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Barrick Gold Corp’s Deal With Silver Wheaton
By: Ian R. Campbell   Sunday, September 13, 2009 8:48 PM

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There have been a glut of articles on Barrick's +U.S$$4 billion equity raise announced early in the week.  This post references two of them.

First, in separate Press Releases on September 8 Barrick and Silver Wheaton announced a transaction pursuant to which Silver Wheaton acquired 25% of ‘life of mine' silver production from Barrick's Pascua-Lama project for U.S.$625 million.  You can find the Press Release on the Silver Wheaton Company Page on StockResearchPortal.com, along with a 2nd Press Release issued by Silver Wheaton that same day announcing a U.S.$250 million bought deal financing.  An article dated September 8 titled ‘Barrick Gold sells mines to Silver Wheaton' provides more detail on the transaction with Barrick.  For those of you interesting in researching Silver Wheaton its stock price increased by Sept 11's close by about 6.5% from its mid-point price on Sept 8.  At the same time its average daily trading volume was approximately 4.6 million shares in the 4 day period ended Sept 11, when its average daily volume for the 3 months ended September 11 has been (rounded) 1.6 million.  That said, the focus this past week has been far more on Barrick than on Silver Wheaton.


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