WPM Expands Long-Term Reserves With Closing of Hemlo Mine Financing

Core Insights - Wheaton Precious Metals Corp. has successfully closed a financing deal with Carcetti Capital Corporation for the acquisition of the Hemlo Mine from Barrick Mining Corporation, which will enhance production and cash flow for Wheaton [1][8] Group 1: Deal Details - Carcetti Capital has rebranded as Hemlo Mining Corp. following the acquisition deal with Barrick Mining, with Wheaton providing $300 million in upfront cash out of a total commitment of up to $400 million [2] - The Hemlo Mine is expected to add 0.19 million ounces to Wheaton's total proven and probable mineral gold reserves, diversifying its reserve base [3] Group 2: Production and Financial Impact - Wheaton will acquire 10.13% of the payable gold until Hemlo delivers 135,750 ounces, followed by 6.75% until an additional 117,998 ounces are delivered, and then 4.50% for the remaining life of the mine [4] - The Hemlo Mine is projected to operate for 14 years, with an average attributable gold stream production of around 15,000 ounces per year during the first decade and over 13,000 ounces per year throughout its life [5] Group 3: Stock Performance - Wheaton Precious Metals' shares have increased by 74.2% over the past year, significantly outperforming the industry average growth of 18.5% [6][8]