Wheaton Precious Metals Corp. (NYSE:WPM) Q1 2024 Earnings Call Transcript

Randy Smallwood: I mean it looks like it’s on track. We’ve — I mean, the work is moving forward. And so it’s an asset that we know well. We are pretty excited about it. It’s always delivered more silver than expected in times past, and so we’re expecting to see similar results out of it. And what’s really exciting about it is the current ownership group has identified and really is in the process of resolving the challenges that, that project had in the past. And so we think it’s going to be a nice pleasant addition to the re-addition to the portfolio this time around. And so we are pretty happy with that group. They’ve done a good job of identifying what the challenges are, and they’re putting the money right where it needs to be spent in terms of getting it there. So fully expect it to be coming on stream here within a couple of years.

Haytham Hodaly: And that $150 million will be provided in stage payments, right? It’s not all one lump up. It will be provided over, I would say, three or four different payments to $25 million each of the last one is $40 million.

Richard Hatch: Yes. Got you. Okay, fine. Sorry. while I’ve got you is that something that could be a Q2 outflow? Or is it too early to say that yet?

Randy Smallwood: Yes, it could be Q2.

Richard Hatch: Okay. Helpful. Thanks [indiscernible]. Much appreciated.

Randy Smallwood: Thanks, Richard, and thanks, everyone, for your time today. We are pleased to report a good, strong start to our 20th anniversary year here at Wheaton. Wheaton’s high-quality portfolio of assets, sector-leading growth profile and commitment to sustainability provides our shareholders with a solid outlook for the future and one of the best vehicles for investing into gold and precious metal space. As we celebrate our 20th anniversary throughout 2024 I am sincerely thankful to all of our stakeholders for being a part of Wheaton’s success, and I truly look forward to a golden future together. We look forward to speaking with you again soon. Thank you.

Operator: Thank you. This concludes this conference call for today. Thank you for participating. Please disconnect your lines.