Wheaton Precious Metals Posted Record Gold Output in 2019

SEATTLE (Scrap Monster): For the first time in the history of the company, Wheaton Precious Metals produced over 400,000 ounces of gold. This is in accordance with the press release outlining the company’s financial and operational results for fourth quarter and full year 2019. The company generated strong operating cash flow on record gold production and sales volumes during the previous year.

The attributable gold production during the fourth quarter was over 100,000 ounces, resulting in record annual gold production in excess of 406,000 ounces in 2019. The total production of 707,200 gold equivalent ounces in 2019 exceeded the guidance. The gold sales volume too hit record high of nearly 390,000 ounces. The total cash flow for Q4 and full-year 2019 was $131 million and $500 million respectively. Wheaton Precious Metals reduced its net debt by $418 million in 2019.

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The company foresees estimated attributable production to range between 390,000 and 410,000 ounces of gold in 2020. For the five-year period ending 2024, it expects an average annual gold equivalent production of around 750,000 ounces.

Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals noted that the strong organic growth profile combined with numerous opportunities will help the company to set many new records in the coming years.