- The document is a presentation by Wheaton Precious Metals describing their business model of precious metals streaming.
- Wheaton provides upfront capital to mining companies in exchange for the right to purchase silver or gold produced at low fixed costs per ounce. This provides mining companies with significant funding that is non-dilutive to shareholders.
- Wheaton has a high-quality, long-life portfolio of streaming agreements that provides low-cost, diversified exposure to gold and silver production and exploration upside over the next several decades.
18 02-19 march presentation final (for web & print)silverwheaton2016
- The document discusses Wheaton Precious Metals, a company that purchases silver and gold from mining companies through streaming agreements. It provides upfront capital to mining companies in exchange for silver and gold at a discounted price in the future.
- Wheaton has a diversified portfolio of 20 operating mines and 9 development projects located around the world. It has over 25 years of mine life based on reserves and 99% of its production comes from low-cost, long-life assets.
- The company has a strong balance sheet with ample capacity for growth through acquisitions and development of existing streams. It also has a track record of production and reserve growth through exploration by its mining partners.
18 03-26 april presentation final (for web & print)silverwheaton2016
The document discusses Wheaton Precious Metals, a streaming company that provides upfront capital to mining companies in exchange for silver and gold production. It notes the benefits of streaming to mining companies, including being non-dilutive, improving project returns, and allowing mining companies to retain operational control. The document also discusses Wheaton's high-quality asset portfolio, low costs, production growth outlook, and initiatives to support communities near partner mines through its CSR program.
The document is a presentation by Wheaton Precious Metals outlining their business model. It describes Wheaton as a streaming company that provides upfront capital to mining companies in exchange for the right to purchase precious metals at discounted prices in the future. The presentation highlights the benefits of streaming for both mining companies and communities, including improving project returns, retaining operational control, and supporting CSR initiatives in local communities. It also outlines Wheaton's high-quality asset portfolio, production growth outlook, and unique dividend policy.
The document discusses Wheaton Precious Metals, a streaming company that provides upfront capital to mining companies in exchange for silver and gold production at a low fixed cost per ounce. It has a diversified portfolio of high-quality, long-life assets producing over 370,000 gold equivalent ounces annually with over 30 years of mine life remaining. Wheaton has a strong balance sheet, low production costs, and significant optionality from development projects. It also faces a C$399 million tax dispute with the CRA from 2005-2010.
16 09-13 slw presentation final (for web and print)silverwheaton2016
This document is a presentation by The High Margin Precious Metals Company from September 2016. It contains cautionary statements regarding the use of forward-looking statements and notes the risks associated with mineral reserve and resource estimates. Silver Wheaton provides concise 3-sentence summaries.
The document is a presentation by The High Margin Precious Metals Company summarizing Silver Wheaton. It notes that Silver Wheaton has a diversified, high-quality portfolio of streaming agreements, with production expected to grow 45% in gold and 55% in silver over the next five years. However, it cautions readers that forward-looking statements are subject to risks and uncertainties, and to carefully review the risk factors outlined in the presentation.
The document provides an overview of Royal Gold's October 2014 presentation. It highlights near-term growth driven by ramping production at Mt. Milligan mine. It also notes Royal Gold's $1 billion in uncommitted capital to invest in royalty/streaming opportunities and its portfolio of long-lived, high-quality assets including Peñasquito, Voisey's Bay and Cortez. The presentation concludes that Royal Gold offers strong per-share metrics and opportunities for growth but trades at a lower valuation than peers.
Scotia ceo roundtable june 25-2013- final- for scotia 3RoyalGold
Scotiabank hosted a CEO Royalty Roundtable on June 25, 2013. Royal Gold presented at the roundtable, outlining their portfolio of high-quality royalty assets, robust balance sheet, and attractive growth profile. Royal Gold expects to see a 47% increase in gold equivalent ounces from the addition of Mt. Milligan to production, and future growth from both Mt. Milligan and Pascua-Lama entering commercial production in late 2013 and post-2014, respectively. Royal Gold also highlighted their strong financial position, with substantial cash reserves and low debt.
18 02-19 march presentation final (for web & print)silverwheaton2016
- The document discusses Wheaton Precious Metals, a company that purchases silver and gold from mining companies through streaming agreements. It provides upfront capital to mining companies in exchange for silver and gold at a discounted price in the future.
- Wheaton has a diversified portfolio of 20 operating mines and 9 development projects located around the world. It has over 25 years of mine life based on reserves and 99% of its production comes from low-cost, long-life assets.
- The company has a strong balance sheet with ample capacity for growth through acquisitions and development of existing streams. It also has a track record of production and reserve growth through exploration by its mining partners.
18 03-26 april presentation final (for web & print)silverwheaton2016
The document discusses Wheaton Precious Metals, a streaming company that provides upfront capital to mining companies in exchange for silver and gold production. It notes the benefits of streaming to mining companies, including being non-dilutive, improving project returns, and allowing mining companies to retain operational control. The document also discusses Wheaton's high-quality asset portfolio, low costs, production growth outlook, and initiatives to support communities near partner mines through its CSR program.
The document is a presentation by Wheaton Precious Metals outlining their business model. It describes Wheaton as a streaming company that provides upfront capital to mining companies in exchange for the right to purchase precious metals at discounted prices in the future. The presentation highlights the benefits of streaming for both mining companies and communities, including improving project returns, retaining operational control, and supporting CSR initiatives in local communities. It also outlines Wheaton's high-quality asset portfolio, production growth outlook, and unique dividend policy.
The document discusses Wheaton Precious Metals, a streaming company that provides upfront capital to mining companies in exchange for silver and gold production at a low fixed cost per ounce. It has a diversified portfolio of high-quality, long-life assets producing over 370,000 gold equivalent ounces annually with over 30 years of mine life remaining. Wheaton has a strong balance sheet, low production costs, and significant optionality from development projects. It also faces a C$399 million tax dispute with the CRA from 2005-2010.
16 09-13 slw presentation final (for web and print)silverwheaton2016
This document is a presentation by The High Margin Precious Metals Company from September 2016. It contains cautionary statements regarding the use of forward-looking statements and notes the risks associated with mineral reserve and resource estimates. Silver Wheaton provides concise 3-sentence summaries.
The document is a presentation by The High Margin Precious Metals Company summarizing Silver Wheaton. It notes that Silver Wheaton has a diversified, high-quality portfolio of streaming agreements, with production expected to grow 45% in gold and 55% in silver over the next five years. However, it cautions readers that forward-looking statements are subject to risks and uncertainties, and to carefully review the risk factors outlined in the presentation.
The document provides an overview of Royal Gold's October 2014 presentation. It highlights near-term growth driven by ramping production at Mt. Milligan mine. It also notes Royal Gold's $1 billion in uncommitted capital to invest in royalty/streaming opportunities and its portfolio of long-lived, high-quality assets including Peñasquito, Voisey's Bay and Cortez. The presentation concludes that Royal Gold offers strong per-share metrics and opportunities for growth but trades at a lower valuation than peers.
Scotia ceo roundtable june 25-2013- final- for scotia 3RoyalGold
Scotiabank hosted a CEO Royalty Roundtable on June 25, 2013. Royal Gold presented at the roundtable, outlining their portfolio of high-quality royalty assets, robust balance sheet, and attractive growth profile. Royal Gold expects to see a 47% increase in gold equivalent ounces from the addition of Mt. Milligan to production, and future growth from both Mt. Milligan and Pascua-Lama entering commercial production in late 2013 and post-2014, respectively. Royal Gold also highlighted their strong financial position, with substantial cash reserves and low debt.
The document provides an overview of Royal Gold's October 2014 presentation. It highlights near-term growth from ramping up production at Mt. Milligan mine. It also emphasizes Royal Gold's quality portfolio with long-lived assets, focused investment criteria, and $1 billion in capital available for deals. The presentation shows Royal Gold has strong per-share metrics and opportunities for growth but also trades at a lower valuation compared to competitors.
The document is a presentation by The High Margin Precious Metals Company summarizing Silver Wheaton's business model and assets. It notes that forward-looking statements are subject to risks and uncertainties. It provides an overview of how streaming works, why it creates value for partners, and highlights Silver Wheaton's high-quality, long-life, low-cost asset portfolio which includes operating mines and development projects. Key updates are provided on several of Silver Wheaton's largest assets. The presentation also discusses Silver Wheaton's community support programs, the ongoing tax dispute with CRA, and why Silver Wheaton is an attractive investment compared to traditional miners and other streaming companies.
North American Palladium operates the Lac des Iles mine in Ontario, Canada, one of only two primary palladium mines in the world. The presentation outlines NAP's investment proposition including existing infrastructure with excess capacity, increasing production and decreasing costs, and significant exploration potential. It provides guidance for 2015 including payable palladium production of 185,000 to 205,000 ounces at a cash cost of $440 to $466 per ounce.
The document is an investor presentation for North American Palladium that provides an overview of the company and investment case. It discusses North American Palladium's Lac des Iles mine expansion which aims to increase production and lower costs. It also summarizes the palladium market fundamentals of constrained supply and rising demand driven by automotive sector growth.
Royal gold presentation egf - final screenRoyalGold
- Royal Gold provides concise summaries of key documents in 3 sentences or less.
- The document is a presentation from Royal Gold's CFO and Treasurer given at the European Gold Forum on April 5, 2017 that discusses Royal Gold's business model, margins, growth, and portfolio of streaming and royalty assets.
- The presentation highlights Royal Gold's high margins, embedded growth from recent transactions, optionality from operator activities, and track record of industry-leading returns through production growth and dividend increases.
NAP's Lac des Iles mine in Ontario, Canada is one of only two primary palladium mines in the world. The presentation discusses expanding production at LDI through mine expansion projects which offer production growth and decreasing cash costs. It also notes significant development and exploration upside at LDI and other properties to complement existing mill capacity and infrastructure. Management is experienced and aims to reduce risks through projects at LDI, which has been producing palladium for 20 years.
Sage march 2013 investor presentation currentSagegold
Sage Gold's short term plan is to develop the existing resource at their Clavos deposit to generate cash flow through near term production. A Preliminary Economic Assessment shows a robust project with a 71% pre-tax IRR. Existing infrastructure and permits are in place to begin re-opening the Clavos mine in 2013. Sage also has a JV with St Andrew Goldfields providing access to a mill and existing underground development at the Clavos property in the prolific Timmins gold camp of Ontario. The updated NI43-101 shows indicated resources of 194,600 ounces and inferred resources of 120,000 ounces of gold at the Clavos deposit.
Lake Shore Gold Corp. is a Canadian gold producer that operates the Timmins West and Bell Creek mines and milling complex in Timmins, Ontario. The presentation provides an overview of the company's operations and financial results. Key points include:
- Production guidance of 180,000 ounces of gold in 2015 at an all-in sustaining cost of less than $950 per ounce.
- 136,200 ounces were produced in the first nine months of 2015, meeting guidance.
- Cash and bullion balances increased to $88 million as of October 2015, with $26 million in free cash flow generated year-to-date.
- Exploration success has extended mine life at Timmins West and increased reserves at
This document discusses North American Palladium's investment case. It notes that NAP is a growth-oriented precious metals producer with operations in mining-friendly jurisdictions. It has the Lac des Iles palladium mine, one of only two primary palladium mines in the world, and a gold division. NAP has a pipeline of projects to increase palladium and gold production and significant exploration commitments. It also has an experienced management team and a strong balance sheet with no long-term debt.
The document provides an overview of North American Palladium's Lac des Iles palladium mine in Ontario, Canada. It discusses the constrained global palladium supply outlook and growing demand drivers. NAP's Lac des Iles mine is a world-class asset with significant exploration potential and excess processing capacity. The mine is forecast to increase production to over 200,000 ounces of palladium per year while lowering costs, leveraging existing infrastructure. Drilling programs aim to expand reserves and resources in high priority areas of the mine.
The document discusses Kirkland Lake Gold's plans to become an Ontario-focused intermediate gold producer through its acquisition of St. Andrew Goldfields. The combined company will have four mines and two mills in Ontario producing 260,000-310,000 ounces of gold annually. It will have a stronger financial position with over C$100 million in cash, improved diversification and exploration upside through consolidated land holdings. The Macassa mine is highlighted as a high-grade cornerstone asset with 1.5 million ounces of reserves grading 19.2 g/t gold.
This document discusses North American Palladium as an investment opportunity. It presents NAP as a growth-oriented precious metals producer with palladium and gold mining operations in mining-friendly jurisdictions. It notes that palladium supply is constrained, with global mine production of only 6.8 million ounces annually, while demand is increasing due to growth in the automotive sector. The document also highlights NAP's strong financial position with $95.7 million in working capital and $110 million in pro forma cash to fund development programs.
The document summarizes Royal Gold's presentation at the 2014 Denver Gold Forum. It highlights Royal Gold's growth driven by ramping up production at Mt. Milligan mine. It also notes Royal Gold's portfolio of long-lived, high-quality assets and significant capital available to pursue new investment opportunities. The document contains cautionary statements about forward-looking production estimates.
The document presents an investment case for investing in palladium mining company North American Palladium. It notes that palladium prices are forecast to rise significantly due to strong demand fundamentals and constrained mine supply. Demand is expected to continue growing from the automotive sector, while mine production is concentrated in risky jurisdictions like Russia and South Africa and unable to keep up with demand. North American Palladium offers palladium production growth through mine expansion and has an experienced management team and prudent financial position to support further development.
The document summarizes Newmarket Gold's operations and investment opportunities. Key points include:
- Newmarket Gold has three producing gold mines in Australia with solid production of over 200,000 ounces annually and declining costs.
- Their flagship Fosterville mine has shown record production, grades, and recoveries in Q3 2015 and has potential for further resource expansion.
- The Cosmo mine also achieved strong results in Q3 and has identified a new discovery that could open a new mining front.
This document is a presentation by The High Margin Precious Metals Company from March 2017. It cautions readers that forward-looking statements are subject to risks and uncertainties, and directs readers to review cautionary statements. It then provides an overview of Silver Wheaton's business model, high-quality asset base including cornerstone assets, growth strategy, partnerships, Canadian tax dispute, advantages over traditional miners and other streamers, and upside compared to ETFs/bullion.
This document provides information about Richmont Mines Inc.'s annual meeting, including:
1) It summarizes Richmont's 2011 financial and operational results, including record earnings and increased gold reserves at its operating mines.
