Another SLW dealAnother SLW deal that, on first reading, looks like it could be in SST's scope, and at $3.90/oz silver. I found the NR on Marketwire.
So why didn't SST do the deal?
Did they see package as overvalued?
Was the 2-part deal (the second will be a deal on another of Aurcana's mines) too big for SST?
Or did SLW simply scoop us?
When will our next deal come through?
"Silver Wheaton Acquires 50% of Life of Mine Silver Production From Aurcana's La Negra Mine in Mexico
Silver Wheaton will pay Aurcana an upfront cash payment of US$25 million in order to acquire 50% of all silver produced from the La Negra mine for the lesser of US$3.90 (subject to a one percent annual adjustment starting in year four after production commences) or the prevailing market price per ounce of silver. Payment for the transaction will be drawn from existing credit facilities. The transaction is expected to close by June 20, 2008.
As part of this agreement, Aurcana has also agreed to complete a separate life of mine silver stream agreement on its soon to be acquired Shafter Silver Mine located in Texas, USA. Terms of the future agreement are expected to be announced in the third quarter of 2008."
HC