Wheaton Precious Metals may draw on revolver for acquisition from Orion

Chicago, Nov. 15 – Wheaton Precious Metals Corp. will likely use cash on hand and/or borrowings under an existing revolver to fund the acquisition of existing streams from Orion Mine Finance and a new precious metals purchase agreement in respect of a god project, according to a press release.

Wheaton will pay a total upfront cash consideration of $530 million.

There is an additional $5 million contingency payment in respect of the Kudz Ze Kayah stream.

An additional $55 million will be paid during construction of the Curraghinalt project.

As of Sept. 30, the company had $834 million of cash on hand. When combined with an existing $2 billion revolver, the company is well positioned to finance the acquisition.

Wheaton Precious Metals is a Vancouver, B.C.-based precious metals streaming company.

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