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Silver Wheaton Exercises Right To Acquire 12.5% of Life of Mine Silver Production From The Loma De La Plata Zone of The Navidad Project

By TechAgreements

Subject to finalizing the definitive terms of the agreement, Silver Wheaton will pay Pan American upfront cash payments totaling US$32.4 million to acquire an amount equal to 12.5% of all payable silver produced from the Loma de La Plata zone at Navidad for the lesser of US$4.00 or the prevailing market price per ounce of silver delivered. The upfront payments will be made on an installment basis.

Full post as published by TechAgreements on March 02, 2010 (boomark / email).