Wheaton Precious Metals (TSX, NYSE, LSE: WPM) adds four new streams to its portfolio this year, lifting it to 22 operations and helping it approach one-million gold-equivalent ounces later this decade, CEO Randy Smallwood says.
New production is coming from Artemis Gold’s (TSXV: ARTG) Blackwater mine in British Columbia, B2Gold’s (TSX: BTO, NYSE-A: BTG) Goose mine in Nunavut, privately held Origin Mining’s Mineral Park in Arizona and Ivanhoe Mines’ (TSX: IVN; US-OTC: IVPAF) Platreef mine in South Africa. Wheaton guided 600,000–670,000 gold-equivalent oz. for the year and sees a path to about 870,000 oz. by 2029, with partner expansions offering upside.
“I’m super excited about going to a level that no streaming or royalty company has ever been to,” Smallwood told The Northern Miner’s Western Editor, Henry Lazenby, last month during the Mining Forum Americas in Colorado.
The market favours streams on single-asset developers trading below net asset value, Smallwood said, noting Wheaton’s willingness to support mergers and acquisitions with new gold streams. The streaming company meanwhile seeks to keep its portfolio weighted to first- and second-quartile cost assets to buffer against price volatility.
Watch the full interview below:
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