Wheaton Precious Metals Announces Closing of the GOLD and Palladium Streaming Agreement ON Stillwater
FOR IMMEDIATE RELEASE TSX: WPM
July 25, 2018 NYSE: WPM
WHEATON PRECIOUS METALS ANNOUNCES CLOSING OF
THE GOLD AND PALLADIUM STREAMING AGREEMENT ON STILLWATER
Vancouver, British Columbia – Wheaton Precious Metals™ Corp. (“Wheaton” or the
“Company”) is pleased to announce that the Company, through its wholly-owned subsidiary
Wheaton Precious Metals International Ltd . (“Wheaton International”) confirms that all
outstanding conditions required to complete the gold and palladium stream agreement with
Sibanye-Stillwater ("Sibanye-Stillwater") ( JSE: SGL; NYSE:SBGL) (the “Precious Metals
Stream”) have been fulfilled. Under the Precious Metals Stream, Wheaton International has
paid a total upfront cash payment of US$500 million to Sibanye-Stillwater in exchange for an
amount of gold equal to 100% of the gold production from the Stillwater assets over the
operating life of the assets and an amount of palladium equal to: 4.5% of palladium production
from the Stillwater assets until 375 thousand ounces (“Koz”) are delivered to Wheaton
International; thereafter, 2.25% of palladium production until 550 Koz are delivered; and
subsequently 1% of palladium production for the life of the Stillwater assets. In addition,
Wheaton International will make ongoing payments equal to a maximum of 18% of the spot
gold price and spot palladium price until such time as the balance of the upfront cash payment
is reduced to zero. Thereafter, ongoing payments will be 22% of the spot gold price and spot
palladium prices. The Precious Metals Stream is effective July 1, 2018.
Full details of the transaction can be found in Wheaton’s news release dated July 16, 2018.
For further information, please contact:
Patrick Drouin
Senior Vice President, Investor Relations
Wheaton Precious Metals Corp.
Tel: 1-844-288-9878
Email: [email protected]
Website: www.wheatonpm.com
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 “forward-looking information” within the meaning of applicable
Canadian securities legislation. Forward -looking statements, which are all statements other than statements of
historical fact, include, but are not limited to, statements with respect to:
• the timing of delivery of gold and palladium by Sibanye-Stillwater under the Precious Metals Stream;
• the receipt of Wheaton of gold and palladium production in respect of Stillwater;
• the demand, uses and supply of gold and palladium;
• the construction timeline, including completion, of the Blitz Project; and
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• the commencement and timing of delivery of gold and palladium by Sibanye-Stilwater under the Precious
Metals Stream.
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”, “projects”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, “potential”, 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 Wheaton to be
materially different from those expressed or implied by such forward-looking statements, including but not limited
to:
• that each party does not satisfy its obligations in accordance with the terms of the Precious Metals
Stream;
• Sibanye-Stillwater is unable to commence, or the timing of delivery of gold and palladium by Sibanye-
Stillwater is delayed or deferred under the Precious Metals Stream or Wheaton International is unable
to sell its gold or palladium production delivered under the Precious Metals Stream at acceptable
prices or at all;
• the decrease in demand for palladium, the decrease in uses for palladium or the discovery of new
supplies of palladium, any or all of which could result in a decrease to the price of palladium or a
decrease in the ability to sell palladium; and
• Sibanye-Stillwater does not meet the construction timeline, including anticipated completion of the Blitz
Project.
Forward-looking statements are based on assumptions management currently believes to be reasonable,
including but not limited to:
• Sibanye-Stillwater is able to commence and meet its timing for delivery of gold and palladium under the
Precious Metals Stream and Wheaton International is able to sell palladium production delivered under
the Precious Metals Stream at acceptable prices;
• the demand and uses for palladium will not significantly decrease and the supply of palladium will not
significantly increase;
• Sibanye-Stillwater is able to meet the construction timeline, including anticipated completion, of the Blitz
Project; and
• Sibanye-Stillwater is able to commence and meet its timing for delivery of gold and palladium under the
Precious Metals Stream and Wheaton is able to sell gold and palladium production delivered under the
Precious Metals Stream at acceptable prices.
Although Wheaton has attempted to identify important factors that could cause act ual results, level of activity,
performance or achievements to differ materially from those contained in forward -looking statements, there may
be other factors that cause results, level of activity, performance or achievements not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and
even if events or results described in the forward -looking statements are realized or substantially realized, there
can be no assurance that they wi ll have the expected consequences to, or effects on, Wheaton. Accordingly,
readers should not place undue reliance on forward -looking statements and are cautioned that actual outcomes
may vary. The forward -looking statements included herein are for the pur pose of providing investors with
information to assist them in understanding Wheaton’s expected financial and operational performance and may
not be appropriate for other purposes. Any forward -looking statement speaks only as of the date on which it is
made. Wheaton does not undertake to update any forward -looking statements that are included or incorporated
by reference herein, except in accordance with applicable securities laws.