2) It outlines Richmont's goals for 2012, which include rebuilding its share price, optimizing its Wasamac gold project, and completing an acquisition.
3) It provides an overview of Richmont's property portfolio and acquisition strategy, and summarizes recent corporate developments and Q1 2012 financial results.
This document discusses the proposed merger between Kirkland Lake Gold Ltd. (KGI) and St Andrew Goldfields Ltd. (SAS) to create an Ontario-focused intermediate gold producer. The combined company would have production from four mines and two centrally located mills in Ontario's Abitibi greenstone belt, with projected 2016 production of 260-310koz of gold. It would have a strong balance sheet with over C$100m in cash, enhanced market profile with increased analyst coverage and trading liquidity, and significant exploration upside through consolidated land holdings. The pro forma company is expected to have improved diversification and financial flexibility to generate strong cash flows as an emerging intermediate gold producer.
The document discusses PVA's transition from a natural gas producer to an oil and liquids producer through acquisitions in the Eagle Ford Shale. It has grown its oil and natural gas liquids production significantly and expanded its acreage position in the Eagle Ford. PVA's strategy is to continue developing the Eagle Ford, expanding its oil and liquids reserves and production, while retaining its substantial gas assets. This transition has shifted the value of PVA towards oil as oil and natural gas liquids prices have increased relative to natural gas prices.
- Richmont Mines reported fourth quarter and full year 2016 financial results on February 21, 2017.
- In 2016, the company achieved record annual gold production of 104,050 ounces, at the high end of guidance. Cash costs for the year were $908 per ounce sold, within guidance.
- At the Island Gold Mine, production was 83,323 ounces for 2016, exceeding the revised guidance range. Cash costs of $779 per ounce were below the revised guidance range.
- The company reported a strong cash position of $75.1 million as of December 31, 2016 and expects a growing cash flow stream to support a potential expansion at Island Gold.
Richmont Mines provides guidance for 2015, forecasting gold sales of 78,000-88,000 ounces at an all-in sustaining cost of $1,335-$1,490 per ounce. At their Island Gold Mine, located in Ontario, the company forecasts production of 45,000-50,000 ounces at an all-in sustaining cost of $1,350-$1,495 per ounce. Richmont recently discovered a high-grade zone below the Island Gold Mine containing over 1 million ounces of gold resources.
The document provides an overview of Royal Gold's October 2014 presentation. It highlights near-term growth from ramping up production at Mt. Milligan mine. It also emphasizes Royal Gold's quality portfolio with long-lived assets, focused investment criteria, and $1 billion in capital available for deals. The presentation shows Royal Gold has strong per-share metrics and opportunities for growth but also trades at a lower valuation compared to competitors.
The document is a presentation by The High Margin Precious Metals Company summarizing Silver Wheaton's business model and assets. It notes that forward-looking statements are subject to risks and uncertainties. It provides an overview of how streaming works, why it creates value for partners, and highlights Silver Wheaton's high-quality, long-life, low-cost asset portfolio which includes operating mines and development projects. Key updates are provided on several of Silver Wheaton's largest assets. The presentation also discusses Silver Wheaton's community support programs, the ongoing tax dispute with CRA, and why Silver Wheaton is an attractive investment compared to traditional miners and other streaming companies.
North American Palladium operates the Lac des Iles mine in Ontario, Canada, one of only two primary palladium mines in the world. The presentation outlines NAP's investment proposition including existing infrastructure with excess capacity, increasing production and decreasing costs, and significant exploration potential. It provides guidance for 2015 including payable palladium production of 185,000 to 205,000 ounces at a cash cost of $440 to $466 per ounce.
The document is an investor presentation for North American Palladium that provides an overview of the company and investment case. It discusses North American Palladium's Lac des Iles mine expansion which aims to increase production and lower costs. It also summarizes the palladium market fundamentals of constrained supply and rising demand driven by automotive sector growth.
Royal gold presentation egf - final screenRoyalGold
- Royal Gold provides concise summaries of key documents in 3 sentences or less.
- The document is a presentation from Royal Gold's CFO and Treasurer given at the European Gold Forum on April 5, 2017 that discusses Royal Gold's business model, margins, growth, and portfolio of streaming and royalty assets.
- The presentation highlights Royal Gold's high margins, embedded growth from recent transactions, optionality from operator activities, and track record of industry-leading returns through production growth and dividend increases.
NAP's Lac des Iles mine in Ontario, Canada is one of only two primary palladium mines in the world. The presentation discusses expanding production at LDI through mine expansion projects which offer production growth and decreasing cash costs. It also notes significant development and exploration upside at LDI and other properties to complement existing mill capacity and infrastructure. Management is experienced and aims to reduce risks through projects at LDI, which has been producing palladium for 20 years.
Sage march 2013 investor presentation currentSagegold
Sage Gold's short term plan is to develop the existing resource at their Clavos deposit to generate cash flow through near term production. A Preliminary Economic Assessment shows a robust project with a 71% pre-tax IRR. Existing infrastructure and permits are in place to begin re-opening the Clavos mine in 2013. Sage also has a JV with St Andrew Goldfields providing access to a mill and existing underground development at the Clavos property in the prolific Timmins gold camp of Ontario. The updated NI43-101 shows indicated resources of 194,600 ounces and inferred resources of 120,000 ounces of gold at the Clavos deposit.
Lake Shore Gold Corp. is a Canadian gold producer that operates the Timmins West and Bell Creek mines and milling complex in Timmins, Ontario. The presentation provides an overview of the company's operations and financial results. Key points include:
- Production guidance of 180,000 ounces of gold in 2015 at an all-in sustaining cost of less than $950 per ounce.
- 136,200 ounces were produced in the first nine months of 2015, meeting guidance.
- Cash and bullion balances increased to $88 million as of October 2015, with $26 million in free cash flow generated year-to-date.
- Exploration success has extended mine life at Timmins West and increased reserves at
This document discusses North American Palladium's investment case. It notes that NAP is a growth-oriented precious metals producer with operations in mining-friendly jurisdictions. It has the Lac des Iles palladium mine, one of only two primary palladium mines in the world, and a gold division. NAP has a pipeline of projects to increase palladium and gold production and significant exploration commitments. It also has an experienced management team and a strong balance sheet with no long-term debt.
The document provides an overview of North American Palladium's Lac des Iles palladium mine in Ontario, Canada. It discusses the constrained global palladium supply outlook and growing demand drivers. NAP's Lac des Iles mine is a world-class asset with significant exploration potential and excess processing capacity. The mine is forecast to increase production to over 200,000 ounces of palladium per year while lowering costs, leveraging existing infrastructure. Drilling programs aim to expand reserves and resources in high priority areas of the mine.
The document discusses Kirkland Lake Gold's plans to become an Ontario-focused intermediate gold producer through its acquisition of St. Andrew Goldfields. The combined company will have four mines and two mills in Ontario producing 260,000-310,000 ounces of gold annually. It will have a stronger financial position with over C$100 million in cash, improved diversification and exploration upside through consolidated land holdings. The Macassa mine is highlighted as a high-grade cornerstone asset with 1.5 million ounces of reserves grading 19.2 g/t gold.
This document discusses North American Palladium as an investment opportunity. It presents NAP as a growth-oriented precious metals producer with palladium and gold mining operations in mining-friendly jurisdictions. It notes that palladium supply is constrained, with global mine production of only 6.8 million ounces annually, while demand is increasing due to growth in the automotive sector. The document also highlights NAP's strong financial position with $95.7 million in working capital and $110 million in pro forma cash to fund development programs.
The document summarizes Royal Gold's presentation at the 2014 Denver Gold Forum. It highlights Royal Gold's growth driven by ramping up production at Mt. Milligan mine. It also notes Royal Gold's portfolio of long-lived, high-quality assets and significant capital available to pursue new investment opportunities. The document contains cautionary statements about forward-looking production estimates.
The document presents an investment case for investing in palladium mining company North American Palladium. It notes that palladium prices are forecast to rise significantly due to strong demand fundamentals and constrained mine supply. Demand is expected to continue growing from the automotive sector, while mine production is concentrated in risky jurisdictions like Russia and South Africa and unable to keep up with demand. North American Palladium offers palladium production growth through mine expansion and has an experienced management team and prudent financial position to support further development.
The document summarizes Newmarket Gold's operations and investment opportunities. Key points include:
- Newmarket Gold has three producing gold mines in Australia with solid production of over 200,000 ounces annually and declining costs.
- Their flagship Fosterville mine has shown record production, grades, and recoveries in Q3 2015 and has potential for further resource expansion.
- The Cosmo mine also achieved strong results in Q3 and has identified a new discovery that could open a new mining front.
This document is a presentation by The High Margin Precious Metals Company from March 2017. It cautions readers that forward-looking statements are subject to risks and uncertainties, and directs readers to review cautionary statements. It then provides an overview of Silver Wheaton's business model, high-quality asset base including cornerstone assets, growth strategy, partnerships, Canadian tax dispute, advantages over traditional miners and other streamers, and upside compared to ETFs/bullion.
This document provides information about Richmont Mines Inc.'s annual meeting, including:
1) It summarizes Richmont's 2011 financial and operational results, including record earnings and increased gold reserves at its operating mines.
2) It outlines Richmont's goals for 2012, which include rebuilding its share price, optimizing its Wasamac gold project, and completing an acquisition.
3) It provides an overview of Richmont's property portfolio and acquisition strategy, and summarizes recent corporate developments and Q1 2012 financial results.
This document discusses the proposed merger between Kirkland Lake Gold Ltd. (KGI) and St Andrew Goldfields Ltd. (SAS) to create an Ontario-focused intermediate gold producer. The combined company would have production from four mines and two centrally located mills in Ontario's Abitibi greenstone belt, with projected 2016 production of 260-310koz of gold. It would have a strong balance sheet with over C$100m in cash, enhanced market profile with increased analyst coverage and trading liquidity, and significant exploration upside through consolidated land holdings. The pro forma company is expected to have improved diversification and financial flexibility to generate strong cash flows as an emerging intermediate gold producer.
The document discusses PVA's transition from a natural gas producer to an oil and liquids producer through acquisitions in the Eagle Ford Shale. It has grown its oil and natural gas liquids production significantly and expanded its acreage position in the Eagle Ford. PVA's strategy is to continue developing the Eagle Ford, expanding its oil and liquids reserves and production, while retaining its substantial gas assets. This transition has shifted the value of PVA towards oil as oil and natural gas liquids prices have increased relative to natural gas prices.
- Richmont Mines reported fourth quarter and full year 2016 financial results on February 21, 2017.
- In 2016, the company achieved record annual gold production of 104,050 ounces, at the high end of guidance. Cash costs for the year were $908 per ounce sold, within guidance.
- At the Island Gold Mine, production was 83,323 ounces for 2016, exceeding the revised guidance range. Cash costs of $779 per ounce were below the revised guidance range.
- The company reported a strong cash position of $75.1 million as of December 31, 2016 and expects a growing cash flow stream to support a potential expansion at Island Gold.
Richmont Mines provides guidance for 2015, forecasting gold sales of 78,000-88,000 ounces at an all-in sustaining cost of $1,335-$1,490 per ounce. At their Island Gold Mine, located in Ontario, the company forecasts production of 45,000-50,000 ounces at an all-in sustaining cost of $1,350-$1,495 per ounce. Richmont recently discovered a high-grade zone below the Island Gold Mine containing over 1 million ounces of gold resources.
August 2016 - Second Quarter 2016 Financial Results - August 8, 2016Adnet Communications
The document provides financial and operational results for Richmont Mines Inc. for the second quarter of 2016. Some key highlights include:
- Gold production of 23,320 ounces for Q2 2016, with cash costs of $903/ounce and AISC of $1,330/ounce.
- Strong performance at Island Gold mine, the company's flagship asset, with production growth of 24% compared to Q2 2015 and costs well below guidance.
- Overall company remains on track to meet or exceed 2016 consolidated guidance of 87,000-97,000 ounces of gold production.
Kirkland Lake Gold reported Q3 2017 results with gold production of 139,091 ounces, 80% higher than Q3 2016. Net earnings more than doubled to $43.8 million due to an $80 million pre-tax gain on its investment in Novo Resources. Updated full-year 2017 production guidance is 580,000-595,000 ounces at an operating cash cost of $475-500 per ounce. Free cash flow for the first nine months of 2017 reached $113.5 million.
This document provides a summary of Richmont Mines Inc., including its asset base in Canada, growing production profile, decreasing cost structure, and significant exploration potential. Key highlights include:
- Q2 gold production of 23,320 ounces at cash costs of $903 per ounce.
- Increased mineral reserves at Island Gold mine by 206% and Beaufor mine by 95%.
- Island Gold mine life extended to 7 years and Beaufor to over 2 years based on 2015 reserves.
- Preliminary Economic Assessment released for Island Gold outlining potential production expansion.
1) The document discusses Richmont Mines' positioning for sustainable growth through its quality asset base in Canada including the Island Gold and Beaufor mines.
2) At Island Gold, production is expected to grow from 45,000-50,000 ounces in 2015 to an average of 78,000 ounces per year from 2017-2022 according to a PEA study. Cash costs are also expected to decrease.
3) Exploration drilling is planned around Island Gold to expand reserves and resources laterally and at depth as well as regionally.
- Production for Q1 2016 was a record 32,369 ounces of gold, a 25% increase over Q1 2015, driven by a record quarter from Island Gold. Cash costs and AISC both decreased by 18% and 12% respectively.
- Revenue was a record $52.6 million for Q1 2016. The company has a strong cash position of $61.2 million and is well positioned for organic growth at its mines in Quebec and Ontario.
- Exploration continues to show potential to expand resources at Island Gold both laterally and at depth. Drilling results compare favorably to the previous deep resource block.
Richmont Mines Inc. held its 2014 annual meeting on May 7, 2015. In 2014, the company saw a 49% increase in gold sales to 94,503 ounces, generated net earnings of $8.2 million, and had operating cash flow of $27.3 million. At the end of 2014, Richmont had total proven and probable gold reserves of 217,950 ounces at an average grade of 6.43 g/t.
This document provides an overview of Richmont Mines Inc., including:
- Forward-looking statements about factors that could impact results and risks to US investors regarding resource estimates.
- Richmont has a quality asset base in Canada with growing production and decreasing costs, significant exploration potential, and a strong balance sheet.
