Silver Wheaton Corp. (SLW.TO, SLW) will release 2012 full year
results on Thursday, March 21, 2013, after market close. A
conference call will be held Friday, March 22, 2013, starting at 11
) to discuss these results.
Last night it announced that attributable proven and probable
reserves increased by over 38% in 2012 to a record total of 1,116.1
million silver equivalent ounces, consisting of 851.4 million
ounces of silver and 4.96 million ounces of gold. Over the same
period, attributable measured and indicated resources increased 28%
to a record total of 603.2 million silver equivalent ounces,
consisting of 529.1 million ounces of silver and 1.39 million
ounces of gold. Attributable inferred resources totaled 341.4
million silver equivalent ounces, consisting of 294.7 million
ounces of silver and 0.88 million ounces of gold.
Silver Wheaton's increase in attributable reserves was a result
of both acquisition and organic growth, which, when combined, more
than offset depletion resulting from strong production over the
year. In 2012, the company acquired from Hudbay Minerals Inc.
(HBM.TO) a precious metals stream from its 777 mine and a silver
stream from its Constancia project. Subsequent to 2012 year end,
Silver Wheaton also acquired 25% of the gold from Vale S.A.'s
Salobo mine for the life of mine and 70% of the gold from certain
of its Sudbury operations for a 20-year period, with both these
agreements effective as of January 1, 2013. In addition to these
acquisitions, there was a substantial increase in reserves and
resources at Augusta Resource Corp's (
) Rosemont mine based on an updated feasibility study released on
July 24, 2012.
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