Wheaton Precious Metals to draw on revolver to fund purchase

Chicago, Dec. 22 – Wheaton Precious Metals Corp. said that it has enough cash and room on its revolving credit facility to fund acquisitions and purchase agreements, according to a press release.

The company has entered into a binding arrangement with Generation Mining Ltd. for a precious metal purchase agreement in respect to the Marathon Project located in Ontario.

As of Sept. 30, the company had $372 million of cash on hand and liquidity provided by the available credit on a C$2 billion term loan.

The cash and the revolver are sufficient to fund all outstanding commitments and known contingencies, including the recently announced acquisition of silver and gold streams in respect of the Blackwater project. The company feels it has enough funds to provide flexibility to acquire additional accretive mineral stream interests.

Wheaton Precious Metals is a Vancouver-based precious metals streaming company.

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