Did you know?
You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)
Silver Wheaton and Augusta Resource Sign New Letter of Intent
posted on
Nov 01, 2008 09:21AM
October 31, 2008
Silver Wheaton and Augusta Resource Sign New Letter of Intent
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2008) - Silver Wheaton Corp. (TSX:SLW)(NYSE:SLW) announced today that it has signed a letter of intent with Augusta Resource Corporation (TSX:AZC)(NYSE-A:AZC) dated October 31, 2008 regarding a new silver purchase agreement. The new letter supercedes the December 19, 2007 letter of intent between Silver Wheaton and Augusta. An update of Augusta's August 2007 bankable feasibility study, reflecting an increased mineral resource, is expected to be completed by the end of December 2008, following which Silver Wheaton and Augusta intend to discuss an efficient structure for a transaction between them. Both companies consider that it is in their best interests to negotiate and complete the new transaction based on a percentage of silver to be determined once the updated study has been completed.