- The Island Gold mine is on track for a record year of production and declining costs, and a PEA outlines plans to expand through deeper mining.
- The Beaufor and Monique mines along with the Camflo mill also contribute to Richmont's production.
The document discusses forward-looking statements about the Company's future performance that involve known and unknown risks and uncertainties. It notes that actual exploration and development results, estimates of reserves and resources, timing of production, costs, profitability, and other factors can differ materially from forward-looking statements. It also lists several risk factors that could affect the Company's future results, including exploration, development, mining and operational risks as well as risks from commodity price fluctuations, access to capital and financing, environmental liability, and dependence on joint venture partners. The qualified person for the technical data is identified as Mr. Gregory Smith, P. Geo., Vice President of Exploration for the Company.
The document discusses the Island Gold Mine site visit that took place on May 27, 2015. It includes an agenda for the visit with presentations on workforce health and safety, sustainability and community, geology and exploration, operations, and development plans. Safety protocols are reviewed for the underground tour, mill tour, core shack and other areas of the site visit. Statistics on the mine's workforce, health and safety performance, environment and community programs are also presented.
- Richmont Mines is positioning its Island Gold Mine in Ontario for transformational growth through increased development and exploration.
- In 2015, the company plans to spend $48 million at Island Gold, including $29 million for project development and exploration to extend mine life at depth.
- Goals for 2015 include completing underground development including ramps and drilling to upgrade and expand resources below 500 meters depth. Mining and milling studies will evaluate options to increase production long-term.
The document discusses Richmont Mines' Island Gold Mine and its positioning for growth. It summarizes that Q3 production was in line with expectations and there continues to be a positive reconciliation to reserves of 37% year-to-date. It also outlines opportunities to increase production capacity at Island Gold through a preliminary economic assessment exploring expansion scenarios to 1,100 or 1,200 tonnes per day.
- The document discusses GQ Minerals' phosphate and potash projects in Africa.
- GQ's Tilemsi Phosphate project in Mali has an inferred resource of 50Mt at 24.3% P2O5 and could produce fertilizer profitably for an initial investment of $157.9M.
- The company is also exploring the potential to recover potash from brine at the Sua Pan site in Botswana.
Richmont Mines reported its second quarter 2017 financial results. Key highlights include:
- Solid production of 31,249 ounces of gold and record low costs at the Island Gold Mine.
- Net earnings of $0.17 per share and operating cash flow of $0.39 per share.
- Cash position of $96 million, increased from prior quarter.
- Exploration success extending mineralization further down plunge at Island Gold.
- Expansion Case PEA supports increasing Island Gold production by 22% with low capital costs.
November 2017 North Arrow Minerals Corporate Updatenarminerals
North Arrow Minerals is Canada's most active diamond explorer. The document provides an overview of North Arrow's projects and corporate details. Key points include:
- North Arrow has six drill-ready diamond projects in Canada, including its flagship Naujaat Project that has an inferred resource of 26 million carats.
- In 2017, North Arrow discovered kimberlite at its Mel Project, indicating the potential for a new diamond district.
- Drilling is planned in 2018 at Naujaat and Mel to improve resource definition and assess diamond potential. Results from a 2017 mini-bulk sample at Naujaat are also pending.
Richmont Mines reported third quarter 2016 financial results and operational highlights. Key points include:
- In-line production at Island Gold mine in Q3, with positive reconciliation of 37% compared to reserves.
- Beaufor mine production was lower due to equipment availability issues, but costs are expected to decrease as higher grade stoping increases.
- Strong cash position of $78.9 million to fund potential expansion at Island Gold to 1,100 tpd production.
- Near-mine drilling continuing to expand resources at Island Gold to incorporate in expansion study in H1 2017.
- Richmont Mines provides a summary of its operational highlights for Q4 2016 and full-year 2016, noting it achieved record production and cash costs within revised guidance.
- The document discusses the Island Gold Mine specifically, noting 51% production increase over 2015 and 24% reduction in costs, with opportunities for further growth and decreasing costs profile.
- Preliminary estimates indicate potential for positive reserve adjustments at Island Gold from 2016 grade reconciliations being higher than the December 2015 reserve model.
The document provides an agenda for an Island Gold Technical Session, which will include presentations on: the corporate overview and key highlights; evolution of the Island Gold Mine geology and exploration; an expansion case preliminary economic assessment; the underground mine plan and operating/capital costs; the milling plan and operating/capital costs; a financial analysis; next steps and upside opportunities; and a question and answer period. It also provides background on Richmont Mines' vision, strategy, capital structure, Island Gold's 2016 performance, reserve and resource growth, and 2017 production/cost guidance.
The document summarizes Richmont Mines' second quarter 2015 results. Key points include:
- Gold production of 26,314 ounces for Q2 2015 and 52,173 ounces for the first half of 2015.
- Cash costs of $974/oz for Q2 2015 and $976/oz for the first half of 2015.
- Focus on developing the Island Gold mine, including $48.3 million planned for 2015 for development, drilling and studies to expand resources and reserves.
17 08-29 wpm september presentation final (for web & print)silverwheaton2016
- The document is a presentation by Wheaton Precious Metals describing the company.
- Wheaton Precious Metals is a streaming company that provides upfront payments to mining companies in exchange for the right to purchase precious metals from their mines at a low cost.
- This benefits both Wheaton, through a diversified portfolio of high-quality, long-life mining assets, and its mining partners through non-dilutive funding that improves project returns.
17 01-10 slw presentation final (for web & print)silverwheaton2016
This document provides cautionary statements regarding the use of forward-looking statements in the presentation. It notes that actual results could differ materially from what is presented. It strongly cautions readers to carefully review the cautionary notes in the presentation, particularly those regarding forward-looking statements, material assumptions, risk factors, and mineral reserve and resource estimates. The document aims to ensure readers are aware of the risks and uncertainties inherent in the information presented.
This document is a presentation by The High Margin Precious Metals Company from December 2016. It contains cautionary statements regarding the use of forward-looking statements and notes the risks associated with relying on such statements. Readers are strongly cautioned to carefully review the risk factors contained in the presentation and in other Silver Wheaton regulatory filings.
16 11-08 slw presentation final (for web & print)silverwheaton2016
This document provides an overview and summary of The High Margin Precious Metals Company. It cautions readers that forward-looking statements are subject to risks and uncertainties. It also cautions readers to carefully review cautionary notes regarding forward-looking statements and mineral reserve and resource estimates. The document then provides information on Silver Wheaton's business model, asset base, production growth forecast, partnerships, Canadian tax dispute, advantages over traditional miners and other streamers, and potential as silver supply declines in coming years.
16 09-14 slw presentation final (for web and print)silverwheaton2016
This document provides an overview and summary of The High Margin Precious Metals Company. It begins with cautionary statements regarding the use of forward-looking statements. It then provides a high-level summary of Silver Wheaton's business model of streaming precious metals, why streaming works, and who Silver Wheaton is as a company. Key points include that Silver Wheaton has a well-diversified, high-quality portfolio of streaming agreements with long-life, low-cost assets. It also discusses Silver Wheaton's largest current assets, growth profile, tax dispute with CRA, and advantages of investing in Silver Wheaton over traditional mining companies.
This document provides an overview of The High Margin Precious Metals Company and cautions readers about forward-looking statements. It notes that actual results could differ materially from expectations and strongly cautions readers to carefully review cautionary notes regarding forward-looking statements and mineral reserve and resource estimates. The document also outlines various risks and uncertainties that could affect the company's projections and statements.
This document provides an overview of The High Margin Precious Metals Company and cautions readers about forward-looking statements. It notes that actual results could differ materially from expectations and strongly cautions readers to carefully review cautionary notes regarding forward-looking statements and mineral reserve and resource estimates. The document also outlines various risks and uncertainties that could affect the company's projections and statements.
Raymond James Texas Gold Investor Forum - October 2014RoyalGold
The document summarizes Royal Gold's presentation at the Raymond James Texas Gold Investor Forum in October 2014. It highlights Royal Gold's near-term growth driven by increasing production at Mt. Milligan, its long-lived world class portfolio of royalty assets, and its strong financial position with $1 billion in capital available to pursue new opportunities. Royal Gold also leads its peers in key per-share metrics like reserves per share and EBITDA per share, but lags in valuation relative to those metrics.
Denver Gold Forum presentation - Royal GoldRoyalGold
The document summarizes the 2014 Denver Gold Forum presentation by Tony Jensen, President and CEO of Royal Gold. It highlights Royal Gold's solid portfolio and future growth opportunities, including near-term growth from ramping production at Mt. Milligan mine. It also notes Royal Gold's $1 billion in uncommitted capital available to invest in royalty/streaming deals over $100 million, and that the company offers strong per-share metrics at a relatively low valuation compared to peers.
Baml v2 barcelona revised screen may 2015RoyalGold
Mount Milligan is proving transformational for Royal Gold and providing an excellent platform for growth. Royal Gold has a high quality portfolio of properties, counterparties and jurisdictions that has generated strong returns. The company has approximately $1.4 billion in liquidity to pursue growth opportunities while balancing returns to shareholders.
The document is a presentation from Stefan Wenger, Chief Financial Officer & Treasurer of CIBC, given at the 2014 Royalties Conference in June. It discusses CIBC's high quality royalty portfolio, with near-term growth expected from the Mt. Milligan mine reaching full production. The presentation highlights several producing properties that contribute significant revenue and notes CIBC's alignment with counterparties and shareholders through performance-based compensation.
Screen (v2) royal gold june 2014 - cibc royalties conferenceRoyalGold
The document is a presentation from Stefan Wenger, Chief Financial Officer & Treasurer of CIBC, given at the 2014 Royalties Conference in June. It discusses Royal Gold's strong near-term growth prospects, highlighting that production at its Mt. Milligan mine is expected to ramp up significantly, potentially doubling Royal Gold's gold equivalent ounce deliveries. It also overviewed Royal Gold's acquisition of silver streams on the Phoenix and Rubicon mines, adding more growth assets to its high-quality portfolio.
Tony Jensen, President and CEO of BAML Canada Mining, discussed Royal Gold's strategy and vision. Royal Gold provides capital to mining companies in exchange for gold production from their mines. Royal Gold focuses on investing in long-lived, high-quality assets that produce mainly gold. It pays a growing dividend from the cash flow of its portfolio of streaming and royalty agreements on producing mines. Royal Gold aims to create long-term value for shareholders by leveraging gold prices and reserves through disciplined capital allocation.
Royal Gold's Presentation - Scotiabank London Mining DayRoyalGold
Royal Gold provides a solid portfolio and future through its high quality mining royalty and streaming assets. Mount Milligan copper and gold mine is proving transformational and provides an excellent growth platform. Royal Gold has approximately $1.4 billion in liquidity to balance growth opportunities with returning capital to shareholders. Key growth opportunities include expanding production at Peñasquito gold and copper mine and start-up of the Phoenix Gold Project in mid-2015. Royal Gold's portfolio consists of long-lived, high quality assets concentrated in top-tier jurisdictions and with investment-grade counterparties.
Royal Gold held its annual RBC Global Mining & Materials Conference in June 2015. CEO Tony Jensen highlighted Mount Milligan's strong performance, providing an excellent growth platform. Royal Gold has a high quality portfolio of long-lived assets from major counterparties and jurisdictions. With $1.4 billion in liquidity, Royal Gold is well positioned to pursue further growth opportunities while returning capital to shareholders.
This presentation provides an overview of Royal Gold Inc. and its business model of investing in streaming and royalty agreements related to gold and other metal production. It highlights several of Royal Gold's key assets and recent investments that are expected to drive strong near-term growth in production and revenue. However, the presentation also notes several risks and uncertainties that could cause actual results to differ from projections.
This presentation provides an overview of Royal Gold Inc. and its business model of providing royalty and streaming financing to mining companies. It highlights several of Royal Gold's key assets and growth projects, including the Mt. Milligan mine which is expected to significantly increase Royal Gold's production and revenue. The presentation also discusses Royal Gold's strong financial position and how its business model aligns its interests with shareholders and mining company partners.
Morgan Stanley Metals & Mining Corporate Access Day - Royal Gold presentationRoyalGold
The document is a presentation by Morgan Stanley Metals & Mining discussing Royal Gold's portfolio. It contains the following key points:
1) Royal Gold has a solid portfolio with long-lived, high-quality assets that provide both near-term growth and future upside potential. Mount Milligan is a key growth driver currently ramping up production.
2) The company has a world-class portfolio of royalties on large, long-life mines with major operators like Goldcorp and Vale. Over half of Royal Gold's revenues come from investment-grade counterparties.
3) Royal Gold is well positioned for further growth and investment, with around $1.2 billion in liquidity and a
This document summarizes a presentation given by Bill Heissenbuttel of Barclays Select Series on their metals and materials cross asset forum in March 2015. The key points are:
1) Mount Milligan is proving transformational for growth as ramp-up continues providing an excellent platform for growth.
2) Royal Gold has high quality properties, counterparties, and jurisdictions in its portfolio.
3) Royal Gold has approximately $1.2 billion in liquidity and is balancing growth opportunities with returning capital to shareholders.
Similar to 17 10-23 october presentation final (for web & print) (20)
Wheaton Precious Metals will acquire a precious metals stream from Sibanye-Stillwater's Stillwater mining operations in Montana. Under the stream, Wheaton will receive 100% of gold production and varying amounts of palladium production for the life of the Stillwater and East Boulder mines. The mines have over 24 years of reserves and significant exploration potential. The stream provides Wheaton with long-term production of over 30,000 gold equivalent ounces annually and diversifies its portfolio into palladium and the United States.
Voisey's Bay is a low-cost, long-life nickel mine located in Canada that also produces cobalt and copper as byproducts. Wheaton Precious Metals plans to acquire a stream on cobalt production from Voisey's Bay, which will add a new long-life asset to its portfolio and provide exposure to growing cobalt demand, especially from batteries. The upfront payment of $390 million will be paid from Wheaton's credit facility and the stream is expected to provide over $75 million in annual operating cash flow on average for the first 10 years. The transaction will be accretive to Wheaton's production, cash flow, and earnings on a per share basis.
17 11-08 november presentation final (for web & print)silverwheaton2016
This document discusses Wheaton Precious Metals, a precious metals streaming company. It notes that Wheaton provides significant upfront capital to mining companies in a non-dilutive manner while retaining operational control. Wheaton has a diversified portfolio of long-life, high-quality streaming assets that provide low-cost, predictable production over 25 years on average. The document cautions readers about forward-looking statements and notes various risks and uncertainties involved.
