor Relations (416) 860-0919 (416) 367-0182 Website: www.wheatonriver.com or Renmark Financial Communications (514) 939-3989 website: www.renmarkfinancial.com