Wheaton Precious Metals - Exceeding guidance and expectations
Wheaton Precious Metals’ (WPM’s) FY18 production outcome exceeded guidance for all of its products (namely gold, silver and palladium) to the point at which gold production and sales also achieved new records. Not only was gold production during the quarter ahead of guidance (which was expected), but it was also materially ahead of our prior expectations, driven by a 12.2% increase in production attributable from Salobo, and accounted for 64.3% of WPM sales. Of note was the fact that unit cash costs for both gold and silver declined compared with Q318.Wheaton Precious Metals is engaged in the silver mining business.
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