- The document is a presentation from Wheaton Precious Metals discussing their business model of precious metals streaming.
- They have a diversified portfolio of streaming agreements with operating mines and development projects around the world. This provides low-cost, long-life production of gold and silver.
- Key assets include Salobo, Peñasquito, Antamina, and Constancia, which collectively account for the majority of their forecasted production over the next 5 years. They also have additional optionality from development assets.
- The document discusses Wheaton Precious Metals, a streaming company that provides upfront payments to mining companies in exchange for the rights to future silver and gold production at a set price.
- Wheaton has a diversified portfolio of high-quality, long-life assets producing silver and gold with low costs and substantial optionality from development projects.
- The company offers investors exposure to precious metals with more upside potential and downside protection compared to ETFs and bullion due to exploration upside, expansion opportunities, and the ability to make accretive acquisitions.
- The document is a presentation from Wheaton Precious Metals discussing their business model of precious metals streaming.
- They have a diversified portfolio of streaming agreements with major mining companies. This provides low-cost, long-life production of silver and gold with significant optionality from development assets.
- Key highlights of their portfolio include the long-life Salobo mine, the high-grade Peñasquito mine, and potential expansion opportunities across several assets.
- The document is a presentation by Wheaton Precious Metals describing their business model of precious metals streaming.
- They have a diversified portfolio of streaming agreements with operating mines and development projects around the world. This provides low-cost, long-life production of gold and silver.
- Key assets include Salobo, Peñasquito, Antamina, and Constancia, which account for the majority of their forecasted production over the next 5 years. They also discuss recent developments and exploration potential at several of these key mines.
- The document discusses forward-looking statements and risks associated with Wheaton Precious Metals' business, including commodity price fluctuations and tax disputes.
- Readers are strongly cautioned to review risk factors described in the document and in Wheaton's regulatory filings.
- The document contains Wheaton's cautionary statements regarding forward-looking projections and mineral reserve estimates.
This document provides an overview of the Antamina mining operation in Peru as follows:
1) Antamina is a large copper mine located in Peru that began operations in 2001. It is one of the largest and lowest cost copper mines globally.
2) The mine produces copper, zinc, silver and other metals. Production has increased over time with expansions. In 2016 it produced 431kt of copper.
3) The mine is owned by major mining companies and has extensive infrastructure including a pipeline and port facilities to transport its concentrates.
This document provides an overview of Salobo, a gold mine owned by Vale S.A. in Brazil. It summarizes the key terms of an agreement where Silver Wheaton will acquire an additional 25% of the life-of-mine gold from Salobo, increasing its total entitlement to 75%. Some key details include that Silver Wheaton will pay $800 million upfront for the increased stream and also potential expansion payments to Vale if throughput is increased. The acquisition is expected to be accretive and significantly increase Silver Wheaton's gold reserves and production.
The E-Way Bill revolutionizes logistics by digitizing the documentation of goods transport, ensuring transparency, tax compliance, and streamlined processes. This mandatory, electronic system reduces delays, enhances accountability, and combats tax evasion, benefiting businesses and authorities alike. Embrace the E-Way Bill for efficient, reliable transportation operations.
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Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
MUTUAL FUNDS (ICICI Prudential Mutual Fund) BY JAMES RODRIGUESWilliamRodrigues148
Mutual funds are investment vehicles that pool money from multiple investors to purchase a diversified portfolio of stocks, bonds, or other securities. They are managed by professional portfolio managers or investment companies who make investment decisions on behalf of the fund's investors.
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
ZKsync airdrop of 3.6 billion ZK tokens is scheduled by ZKsync for next week.pdfSOFTTECHHUB
The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
2. 2
The information contained in this Presentation contains “forward-looking statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of Canadian
securities legislation. There can be no assurance that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements.
Readers are strongly cautioned to carefully review the cautionary notes to this Presentation starting on page 48
and in particular:
Note 1 at the end of this Presentation contains our cautionary note regarding forward-looking statements and sets out the
material assumptions and risk factors that could cause actual results to differ, including, but not limited to, fluctuations in the
price of commodities, the outcome of the challenge by the CRA of Wheaton Precious Metal’s tax filings, the absence of
control over mining operations from which Wheaton Precious Metal purchases silver or gold, and risks related to such
mining operations and continued operation of Wheaton Precious Metal’s Counterparties. Readers should also consider the
section entitled “Description of the Business – Risk Factors” in Wheaton Precious Metal’s Annual Information Form and the
risks identified under “Risks and Uncertainties” in Management's Discussion and Analysis for the period ended December
31, 2016, both available on SEDAR and in Wheaton Precious Metals' Form 40-F and Wheaton Precious Metals' Form 6-K
filed March 31, 2017, both on file with the U.S. Securities and Exchange Commission. Where applicable, readers should
also consider any updates to such “Risks and Uncertainties” that may be provided by Wheaton Precious Metals in its
quarterly Management’s Discussion and Analysis.
Note 2 at the end of this Presentation contains our cautionary note regarding the presentation of mineral reserve and
mineral resource estimates.
CAUTIONARY STATEMENTS
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
7. 0
10
20
30
40
50
60
70
80
0
200
400
600
800
1,000
1,200
2013 2014 2015 2016 2017E 2017-2021E Optionality
SilverEquivalentProduction(SEO)(Moz)
GoldEquivalentProduction(GEO)(Koz)
Other San Dimas Peñasquito Constancia
Sudbury Salobo Antamina
Other Development Rosemont Pascua Lama
7Who is Wheaton Precious Metals?
FIVE YEAR PRODUCTION FORECAST
SUBSTANTIAL OPTIONALITY EXISTS
Wheaton has over 350 thousand gold equivalent ounces of production optionality
Production Profile1,4 Not included
in forecast
340koz Gold
29Moz Silver
8. 8Who is Wheaton Precious Metals?
GROWTH AND OPTIONALITY
SIGNIFICANT UPSIDE FROM EXISTING STREAM AGREEMENTS1,2,5
Assets Status Description Approx. Production
Ag Au
Pascua
Lama
Awaiting
permits
Awaiting reinstatement of permits
Underground option?
9 Moz
(1st 5-yr avg)
Rosemont
Awaiting
permits
Record of Decision issued
Only 404 Water Permit outstanding
3 Moz 15 koz
Other Salobo Expansion – base case +12Mtpa
Peñasquito – PLP & CPP construction
Keno Hill – Restart of operations and
significant exploration success
Toroparu & Cotabambas – Prefeasibility
Navidad – Awaiting permits
3 - 5 Moz
115 - 150
koz
Total
15 - 17
Moz
130 - 165
koz
9. $3.90 $3.90 $3.91 $3.94 $3.97 $3.97 $3.99 $4.06 $4.06 $4.14 $4.17 $4.42 $4.71
47%
67% 71% 74% 74%
81%
88%
87%
83%
78%
73% 74%
$0
$10
$20
$30
$40
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017-2021E
9
PREDICTABLE COSTS AND HIGH MARGINS
Cash Operating MarginsTotal Cash Cost/oz
Predictable cash costs provide for industry leading margins and free cash flow
Total Cash Cost and Cash Operating Margins per Ounce1,6,7,8
69%
GoldPrice(US$/0z)SilverPrice(US$/0z)
Who is Wheaton Precious Metals?
$300 $300 $300 $362 $386 $386 $393 $391 $401
71%
75%
81%
79%
72% 69% 66% 69%
$0
$300
$600
$900
$1,200
$1,500
$1,800
2009 2010 2011 2012 2013 2014 2015 2016 2017-2021E
78%
10. 10
PREDICTABLE COSTS AND HIGH MARGINS
LOW G&A COSTS REFLECT SCALABILITY OF BUSINESS
In 2016, G&A per gold equivalent ounce was at its lowest level since 2011
General and Administrative (“G&A”) Costs per Gold Equivalent Ounce1,9
69%
US$perGold
EquivalentOunce
Who is Wheaton Precious Metals?
Administrative Costs10
$55.27 $50.19 $40.13 $47.85 $53.56 $60.12 $46.44 $40.89
$0
$500
$1,000
$1,500
$2,000
2009 2010 2011 2012 2013 2014 2015 2016
0.35%
0.50%
0.45%
0.40%
0.45%
0.35%
0.00%
0.20%
0.40%
0.60%
Wheaton
Precious
Metals
iShares Silver
Trust (SLV)
Sprott Physical
Silver Trust
(PSLV)
SPDR Gold
Trust (GLD)
Silver Bullion
Storage Fee
Gold Bullion
Storage Fee
11. 11Who is Wheaton Precious Metals?
STRONG TRACK RECORD OF ORGANIC GROWTH
EXPLORATION AND EXPANSION - GROWING R&R
Reserves and Resources Growth2,11
Exploration and inferred conversion has increased resources by ~35% more than ounces mined,
And significant exploration upside still exists across the stream portfolio!
Total Acquired Total Mined Total Exploration &
Inferred Conversion
R&R
21.8M GEOs
1,526M SEOs or
(P&P)
14.5M GEOs
or 1,017M SEOs
(M&I)
11.4M GEOs
or 799M SEOs8.3M GEOs
or 581M SEOs
9.1Moz GEOs
or 634M SEOs
(M&I)
24.2M GEOs
or 1,691M SEOs
(P&P)
12. 12Who is Wheaton Precious Metals?
STRONG TRACK RECORD OF ACCRETIVE GROWTH
EXPANSION & GROWTH THROUGH ACQUISITIONS
Total attributable gold equivalent R&R per 100 shares since inception2,11
Significant growth in reserves and resources per share since inception
-3.0
-2.0
-1.0
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
GoldEqoz/100shares
M&I
P&P
Mined
14. 14Who is Wheaton Precious Metals?
UPDATE ON CANADIAN TAX DISPUTE
REASSESSMENT FOR 2005-2010 RECEIVED ON SEPTEMBER 24, 2015
Wheaton remains confident in its structure and will defend its position vigorously
Facts and
Wheaton’s
Position
We are in the business of buying and selling silver and gold
Foreign subsidiaries established for non-Canadian asset streams
Income earned in Canada relating to mines located in Canada is subject
to Canadian tax
Income earned outside of Canada by foreign subsidiaries relating to
mines located outside of Canada should not be subject to Canadian tax
CRA Position &
Reassessment
details for tax
years 2005-2010
C$715 million of income earned by foreign subsidiaries outside of
Canada from mines located outside of Canada should be taxable in
Canada on basis of transfer pricing
CRA seeking to impose income tax of C$201 million, transfer pricing
penalties of C$72 million, and interest & other penalties of C$81 million
for a total of C$353 million13
Updates January 2016: Wheaton commences an appeal in the Tax Court of
Canada
May 2016: Pleadings have closed. We continue to aggressively pursue
timely resolution in the Tax Court of Canada. Timing remains uncertain.
Currently in discovery
15. 15
Unique Dividend Policy:
• Dividends linked to operating cash flows whereby 30% of the average of the
previous four quarters’ operating cash flows are distributed to shareholders14
Benefits
• Direct precious metals price exposure
• Participation in robust organic production growth
• Sustainable and flexible
Who is Wheaton Precious Metals?
UNIQUE AND SUSTAINABLE DIVIDEND
HIGHEST DIVIDEND YIELD AMONGST STREAMERS
Wheaton’s yield is ~2%, significantly higher than the streaming peer group
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
2011 2012 2013 2014 2015 2016 2017
WPM Yield FNV Yield RGLD Yield
17. 17Benefits to Mining Companies
PRECIOUS METALS STREAMING
THE BENEFITS TO THE PARTNER MINING COMPANY
Stream Equity Debt
Non-dilutive form of funding
Initial value creation for both parties
Improves project IRR
No restrictive financial or hedging covenants
Endorses technical merits of mine / project
Share production and operating risk
Partner retains full operational control
Expedited due diligence & closing process
Tailored transaction structure
No fixed payments
Streaming is a more flexible and favorable source of funding compared to debt or equity
18. 18Benefits to Mining Companies
PRECIOUS METALS STREAMING
THE BENEFITS TO THE PARTNER MINING COMPANY
Peñasquito – New Mine15 Salobo 1 – Expansion15
Upfront Payment
as a percentage
of capex
Stream as a
percentage of
mine revenue
Initial Value Creation
The market values
precious metal in a
streaming company’s
portfolio greater than
precious metal produced
by a traditional miner
Traditional
Miner
Streaming
Company
Opportunity exists
to create value for
both parties
Value of Future
Precious Metal
Production
Value of Future
Precious Metal
Stream
55%
4.4%
102%
4.1%
0%
20%
40%
60%
80%
100%
Upfront Payment
as a percentage
of capex
Stream as a
percentage of
mine revenue
Improves IRRs
The upfront payment
contributes a larger
portion of capex than the
stream represents as a
percentage of revenue
60%
50%
30%
20%
10%
0%
55%
4.4%
102%
4.1%
20. 20Benefits to the Community
STRENGTHENING PARTNERSHIPS
CSR PROGRAM FOCUSES ON COMMUNITIES NEAR PARTNER MINES
Partner CSR Program:
First streaming / royalty company to focus support on mining communities
• Program provides long-term, sustainable benefits to the communities where the mines are located
Current initiatives
• Vale: Improving the access and quality of primary healthcare in Parauapebas, Brazil, near the Salobo mine
• Glencore: Improving the educational system in rural communities near the Antamina mine in Ancash, Peru
• Hudbay: Enhancing income generation opportunities through improved dairy production in four
communities near the Constancia mine in Chumbivilcas, Peru
• Goldcorp: Outfitting the College of Vocational and Technical Education (CONALEP) with equipment and
funding improvements to campus facilities in Zacatecas, Mexico, near the Peñasquito mine
Completed initiatives
• Barrick: Executed an irrigation project in Argentina, near the Veladero mine and Pascua-Lama project
• Primero: Built three community facilities in Tayoltita, Mexico, near the San Dimas mine
Investing in the communities around the mines from which we get our precious metals −
It’s the right thing to do…
21. 21Benefits to the Community
COMMUNITY IMPACT
Canadian initiatives support a broad range of services and causes
Primary sponsor of key fundraising events for:
• The BC Ride to Conquer Cancer – BC Cancer Agency
• Daffodil Ball – Canadian Cancer Agency
• Sports Celebrities Festival – Special Olympics BC and Canucks for Kids Fund
• Courage to Come Back Awards – Coast Mental Health
Sponsor over 50 initiatives benefitting local hospitals, cancer research, youth
outreach programs, addiction treatment, and many, many more
Carbon Neutral Company
• Wheaton contributes to the Lara Ceramic Fuel Switching Project in Brazil to offset its
climate impact
SUPPORTING LOCAL AND GLOBAL INITIATIVES
Success is built on more than just financial results
23. 23Why invest in Wheaton Precious Metals?
