1、2010 AnnuAl report new heights.ReachingcoRpoRate pRofileletteR fRom the chief executive officeRletteR fRom the pResidentgloBal assetspeRfoRmance highlightssilveR stReaming and the silveR maRketgRounded in ouR communitiesmanagements discussion and analysis and financial statements0406081011121417silv
2、eR wheaton 2010 annual RepoRt 1ReseRves and ResouRces Boosted By 7%peR shaRenew tRansactions Resulting in 80%five-yeaR pRoduction gRowthin 2010,We DelIVereD.industRy-leading pRoduction gRowth of 37%RecoRd financial Results:opeRating cash flows incReased By 93%net eaRnings incReased By 143%achieved o
3、ne of the industRys highest cash opeRating maRgins of 80%gRew maRket capitalization neaRly thReefold to$14 BillionoutpeRfoRmed.2attained an exceptionally stRong Balance sheetcaptuRed a significant shaRe of gloBal silveR industRy investmentsilveR wheaton 2010 annual RepoRt 3and Remain stRategically p
4、ositioned foR further groWth.4in 2004,the world was introduced to silver wheatons new silver streaming business model.in just six years,this innovative concept has transformed into a mainstream financing tool for the mining industry,and it is now utilized by some of the worlds largest and most succe
5、ssful gold and base metal companies.silver wheaton has entered into agreements where,in exchange for an upfront payment,it has the right to purchase,at a low fixed cost,all or a portion of the silver production from strategically selected high-quality mines located in politically stable regions.we c
6、urrently have silver streaming agreements covering 16 operating mines and three development stage projects around the world.coRpoRate pRofileFrom LeFt to right:Bettina Charpentier(Vice President,tax),Curt Bernardi(Vice President,Legal and Corporate Secretary),gary Brown(Chief Financial officer),Pete