WHEATON PRECIOUS METALS CORP. 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. 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 to this Presentation and in particular:
Note 1 at the end of this 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, outcome of any audits by the CRA of Wheaton Precious Metal's tax filings, 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 Metal's 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, 2022 and the risks identified under "Risks and Uncertainties" in Wheaton's Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2022, both available on SEDAR+ and in Wheaton's Form 6-K filed March 9, 2023, 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 this Presentation contains our cautionary note regarding the presentation of mineral reserve and mineral resource estimates.
The full presentation is available on Wheaton's website (www.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.
2
WHO IS WHEATON PRECIOUS METALS?
WHEATON PRECIOUS METALS
A MODEL DESIGNED TO BENEFIT ALL STAKEHOLDERS
Our Vision
Our Mandate
To be the world's premier precious metals investment vehicle.
To deliver value through streaming to all our stakeholders:
.
To our Shareholders, | To our Partners, | To our Neighbours, |
by delivering low risk, high | by crystallizing value for | by promoting responsible |
quality, diversified exposure | precious metals yet to | mining practices and supporting |
and growth optionality to | be produced | the communities in which we |
precious metals | live and operate | |
Wheaton Precious Metals 4 |
WHEATON'S STREAMING ADVANTAGE
THE SUSTAINABLE OPTION FOR PRECIOUS METAL INVESTING
HIGH QUALITY ASSETS
Ninety-three percent of Wheaton's current production comes from high-margin mines operating in the lowest half of their cost curve
EXPLORATION & EXPANSION UPSIDE
High-margin assets receive the benefit from mine exploration and expansion activities typically at no additional cost
COMMODITY
PREDICTABLE COSTS
Contractually defined cost per ounce typically protects streamers from inflationary cost pressures
INNOVATIVE DIVIDEND
Dividend policy provides shareholders a minimum floor payment while giving direct exposure to Wheaton's growth and commodity prices11
LOW | WITH | HIGH |
RISKS | UPSIDE |
PRICE LEVERAGE
Investors get leverage to the underlying commodities as delivery payments per ounce are pre-determined and made upon delivery
OPTIONALITY
Development projects not included in guidance have the potential of adding >200,000 GEOs per year30
SUSTAINABLE FOUNDATION
Wheaton is committed to long-term sustainability
Wheaton Precious Metals | 5 |
WHEATON PRECIOUS METALS
THE WHEATON ADVANTAGE: ELEVATING THE STREAMING MODEL
High-Quality,Long-Life | Significant Organic Growth | |||
Of production | Estimated organic | |||
Of mine life | growth over next | |||
from assets in | 30 based on P&P | 40% | five years from | |
93% the lowest half of | Years | reserves | key assets including | |
the cost curve | Salobo & Constancia | |||
Strong Balance Sheet
Cash & cash | Available | ||
credit under | |||
$834M Septequivalents30, 2023at | |||
$2B fully undrawn | |||
revolving term loan | |||
Strong Corporate Development Momentum | |||
17 | ~$2.5B | since 202038 | |
Declared in total | |||
New deals | upfront payments |
Lean and Diverse Organizational Structure
Total number of employees globally, 41 responsible for stewarding capital
allocation and creating value for all stakeholders, with over 40% gender diversity at the board level
