Wheaton Precious Metals Corporation (WPM) 2006年年度报告「NYSE」.pdf

1、ANNUAL REPORT 2006SiLvER WhEATON iS ThE LARGEST miNiNG cOmPANy WiTh 100%Of iTS REvENUE fROm ThE SALE Of SiLvERcorporate profileSilver Wheaton is the largest mining company with 100%of its revenue from the sale of silver.Having silver purchase contracts with three separate mines,the Company expects t

2、o sell approximately 15 million ounces of silver in 2007,growing to 20 million ounces by 2009.The Company purchases all of the silver production from the Goldcorp mines in Mexico and the Zinkgruvan mine in Sweden,together with a portion of the silver production from Glencores Yauliyacu mine in Peru.

3、Silver Wheatons unique and simple business model is designed to create long-term shareholder value,providing for strong upside potential with downside protection.Silver Wheaton is unhedged and well positioned for further growth.2006 HigHligHts Net earnings of$85.2 million($0.40 per share)from the sa

4、le of 13.5 million ounces of silver,compared to$25.3 million($0.15 per share)from the sale of 9.7 million ounces of silver in 2005.Operating cash flows of$104.7 million(2005-$30.0 million).Silver Wheaton amended its silver purchase contract with Goldcorp,eliminating any capital expenditure contribut

5、ions previously required to be paid by Silver Wheaton.Total consideration paid by Silver Wheaton was$136 million.The Company entered into an agreement with Glencore International AG,to purchase up to 4.75 million ounces of silver per year for a period of 20 years,based on the production from Glencor

6、es Yauliyacu mining operations in Peru.Total consideration paid was$285 million.In addition,a cash payment of$3.90 per ounce of silver delivered under the contract is due,subject to an inflationary adjustment commencing in 2009.The Company completed a$175 million(Cdn$200 million)public offering of 1