WHY INVEST IN WHEATON PRECIOUS METALS?
Wheaton
Precious
Metal Miners
Other
Streamers
Bullion /
ETFs
100% Precious metals
Predictable costs16
Exploration upside
Highly diverse asset base
Sustainable dividend
Leverage to commodity prices
Compelling Valuation ?
Wheaton has the highest quality stream portfolio and is the only streamer that is 100% precious metals
24. 24
WHEATON VERSUS OTHER STREAMERS
INDUSTRY LEADERS
Percentage of Market by Streamer 7,17
Why invest in Wheaton Precious Metals?
51%
43%
30%
17%
20% 19%
32%
37%
51%
0%
10%
20%
30%
40%
50%
60%
Adj. Net Earnings Operating Cash Flow Market Capitalization
Wheaton Royal Gold Franco Nevada
25. 25
WHEATON VERSUS OTHER STREAMERS
TRADING AT A DISCOUNT TO PEERS
Key Valuation Metrics7,18
Why invest in Wheaton Precious Metals?
Wheaton trades at a compelling valuation relative to peers
30.2
15.2
59.6
23.0
80.9
33.6
0
10
20
30
40
50
60
70
80
90
Price / Adj. Net Earnings Price / Op. Cash Flow
1.5
2.0
2.2
Price / Net Asset Value
-
0.5
1.0
1.5
2.0
2.5
26. 26
WHEATON VERSUS OTHER STREAMERS
IMPLIED MARKET CAPITALIZATION
Implied Market Capitalization Based on Peer Multiples7,19
Why invest in Wheaton Precious Metals?
Using peer multiples, Wheaton’s market capitalization would be
between $4.5 and $14 billion dollars higher
Current
Current
Current
Average upside >$8 billion
$8,982 $8,982 $8,982
$17,065
$13,609 $12,703
$23,156
$19,868
$13,639
$0
$5,000
$10,000
$15,000
$20,000
$25,000
Price / Adj. Net Earnings Price / Op. Cash Flow Price / Net Asset Value
Wheaton Current Market Cap. Wheaton with Royal Gold Multiple Wheaton with Franco Nevada Multiple
27. 27Why invest in Wheaton Precious Metals?
WHEATON VERSUS BULLION
AVERAGE TOTAL RETURN OVER MULTIPLE HOLDING PERIODS
Total Average Rolling Multi-Year Return Comparison20
Wheaton has substantially outperformed gold and silver on average
over multiple investment horizons since 2005
0%
50%
100%
150%
200%
250%
1-Year 2-Year 3-Year 4-Year 5-Year 10-Year
AverageTotalReturn
Holding Period
Gold Silver WPM
28. 28
WHEATON PRECIOUS METALS PROVIDES:
Cost predictability
Leverage to increasing precious metals prices
High quality asset base
Attractive valuation relative to peers
Optionality measured in ounces, not acres
Very competitive dividend
IF YOU LIKE PRECIOUS METALS…
Why invest in Wheaton Precious Metals?
31. 31
LIQUID STOCK
CAPITAL STRUCTURE AS OF JUNE 30, 2017
Shares Outstanding 442.0 million
Diluted Shares Outstanding21 442.4 million
3 Month Average Daily Trading Volume:
TSX: 0.8 million shares
NYSE: 2.5 million shares
Appendix
32. 32
FINANCIALS SNAPSHOT
OPERATING AND FINANCIAL RESULTS AND BALANCE SHEET1,7
Q2 2017 Q2 2016 Q1 2017 YTD 2017
Gold production (oz) 78,100 71,200 84,400 162,500
Silver production (million oz) 7.2 7.6 6.6 13.8
Gold sales (oz) 72,000 70,800 88,400 160,400
Silver sales (million oz) 6.4 7.1 5.2 11.6
Average realized gold price $1,263 $1,267 $1,208 $1,233
Average realized silver price $17.09 $17.18 $17.45 $17.25
Average cash cost per gold ounce $393 $401 $391 $392
Average cash cost per silver ounce $4.51 $4.46 $4.54 $4.52
Cash operating margin per gold ounce $870 $866 $817 $841
Cash operating margin per silver ounce $12.58 $12.72 $12.91 $12.73
Revenues (million) $199.68 $212.35 $197.95 $397.64
Net earnings (million) $67.61 $60.31 $61.22 $128.84
Adjusted net earnings (million) $67.61 $60.31 $61.22 $128.84
Earnings per share $0.15 $0.14 $0.14 $0.29
Adjusted earnings per share $0.15 $0.14 $0.14 $0.29
Operating cash flow (million) $124.68 $134.27 $119.92 $244.60
Dividend per share related to period being reported $0.07 $0.05 $0.07 $0.14
Cash and cash equivalent (million) $76.58 $124.49 $76.58 $76.58
Net Debt (million) $876.42 $581.51 $876.42 $876.42
Appendix
33. 33
COMPANY ACQUISITION HISTORY
Precious Metal
Interest
Mine Owner
Location of
Mine
Upfront
Consideration
Attributable Production
Silver Gold
Production Payment
as of March 31, 20171
Silver Gold
Term of
Agreement
Date of
Original
Contract
1 San Dimas Primero Mexico $ 189,799
100% up to 6Moz,
50% thereafter
0% $4.28 n/a Life of Mine 15-Oct-04
2 Los Filos Leagold Mexico $ 4,463 100% 0% $4.29 n/a 25 years 15-Oct-04
3 Zinkgruvan Lundin Sweden $ 77,866 100% 0% $4.29 n/a Life of Mine 8-Dec-04
4 Yauliyacu Glencore Peru $ 285,000
100% up to 1.5Moz,
50% thereafter
0% variable2
n/a Life of Mine 23-Mar-06
5 Stratoni Eldorado Gold Greece $ 57,500 100% 0% variable3
n/a Life of Mine 23-Apr-07
6 Peñasquito Goldcorp Mexico $ 485,000 25% 0% $4.13 n/a Life of Mine 24-Jul-07
7 Keno Hill Alexco Canada $ 50,000 25% 0% variable4
n/a Life of Mine 2-Oct-08
8‐12 Silverstone Resources 21-May-09
8 Minto Capstone Canada $ 54,805 100%
100% up to 30koz,
50% thereafter
$4.14 $318 Life of Mine 20-Nov-08
9 Cozamin Capstone Mexico $ 41,959 100% 0% $4.28 n/a 10 years 4-Apr-07
10 Neves-Corvo Lundin Portugal $ 35,350 100% 0% $4.18 n/a 50 years 5-Jun-07
11 Aljustrel I'M SGPS Portugal $ 2,451 100%5
0% $4.06 n/a 50 years 5-Jun-07
12
Navidad (Loma de
La Plata)
Pan American Argentina $ 43,289 6
12.5% 0% $4.00 n/a Life of Mine n/a7
13‐16 Barrick $ 625,000
13 Pascua-Lama Barrick Chile/Argentina 25% 0% $3.90 n/a Life of Mine 8-Sep-09
14 Lagunas Norte Barrick Peru 100% 0% $3.90 n/a 8.5 years 8-Sep-09
15 Pierina Barrick Peru 100% 0% $3.90 n/a 8.5 years 8-Sep-09
16 Veladero Barrick Argentina 100%8
0% $3.90 n/a 8.5 years 8-Sep-09
17 Rosemont Hudbay United States $ 230,0009
100% 100% $3.90 $450 Life of Mine 10-Feb-10
2004 2005 2006 2007 2008 2009 2010
4) Yauliyacu 7) Keno Hill 8-12) Silverstone
13-16) Barrick
1) San Dimas
2) Los Filos
3) Zinkgruvan
Silver Wheaton (SLW)
Begins Trading
5) Stratoni
6) Peñasquito
17) Rosemont
Silver Stream Gold & Silver Stream Gold Stream
Timeline Since Inception22
Appendix
34. 34
COMPANY ACQUISITION HISTORY
Precious Metal
Interest Mine Owner Location of Mine
Upfront
Consideration
Attributable Production
Silver Gold
Production Payment
As of March 31, 20171
Silver Gold
Term of
Agreement
Date of Original
Contract
18 Constancia Hudbay Peru $ 429,900 100% 50%10
$5.9011
$40011
Life of Mine 8-Aug-12
Constancia Silver $ 294,900 100% $5.9011
8-Aug-12
Constancia Gold $ 135,000 50%10
$40011
4-Nov-13
19 777 Hudbay Canada $ 455,100 100% 50% $6.0211
$40811
Life of Mine 8-Aug-12
20 Salobo Vale Brazil $ 3,059,36012
0% 75% n/a $400 Life of Mine 28-Feb-13
Salobo I $ 1,330,000 0% 25% 28-Feb-13
Salobo III $ 900,000 0% 25% 2-Mar-15
Salobo III $ 829,36013
0% 25% 2-Aug-16
21 Sudbury Vale Canada $ 623,57214
0% 70% n/a $400 20 years 28-Feb-13
Coleman, Copper Cliff, Garson, Stobie, Creighton, Totten and Victor gold interests
22 Toroparu Sandspring Guyana $ 153,50015
50% 10% $3.90 $400 Life of Mine 11-Nov-13
23 Antamina Glencore16
Peru $ 900,000 33.75%17
0% 20% of Spot n/a Life of Mine 3-Nov-15
24 Cotabambas Panoro Peru $ 140,00018
100%19
25%19
$5.90 $450 Life of Mine 21-Mar-16
Timeline Since Inception22
2011 2012 2013 2014 2015 2016 2017
18) Constancia
Silver
19) 777
20) Salobo I
21) Sudbury
18) Constancia
Gold
22) Toroparu
20) Salobo II
23) Antamina
24) Cotabambas
20) Salobo III
Silver Stream Gold & Silver Stream Gold Stream
Silver Wheaton
Becomes
Wheaton Precious Metals (WPM)
Appendix
35. 35
COMPANY ACQUISITION HISTORY
1. Subject to an annual inflationary adjustment with the exception of Loma de La Plata and Sudbury.
2. Should the prevailing market price for silver or gold be lower than this amount, the per ounce cash payment will be reduced to the prevailing market price, with the exception of Yauliyacu where the per ounce cash payment
will not be reduced below $4.24 per ounce, subject to an annual inflationary factor.
3. In October 2015, in order to incentivize additional exploration and potentially extend the limited remaining mine life of Stratoni, Wheaton Precious Metals and Eldorado Gold agreed to modify the Stratoni silver purchase
agreement. The primary modification is to increase the production price per ounce of silver delivered to Wheaton Precious Metals over the current fixed price by one of the following amounts: (i) $2.50 per ounce of silver
delivered if 10,000 meters of drilling is completed outside of the existing ore body and within Wheaton Precious Metals' defined area of interest (“Expansion Drilling”); (ii) $5.00 per ounce of silver delivered if 20,000 meters
of Expansion Drilling is completed; and (iii) $7.00 per ounce of silver delivered if 30,000 meters of Expansion Drilling is completed. Drilling in all three cases must be completed by December 31, 2020, in order for the
agreed upon increase in production price to be initiated.
4. In March 2017, the Company amended its silver purchase agreement with Alexco Resource Corp. (“Alexco”) to make the production payment a function of the silver head grade and silver spot price in the month in which
the silver is produced. In addition, the area of interest was expanded to include properties currently owned by Alexco and properties acquired by Alexco in the future which fall within a one kilometer radius of existing Alexco
holdings in the Keno Hill Silver District. As consideration of the amendments, Alexco issued 3,000,000 shares to Wheaton Precious Metals.
5. Wheaton Precious Metals only has the rights to silver contained in concentrate containing less than 15% copper at the Aljustrel mine.
6. Comprised of $11 million allocated to the silver interest upon the Company’s acquisition of Silverstone Resources Corp. in addition to a contingent liability of $32 million, payable upon the satisfaction of certain conditions,
including Pan American receiving all necessary permits to proceed with the mine construction.
7. Definitive terms of the agreement to be finalized.
8. Wheaton Precious Metals' attributable silver production is subject to a maximum of 8% of the silver contained in the ore processed at Veladero during the period.
9. The upfront consideration is currently reflected as a contingent obligation, payable on an installment basis to partially fund construction of the Rosemont mine once certain milestones are achieved, including the receipt of
key permits and securing the necessary financing to complete construction of the mine.
10.Gold recoveries will be set at 55% for the Constancia deposit and 70% for the Pampacancha deposit until 265,000 ounces of gold have been delivered to the Company. Should there be a delay in achieving completion or
mining the Pampacancha deposit beyond the end of 2018, Wheaton Precious Metals would be entitled to additional compensation in respect of the gold stream.
11.Subject to an increase to $9.90 per ounce of silver and $550 per ounce of gold after the initial 40 year term.
12.Vale has completed the expansion of the mill throughput capacity at the Salobo mine to 24 million tonnes per annum (“Mtpa”) from its previous 12 Mtpa. If actual throughput is expanded above 28 Mtpa within a
predetermined period, and depending on the grade of material processed, Wheaton Precious Metals will be required to make an additional payment to Vale based on a set fee schedule ranging from $113 million if
throughput is expanded beyond 28 Mtpa by January 1, 2036, up to $953 million if throughput is expanded beyond 40 Mtpa by January 1, 2021.
13.Upfront payment consisted of $800mil cash & the amendment of the 10mil Wheaton Precious Metals common share purchase warrants previously issued to Vale in connection with the Sudbury precious metal purchase
agreement which expire on Feb. 28, 2023 to reduce the strike price from $65 to $43.75 per common share. The amendment to these warrants was valued at $29 million using a Black-Scholes option pricing model.
14.Upfront payment consisted of $570 million cash plus 10 million Wheaton Precious Metals common share purchase warrants with a $65 strike and 10 year term.
