WHEATON PRECIOUS METALS CORP. The Premier Precious Metals Investment
WHEATONPM.COM | May 2024 | TSX | NYSE | LSE: WPM |
Cautionary Statements
Cautionary Note Regarding Forward-Looking Statements
The information contained in this presentation 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 Canadian securities legislation, in particular, but not limited to, the future price of commodities and the estimation of future production. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Readers are strongly cautioned to carefully review the cautionary notes and in particular:
Note 1 at the end of the Corporate Presentation contains our cautionary note regarding forward-looking statements and sets out the material assumptions and risk factors that could cause actual results to differ, including, but not limited to, fluctuations in the price of commodities, estimation of production, estimation of mineral reserves and resources, the commencement, timing and achievement of construction, expansion or improvement projects by Wheaton Precious Metal's counterparties at Mining Operations, resolution of legal and tax matters (including CRA audits involving Wheaton Precious Metals), accuracy of assessment of application of CRA settlement and impact of 15% global minimum tax, the absence of control over mining operations from which Wheaton Precious Metal purchases precious metals or cobalt, and risks related to such mining operations and continued operation of Wheaton Precious Metals' Counterparties. Readers should also consider the risks identified under "Description of the Business - Risk Factors" in Wheaton's Annual Information Form for the year ended December 31, 2023 and the risks identified under "Risks and Uncertainties" in Wheaton's Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2023, both available on SEDAR+ and in Wheaton's Form 6-K filed March 14, 2024, all available on EDGAR. Where applicable, readers should also consider any updates to such "Risks and Uncertainties" that may be provided by Wheaton in any subsequently filed quarterly MD&A.
Note 2 at the end of the Corporate Presentation contains our cautionary note regarding the presentation of mineral reserve and mineral resource estimates.
The full presentation is available on Wheaton's website (wheatonpm.com). All values referenced on the presentation are in US dollars unless otherwise noted. In accordance with Wheaton Precious Metals Corp.'s ("Wheaton Precious Metals", "Wheaton" or the "Company") MD&A and financial statements, reference to the Company includes the Company's wholly owned subsidiaries.
WHEATON PRECIOUS METALS | 2 |
Who is Wheaton Precious Metals?
A Model Designed to Deliver Value to All Stakeholders
Our Vision: To be the world's premier precious metals investment vehicle
Our Mandate: To deliver value through streaming to all our stakeholders
Shareholders
We deliver low risk, high quality, diversified exposure and growth optionality to investors
Partners
By crystallizing value for precious metals yet to be produced, we work with our partners to unlock and create value
Neighbours
We promote responsible mining practices and support the communities in which we live and operate
4
Wheaton's Streaming Advantage
The Sustainable Option for Precious Metal Investing
High-Quality Assets
93% of Wheaton's current production comes from high margin mines operating in the lowest half of their respective cost curves
Predictable Costs
Contractually defined cost per ounce protects streamers from inflationary cost pressures
Progressive Dividend
Progressive dividend policy marked by an increase to our 2024 annual dividend10
Commodity Price Leverage
Investors get leverage to the underlying commodities as delivery payments per ounce are pre-determined
Exploration & Expansion Upside
High-margin assets receive the benefit from exploration success and expansion upside typically at no additional cost
Optionality
Development projects not included in guidance have the potential of adding ~200,000 GEOs per year29
Cost predictability translates into direct leverage to potential increases in precious metal prices,
providing investors with some of the highest sustainable margins in the industry
WHEATON PRECIOUS METALS | 5 |
The Wheaton Advantage
Elevating The Streaming Model
High-Quality,Long-Life
93%
28
YEARS
Of production from assets in the lowest half of the cost curve
Of mine life based on P&P reserves
Strong Corporate Development Momentum
8 | New investments into |
assets in 2023 |
>$1 | committed in total upfront |
payments in 202338 | |
BILLION |
Strong Balance Sheet
$306 | Cash & cash equivalents |
MILLION | at March 31, 2024 |
$2 | Available credit under fully |
undrawn revolving term | |
BILLION | loan |
Strong Organic Growth
Estimated organic growth over next
five years from
~40% key assets including Salobo, Antamina & multiple new Development Projects
Lean and Diverse Organizational Structure
42
40%
Total number of employees globally
Over 40% gender diversity at the
board level
Sector-Leading Sustainability Ratings
Top | By Sustainalytics for |
Rated | Precious Metals27 |
AA | By MSCI ESG |
Research26 |
WHEATON PRECIOUS METALS | 6 |
Wheaton's
Global Portfolio
6
Vancouver Office
5
Cornerstone Assets
- Salobo, Brazil
- Antamina, Peru
- Peñasquito, Mexico
- Constancia, Peru
- Voisey's Bay, Canada
- Blackwater, Canada
- Platreef, South Africa
3
21
4
7
18 Operating Mines
27 Development Projects & Other
Well-diversified portfolio with low political risk
7
Our Partners
Glencore | Generation Mining Rio2 | ||
Capstone Copper Ivanhoe Mines | |||
Hudbay Aris Mining | Dalradian Gold | Panoro Minerals | |
B2Gold | Vale | First Majestic | BMC Minerals |
Barrick Waterton Copper Equinox Gold Adventus | |||
Sibanye-Stillwater | Newmont Almina Integra | ||
Pan American Silver Artemis Gold | Kutcho Copper Eldorado |
Lundin Mining Lumina Gold
Streaming capital is utilized by a wide range of companies in the mining industry
WHEATON PRECIOUS METALS | 8 |
High-Quality Asset Base
Low-cost,Long-life Production
2024 Forecast Production
by Cost Quartile1,3
4% 3%
23%
First | ||
70% | Second | |
Third | ||
Fourth | ||
Mine Life (years)
70
60
50
40
30
20
10
0
Mine Life of Operating Portfolio1,2,8
24
12
28
Proven & Probable | Measured & | Inferred |
Indicated |
93% of Wheaton's production comes from assets that fall in the lowest half of their respective cost curves,
and the portfolio has 28 years of Proven and Probable reserve mine life
WHEATON PRECIOUS METALS | 9 |
High-Quality Asset Base
Path to Long-term Organic Growth1,29
Gold Equivalent Production (GEO) (Koz)4
1,000
900
800
700
600
500
400
300
200
100
0
2023
Actuals:
GEOs:
584 Koz
12.2 Koz
Other Metals
375
Koz Au
17.2
Moz Ag
2024
Guidance:
GEOs:
550-620 Koz
12.0-15.0 Koz Other Metals
325-370
Koz Au
18.5-20.5
Moz Ag
2029 - 2033 Average:
850,000 GEOs
Growing to >800,000
GEOs by 2028
Anticipated Organic Growth Drivers Include:
Brownfield: | Greenfield: |
Salobo | Blackwater |
Antamina | Platreef |
Voisey's Bay | Goose |
Marmato | Mineral Park |
Stillwater | Fenix |
Curipamba | |
Santo Domingo | |
Marathon | |
Copper World |
2023A | 2024E | 25E | 26E | 27E | 28E | 29E | 30E | 31E | 32E | 33E |
Anticipated Sector leading production growth over the next 5 years of ~40%, with stable production of over 850k GEOs per year expected in the long-term
WHEATON PRECIOUS METALS | 10 |
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Disclaimer
Wheaton Precious Metals Corp. published this content on 09 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 May 2024 22:14:41 UTC.
