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Wheaton acquires $670m gold stream on Nevada project
Canadian streaming company Wheaton Precious Metals said on Thursday that it had acquired a gold stream worth $670-million on the Spring Valley project in Nevada, following an agreement with Waterton Gold. The deal, one of Wheaton’s largest recent transactions, strengthens its North American portfolio with exposure to a large-scale, low-cost heap-leach gold project now fully funded for construction. Wheaton’s wholly owned subsidiary will pay the upfront consideration in installments as conditions are met. Under the terms, Wheaton will receive 8% of payable gold until 300 000 oz have been delivered, and 6% ... (full story)
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