Silver Wheaton Amends Silver Streaming Agreement With Barrick Gold - Quick Facts

(RTTNews) - Canadian silver producer Silver Wheaton Corp. (SLW, SLW.TO) said that through its wholly owned subsidiary Silver Wheaton (Caymans) Ltd., it has amended the silver streaming agreement with Barrick Gold Corp. (ABX, ABX.TO) regarding the Pascua-Lama project.

The amendment extends both the completion test date and the silver production entitlement from the Lagunas Norte, Pierina, and Veladero mines.

Previously the company was entitled to production, through the end of 2016, from three of Barrick's currently producing mines - the Lagunas Norte, Pierina, and Veladero mines - to the extent of any production shortfall at Pascua-Lama, until Barrick satisfies the completion test. As part of the newly revised agreement with Barrick, Silver Wheaton will now be entitled to the production from Barrick's other mines until March 31, 2018.

Silver Wheaton has also agreed with Nyrstar Mining Ltd. and certain of its affiliates to the cancellation of the Campo Morado silver stream in exchange for cash consideration of $25 million.