Sector-Leading Sustainability Ratings
#1 | By Sustainalytics for | AA | By MSCI ESG |
Precious Metals28 | Research27 |
Wheaton Precious Metals | 6 |
HIGH QUALITY ASSET BASE
DIVERSIFIED PORTFOLIO OF HIGH-QUALITY ASSETS
Partners:
Operating Mines (18)
Goose | |||
Kudz Ze Kayah | |||
Kutcho | Voisey's Bay | ||
Blackwater | Marathon | Sudbury | |
Stillwater | Coleman | ||
Copper Cliff | |||
East Boulder | Creighton | ||
Mineral Park | Garson | ||
Copper World | Peñasquito | Totten | |
San Dimas | Cozamin | Victor (Dev. project) | |
Los Filos | |||
Marmato | Toroparu | ||
Curipamba | Antamina | ||
Cangrejos | Salobo | ||
Cotabambas | Constancia |
Santo Domingo | |
Corporate Offices (2) | Pascua-Lama |
Fenix | |
Development Projects (17)
Zinkgruvan
Curraghinalt
Neves-Corvo
Platreef
Vale
Glencore
Newmont
Barrick
Sibanye-Stillwater
Lundin
B2Gold
Ivanhoe
First Majestic
Equinox
Artemis
Lumina
Hudbay
Capstone
Aris Mining
Adventus
Generation Mining
Kutcho Copper
Panoro
Rio2
Almina
Waterton
Dalradian
BMC Minerals
Well-diversified portfolio with low political risk
Wheaton Precious Metals | 7 |
HIGH QUALITY ASSET BASE
LOW-COST,LONG-LIFE PRODUCTION
2023 Forecast Production
by Cost Quartile1,3
4% 3%
39%54%
First
Second
Third
Fourth
Mine Life (years)
70
60
50
40
30
20
10
0
Mine Life of Operating Portfolio1,2,3
24
13
30
Proven & Probable | Measured & | Inferred |
Indicated |
93% of Wheaton's production comes from assets that fall in the lowest half of the cost curve, and the portfolio has over 30 years of mine life based on Proven and Probable Reserves
Wheaton Precious Metals | 8 |
HIGH QUALITY ASSET BASE
A CLEAR PATH TO LONG-TERM ORGANIC GROWTH1,29
(Koz)
1,000
900
2022 Actuals 2023 Guidance39
GEOs: | GEOs: |
617Koz | 600 - 660Koz |
10-year Average: 850,000 GEOs
Potential for additional growth through existing optionality and future accretive acquisitions
Gold Equivalent Production (GEO)
800
700
600
500
400
300
200
100
0
5-year Average: 810,000 GEOs
31.3 Koz | 22 - 25 Koz | Organic Growth Drivers | |
Other Metals Other Metals | |||
Brownfield: | Greenfield: | ||
286 | 320 - 350 | Salobo | Blackwater |
Constancia | Goose | ||
Koz Au | Koz Au | ||
Stillwater | Curipamba | ||
Antamina | Marathon | ||
Voisey's Bay | Santo Domingo | ||
Marmato | Copper World |
24.0 20 - 22
Moz Ag | Moz Ag |
2022A | 2023E | 2027 | 2032 | |||
Sector leading growth over the next 5 years of over 40%,
with additional optionality of over 200k GEOs not in the current guidance
Wheaton Precious Metals | 9 |
CASH OPERATING COSTS
PREDICTABLE COSTS AND HIGH MARGINS
Total Cash Cost and Cash Operating Margins per Ounce1,5,6,7
Gold Price (US$/oz)
$2,500 $2,000 $1,500 $1,000 $500 $0
75%
$300
81%
$300
79%
$362
72%
$386
69%
$386
66%
$393
69%
$391
69%
$395
68%
$409
70%
$421
76%
$426
74%
$462
74%
$472
$440
Silver Price (US$/oz)
$50 $40 $30 $20 $10
$0
2010 2011 2012
88% | 87% | |
81% | ||
$3.97 | $3.99 | $4.06 |
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023- |
2027E |
83% | 78% | 73% | 74% | 74% | 70% | 69% | 75% | 77% | 75% | |
$4.12 | $4.14 | $4.17 | $4.42 | $4.49 | $4.67 | $5.02 | $5.28 | $5.66 | $5.42 | $4.99 |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023- | |||||
2027E | ||||||||||||||||||
Total Cash Cost/oz | Cash Operating Margins | |||||||||||||||||
Wheaton Precious Metals | 10 |
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Wheaton Precious Metals Corp. published this content on 04 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 December 2023 00:33:16 UTC.
