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Stock impact report

KGL Resources lands US$300m Wheaton funding for Jervois build [Yahoo! Finance]

Wheaton Precious Metals Corp Common Shares (Canada) (WPM) 
Last wheaton precious metals corp common shares (canada) earnings: 3/11 05:10 pm Check Earnings Report
US:NYSE Investor Relations: wheatonpm.com/investors/default.aspx
Company Research Source: Yahoo! Finance
KGL Resources Ltd (ASX:KGL, OTC:KGLLF) has secured a US$300 million precious metals streaming agreement with Wheaton Precious Metals that will help fund construction and development of the Jervois Copper Project in the Northern Territory. The package includes US$275 million in upfront consideration and a further US$25 million contingent cost overrun facility, with the initial US$32 million early deposit available once customary conditions are met. The funding is structured around silver and gold by-product streams, leaving KGL's copper production unencumbered and giving the company full exposure to the copper market. KGL said the deal recognises the value of Jervois' precious metals credits while avoiding traditional fixed repayment obligations and project financing-style covenants, which should reduce risk during commissioning and ramp-up. “We are delighted to secure this significant capital commitment from a leading global precious metals streaming company as a major cornerston Show less Read more
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