15.Comprised of $16 million paid to date and $138 million to be payable on an installment basis to partially fund construction of the mine. Following the delivery of certain feasibility documentation or after December 31, 2017 if
the feasibility documentation has not been delivered to Wheaton Precious Metals by such date, Wheaton Precious Metals may elect not to proceed with the agreement or not pay the balance of the upfront consideration
and reduce the gold stream percentage from 10% to 0.909% and the silver stream percentage from 50% to nil. If Wheaton Precious Metals elects to terminate, Wheaton Precious Metals will be entitled to a return of the
amounts advanced less $2 million which is non-refundable on the occurrence of certain events. If Wheaton Precious Metals elects to reduce the streams, Sandspring Resources Ltd. (“Sandspring”) may return the amount
of the deposit already advanced less $2 million to Wheaton Precious Metals and terminate the agreement.
16.Glencore owns 33.75% of the Antamina mine through a joint venture. Wheaton Precious Metals is entitled to Gelncore’s portion of the silver production.
17.Once the Company has received 140 million ounces of silver under the Antamina agreement, the Company’s attributable silver production to be purchased will be reduced to 22.5%.
18.Comprised of $4.75 million paid to date, $9.25 million which is payable on an installment basis spread out over a period of up to eight years and $126 million payable on an installment basis to partially fund construction of
the mine once certain conditions have been satisfied.
19.Once 90 million silver equivalent ounces attributable to Wheaton Precious Metals have been produced, the attributable production to be purchased will decrease to 66.67% of silver & 16.67% of gold production for the life
of mine.
NOTES TO TIMELINE
Appendix
36. 36Appendix
PRECIOUS METALS STREAMING
HOW IT WORKS
How Streaming Works
Wheaton makes an upfront
payment and in return we
purchase a fixed percentage
of the future silver and/or gold
production from a mine at a
predetermined price
Wheaton shares value differential with its partners resulting in a win-win model
Partner Mining
Company
Upfront payment
(Cash and/or WPM shares)
Delivery payment
($ per ounce)
Streaming
Agreement
Signed
Permitting
and financing
in place**
Stream modified
or cancelled per
streaming contract
Ounces delivered
& production
payments made
Upfront
payment (s)
made
Streaming
Agreement
Signed
Ounces delivered
& production
payments made
Upfront
payment (s)
made
Development Project
Operating Mine
Completion
Test***
Satisfied?
Yes
No
Traditional Structure
Completion
Test Satisfied?
37. 37Appendix
HIGH-QUALITY ASSET BASE
KEY ASSET UPDATES1,2,23
Salobo: 75% of gold production for life of mine (mine life currently >40 years)
245koz of gold forecast in 2017 – on track to meet guidance
Salobo III (additional 12Mtpa expansion) currently under consideration
Exploration potential at depth – deep drill program underway
Peñasquito: 25% of silver production for life of mine
Silver grade expected to be elevated 2017-2021
Pyrite Leach Plant (PLP) commercial production expected Q1 2019
Additional 1 - 1.5Moz Ag per year to Wheaton Precious Metals
Antamina: 33.75% of silver (Glencore’s ownership percentage)
6.8Moz of silver produced in 2016 versus guidance of 5.5Moz
Forecast 6Moz for 2017
Exploration potential at depth and regionally
San Dimas23: 100% of silver up to 6Moz plus 50% thereafter for life of mine
Operations resumed on April 18, 2017 – WPM 2017 guidance of 4Moz Ag
Currently engaged in strategic process
Constancia: 100% of silver and 50% of gold for life of mine
Pampacancha production targeted by end of 2018
Processing ore at 30% above reserve grade for first 5 years of operation
Pascua Lama: 25% of silver for life of mine – Signs of Life…
Initiation of prefeasibility study for underground mine on Lama (Argentina)
Barrick signs strategic initiative with Shandong Gold to explore development
Salobo Mine - Brazil
Peñasquito Mine - Mexico
Antamina Mine - Peru
38. 38
CANADA REVENUE AGENCY DISPUTE
& AUDIT OF INTERNATIONAL TRANSACTIONS
CRA Position/Status
Potential Income
Inclusion
Potential Income Tax
Payable 24
Payments
Made/Pending
Timing
2005-2010
Taxation Years
Transfer pricing
provisions of the Act
should apply such that
Wheaton Precious Metals’
income subject to tax in
Canada should be
increased by an amount
equal to substantially all
of the income earned
outside of Canada by
Wheaton Precious Metals’
foreign subsidiaries.
CRA has reassessed
Wheaton Precious Metals
and is seeking to increase
Wheaton Precious Metals’
income subject to tax in
Canada by
Cdn$715million.
CRA has reassessed
Wheaton Precious Metals
and is seeking to impose
income tax of $155 million
(Cdn$201 million).25,26
Wheaton Precious
Metals has posted
security in the form of
letters of guarantee
totaling $156 million
(Cdn$202 million)
reflecting 50% of all
assessed tax,
penalties and interest
accrued to March 15,
2018.26, 27
An appeal in the
Tax Court of
Canada
commenced
January 8, 2016.
Timing of
resolution of the
matter in court is
uncertain.
2011-2013
Taxation Years
CRA Audit commenced
January 19, 2016. CRA
has not issued a proposal
or reassessment.
If CRA were to reassess on
similar basis as 2005-2010
taxation years, CRA would
seek to increase Wheaton
Precious Metals’ income
subject to tax in Canada by
approximately
$1.2 billion.28
If CRA were to reassess on
a similar basis as 2005-
2010 taxation years, CRA
would seek to impose
income tax of approximately
$239 million (Cdn$310
million).28, 29
N/A
Time to complete
CRA audit
unknown.
2014-2016
Taxation Years
Remain open to audit by
CRA.
If CRA were to audit and
then reassess on similar
basis as 2005-2010
taxation years, CRA would
seek to increase Wheaton
Precious Metals' income
subject to tax in Canada by
approx. $550 million.28
If CRA were to audit and
then reassess on similar
basis as 2005-2010 taxation
years, CRA would seek to
impose income tax of
approximately $135
Million (Cdn $175 million).28,
30
N/A N/A
Appendix
39. 39
WHEATON’S OPERATIONAL STRUCTURE
SERVICES PROVIDED BY CANADA AVAILABLE FROM THIRD PARTIES
Stream on
Canadian Mine
Stream on
Mine Located
Outside of
Canada
Ounces
delivered
Canada
(Subject to Canadian Tax)
Third Parties International
(Subject to Foreign Tax)
Technical
Legal
Services
Upfront &
Delivery
Payment
Ounces
delivered
Upfront &
Delivery
Payment
Financial
Investment Banks,
Technical Consultants, Law
Firms, Accountants, etc.
Operational Services
Gold / Silver
Sales
Contract
Management
Commodity
Research
Wheaton Precious
Metals
Wheaton Precious
Metals Int.
Appendix
41. 41
The Company’s revolving credit facility has two financial covenants:
• Maximum Net Debt to Tangible Net Worth Ratio of less than or equal to 0.75:1.00; and
• Minimum Interest Coverage Ratio of greater than or equal to 3.00:1.00
The Company can comfortably comply with these two covenants
STRONG BALANCE SHEET
FINANCIAL COVENANTS
Maximum Net Debt to
Tangible Net Worth1,32
Minimum Interest
Coverage1,32
Wheaton can comfortably comply with financial covenants
0.22
-
0.20
0.40
0.60
0.80
1.00
Ratio
21.0
-
5.0
10.0
15.0
20.0
25.0
Ratio
Covenant
of ≤ 0.75
Covenant
of ≥ 3.00
Appendix
46. 46
ATTRIBUTABLE RESERVES AND RESOURCES
FOOTNOTES
1. All Mineral Reserves and Mineral Resources have been estimated in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards for Mineral Resources and Mineral
Reserves and National Instrument 43-101 – Standards for Disclosure for Mineral Projects (“NI 43-101”), or the 2012 Australasian Joint Ore Reserves Committee (JORC) Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves.
2. Mineral Reserves and Mineral Resources are reported above in millions of metric tonnes (“Mt”), grams per metric tonne (“g/t”) and millions of ounces (“Moz”).
3. Qualified persons (“QPs”), as defined by the NI 43-101, for the technical information contained in this document (including the Mineral Reserve and Mineral Resource estimates) are:
a. Neil Burns, M.Sc., P.Geo. (Vice President, Technical Services); Ryan Ulansky, M.A.Sc., P.Eng. (Senior Director, Engineering), both employees of the Company (the “Company’s QPs”).
4. The Mineral Resources reported in the above tables are exclusive of Mineral Reserves. The San Dimas mine, Minto mine, Neves-Corvo mine, Zinkgruvan mine, Stratoni mine and Toroparu project (gold only)
report Mineral Resources inclusive of Mineral Reserves. The Company’s QPs have made the exclusive Mineral Resource estimates for these mines based on average mine recoveries and dilution.
5. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
6. Other than as detailed below, Mineral Reserves and Mineral Resources are reported as of December 31, 2016 based on information available to the Company as of the date of this document, and therefore will
not reflect updates, if any, after such date.
a. Mineral Resources for Aljustrel’s Feitais and Moinho mines are reported as of November 30, 2010. Mineral Resources for the Estaçao project are reported as of December 31, 2007.
b. Mineral Resources for the Cotabambas project are reported as of June 20, 2013.
c. Mineral Resources for Keno Hill’s Elsa Tailings project are reported as of April 22, 2010. and Bellekeno mine Indicated Mineral Resources as of September 30, 2013. Mineral Resources for the Loma de
La Plata project are reported as of May 20, 2009.
d. Mineral Resources for the Loma de La Plata project are reported as of May 20, 2009.
e. Mineral Resources and Mineral Reserves for the Peñasquito, Neves-Corvo and Zinkgruvan mines are reported as of June 30, 2016.
f. Mineral Resources and Mineral Reserves for the Metates royalty are reported as of April 29, 2016.
g. Mineral Resources and Mineral Reserves for the Toroparu project gold are reported as of March 31, 2013. Mineral Resources for the Toroparu project silver are reported as of September 1, 2014 and
Mineral Resources for the Sona Hill project gold are reported as of February 22, 2017.
7. Process recoveries are the average percentage of silver or gold in a saleable product (doré or concentrate) recovered from mined ore at the applicable site process plants as reported by the operators.
8. Mineral Reserves are estimated using appropriate process and mine recovery rates, dilution, operating costs and the following commodity prices:
a. Antamina mine - $2.97 per pound copper, $1.03 per pound zinc, $10.70 per pound molybdenum and $18.72 per ounce silver.
b. Constancia mine - $6.04 per tonne NSR cut-off assuming $1,260 per ounce gold, $18.00 per ounce silver, $3.00 per pound copper and $11.00 per pound molybdenum.
c. Lagunas Norte and Veladero mines - $1,000 per ounce gold and $13.75 per ounce silver.
d. Los Filos mine - $1,200 per ounce gold and $18.00 per ounce silver.
e. Metates royalty – 0.34 grams per tonne gold equivalent cut-off assuming $1,200 per ounce gold and $19.20 per ounce silver.
f. Minto mine – 0.5% copper cut-off for Open Pit and 1.2% copper cut-off for Underground assuming $300 per ounce gold, $3.90 per ounce silver and $2.50 per pound copper.
g. Neves-Corvo mine – 1.3% copper equivalent cut-off for the copper Reserves and 5.2% zinc equivalent cut-off for the zinc Reserves, both assuming $2.75 per pound copper, $1.00 per pound lead and
zinc.
h. Pascua-Lama project - $1,200 per ounce gold, $16.50 per ounce silver and $2.75 per pound copper.
i. Peñasquito mine - $1,200 per ounce gold, $18.00 per ounce silver, $0.90 per pound lead and $0.95 per pound zinc.
j. Rosemont project - $6.00 per ton NSR cut-off assuming $18.00 per ounce silver, $2.75 per pound copper and $11.00 per pound molybdenum.
k. Salobo mine – 0.253% copper equivalent cut-off assuming $1,200 per ounce gold and $2.86 per pound copper.
l. San Dimas mine – 3.22 grams per tonne gold equivalent cut-off assuming $1,200 per ounce gold and $17.00 per ounce silver.
m. Stratoni mine – 15.54% zinc equivalent cut-off assuming $7.74 per ounce silver, $0.82 per pound lead and $0.91 per pound zinc.
n. Sudbury mines - $1,200 per ounce gold, $6.63 per pound nickel, $2.39 per pound copper, $1,150 per ounce platinum, $750 per ounce palladium and $12.50 per pound cobalt.
o. Toroparu project – 0.38 grams per tonne gold cut-off assuming $1,070 per ounce gold for fresh rock and 0.35 grams per tonne gold cut-off assuming $970 per ounce gold for saprolite.
p. Yauliyacu mine - $18.00 per ounce silver, $2.64 per pound copper, $0.89 per pound lead and $0.99 per pound zinc.
q. Zinkgruvan mine – 3.9% zinc equivalent cut-off for the zinc Reserve and 1.5% copper cut-off for the copper Reserve, both assuming $2.75 per pound copper and $1.00 per pound lead and zinc.
r. 777 mine – $1,300 per ounce gold, $18.00 per ounce silver, $2.67 per pound copper and $1.24 per pound zinc.
9. Mineral Resources are estimated using appropriate recovery rates and the following commodity prices:
a. Aljustrel mine – 4.5% zinc cut-off for Feitais and Moinho mines zinc Resources and 4.0% zinc cut-off for Estação zinc Resources.
b. Antamina mine - $2.97 per pound copper $1.03 per pound zinc, $10.70 per pound molybdenum and $18.72 per ounce silver.
c. Constancia mine – $6.04 per tonne NSR cut-off assuming $1,260 per ounce gold, $18.00 per ounce silver, $3.00 per pound copper and $11.00 per pound molybdenum.
d. Cotabambas project – 0.2% copper equivalent cut-off assuming $1,350 per ounce gold, $23,00 per ounce silver, $3.20 per pound copper and $12,50 per pound molybdenum.
