CSFFF - Wheaton acquires gold stream from Capstone's Santo Domingo project

Wheaton Precious Metals (WPM) and Capstone Mining (CSFFF) reach a gold streaming agreement for the Santo Domingo gold project in Chile, in which Wheaton will purchase 100% of payable gold production until 285K oz. have been delivered, then dropping to 67% of payable gold production for the life of the mine.Wheaton says it will pay Capstone an upfront deposit of $290M, $30M of which is payable upon closing and the rest payable during construction of the Santo Domingo project; Wheaton also will make ongoing payments for gold ounces delivered equal to 18% of the spot gold price.Santo Domingo is forecast as a first quartile copper mine with an 18-year mine life, with attributable gold production forecast to average 35K-40K oz./year for the first five full years of production and 25K-30K oz./year for the first 10 full years.Capstone expects major construction to begin late this year with the first full year

For further details see:

Wheaton acquires gold stream from Capstone's Santo Domingo project