Silver Wheaton open to changes in San Dimas deal with Primero, CEO says [Seeking Alpha]
SILVER WHEATON (SLW)
US:NYSE Investor Relations:
wheatonpm.com/investors/default.aspx
Company Research
Source: Seeking Alpha
Silver Wheaton (NYSE: SLW ) would consider changing its financing deal with Primero Mining (NYSE: PPP ) on the San Dimas mine in Mexico if it would improve the "health of the asset," CEO Randy Smallwood says without specifying how the agreement could be restructured. PPP recently announced a cost-cutting program and strategic review to consider options such as asset sales; Smallwood says "There's no doubt that they've got some challenges in front of them, but we're confident... they can return to profitability." PPP has an agreement to sell SLW the first 6M oz. of silver produced from San Dimas each year, plus half of any excess, at $4.20/oz. plus an additional 1% for inflation, in a deal that continues to the end of the mine's life. Now read: Silver Wheaton: Let's Put This To Rest Shall We? »
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