Dating dimas san
On March 30, 2006, Wheaton Precious Metals and Goldcorp amended the Luismin silver purchase agreement, eliminating any capital expenditure contributions previously required to be paid by Wheaton Precious Metals.In consideration for these amendments, Wheaton Precious Metals issued to Goldcorp 18 million Common Shares, representing approximately 9.8% of the then outstanding Common Shares, and a US million one year non-interest bearing promissory note, which was paid in full on March 29, 2007.Once milling, cyanidation, precipitation, and smelting occur at the San Dimas mill located near the town of Tayoltita, doré bars are poured and then transported to refineries in Mexico and the United States.On October 15, 2004, Wheaton Precious Metals entered into a silver purchase agreement with Goldcorp to purchase 100% of the silver produced by Goldcorp’s Luismin mining operations (owned by Goldcorp at the date of the transaction) for a period of 25 years, which consisted primarily of the San Dimas and Los Filos mines, for an upfront payment of C million in cash and 108 million Wheaton Precious Metals Common Shares, plus a payment equal to the lesser of US.90 per ounce of delivered silver (subject to an annual inflationary price adjustment) and the then prevailing market price per ounce of silver.
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Sulphide minerals include pyrite, sphalerite, chalcopyrite and galena as well as lesser amounts of argentite, polybasite, stromeyerite, native silver and lectrum.
Over the substantial mine life to date, the operating team at San Dimas has demonstrated a strong track-record of converting resources into reserves and the mine continues to exhibit excellent potential exploration upside.
The mine is a low-cost producer of gold and silver and has been in continuous production for well over 100 years.
The San Dimas gold-silver deposit, located in the San Dimas district on the border of Durango and Sinaloa states, is one of the most significant precious metal deposits in Mexico.