The Phaserl


Silver streams, mine closures and finding the floor – Smallwood

Mineweb’s Kip Keen speaks with Silver Wheaton President and CEO, Randy Smallwood about recent mine closures, value gaps and market strategy during the downturn.

by Kip Keen,

The severe drop in the price of precious metals has already taken its first victims, with a growing number of higher cost producers, juniors ones especially, announcing mine closures. Silver Wheaton, a top silver streaming and royalty company, is not immune. One of its assets is a streaming agreement with a Yukon-silver miner Alexco Resources which recently announced it planned to shutter its Bellekeno mine for the winter, and perhaps for longer if silver prices don’t improve. Mineweb’s Kip Keen started there in an interview with Silver Wheaton President and CEO Randy Smallwood that also delves into his broader picture for the precious metals market.

Kip Keen: The first thing I want to ask you about is Alexco Resources and their plan to shut down for the winter, and perhaps beyond, unless there is a jump in the price of silver. Does your silver streaming agreement with Alexco, one of your smallest streaming assets, address such a circumstance?

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