1、4 Corporate profile6 letter from the president&Ceo8 Global assets9 Cornerstone Growth assets10 performanCe hiGhliGhts11 silver streaminG12 the silver market13 Corporate soCial responsibility15 manaGements disCussion and analysis and finanCial statementsSILVER WHEATON 2011 ANNUAL REPORT 1Silver Wheat
2、on is the worlds leading silver streaming company.We have more silver reserves than any other silver company and one of the highest market capitalizations in the industry.Our exceptional production growth profile generates robust cash flows,used to fund value-enhancing acquisitions and provide susta
3、inable dividends to shareholders.The LeaderOur vision is to be the worlds premier silver company;to continue delivering superior returns to investors through our diversified portfolio of assets;and to remain a compelling source of funding for mining companies.2The GoaLSilver Wheaton is uniquely posi
4、tioned to capitalize on new silver stream acquisition opportunities.The mining business is now more capital intensive than ever,and companies are increasingly focused on silver streaming as an alternative source of funding.With our vision,expertise and strong free cash flow,Silver Wheaton is strateg
5、ically positioned to provide that funding and to further expand our portfolio of high-quality,income-generating assets.The opporTuniTy SILVER WHEATON 2011 ANNUAL REPORT 344From LeFt to right:Brad Kopp:senior vice president,investor relations randy Smallwood:president&Chief executive officer gary Bro
6、wn:senior vice president&Chief financial officer Curt Bernardi:senior vice president,legal&Corporate secretary haytham hodaly:senior vice president,Corporate developmentSilver Wheaton,in a few short years,has become one of the worlds leading silver companies.The company is led by a highly skilled an