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Wheaton Precious Metals Corp’s (LON:WPM) wholly-owned subsidiary, Wheaton Precious Metals International Ltd. has entered into a firm agreement of precious metal purchase with Capstone Mining Corp.
- The deal is in respect to the acquisition of a new silver stream of the Cozamin Mine located in Zacatecas, Mexico which is a first quartile copper mine.
- Capstone will receive an upfront cash consideration of US$150 million from the company upon closing for 50 per cent of the silver production until 10 Moz (million ounces) have been delivered, thereafter dropping to 33 per cent of silver production for the life of the mine.
- Additionally, Wheaton will make ongoing payments for silver ounces delivered equal to 10 per cent of the spot silver price. The Precious Metal Stream is effective as on December 1, 2020.
