WPM - Wheaton Precious Metals acquires gold stream from Sabina's Goose Project

Wheaton Precious Metals (WPM +0.4%) said it entered into a precious metal purchase agreement with Sabina Gold & Silver (OTCQX:SGSVF) for the Goose Project in Nunavut, Canada. Wheaton agrees to pay Sabina a $125M upfront payment during construction of the project, and then will be entitled to receive 4.15% of payable gold production from the mine, dropping to 2.15% after delivery of 130K oz. of gold and dropping to 1.5% after delivery of 200K oz. of gold. Goose Project's attributable gold production is forecast to average 11.7K oz/year for the first five full years of production, and 10.7K oz/year for the first 10 full years; Sabina expects production to begin in Q1 2025. As a result of the deal, Wheaton raised its 10-year production guidance to 910K gold equiv. oz. from 900K; FY 2022 guidance remains at 700K-760K gold equiv. oz. Earlier, Wheaton reported FY 2021 gold equiv. oz. production

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Wheaton Precious Metals acquires gold stream from Sabina's Goose Project