WHEATON RIVER MINERALS WKN 889191 - auf dem Weg in eine neue Dimension !! - 500 Beiträge pro Seite

[Goldguru]

Wheaton River Announces Acquisition; Gold Production More Than Doubles


VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 15,
2003--Wheaton River Minerals Ltd. (AMEX:WHT)(TSX:WRM) announced today
that it has entered into a letter of intent to acquire Rio Tinto`s 25%
interest in the low cost Bajo de la Alumbrera gold-copper mine in
Argentina and 100% interest in the Peak gold mine in Australia for
US$210 million. Between 2003 and 2005, the mines to be acquired are
estimated to produce an average of 269,500 ounces of gold annually at
a cash cost of US$74 per ounce.
The acquisition will transform Vancouver-based Wheaton River into
the 8th largest Canadian gold producer with estimated production in
2003 of 458,500 gold equivalent ounces (371,000 gold ounces and 6.4
million silver ounces). As a result of the acquisition:

-- Wheaton River will significantly reduce its estimated cash
cost per gold equivalent ounce from an estimated US$187 in
2002 to US$124 in 2003 (including by-product copper credits).

-- Proven and probable reserves will quadruple from 0.8 million
gold equivalent ounces as at December 31, 2001, to over 3.3
million gold equivalent ounces.

-- Free cash flow will increase substantially due to the mature
nature of the mining assets being acquired.

The Bajo de la Alumbrera gold-copper mine in Argentina has been
developed into a world class mine by operator MIM Holdings Limited of
Australia. Bajo de la Alumbrera commenced commercial production in
February 1998 and has a remaining mine life of at least 10 years.
Production for the year ended June 30, 2002, totalled 759,360 ounces
of gold at a cash cost of negative US$18 per gold ounce (copper
treated as a by-product) and 199,550 tonnes of copper. Over the next
five years, the operation is expected to average 540,000 ounces of
gold and approximately 180,000 tonnes of copper per year, of which
Wheaton River`s share would average 135,000 ounces of gold and 45,000
tonnes of copper per year. As of June 30, 2002, Alumbrera had proven
and probable mineral reserves of 7.1 million ounces of gold and 1.9
million tonnes of copper.
The Peak gold mine in Australia is comprised of several
underground mines, a small open pit mine and a gold and copper
concentrator. Production in 2001 totalled 100,800 ounces of gold at a
cash cost of US$189 per ounce. In the nine months ended September 30,
2002, production totalled 77,100 ounces of gold at a cash cost of
US$203 per ounce. Production is expected to average 110,000 ounces of
gold per year at a cash cost of US$189 per ounce until the end of the
current mine life in 2007. Wheaton River believes that further
exploration at Peak may extend the mine life. As at December 31, 2001,
Peak had proven and probable mineral reserves of 731,000 ounces of
gold.
"This acquisition fulfils our mandate of transforming Wheaton
River into a premier mid-tier gold producer," commented Ian Telfer,
Chairman and CEO of Wheaton River. "We have increased reserves,
increased production and dramatically reduced our production costs."
"Bajo de la Alumbrera and Peak are high quality mature mines
operated by experienced management teams. We look forward to working
with the Peak operating team in Australia," added Mr. Telfer.
One of the terms of the transaction will permit Wheaton River to
defer the payment of up to US$70 million of the US$210 million total
purchase price for up to 24 months. The deferred consideration will
not require any gold hedging, and Wheaton River will remain an
unhedged producer. Based on current metal prices, Wheaton River
believes that cash flow from its existing Mexican operations and its
newly acquired assets will enable Wheaton River to be in a positive
net cash position by December 31, 2004.
The acquisition is subject to Wheaton River and Rio Tinto entering
into a definitive agreement of purchase and sale. Closing will be
subject to a number of conditions, including obtaining all requisite
regulatory and third party approvals and consents, waiver of
pre-emptive rights, satisfaction of customary closing conditions and
Wheaton River raising the required financing. Wheaton River expects
the transaction to close by the end of February 2003.
BMO Nesbitt Burns, Inc., and Griffiths McBurney & Partners acted
as financial advisors to Wheaton River in connection with this
acquisition.
Wheaton River will hold a conference call on January 15, 2003, at
5:00 p.m. EST and non-U.S. residents may participate in the conference
call by dialling 1-877-461-2814 in Canada and 416-695-9753 elsewhere.
Wheaton River engaged Micon International Limited to prepare a
technical report on Alumbrera and Peak in accordance with National
Instrument 43-101 of the Canadian Securities Administrators. The
information herein on mineral reserves and mineral resources and
future production estimates is extracted from the Micon report.

