Wheaton Precious Metals' Acquisition of a Gold Stream from Allied Gold's Kurmuk Project
Date Closed
December 19, 2024
Lead Office
Vancouver
Value
175.00 Million USD
On December 19, 2024, Wheaton Precious Metals Corp. ("Wheaton"), through its wholly-owned subsidiary, Wheaton Precious Metals International Ltd. ("WPMI") has completed a definitive Precious Metals Purchase Agreement (the "Gold Stream") with Allied Gold Corporation and its wholly owned subsidiary Allied Gold Services Inc. (together, "Allied"), in respect of the Kurmuk Project located in Ethiopia (the "Project" or "Kurmuk"). WPMI will pay Allied total upfront cash consideration of US$175 million in four equal installment payments during construction, subject to certain customary conditions.
Wheaton is one of the world's largest precious metals streaming companies, based in Vancouver, BC.
McCarthy Tétrault LLP advised Wheaton with a team led by Roger Taplin and Patrick Deutscher that included Chris Langdon, Jenna Clark, Jesslyn Chong, Katelyn Cooper (Business) and Genevieve Loxley (Financial Services).