Silver Wheaton Announces Goldcorp's Penasquito Mine Achieves Mechanical Completion
2009年7月15日 - 1:55PM
PRニュース・ワイアー (英語)
VANCOUVER, July 15 /PRNewswire-FirstCall/ -- - First Concentrate
Shipment Still Targeted for the Second Half of 2009 Silver Wheaton
Corp. ("Silver Wheaton") (TSX: SLW) (NYSE:SLW) is pleased to
announce that, as reported by Goldcorp Inc. ("Goldcorp") in a press
release dated July 13, 2009, construction of the first sulphide
process line (Line 1) at Goldcorp's world-class
gold-silver-lead-zinc Penasquito mine in Zacatecas, Mexico is now
complete and commissioning work is advancing on schedule.
Production and shipment of first concentrates are still targeted
for the second half of 2009. After a ramp-up period, Penasquito is
forecast to produce an average of approximately 30 million ounces
of silver annually over an initial 22 year mine life, of which
Silver Wheaton is to receive 25% or in excess of seven million
ounces of silver annually. The primary crusher and Line 1 grinding
circuit are complete with the Line 1 lead and zinc flotation
circuits essentially complete. The mining rate is averaging in
excess of 500,000 tonnes per day and a stockpile of 4.2 million
tonnes of sulphide has been established ahead of the primary
crusher. The coarse ore stockpile contains 230,000 tonnes of
crushed ore in preparation for initial milling. For video clips
showing the start-up and operation of the Line 1 mills as well as
the latest photographs from the site, please visit Goldcorp's
website at http://www.goldcorp.com/ and click on
Operations/Penasquito. Second Process Line Advancing on Schedule
Construction of the second sulphide process line (Line 2) is well
underway and progressing toward planned completion in the third
quarter of 2010. Many of the components are already on site and the
mill shells for both the SAG and ball mills are currently en-route
to site. Throughput from the two process lines is expected to reach
130,000 tonnes per day in the fourth quarter of 2010. To create
additional value, Goldcorp continues to advance several mine
optimization initiatives including an independent power plant and
in-pit crushing and conveying. "We are extremely pleased with
Goldcorp's progress at Penasquito," said Peter Barnes, President
and Chief Executive Officer of Silver Wheaton. "With the first line
complete and the second line advancing on schedule, Silver
Wheaton's stakeholders will begin to recognize significant value
from what is soon to be Mexico's largest open pit mine. Since our
silver stream acquisition in April of 2007, Penasquito has grown
considerably, and we anticipate the trend of increased silver
reserves and production growth to continue well into the future,
including further definition of the vast underground potential."
About Silver Wheaton Silver Wheaton is the largest silver streaming
company in the world. Forecast 2009 sales are 16 to 18 million
ounces of silver and 17,000 ounces of gold, for total sales of 17
to 19 million silver equivalent ounces, growing to approximately 30
million ounces of silver and 20,000 ounces of gold, for total sales
of approximately 31 million silver equivalent ounces, by 2013.
CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS The
information contained herein contains "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities
legislation. Forward-looking statements include, but are not
limited to, statements with respect to the future price of silver,
the estimation of mineral reserves and resources, the realization
of mineral reserve estimates, the timing and amount of estimated
future production, costs of production, reserve determination and
reserve conversion rates. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Silver Wheaton to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to:
fluctuations in the price of silver, the absence of control over
mining operations from which Silver Wheaton purchases silver and
risks related to these mining operations, including risks related
to fluctuations in the price of the primary commodities mined at
such operations, changes in laws and regulations including taxation
policies, actual results of mining and exploration activities,
changes in project parameters as plans continue to be refined, as
well as those factors discussed in the section entitled
"Description of the Business - Risk Factors" in Silver Wheaton's
Annual Information Form available on SEDAR at http://www.sedar.com/
and in Silver Wheaton's Form 40-F on file with the U.S. Securities
and Exchange Commission in Washington, D.C.. Forward-looking
statements are based on assumptions management believes to be
reasonable, including but not limited to the continued operation of
the mining operations from which Silver Wheaton purchases silver,
no material adverse change in the market price of commodities, that
the mining operations will operate in accordance with their public
statements and achieve their stated production outcomes, and such
other assumptions and factors as set out herein. Although Silver
Wheaton has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. Silver Wheaton
does not undertake to update any forward-looking statements that
are incorporated by reference herein, except in accordance with
applicable securities laws. For further information: Brad Kopp,
Director, Investor Relations, Silver Wheaton Corp., Tel:
+1-800-380-8687, Email: , Website: http://www.silverwheaton.com/
DATASOURCE: Silver Wheaton Corp. CONTACT: For further information:
Brad Kopp, Director, Investor Relations, Silver Wheaton Corp., Tel:
+1-800-380-8687, Email:
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