Alumbrera Mine

Alumbrera is a large-scale open pit gold-copper mine located in
northwest Argentina at a moderate elevation of 2,600 metres above sea
level. Alumbrera processes ore through conventional crushing,
grinding, sulphide flotation and gravity gold circuits. Originally
designed for 80,000 tonnes per day, the mine produced approximately
600,000 ounces of gold and approximately 160,000 tonnes of copper in
2000 and approximately 580,000 ounces of gold and 170,000 tonnes of
copper in 2001. Expansion programs completed in 2001 increased
throughput to 100,000 tonnes per day and increased annual production
to approximately 760,000 ounces of gold and 200,000 tonnes of copper
in 2002. Alumbrera produces a clean concentrate, which is in demand by
smelters worldwide.
The following table sets forth the Ore Reserves (of which Wheaton
River will own a 25% interest) for the Alumbrera project as at June
30, 2002.

-0-
*T
Proved and Probable Ore Reserves(1)(2)

Material Category Tonnes Gold Grade Copper Contained Contained
(million) (grams Grade Gold Copper
per (%) (million (million
tonne) ounces) tonnes)
----------------------------------------------------------------------
In Situ(3) Proved 224.3 0.67 0.58 4.83 1.301
----------------------------------------------------------------------
Probable 41.7 0.64 0.55 0.86 0.229
----------------------------------------------------------------------
Total 266.0 0.67 0.58 5.69 1.530
----------------------------------------------------------------------

----------------------------------------------------------------------
Stockpiles(4) Proved 104.4 0.42 0.36 1.41 0.376
----------------------------------------------------------------------
Probable - - - - -
----------------------------------------------------------------------
Total 104.4 0.42 0.36 1.41 0.376
----------------------------------------------------------------------

----------------------------------------------------------------------
Total Proved 328.7 0.59 0.51 6.24 1.677
----------------------------------------------------------------------
Probable 41.7 0.64 0.55 0.86 0.229
----------------------------------------------------------------------
Total 370.4 0.60 0.51 7.1 1.905
----------------------------------------------------------------------
*T

(1) The Ore Reserves for the Alumbrera mine set out in the table
above have been prepared under the overall direction of David
Keough, Chief Geologist at Minera Alumbrera Limited, and
reviewed by Harry Burgess, P.Eng., mining engineer, and Terry
Hennessey, P.Geo., geologist, at Micon. The Ore Reserves are
classified as Proved and Probable, and are based on the
current (1999) version of the Australasian Code for Reporting
of Mineral Resources and Ore Reserves (the "JORC Code"), the
Australian and RTP world wide standards. It is Micon`s opinion
that the Proved and Probable Ore Reserves prepared by Minera
Alumbrera Limited staff are the equivalent of proven and
probable mineral reserves under the CIM Standards on Mineral
Resources and Reserves, Definitions and Guidelines adopted by
CIM Council on August 20, 2000.

(2) The Ore Reserves were estimated by fitting a pit shell to the
mineral resource block model and the surrounding waste. Metal
prices of $0.88 per pound copper and $298 per ounce gold were
used in the pit design.

(3) Using a cut-off grade of 0.28% payable equivalent copper at
$280 per ounce gold and $0.95 per pound copper.

(4) Historically, the mine has operated using various cut-off
criteria.

