Monday, February 15, 2010

Silver Wheaton (TSE:SLW) Augusta (TSE:AZC) Gold, Silver

Silver Wheaton (TSE:SLW) Augusta (TSE:AZC)

Silver Wheaton Corp (TSE:SLW) announced it has made an agreement with Augusta (TSE:AZC) to acquire the gold and silver produced from the Rosemont Copper project for close to $230 million cash.

Silver Wheaton is a reseller of silver byproduct which it acquires from mining companies. With this particular deal the company is looking an annual production rate of 2.4 million ounces of silver and 15,000 ounces of gold.

Operating permits for Augusta are expected to be finalized in the fourth quarter of 2010, which at that time Silver Wheaton will begin payments.

Silver Wheaton (TSE:SLW) Augusta (TSE:AZC)

No comments: