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Wheaton Precious Metals' acquisition of gold stream from Lumina Gold's Cangrejos project for US$300M

Date Closed

May 26, 2023

Lead Office



300.00 Million USD

On May 26, 2023, Wheaton Precious Metals ("Wheaton") has entered into a definitive Precious Metal Purchase Agreement (the "Gold Stream") with Lumina Gold Corp. ("Lumina") in respect to its 100% owned Cangrejos gold-copper project located in El Oro Province, Ecuador (the "Project"). Wheaton will pay Lumina total upfront cash consideration of US$300 million. Under the Gold Stream, Wheaton will purchase 6.6% of the payable gold from the Project until 700,000 ounces of gold has been delivered, at which point the stream will be reduced to 4.4% of the payable gold production for the life of the mine.

Wheaton Precious Metals Corp. is one of the world's largest precious metals streaming companies, based in Vancouver, BC.

McCarthy Tétrault LLP advised Wheaton Precious Metals Corp. with a team led by Roger Taplin and Patrick Deutscher that included Jenna Clark and Geena Lee (Business).