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Gold Wheaton Enters Into Gold Purchase Agreement

Fri, Nov 6, 2009

Gold Company News

Gold Wheaton Gold Corp. (TSX VENTURE:GLW) today announced that Gold Wheaton Corporation ,a 100% owned subsidiary, has signed a definitive agreement with First Uranium Corporation (TSX:FIU)(JSE:FUM) and its subsidiary Ezulwini Mining Company Limited.

The press release is quoted as saying:

Under the terms of the Transaction, Gold Wheaton will pay First Uranium US$50 million on closing and will make an ongoing payment equal to the lesser of US$400 per delivered ounce and the prevailing spot price of gold, subject to an annual inflation adjustment of one percent, starting on the fourth anniversary of closing. Gold Wheaton will not be required to contribute to any capital or exploration expenditures in respect of the Ezulwini Mine.

Click here to access the entire press release

Click here to access Gold Wheaton Gold Corp’s Site

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Asides

  • For upcoming gold investing trade shows, see the following links: Cambridgehouse, IIC, Chicago Resource Expo

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  • The Gold Investing Glossary: This glossary covers investing in junior resource companies. For the experienced investor or the newbie, you should find everything you need here. If not, let us know and we’ll research and add what you’re looking for.

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  • GoldInvestingNews.com maintains a focus on Gold exploration and investment opportunities. For broader Natural Resource Investing, see ResourceInvestingNews.com.

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  • ResponsibleMiner.com is a new web site with a wiki for mining companies and suppliers can discuss best practices in the mining industry.  Also, check for profiles of companies doing great things to improve mining best practices.

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