Peak Gold Mine

The Peak gold mine properties are in the vicinity of Cobar, New
South Wales, Australia, approximately 600 kilometres west of Sydney.
The leases and licences cover approximately 350 square kilometres
surrounding the Peak gold mine.
Mine production operations are located in two distinct underground
zones and a small open pit operation. The two underground zones are
known as New Occidental and Perseverance, while the open pit is the
near surface remnants of the now closed underground New Cobar
operation. Production operations have been underway at New Occidental
since December 2001, while development reached the Perseverance zone
in the fall of 2002. The facilities have produced and treated
approximately 600,000 tonnes per year of gold and copper bearing ore.
The New Cobar open pit is scheduled to be completed in 2003, when
mined ore will remain stockpiled for subsequent treatment. The
original flexible process design required by the variability of the
Peak ore zones, consisting of semi-autogenous milling, gravity,
sulphide flotation, cyanide leaching, carbon in leach adsorption,
electrowinning and bullion production, has facilitated the
introduction of new ore sources with different mineralogical and
metallurgical characteristics. The main mill modifications for
processing New Cobar and New Occidental ores were completed in August
2001. Several exploration targets are being evaluated in the mine
area.
The following table sets forth the Ore Reserves for the Peak gold
mine as at December 31, 2001.

-0-
*T

Proved and Probable Ore Reserves(1)(2)(3)(4)

----------------------------------------------------------------
Category Tonnes Gold Grade Copper Contained Contained
(million) (grams per Grade Gold Copper
tonne) (%) (ounces) (tonnes)
----------------------------------------------------------------
Proved 0.74 4.6 0.1 109,400 740
----------------------------------------------------------------
Probable 2.51 7.7 0.2 621,400 5,020
----------------------------------------------------------------
Total 3.25 7.0 0.2 730,800 5,760
----------------------------------------------------------------
*T

(1) The Ore Reserves for the Peak gold mine properties set out in
the table above have been prepared by Peak Gold Mines Pty Ltd.
and reviewed by Harry Burgess, P.Eng., mining engineer, and
Terry Hennessey, P.Geo., geologist, at Micon. The Ore Reserves
are classified as Proved and Probable, and are based on the
JORC Code. It is Micon`s opinion that the Proved and Probable
Ore Reserves prepared by Peak Gold Mines Pty. staff are the
equivalent of proven and probable mineral reserves under the
same CIM standards.

(2) The Ore Reserves were estimated using either a 2 dimensional
kriging method or a 3 dimensional kriging method, constrained
by geological and grade domains.

(3) A dilution factor of 14%, at 0 grams per tonne, and a mining
recovery of 95%, was applied, based on dilution experience
with Peak gold mine stopes.

(4) The following table sets forth the recovery and dilution
factors applied to the Mineral Resource estimates by property:

-0-
*T

-----------------------------------------------------------------
Deposit Recovery (%) Dilution (%) Cut-Off Grade
(grams per tonne gold)
-----------------------------------------------------------------
New Occidental 95 14 4
-----------------------------------------------------------------
Peak Mine 95 14 4
-----------------------------------------------------------------
Perseverance 95 21 4
-----------------------------------------------------------------
New Cobar 98 5 1.24 - 1.51 dependent
on ore type
-----------------------------------------------------------------
*T

The following table sets forth the estimated Mineral Resources for
the Peak gold mine as at December 31, 2001.

-0-
*T

Measured, Indicated and Inferred Mineral Resources(1)(2)(3)(4)(5)
(excluding Proved and Probable Ore Reserves)

-------------------------------------------------------------
Category Tonnes Gold Copper
(x 10(6)) (grams per tonne) (%)
-------------------------------------------------------------
Measured 0.11 2.2 0.0
-------------------------------------------------------------
Indicated 0.59 2.6 0.7
-------------------------------------------------------------
Measured + Indicated 0.70 2.6 0.6
-------------------------------------------------------------
Inferred 2.75 5.0 1.2
-------------------------------------------------------------
*T

(1) The Mineral Resources for the Peak gold mine properties set
out in the table above have been prepared by Peak Gold Mines
Pty Ltd. and Terry Hennessey, P.Geo., geologist, at Micon. The
Mineral Resources are classified as Measured, Indicated and
Inferred, and are based on the JORC Code. It is Micon`s
opinion that the Measured, Indicated and Inferred Mineral
Resources presented above are individually the equivalent of
the measured, indicated and inferred mineral resource
categories as presented in the CIM standards.

