TSX:SLW
NYSE:SLW
VANCOUVER, May 22, 2014 /CNW/ - Silver Wheaton Corp. ("Silver Wheaton"
or the "Company") (TSX:SLW) (NYSE:SLW) is pleased to announce that it
has joined the World Gold Council. Through its recent acquisitions of
gold streams from Vale S.A. and Hudbay Minerals Inc., Silver Wheaton
has seen a substantial increase in both its current and forecast future
gold production from its diverse portfolio of global mining assets.
"During 2013, Silver Wheaton significantly increased the amount of gold
production within our portfolio. We are proud to be joining the World
Gold Council, and look forward to contributing to its vision of
providing industry leadership, while stimulating and sustaining the
worldwide demand for gold," said Randy Smallwood, President and Chief
Executive Officer of Silver Wheaton.
World Gold Council Chief Executive, Aram Shishmanian, stated; "We are
delighted that Silver Wheaton has become a member of our organisation.
The streaming model used by Silver Wheaton is becoming increasingly
important in the gold mining industry to attract investment and fund
gold and precious metal projects. With the addition of Silver Wheaton
to our Board, the World Gold Council now represents a substantial
proportion of this important element of the gold business."
About Silver Wheaton
Silver Wheaton is the largest precious metals streaming company in the
world. Based upon its current agreements, forecast 2014 annual
attributable production is approximately 36 million silver equivalent
ounces1, including 155,000 ounces of gold. By 2018, annual attributable
production is anticipated to increase significantly to approximately 48
million silver equivalent ounces1, including 250,000 ounces of gold. This growth is driven by the
Company's portfolio of low-cost and long-life assets, including
precious metal and gold streams on Hudbay's Constancia project and
Vale's Salobo and Sudbury mines.
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1 Silver equivalent production forecast assumes a gold/silver ratio of
60:1.
About The World Gold Council
The World Gold Council is the market development organisation for the
gold industry. Working within the investment, jewellery and technology
sectors, as well as engaging in government affairs, their purpose is to
provide industry leadership, whilst stimulating and sustaining demand
for gold. Based in the UK, with operations in India, the Far East,
Europe and the US, the World Gold Council is an association whose
members include the world's leading and most forward thinking gold
mining companies.
CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS
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 the future price of silver or gold, the estimation of
mineral reserves and resources, the realization of mineral reserve
estimates, the timing and amount of estimated future production
(including 2014 and 2018 attributable annual production), costs of
production, reserve determination, reserve conversion rates, statements
as to any future dividends, the ability to fund outstanding commitments
and continue to acquire accretive precious metal stream interests and
assessments of the impact and resolution of various legal and tax
matters. 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", "intends", "anticipates" or "does not anticipate", or
"believes", 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, operations, level of activity,
performance or achievements of Silver Wheaton to be materially
different from those expressed or implied by such forward-looking
statements, including but not limited to: fluctuations in the price of
silver or gold; the absence of control over mining operations from
which Silver Wheaton purchases silver or gold and risks related to
these 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; differences in the interpretation or application of tax laws
and regulations; and the Company's interpretation of, or compliance
with, tax laws, is found to be incorrect; as well as those factors
discussed in the section entitled "Description of the Business - Risk
Factors" in Silver Wheaton's Annual Information Form available on SEDAR
at www.sedar.com and in Silver Wheaton's Form 40-F on file with the U.S. Securities and
Exchange Commission in Washington, D.C. Forward-looking statements are
based on assumptions management believes to be reasonable, including
but not limited to: the continued operation of the mining operations
from which Silver Wheaton purchases silver and gold, no material
adverse change in the market price of commodities, that the mining
operations will operate and the mining projects will be completed in
accordance with their public statements and achieve their stated
production outcomes, the continuing ability to fund or obtain funding
for outstanding commitments, the ability to source and obtain accretive
precious metal stream interests, expectations regarding the resolution
of legal and tax matters, that Silver Wheaton will be successful in
challenging any reassessment by the Canada Revenue Agency and such
other assumptions and factors as set out herein. Although Silver
Wheaton has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that forward-looking statements will prove to be accurate.
Accordingly, readers should not place undue reliance on forward-looking
statements and are cautioned that actual outcomes may vary. Silver
Wheaton does not undertake to update any forward-looking statements
that are included or incorporated by reference herein, except in
accordance with applicable securities laws.
SOURCE Silver Wheaton Corp.