Wheaton Precious Metals announces the acquisition of existing streams from Orion Mine Finance

Company

Wheaton Precious Metals™ Corp.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Wheaton Precious Metals Corp.
Lawyer(s)

Curt Bernardi

Company

Wheaton Precious Metals International Ltd.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Wheaton Precious Metals Corp.
Lawyer(s)

Curt Bernardi

Company

Orion Mine Finance

Wheaton Precious Metals™ Corp. and its subsidiary, Wheaton Precious Metals International Ltd., announced a definitive agreement to acquire streams in Ivanhoe Mines' Platreef Project and BMC Minerals' Kudz Ze Kayah Project from Orion Resource Partners, and a new gold stream in Dalradian Gold's Curraghinalt Project. The total upfront cash consideration for these acquisitions is $530 million: $450 million for the Platreef and Kudz Ze Kayah streams, including a $5 million contingency for the latter, and $75 million for the Curraghinalt stream, with $20 million paid upfront and the rest during construction. These streams are expected to significantly enhance Wheaton's production profile with substantial gold, palladium, platinum, and silver output. The Platreef Project, under construction in South Africa, will contribute to Wheaton's reserves and resources in gold, palladium, and platinum. The Kudz Ze Kayah Project, in Canada, will add to Wheaton's gold and silver reserves, while the Curraghinalt Project in the UK will increase gold reserves. The transactions, subject to typical terms and conditions, are expected to close between late 2023 and early 2024. Wheaton's President, Randy Smallwood, emphasized the strategic fit and quality of these acquisitions. The financing for these transactions is supported by Wheaton's strong cash position and available credit.

Merger & Acquisition
Mining
$ 709,831,650
Active