Wheaton Precious Metals / WPM (TSX, NYSE)

Rio2 Announces Financing Package to Fund the Fenix Gold Project, by @GlobeNewswire

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) today announces that it has arranged a mine construction financing package expected to total approximately US$150 million for construction and general working capital of the Company’s 100%-owned Fenix Gold Project in Chile (“Fenix Gold” or the “Project”).

This funding package marks a significant de-risking milestone for Fenix Gold, and with all key sectorial permits for construction now in hand, Rio2 is positioned to fully execute the development, ramp-up and operation of the Fenix Gold mine.

The total financing package is comprised of the following:

• US$120 million financing package (the “Wheaton Financing”) with Wheaton Precious Metals International Ltd. (“Wheaton”);
• Overnight marketed public offering of common shares of the Company (“Common Shares”) to raise gross proceeds of up to C$40 million led by Raymond James Ltd. and Eight Capital (the “Public Offering”); and
• Non-brokered private placement of Common Shares to Wheaton for proceeds of C$5 million (the “Wheaton Private Placement”).

Alex Black, Executive Chairman of Rio2, commented: “This financing package is the result of a competitive and comprehensive process undertaken by the Company, with the assistance of Endeavour Financial as its advisor, to secure the optimal financing solution for the construction of our Fenix Gold mine. Wheaton’s expanding commitment to us validates the quality of our Fenix project, and their continued backing as a cornerstone financial partner, in addition to the support of our shareholders, has put Rio2 in a position of certainty to fund Fenix to production. We are highly excited to advance construction in a responsible manner, build the next gold mine in Chile, and generate material value for all Rio2 stakeholders.”

Randy Smallwood, President and CEO of Wheaton, commented: “We are excited to continue our support of Rio2 and Fenix with this project financing package. Fenix is a highly attractive, scalable gold project located in a well-known mining jurisdiction. Alex and his team have a strong track-record of success building and operating world-class mining operations in South America, and our continued investment in Rio2 and Fenix represents our confidence in the team and the Project”.

Wheaton Precious Metals Announces the Acquisition of a Gold Stream from Montage Gold's Koné Gold Project, by @newswire

VANCOUVER, BC, Oct. 23, 2024 /CNW/ - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that…

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Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that its wholly-owned subsidiary, Wheaton Precious Metals International Ltd. ("WPMI") has entered into a definitive Precious Metals Purchase Agreement (the "Gold Stream") with Montage Gold Corp. ("Montage") in respect to its Koné Gold Project located in Côte d'Ivoire (the "Project" or "Koné").

"With essential permits in place coupled with its impressive scale, we believe the Koné Project stands out as one of the premier gold assets in Africa, and we are excited to partner with Montage to deliver a full financing package for its development," said Randy Smallwood, President and CEO of Wheaton Precious Metals. "Supported by strong shareholder backing from the Lundin Group and Zijin Mining, the Koné Project is expected to significantly boost Wheaton's near-term annual gold production and further strengthen our peer-leading growth trajectory. We look forward to collaborating with Montage's outstanding team, whose extensive experience in West Africa has driven remarkable progress in de-risking the project and advancing it towards construction."

Wheaton Precious Metals Announces Third Quarter 2024 Results and Record Quarterly Operating Cash Flow, by @newswire

Designated News Release THIRD QUARTER FINANCIAL RESULTS

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Solid Financial Results and Strong Balance Sheet

• Third quarter of 2024: $308 million in revenue, $254 million in operating cash flow, $155 million in net earnings and $153 million in adjusted net earnings¹, and declared a quarterly dividend¹ of $0.155 per common share.
• Balance Sheet: cash balance of $694 million, no debt, and an undrawn $2 billion revolving credit facility as at September 30, 2024 after making total upfront cash payments of $30 million relative to mineral stream and royalty interests in the quarter.

High Quality Asset Base

• Streaming and royalty agreements on 18 operating mines and 28 development projects⁵, including the addition of the Koné project announced subsequent to the quarter.
• 93% of attributable production from assets in the lowest half of their respective cost curves^2,4.
• Attributable gold equivalent production³ ("GEOs") of 144,200 ounces in the third quarter of 2024 and 448,400 for the first nine months of 2024, with quarterly production consistent with the comparable period of the prior year, as lower production from Salobo and Constancia was largely offset by higher production from Peñasquito.
• Average annual forecast production guidance for 2024 of 550,000 to 620,000 GEOs³ maintained, with forecasted sector-leading growth to over 800,000 GEOs³ by 2028, and average annual forecast attributable production growing to over 850,000 GEOs³ in years 2029 to 2033.
• Further de-risked forecast growth profile as construction activities advanced at the Blackwater, Goose, Platreef, and Mineral Park projects, all of which are expected to be producing within the next 12 months.
• Subsequent to the quarter, the Company announced two accretive precious metals streaming agreements:
  • On October 23, 2024, the Company entered into a precious metals purchase agreement ("PMPA") with Montage Gold Corp. in respect to the Koné Gold Project located in Côte d'Ivoire.
  • On October 21, 2024, the Company amended the Fenix PMPA, increasing the amount of attributable gold it is entitled to under the contract.