Silver Wheaton Corp

The World' Largest Silver Streaming Company

Established in 2004, Silver Wheaton has quickly positioned itself as the largest metals streaming company in the world. The company currently has fourteen silver purchase agreements and two precious metals agreements where, in exchange for an upfront payment, it has the right to purchase all or a portion of the silver production, at a low fixed cost, from high-quality mines located in politically stable regions. 

Based upon its current agreements, forecast 2011 attributable production is 27 to 28 million silver equivalent ounces, including 15,000 ounces of gold. By 2015, annual attributable production is anticipated to increase significantly to approximately 43 million silver equivalent ounces, including 35,000 ounces of gold. Beyond the initial upfront payment, no ongoing capital expenditures are required to generate this growth and Silver Wheaton does not hedge its silver production.
Silver Wheaton’s industry-leading growth profile is driven by a portfolio of world-class assets, including silver streams on Goldcorp’s Peñasquito mine in Mexico and Barrick’s Pascua-Lama project straddling the border of Chile and Argentina. The company’s unique business model creates significant shareholder value by providing considerable leverage to increases in the silver price while reducing the downside risks faced by traditional mining companies. Silver Wheaton has an experienced management team with a strong track record of success and is well positioned for further growth.

Joke Is on China as U.S.’s AAA Becomes Laughable: William Pesek

Suddenly that $3 trillion of currency reserves looks like a bad idea.
Make that very bad for China, as investors display an obvious preference for yen over dollars. That the IOUs of a debt-ridden, aging, politically adrift nation smarting from a huge earthquake and nuclear crisis seem safer than U.S. Treasuries says it all.
Many investors still see China’s monster currency stash as a strength. They reason that China is fortified against financial Armageddon. In reality, China is trapped and struggling to find exits that don’t exist. Sell dollars for Greek debt? Right. Swap into Italian commercial paper? Perhaps not. Find enough spare Swiss francs to diversify into? Good luck.
There’s always Japan. Two immediate problems come to mind. One, 10-year bonds yield a piddling 1.06 percent, about a third of the return on comparable U.S. bonds. Two, with about 95 percent of Japan’s debt outstanding tucked under tatami mats at home, China couldn’t get its hands on enough to make the exercise worthwhile. Bond markets elsewhere in Asia are either too small or too illiquid to help.
As 2011 unfolds, the Bretton Woods II architecture that Asia created after the 1997 crisis isn’t just crumbling -- it’s putting trillions of dollars of state wealth at risk. Romantic notions about returning to the original Bretton Woods world of the gold standard are unrealistic in a global system as leveraged and nontransparent as ours. So is saving its successor, which saw Asia establishing de facto pegs to the dollar and amassing mountains of reserves to protect them.

China’s Got Game from Bloomie