(2) The Mineral Resources were estimated using 2D and 3D ordinary
kriged block models, constrained by geological and grade
domains.

(3) Included in the Mineral Resources are portions of Ore Reserve
stope outlines which have been classified as an Inferred
Mineral Resource and mineralized material above the
deposit/zone cut-off grade, with adequate continuity, in areas
where mining may be possible but has not yet been demonstrated
to be economic. Excluded from the Identified Mineral Resources
are mined material and material unlikely to be converted to
reserve status for engineering or technical reasons and
remnant stope pillars, skins and other material sterilized as
a result of mining as well as discontinuous mineralization.

(4) Cautionary Note to U.S. Investors Concerning Estimates of
Measured, Indicated and Inferred Resources: This press release
uses the terms "Measured", "Indicated" and "Inferred"
Resources. U.S. investors are advised that while such terms
are recognized and required by Canadian regulations, the U.S.
Securities and Exchange Commission does not recognize them.
"Inferred Resources" have a great amount of uncertainty as to
their existence, and great uncertainty as to their economic
and legal feasibility. It cannot be assumed that all or any
part of an inferred resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of Inferred
Resources may not form the basis of feasibility or other
economic studies. U.S. investors are cautioned not to assume
that all or any part of Measured or Indicated Resources will
ever be converted into reserves. U.S. investors are also
cautioned not to assume that all or any part of an Inferred
Mineral Resource exists, or is economically or legally
mineable.

(5) Mineral Resources which are not Mineral Reserves do not have
demonstrated economic viability. Luismin 2002 Production
Update

Wheaton River also reported that production from its Luismin gold
and silver operations in Mexico for the year ended December 31, 2002,
totalled 193,372 gold equivalent ounces (106,578 gold ounces and 5.85
million silver ounces) at an estimated cash cost of US$187 per ounce.

Safe Harbor Statement under the United States Private Securities
Litigation Reform Act of 1995: Except for the statements of historical
fact contained herein, the information presented constitutes
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including but not limited to those with respect to the
price of gold, silver and copper, the timing and amount of estimated
future production, costs of production, reserve determination and
reserve conversion rates involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Wheaton River to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include,
among others, risks related to the integration of acquisitions, risks
related to international operations, risks related to joint venture
operations, the actual results of current exploration activities,
actual results of current reclamation activities, conclusions of
economic evaluations, changes in project parameters as plans continue
to be refined, future prices of gold and silver, as well as those
factors discussed in the section entitled "Risk Factors" in the Form
20-F as on file with the Securities and Exchange Commission in
Washington, D.C. Although Wheaton River has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.

--30--AWG/na*

CONTACT: Wheaton River Minerals, Ltd.
Investor Relations, 800/567-6223
www.wheatonriver.com

KEYWORD: ARGENTINA AUSTRALIA INTERNATIONAL CANADA LATIN AMERICA
ASIA PACIFIC
INDUSTRY KEYWORD: ENVIRONMENT MINING/METALS MERGERS/ACQ
SOURCE: Wheaton River Minerals, Ltd.

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Copyright 2003, Business Wire

[Ducati998]

Kannste mal übersetzen,ist mir heute echt zu anstrengend!

[Insiderin007]

Der Aktionär möchte nur mal wieder an eine seiner Lieblingsaktien erinnern, das ist alles...
I007

[hakunamatata42]

Soll wirklich ne fundamental gute Truppe sein.
Leider haben wir kaum Umsätze an schlechten Tagen.
Was solides aber unbekannt nix zum traden wegen der hohen Spreads.

[rainer271]

Wird in Deutschland viel zu teuer gehandelt.
Akt.: Berlin: 1,10 €
Aha, jetzt endlich billiger in FFM: 0,95 €
An der Amex interessiert sich scheinbar keiner für die heutigen news.
WHT 0,95 US$
Rainer

[Dickhaut]

weiß jemand wann die Quartal 4 zahlen rauskommen ?
Dürften sensationell werden.