Appendix
47. 47
ATTRIBUTABLE RESERVES AND RESOURCES
FOOTNOTES (CONTINUED)
9. (con).
e. Keno Hill mines:
i. Bellekeno mine – Cdn $185 per tonne NSR cut-off assuming $22.50 per ounce silver, $0.85 per pound lead and $0.95 per pound zinc.
ii. Lucky Queen, Onek, Flame and Moth and Bermingham – Cdn $185 per tonne NSR cut-off assuming $1,300 per ounce gold, $20.00 per ounce silver, $0.95 per pound lead and $1.00 per
pound zinc.
iii. Elsa Tailings project – 50 grams per tonne silver cut-off.
f. Loma de La Plata project – 50 grams per tonne silver equivalent cut-off assuming $12.50 per ounce silver and $0.50 per pound lead.
g. Los Filos mine - $1,400 per ounce gold and $20.00 per ounce silver.
h. Metates royalty – 0.34 grams per tonne gold equivalent cut-off assuming $1,200 per ounce gold and $19.20 per ounce silver.
i. Minto mine – 0.5% copper cut-off for Open Pit and 1.0% copper cut-off for Underground.
j. Neves-Corvo mine – 1.0% copper cut-off for the copper Resource and 3.0% zinc cut-off for the zinc Resource, both assuming $2.75 per pound copper and $1.00 per pound lead and zinc.
k. Pascua-Lama project – $1,500 per ounce gold, $18.75 per ounce silver and $3.50 per pound copper.
l. Peñasquito mine - $1,400 per ounce gold, $20.00 per ounce silver, $1.00 per pound lead and zinc.
m. Rosemont project – $5.70 per ton NSR cut-off assuming $18.00 per ounce silver, $2.75 per pound copper and $11.00 per pound molybdenum.
n. Salobo mine – 0.253% copper equivalent cut-off assuming $1,200 per ounce gold and $2.86 per pound copper.
o. San Dimas mine – 2.00 grams per tonne gold equivalent cut-off assuming $1,200 per ounce gold and $17.00 per ounce silver.
p. Stratoni mine – 15.54% zinc equivalent cut-off assuming $7.74 per ounce silver, $0.82 per pound lead and $0.91 per pound zinc.
q. Sudbury mines - $1,200 per ounce gold, $6.63 per pound nickel, $2.39 per pound copper, $1,150 per ounce platinum, $750 per ounce palladium and $12.50 per pound cobalt.
r. Toroparu project – 0.30 grams per tonne gold cut-off assuming $1,350 per ounce gold for the Toroparu project and 0.31 grams per tonne cut-off assuming $1,400 per ounce gold for Sona Hill
project.
s. Yauliyacu mine – $18.00 per ounce silver, $2.64 per pound copper and $0.89 per pound lead and $0.99 per pound zinc.
t. Zinkgruvan mine – 3.9% zinc equivalent cut-off for the zinc Resource and 1.0% copper cut-off for the copper Resource, both assuming $2.75 per pound copper and $1.00 per pound lead and zinc.
u. 777 mine – $1,300 per ounce gold, $18.00 per ounce silver, $2.67 per pound copper and $1.24 per pound zinc.
10. The scientific and technical information in this document regarding the Peñasquito mine and the San Dimas mine was sourced by the Company from the following SEDAR (www.sedar.com) filed documents:
a. Peñasquito - Goldcorp annual information form filed on March 16, 2017; and
b. San Dimas - Primero annual information form filed on March 31, 2017.
11. The San Dimas silver purchase agreement provides that Primero will deliver to the Company a per annum amount equal to the first 6.0 million ounces of payable silver produced at the San Dimas mine and 50%
of any excess, for the life of mine.
12. The Company’s attributable Mineral Resources and Mineral Reserves for the Lagunas Norte, Veladero, and Antamina silver interests, in addition to the Sudbury gold interests, have been constrained to the
production expected for the various contracts.
13. The Antamina Silver Purchase Agreement in respect to the Antamina mine (November 3, 2015) provides that Glencore will deliver 33.75% of the silver production until 140 million ounces are delivered and
22.5% of silver production thereafter, for a 50 year term that can be extended in increments of 10 years at the Company’s discretion. Attributable reserves and resources have been calculated on the 33.75% /
22.5% basis.
14. The Yauliyacu silver purchase agreement provides that Glencore will deliver to the Company a per annum amount equal to the first 1.5 million ounces of payable silver produced at the Yauliyacu mine and 50%
of any excess for the life of the mine.
15. The Rosemont mine Mineral Resources and Mineral Reserves do not include the Oxide material.
16. The Company only has the rights to silver contained in concentrates containing less than 15% copper at the Aljustrel mine.
17. Under the terms of the Cotabambas Early Deposit Agreement, the Company will be entitled to purchase 100% of the silver production and 25% of the gold production from the Cotabambas project until 90
million silver equivalent ounces attributable to the Company have been delivered, at which point the stream will drop to 66.67% of silver production and 16.67% of gold production for the life of mine.
18. The Company’s agreement with Sandspring is an early deposit structure whereby the Company will have the option not to proceed with the 10% gold stream and 50% silver stream on the Toroparu project
following the delivery of a bankable definitive feasibility study.
19. Effective August 7, 2014, the Company entered into an agreement for a 1.5% net smelter returns royalty on Chesapeake Gold Corp’s (Chesapeake) Metates property, located in Mexico. As part of the
agreement, Chesapeake will have the right at any time for a period of five years to repurchase two-thirds of the royalty, with the Company retaining a 0.5% royalty interest.
20. Silver and gold subject to the precious metal purchase agreements are produced as by-product metal at all operations with the exception of silver at the Keno Hill mines and Loma de La Plata project and gold at
the Toroparu project; therefore, the economic cut-off applied to the reporting of silver and gold Mineral Resources and Mineral Reserves will be influenced by changes in the commodity prices of other metals at
the time of reporting.
Appendix
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END NOTES
1. The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of
1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking statements, which are all
statements other than statements of historical fact, include, but are not limited to, statements with respect to: future payments by the Company in
accordance with precious metal purchase agreements, including any acceleration of payments, estimated throughput and exploration potential; projected
increases to Wheaton Precious Metals' production and cash flow profile; the expansion and exploration potential at the Salobo and San Dimas mines;
projected changes to Wheaton Precious Metals' production mix; anticipated increases in total throughput; the effect of the SAT legal claim on Primero's
business, financial condition, results of operations and cash flows for 2010-2014 and 2015-2019; the ability of Primero to continue as a going concern;
potential amendments or revisions to the San Dimas silver purchase agreement; the Guarantee of the Primero Facility; the completion of the strategic
cooperation agreement between Barrick and Shandong Gold Group Co. Ltd.; the impact of the temporary restriction on the addition of cyanide to the
Veladero mine heap leach facility; the estimated future production; the future price of commodities; the estimation of mineral reserves and mineral
resources; the realization of mineral reserve estimates; the timing and amount of estimated future production (including 2017 and average attributable
annual production over the next five years); the costs of future production; reserve determination; estimated reserve conversion rates and produced but not
yet delivered ounces; any statements as to future dividends, the ability to fund outstanding commitments and the ability to continue to acquire accretive
precious metal stream interests; confidence in the Company’s business structure; the Company’s position relating to any dispute with the CRA and the
Company’s intention to defend reassessments issued by the CRA; the impact of potential taxes, penalties and interest payable to the CRA; possible audits
for taxation years subsequent to 2013; estimates as to amounts that may be reassessed by the CRA in respect of taxation years subsequent to 2010;
amounts that may be payable in respect of penalties and interest; the Company’s intention to file future tax returns in a manner consistent with previous
filings; that the CRA will continue to accept the Company posting security for amounts sought by the CRA under notices of reassessment for the 2005-2010
taxation years or will accept posting security for any other amounts that may be sought by the CRA under other notices of reassessment; the length of time
it would take to resolve any dispute with the CRA or an objection to a reassessment; and assessments of the impact and resolution of various tax matters,
including outstanding audits, proceedings with the CRA and proceedings before the courts; and assessments of the impact and resolution of various legal
and tax matters, including but not limited to outstanding class action litigation. Generally, these forward-looking statements can be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “projects”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, “potential”, or variations of such words and phrases or statements that certain actions, events
or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wheaton Precious Metals to be
materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the satisfaction of each
party's obligations in accordance with the terms of the precious metal purchase agreements, including any acceleration of payments, estimated throughput
and exploration potential; fluctuations in the price of commodities; risks related to the Mining Operations including risks related to fluctuations in the price of
the primary commodities mined at such operations, actual results of mining and exploration activities, environmental, economic and political risks of the
jurisdictions in which the Mining Operations are located, and changes in project parameters as plans continue to be refined; the absence of control over
Mining Operations and having to rely on the accuracy of the public disclosure and other information Wheaton Precious Metals receives from the owners and
operators of the Mining Operations as the basis; for its analyses, forecasts and assessments relating to its own business; Primero is not able to defend the
validity of the 2012 APA, is unable to pay taxes in Mexico based on realized silver prices or the SAT proceedings or actions otherwise have an adverse
Appendix
49. 49
END NOTES
1. (Cont.) impact on the business, financial condition or results of operation of Primero; Primero not being able to continue as a going concern; Primero not
being able to secure additional financing, resume San Dimas mine operations to normal operating capacity, reduce cash outflows or have a successful
outcome to a strategic review process; the significance, value or type of any proposed amendments or revisions to the San Dimas silver purchase
agreement could have a material adverse impact on the Company’s business, financial condition results of operation and cash flow; Primero failing to make
required payments or otherwise defaulting under its credit facility and the Company having to meet its guarantee obligations under the Guarantee; the
strategic cooperation agreement between Barrick and Shandong Gold Group Co. Ltd. will not be completed; the restriction on the addition of cyanide to the
Veladero mine heap leach facility is not temporary or otherwise significantly impacts production at Veladero; differences in the interpretation or application
of tax laws and regulations or accounting policies and rules; and Wheaton Precious Metals' interpretation of, or compliance with, tax laws and regulations or
accounting policies and rules, is found to be incorrect or the tax impact to the Company’s business operations is materially different than currently
contemplated; any challenge by the CRA of the Company’s tax filings is successful and the potential negative impact to the Company’s previous and future
tax filings; the Company’s business or ability to enter into precious metal purchase agreements is materially impacted as a result of any CRA reassessment;
any reassessment of the Company’s tax filings and the continuation or timing of any such process is outside the Company’s control; any requirement to pay
reassessed tax; the Company is not assessed taxes on its foreign subsidiary’s income on the same basis that the Company pays taxes on its Canadian
income, if taxable in Canada; interest and penalties associated with a CRA reassessment having an adverse impact on the Company’s financial position;
litigation risk associated with a challenge to the Company’s tax filings; credit and liquidity risks; hedging risk; competition in the mining industry; risks related
to Wheaton Precious Metals' acquisition strategy; risks related to the market price of the common shares of Wheaton Precious Metals; equity price risks
related to Wheaton Precious Metals' holding of long-term investments in other exploration and mining companies; risks related to the declaration, timing and
payment of dividends; the ability of Wheaton Precious Metals and the Mining Operations to retain key management employees or procure the services of
skilled and experienced personnel; litigation risk associated with outstanding legal matters; risks related to claims and legal proceedings against Wheaton
Precious Metals or the Mining Operations; risks relating to unknown defects and impairments; risks relating to security over underlying assets; risks related
to ensuring the security and safety of information systems, including cyber security risks; risks related to the adequacy of internal control over financial
reporting; risks related to governmental regulations; risks related to international operations of Wheaton Precious Metals and the Mining Operations; risks
relating to exploration, development and operations at the Mining Operations; risks related to the ability of the companies with which the Company has
precious metal purchase agreements to perform their obligations under those precious metal purchase agreements in the event of a material adverse effect
on the results of operations, financial condition, cash flows or business of such companies; risks related to environmental regulations and climate change;
the ability of Wheaton Precious Metals and the Mining Operations to obtain and maintain necessary licenses, permits, approvals and rulings; the ability of
Wheaton Precious Metals and the Mining Operations to comply with applicable laws, regulations and permitting requirements; lack of suitable infrastructure
and employees to support the Mining Operations; uncertainty in the accuracy of mineral reserve and mineral resource estimates; inability to replace and
expand mineral reserves; risks relating to production estimates from Mining Operations, including anticipated timing of the commencement of production by
certain Mining Operations; uncertainties related to title and indigenous rights with respect to the mineral properties of the Mining Operations; fluctuation in
the commodity prices other than silver or gold; the ability of Wheaton Precious Metals and the Mining Operations to obtain adequate financing; the ability of
Mining Operations to complete permitting, construction, development and expansion; challenges related to global financial conditions; risks relating to future
sales or the issuance of equity securities; and other risks discussed in the section entitled “Description of the Business – Risk Factors” in Wheaton Precious
Metals' Annual Information Form available on SEDAR at www.sedar.com, and in Wheaton Precious Metals' Form 40-F filed March 31, 2017 and Form 6-K
filed March 21, 2017 both on file
Appendix
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END NOTES
1. (cont.) with the U.S. Securities and Exchange Commission in Washington, D.C. (the “Disclosure”). Forward-looking statements are based on assumptions
management currently believes to be reasonable, including but not limited to: the satisfaction of each party's obligations in accordance with the precious metal
purchase agreements; no material adverse change in the market price of commodities; that the Mining Operations will continue to operate and the mining
projects will be completed in accordance with public statements and achieve their stated production estimates; the continuing ability to fund or obtain funding
for outstanding commitments; that Primero is able to continue as a going concern; that there are currently no anticipated amendments or revisions to the San
Dimas silver purchase agreement; that Primero will make all required payments and not be in default under the Primero Facility; the strategic cooperation
agreement between Barrick and Shandong Gold Group Co. Ltd. will be completed; the restriction on the addition of cyanide to the Veladero mine heap leach
facility will be temporary and not significantly impact production at Veladero; Wheaton Precious Metals' ability to source and obtain accretive precious metal
stream interests; expectations regarding the resolution of legal and tax matters, including the ongoing class action litigation and CRA audit involving the
Company; Wheaton Precious Metals will be successful in challenging any reassessment by the CRA; Wheaton Precious Metals has properly considered the
application of Canadian tax law to its structure and operations; Wheaton Precious Metals will continue to be permitted to post security for amounts sought by
the CRA under notices of reassessment; Wheaton Precious Metals has filed its tax returns and paid applicable taxes in compliance with Canadian tax law;
Wheaton Precious Metals will not change its business as a result of any CRA reassessment; Wheaton Precious Metals' ability to enter into new precious
metal purchase agreements will not be impacted by any CRA reassessment; expectations and assumptions concerning prevailing tax laws and the potential
amount that could be reassessed as additional tax, penalties and interest by the CRA; any foreign subsidiary income, if taxable in Canada, would be subject
to the same or similar tax calculations as Wheaton Precious Metals' Canadian income, including the Company’s position, in respect of precious metal
purchase agreements with upfront payments paid in the form of a deposit, that the estimates of income subject to tax is based on the cost of precious metal
acquired under such precious metal purchase agreements being equal to the market value of such precious metal; the estimate of the recoverable amount for
any precious metal purchase agreement with an indicator of impairment; and such other assumptions and factors as set out in the Disclosure. Although
Wheaton Precious Metals has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ
materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements
not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or
results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected
consequences to, or effects on, Wheaton Precious Metals. Accordingly, readers should not place undue reliance on forward-looking statements and are
cautioned that actual outcomes may vary. The forward-looking statements included herein are for the purpose of providing investors with information to assist
them in understanding Wheaton Precious Metals' expected financial and operational performance and may not be appropriate for other purposes. Any
forward looking statement speaks only as of the date on which it is made. Wheaton Precious Metals does not undertake to update any forward-looking
statements that are included or incorporated by reference herein, except in accordance with applicable securities laws.
