#Canada #Vancouver #Wheaton Precious Metals #Hemlo Mine #Carcetti Capital

Wheaton Precious Metals Finalizes Gold Stream at Hemlo Mine

In a significant move for the precious metals sector, Wheaton Precious Metals Corp. has announced the successful completion of its previously disclosed Gold Stream agreement with Carcetti Capital Corporation. This pivotal association facilitates Carcetti's acquisition of the Hemlo Mine from Barrick Mining Corporation, officially finished on November 26, 2025.

Wheaton's Gold Stream initiative is a cornerstone of this acquisition, allowing for immediate production and cash flow benefits to be reaped. The agreement forms part of Carcetti’s comprehensive financing package for the acquisition, which entails a total investment of $300 million from Wheaton in Gold Streams, alongside additional equity and bank debt, totaling over $500 million in fundraising.

Details of the Financing Package

The acquisition financing encompasses:

• - A $300 million Gold Stream from Wheaton, comprising key upfront cash consideration.
• - Concurrent equity financing which raised around $542 million, in which Wheaton participated with an approximately $30 million investment.
• - Additional financing up to $250 million through banking channels.

The Gold Stream agreement enables Wheaton to acquire 10.13% of payable gold produced until a benchmark of 135,750 ounces is reached. Post this threshold, Wheaton will continue to collect a percentage of 6.75% and subsequently 4.50% for the remaining lifespan of the mine. This unique structure allows adjustments depending on delivery schedules, thus providing a dynamic approach to potential production ramp-ups and setbacks.

Production Outlook and Strategic Growth

Wheaton expects the Hemlo Mine to produce an average of approximately 15,000 ounces of gold per annum for the first decade of operation, further translating to over 13,000 ounces for the mine's entire lifespan, which is anticipated to extend over 14 years. Given the mine's rich history, producing nearly 25 million ounces over its operational life, significant exploration potentials lie within its remaining territory.

The financing arrangement empowers Wheaton with a right of first refusal regarding future precious metal streams and secures critical guarantees from HMC, the newly adopted name for Carcetti as part of their rebranding strategy towards enhancing recognition in the mining sector.

Prospects for Sustainable Mining

Wheaton's commitment to environmental, social, and governance (ESG) practices has been reinforced within this agreement, with HMC expected to adhere to global industry standards related to tailings management alongside Wheaton’s own codes of conduct. Given the mounting emphasis on ESG in mining operations, such commitments highlight Wheaton’s strategy to operate sustainably while delivering financial returns to its stakeholders.

Wheaton’s robust cash position, reported at approximately $1.2 billion by the end of September 2025, provides ample liquidity to sustain its growth strategy, supporting further mineral acquisition pursuits in the competitive landscape of precious metals.

Conclusion

The completion of the Gold Stream with Hemlo represents a strategic expansion for Wheaton Precious Metals, positioning the company favorably in a high-margin sector while facilitating strong governance practices. As the market for precious metals continues to evolve, Wheaton remains dedicated to optimizing its asset portfolio, promising stakeholders not only financial performance but also sustainable and responsible mining operations. This acquisition not only cements Wheaton's reputation as a leader in gold streaming but also underscores its commitment to future growth and community engagement within the mining realm.