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Silver Wheaton Corp.

Silver Wheaton Corp.

Sector: Silver Ores Region: Canada


: | Toronto Stock Exchange: SLW | New York Stock Exchange: SLW


Established in 2004, Silver Wheaton has quickly positioned itself as the largest precious metals streaming company in the world. The company has a number of agreements where, in exchange for an upfront payment, it has the right to purchase all or a portion of the silver and/or gold production, at a low fixed cost, from high-quality mines located in politically stable regions around the globe. 

Based upon its current agreements, forecast 2013 attributable production is approximately 33.5 million silver equivalent ounces, including 145 thousand ounces of gold. By 2017, annual attributable production is anticipated to increase significantly to approximately 49 million silver equivalent ounces, including 180 thousand ounces of gold. Other than its initial upfront payment, Silver Wheaton typically has no ongoing capital or exploration costs, and the company does not hedge its silver or gold production. 

Silver Wheaton’s industry-leading growth profile is driven by the company’s portfolio of low-cost and long-life assets, including streams on Barrick’s Pascua-Lama project, Hudbay’s Constancia project, and Vale’s Salobo and Sudbury mines. The company’s unique business model creates significant shareholder value by providing leverage to increases in the price of silver and gold, while reducing the downside risks faced by traditional mining companies. Silver Wheaton has an experienced management team with a strong track record of success and is well positioned for further growth.

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Silver Wheaton CEO Randy Smallwood

The Silver Wheaton CEO talked to MINING.com about the fall in gold prices, where opportunities lie and provided an update on the Pascua-Lama project.

Silver Wheaton Corp. video

Silver Wheaton CEO Randy Smallwood

Silver Wheaton Corp. video

Silver Wheaton rings the NYSE Closing Bell

Executives

Randy Smallwood, President & Chief Executive Officer
Mr. Smallwood is the President and Chief Executive Officer of Silver Wheaton. He holds a geological engineering degree from the University of British Columbia and is one of the founding members of the company. In 2007, he joined Silver Wheaton full time as Executive Vice President of Corporate Development, primarily focusing on growing the company through the evaluation and acquisition of silver stream opportunities. In January 2010 he was appointed President, and in April 2011 he was appointed Silver Wheaton's Chief Executive Officer. Mr. Smallwood originally started as an exploration geologist with Wheaton River Minerals Ltd., and in 2001 was promoted to Director of Project Development, his role through its 2005 merger with Goldcorp. Before joining the original Wheaton River group in 1993, Mr. Smallwood also worked with Homestake Mining Company, Teck Corp. and Westmin Resources. Randy was an instrumental part of the team that built Wheaton River / Goldcorp into one of the largest, and more importantly most profitable gold companies in the world, and is now focused on continuing to add to the impressive growth profile of Silver Wheaton.
Curt Bernardi, Senior Vice President, Legal & Corporate Secretary
Mr. Bernardi, Silver Wheaton's Senior Vice President, Legal & Corporate Secretary, has been practicing law since his call to the British Columbia bar in 1994. He worked for the law firm of Blake, Cassels & Graydon in the areas of corporate finance, mergers and acquisitions and general corporate law until leaving to join Westcoast Energy in 1998. Following the acquisition of Westcoast Energy by Duke Energy in 2002, Mr. Bernardi continued to work for Duke Energy Gas Transmission as in-house legal counsel, working primarily on reorganizations, mergers and acquisitions, joint ventures and general corporate/commercial work. In 2005, Mr. Bernardi joined Union Gas as their Director, Legal Affairs and was responsible for legal matters affecting Union Gas. He obtained his Bachelor of Commerce from the University of British Columbia and his Bachelor of Law from the University of Toronto.
Gary Brown, Senior Vice President & Chief Financial Officer
Mr. Brown, Silver Wheaton's Senior Vice President & Chief Financial Officer, is a seasoned finance professional with over 20 years of in-depth experience across a broad range of finance and business disciplines. He joined Silver Wheaton in 2008, and is currently the company’s Senior Vice President and Chief Financial Officer. Prior to Silver Wheaton, he was Chief Financial Officer of TIR Systems Ltd., during which time he was instrumental in the company’s acquisition by Royal Philips Electronics. He has also held senior finance positions at CAE Inc., Westcoast Energy Inc. and Creo Inc., and holds designations as both a chartered accountant and a chartered financial analyst.
Haytham Hodaly, Senior Vice President, Corporate Development
Mr. Hodaly is Silver Wheaton’s Senior Vice President, Corporate Development. He joined the company in 2012, bringing with him over 16 years of experience in the North American securities industry, most recently as Director and Mining Analyst, Global Mining Research, at RBC Capital Markets. In this role, he was responsible for providing, to a wide range of institutional clients around the globe, up-to-date and insightful research coverage of North American-listed precious metals companies. Prior to this, Mr. Hodaly held the position of Co-Director of Research and Senior Mining Analyst at Salman Partners Inc., in addition to holding the titles of Vice President and Director of the firm. During his tenure, he helped to establish Salman Partners Inc. as a leading independent, resource-focused and research-driven investment dealer. Mr. Hodaly is an engineer with a B.A.Sc. in Mining and Mineral Processing Engineering and a Masters of Engineering, specializing in Mineral Economics.

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