2. CAUTIONARY NOTE TO UNITED STATES INVESTORS REGARDING PRESENTATION OF MINERAL RESERVE AND MINERAL RESOURCE
ESTIMATES: The information contained herein has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ
from the requirements of United States securities laws. The terms “mineral reserve”, “proven mineral reserve” and “probable mineral reserve” are Canadian
mining terms defined in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian
Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Standards on Mineral Resources and Mineral Reserves,
Appendix
51. 51
END NOTES
2. (cont.) adopted by the CIM Council, as amended (the “CIM Standards”). These definitions differ from the definitions in Industry Guide 7 (“SEC Industry Guide
7”) under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). Under U.S. standards, mineralization may not be classified as a “reserve”
unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve
determination is made. Also, under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year
historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with
the appropriate governmental authority. In addition, the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred
mineral resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and are
normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that any part or all of the
mineral deposits in these categories will ever be converted into reserves. “Inferred mineral resources” have a great amount of uncertainty as to their existence
and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases.
Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Mineral resources that
are not mineral reserves do not have demonstrated economic viability. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian
regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage
and grade without reference to unit measures. Accordingly, information contained herein that describes the Company’s mineral deposits may not be
comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the United States federal securities
laws and the rules and regulations thereunder. United States investors are urged to consider closely the disclosure in the Annual Information Form, a copy of
which is available at www.sec.gov.
3. Company reports & Wood Mackenzie est. of 2016 byproduct cost curves for gold, zinc/lead, copper, nickel & silver mines. Production and reserves and
resources assume a Au:Ag ratio of 73:1 (based on Wheaton Precious Metals' average realized gold & silver price of $1,246 & 16.96, respectively). Portfolio
mine life based on recoverable reserves and resources of as of Dec. 31, 2016 and 2016 actual mill throughput (except Salobo which assumes 24Mtpa), and
is weighted by individual reserve and resource category.
4. 2016 Production based on Avg. realized gold & silver price of $1,246 & 16.96, respectively. 2017-2021E assumes a Au:Ag ratio of 70:1; Production forecast
includes the impact of the expiration of the Cozamin stream in 2017, Barrick Other streams in 2018, & the reduction of the 777 gold stream from 100% to 50%
in 2017 as Constancia satisfied its completion test. Optionality based on 10-year averages for Rosemont, Cotabambas, Toroparu, & Navidad and a 5-year
average for Pascua Lama.
5. Pascua Lama Technical Report – Barrick - dated March 31, 2011; Rosemont Technical Report – Hudbay – dated August 28, 2012; Vale Day Presentation
dated November 29, 2016; Goldcorp 2017 Investor Day Presentation dated January 17, 2017; Updated Preliminary Assessment for Keno Hill Silver District
Project – Phase 2, dated December 10, 2014; Toroparu Technical Report Prefeasibility Study – Sandspring Resources – Dated May 24, 2013; Navidad
Preliminary Assessment – Pan American Silver – dated January 14, 2010.
6. Ongoing delivery payments are generally fixed at approximately US$4/oz for silver and US$400/oz for gold with an inflationary adjustment of approximately
1% per annum after the third year of production; Production payments at Antamina, representing 8-10% of total forecast production, fixed at 20% of spot
silver prices.
7. Refer to non-IRFS measures at the end of this presentation.
Appendix
52. 52
END NOTES
8. 2017-2021E average cash costs are calculations based on existing agreements contributing to 2017-2021 production forecasts.
9. General and administrative costs per gold equivalent ounce calculated using a Au:Ag ratio based on the realized annual price for the year reported.
10. ‘Administrative Costs’ equal Corporate G&A presented as a % of Enterprise Value for SLW; as a % of NAV for SLV, PLSV and SPDR. 2016 G&A of $34.4M
and Enterprise value of $9.9B on October 13, 2017. Fund prospectus’ as of Aug 31, 2016. Bullion storage fee for new client relationships at ScotiaMocatta,
price quoted for Toronto and NY vaults.
11. From Dec. 31, 2004 to Dec. 31, 2016, Mineral Reserves and Mineral Resources are as of Dec. 31 for each year (see Silverwheaton.com); Current reserves
and resources include reserves and resources updated to Dec 31 2016; Cumulative mined production based on management estimates & company reports.
Gold and silver equivalent calculated on a gold : silver ratio of 70:1 (based on Q1/2017 LME averages of $1219 gold and $17.41 silver)
12. Estimated operating cash flow calculations assume for each year between 2017 and 2021 (i) production forecasted to average on an annual basis 29 million
silver ounces and 340,000 gold ounces, (ii) production payments of between $4.17 and $4.68 per silver ounce and between $393 and $413 per gold ounce,
(iii) 90% payable rates, (iv) indicated silver and gold prices being in place throughout the periods, (v) deduction of general & administrative expenses of
approximately $30 million on an annual basis, (vi) calculation before dividends, interest expense and taxes, and (vii) successful resolution of the CRA dispute.
Cash flow estimates are made as of April 3, 2017, are presented to show impact of silver and gold prices on cash flow and are not guaranteed. Excludes
C$192 letter of guarantee posted in connection with the CRA dispute. Revolving Credit Facility of $2 billion with term to February 2022. Cash balance of $77
million and approx. $1.0 billion drawn on the Revolving Credit Facility as of June 30, 2017. Please see also Note 1 for material risks, assumptions, and
important disclosure associated with this information, including, but not limited to, risks and assumptions associated with fluctuations in the price of
commodities, the absence of control over mining operations from which Wheaton Precious Metals purchases silver or gold, production estimates and the
challenge by the CRA of Wheaton Precious Metals' tax filings.
13. Estimates of interest given as of the date stated. Interest accrues until payment date
14. The declaration and payment of dividends remains at the discretion of the Board and will depend on the Company’s cash requirements, future prospects and
other factors deemed relevant by the Board.
15. Capex is defined as the capital expenditure estimate by the partner mining company for the mine construction or expansion at the time the stream agreement
was closed. Stream as a percentage of mine revenue is based off of 2016 revenue from the mine and includes the production payments made by the
Company.
16. Ongoing delivery payments are generally fixed at approximately US$4/oz for silver and US$400/oz for gold with an inflationary adjustment of approximately
1% per annum after the third year of production; Production payments at Antamina, representing 8-10% of total forecast production, fixed at 20% of spot
silver prices.
17. Company reports and Factset as of October 13, 2017; 2016 Q3–2017 Q2 Financials for Wheaton Precious Metals and Franco Nevada and Fiscal 2017 Q1 –
2017 Q4 Financials for Royal Gold; Adjusted Net earnings are used for this comparison. Q4 ’16 impairments of $67.4 million for FNV and $71.0 million for
WPM.
18. P/E and P/OCF from company reports (rolling 4 quarters used for adjusted earnings and cash flow) and FactSet as of October 13, 2017; 2016 Q3 – 2017 Q2
Financials for Wheaton Precious Metals and Franco Nevada and Fiscal 2017 Q1 – 2017 Q4 Financials for Royal Gold; P/NAV (P/NPV for BMO) is based on
the October 13, 2017 closing share price and the average NAV from Bank of America Merrill Lynch, Canaccord Genuity, Macquarie, National Bank Financial,
BMO (NPV) and Royal Bank of Canada and is subject to the assumptions set out in those analysts’ reports.
Appendix
53. 53
END NOTES
19. Wheaton implied market capitalization if using price / adjusted net earnings, price / operating cash flow on October 13, 2017 for Royal Gold and Franco
Nevada and applying those multiples to Wheaton, and average NAV multiples using pricing from October 13, 2017 and NAV estimates for Royal Gold and
Franco Nevada from Bank of America Merrill Lynch, Canaccord Genuity, Macquarie, National Bank Financial, BMO (NPV) and Royal Bank of Canada, subject
to the assumptions set out in those analysts’ reports, and applying those average NAV multiples to Wheaton.
20. Wheaton Precious Metals’ Total Return from 2005 averaged over various time horizons versus gold and silver over the same period. Data from Factset.
Includes dividend payments.
21. Per the treasury method.
22. Upfront payment denoted in US$ millions; excludes closing costs and capitalized interest, where applicable. See notes specific to the Timeline on the page
immediately following Timeline graphs.
23. Primero has disclosed a dispute with the Mexican tax authority (“SAT”) in regards to the San Dimas mine, which if unsuccessful could have a material adverse
effect on Primero’s business, financial condition, results of operations and cash flows for 2010-2014 and 2015-2019. This may also have a material adverse
effect on Wheaton Precious Metals' ability to purchase silver under the silver purchase agreement.
24. For the taxation years ended after December 31, 2010, the Company files its Canadian tax returns in US dollars. However, taxes payable, if any, are payable
in Canadian dollars based on the exchange rate applicable on the original payment due date. As a result, the US dollar amounts reflected in the table above
are subject to fluctuations in the value of the Canadian dollar relative to the US dollar. Canadian dollar amounts in this table have been converted to US
dollars at the exchange rate applicable at the balance sheet date as quoted by the Bank of Canada.
25. For the 2005-2010 taxation years, transfer pricing penalties of $55 million (Cdn$72 million) and interest and other penalties of $62 million (Cdn$81 million)
were also assessed by the CRA. The total reassessment issued on September 24, 2015 was $272 million (Cdn$353 million). Additional interest accruing to
December 31, 2016 on the total amount reassessed is estimated at $19 million (Cdn$24 million) for the 2005-2010 taxation years.
26. As a consequence of the CRA’s reassessment of the 2005-2010 taxation years, CRA has denied non-capital losses of $12 million and $14 million that the
Company had carried forward and applied to the 2011 and 2012 taxation years, respectively. Accordingly, the Company has carried back non-capital losses
from subsequent taxation years to eliminate the taxable income in the 2011 and 2012 taxation years. However, interest and penalties of $1.3 million
remained owing, 50% of which has been paid as the Company filed Notices of Objection with respect to the reassessments of the 2011 and 2012 taxation
years. The reassessments do not relate to the CRA international audit of the 2011-2013 taxation years.
27. Estimates of interest given as of the date stated. Interest accrues until payment date.
28. For precious metal purchase agreements with upfront payments paid in the form of a deposit, the estimates of income inclusion and tax payable are
computed on the basis that the cost of precious metal acquired under such precious metal purchase agreements is equal to the market value of such precious
metal.
29. If CRA were to reassess the 2011-2013 taxation years and continue to apply transfer pricing penalties, management estimates that transfer pricing penalties
of approximately $120 million and interest (calculated to December 31, 2016) and other penalties of approximately $81 million may be applicable for the 2011-
2013 taxation years.
30. If CRA were to reassess the 2014-2016 taxation years and continue to apply transfer pricing penalties, management estimates that transfer pricing penalties
of approximately $55 million and interest (calculated to December 31, 2016) and other penalties of approximately $14 million may be applicable for the 2014-
2016 taxation years.
Appendix
54. 54
END NOTES
31. Spot gold prices from Factset and consensus gold prices as compiled by CIBC World Markets.
32. As of June 30, 2017. Interest expense based on net debt and interest rates applicable to the Company’s revolving credit facility.
33. Gold forecast sourced from Metals Focus, Wood Mackenzie, CRU, GFMS, CPM Group, World Gold Council, WBMS and various banks. Silver forecast
sourced from Metals Focus, CRU, Thomson Reuters GFMS, CPM Group, WBMS, Wood Mackenzie and various banks.
Appendix
55. 55
NON-IFRS MEASURES
Wheaton Precious Metals has included, throughout this document, certain non-IFRS performance measures, including (i) adjusted net
earnings and adjusted net earnings per share; (ii) operating cash flow per share (basic and diluted); (iii) average cash costs of silver and
gold on a per ounce basis and; (iv) cash operating margin.
i. Adjusted net earnings and adjusted net earnings per share are calculated by removing the effects of the non-cash
impairment charges. The Company believes that, in addition to conventional measures prepared in accordance with IFRS,
management and certain investors use this information to evaluate the Company’s performance.
ii. Operating cash flow per share (basic and diluted) is calculated by dividing cash generated by operating activities by the
weighted average number of shares outstanding (basic and diluted). The Company presents operating cash flow per share
as management and certain investors use this information to evaluate the Company’s performance in comparison to other
companies in the precious metal mining industry who present results on a similar basis.
iii. Average cash cost of silver and gold on a per ounce basis is calculated by dividing the total cost of sales, less depletion, by
the ounces sold. In the precious metal mining industry, this is a common performance measure but does not have any
standardized meaning. In addition to conventional measures prepared in accordance with IFRS, management and certain
investors use this information to evaluate the Company’s performance and ability to generate cash flow.
iv. Cash operating margin is calculated by subtracting the average cash cost of silver and gold on a per ounce basis from the
average realized selling price of silver and gold on a per ounce basis. The Company presents cash operating margin as
management and certain investors use this information to evaluate the Company’s performance in comparison to other
companies in the precious metal mining industry who present results on a similar basis.
These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and other companies may calculate these
measures differently. The presentation of these non-IFRS measures is intended to provide additional information and should not be
considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For more detailed information,
please refer to Wheaton Precious Metals' Management Discussion and Analysis available on the Company’s website at
www.silverwheaton.com and posted on SEDAR at www.sedar.com.
Appendix