Silver Wheaton

[navyblue]

The Adam & Eve double top pattern from Bulkowski's site:
https://thepatternsite.com/aedt.html

[coach247]

Solid Financial Results and Strong Balance Sheet

First quarter of 2023: $214 million in revenue, $135 million in operating cash flow, $111 million in net earnings and $104 million in adjusted net earnings1

A cash balance of $800 million and no debt as at March 31, 2023

Undrawn $2 billion revolving credit facility with a July 18, 2027 maturity date

Declared a quarterly dividend1 of $0.15 per common share

High Quality Asset Base

Streaming agreements on 20 operating mines and 12 development projects

93% of attributable production from assets in the lowest half of their respective cost curves2,3

30 years of mine life based on Proven and Probable Mineral Reserves and potential additional mine life from mineral resource conversion and exploration2,4

Attributable gold equivalent production3 ("GEOs") of 141,800 ounces in the first quarter of 2023

Production from Salobo in the first quarter of 2023 was 43,700 ounces of gold, an increase of over 15% relative to the fourth quarter of 2022, due to steady ramp up of the Salobo III expansion

As per Hudbay Minerals Inc. ("Hudbay"), full mining activities at the Constancia mine resumed in the Pampacancha pit in February, with mining of higher-grade ore now expected in the second quarter of 2023, ahead of schedule

Average annual production for the five and ten-year periods is expected to be approximately 810,000 and 850,000 GEOs2,3, respectively

https://ca.finance.yahoo.com/news/wheat ... 00396.html

Solid start to the year, my ass... Revenue and net earnings down about 30% from the same period last year. Cash flow from operations DOWN $75 million. But they do brag about all their woke, sustainable bullshit and carbon zero nonsense. They promoted the fucking secretary to CEO so they could have a skirt running the company. Good thing all that HR skill is going to build the streaming biz? I think not. I fucking hate these woke assholes that have destroyed the mining sector. Nonetheless I continue to hold a core position and will add to it if the stock drops in the next few sessions, as it should.
cheers!
mike

[coach247]

I sold some WPM to get out of the way. So far we dodged one bullet with the benign and expected quarter point FOMC rate hike. Tomorrow WPM is supposed to report earnings and I cannot see them beating estimates. Not with metals prices lower and most of the miners reporting lower overall production. WPM is not facing much impact from the increased inflation, but the metals streams accounting for their income are probably going to be lower this quarter because lower mine output means lower stream leverage. I think the stock is vulnerable and we have not seen any money flow out of the sector this month so that could be a trigger if weak results encourage the sell-in-May crowd to act.

I have been mostly wrong with my short term expectations this time around. I thought we would get a more serious selling/shorting around the Comex op-ex and with NFP on deck this friday I am still probably not wrong in looking for at least a mini-slam. But I also think the more I act decisively to be positioned for an obvious slam, the more the fucking market goes the other way. Only when I sit tight and do nothing do we actually get the Mother of All Interventions...

My life would be better if I had just abandoned all stock trading 10 years ago and spent the money on hookers and drugs. I mean that sincerely. I do not even know what I am investing in anymore when these fucking out-of-touch elites running the big mining stocks all get lathered up about woke stupidity and it seems the actual bottom line is the least important factor in their decision making. How can one determine fair value for these companies when the corporate policies are in direct opposition to the soundness of their own operations? Lets hire a bunch of diverse idiots that have no clue how to run a business but they sure look progressive! Do not even get me started on the climate change fuckery and the financial fuckery that they all support.

Whatever. Its only money and I think there is a plan to have everything essential collapse within a matter of years anyway. Who cares about stock values when the market is unable to secure raw materials and mines are shut down because the imbeciles managing it all cannot even keep the lights on or the bridges from collapsing?
cheers!
mike

[coach247]

Some of the producers have been punished this quarter after reporting slightly lower production, or higher costs due to inflation. Several have also come out with lower guidance going forward. WPM reported earnings after the close yesterday, in line with the rest of the sector, including lower net earnings. Maybe it was already baked in at this point. Or maybe the metals are performing so strongly this NFP Friday that it is carrying the sector along for the ride. Whatever the case, WPM continues to outperform the producers with a big move up so far today of more than 5% from the previous close. I think the streaming model is ideal during inflationary times since the company is not directly exposed to the rising cost regime at the operating level. WPM may also be seen as more attractive for its dividend yield. I still hold a core position and was hoping I could pick up another unit of cheap shares during this correction. For now I am waiting because the rest of my PF is in the tank.
cheers!
mike

[navyblue]

My assumption is that we find the lows this week at the end of quarter

I'm kinda partial to next week. Especially if we stabilise a bit during this one.

[coach247]

Looks like a cross over over 500K completed @ $39.61 today. Does this mark a value range to buy? It represents a level of support going back 3 years that is now being tested. My assumption is that we find the lows this week at the end of quarter but with so much other market noise underway the bloodshed may not be limited to narrow consideration of the senior mining stocks. IF the bottom falls out of the markets then support will not hold for the miners either.
cheers!
mike

[coach247]

Hard to believe this stock has gone nowhere for about 10 years. I did buy a bit more this month at a price I can live with to hold for another 10 years. At least the dividend accumulates.
cheers!
mike

[navyblue]

[coach247]

I think WPM is just trading ex-div and that is almost always a selling event for this stock even though the dividend amount is relatively minor. The stock is perched right at multi-year support and I do not expect it to fall much further from here except for the nudge lower tomorrow along with FND. I have a bid in for AEM right now because the higher dividend payout is attractive but if I see WPM get swatted much lower I may just roll my bid to grab a few more WPM instead. Either one is pretty much a no-brainer long term buy right now even if the metals go lower and we endure another extended slump for the mining sector.
cheers!
mike

[navyblue]

Do not know what's wrong with this thing today after reporting a small beat yesterday in its earnings and revenue. However, $32,3 is very good volume support on the hourly. If it does not hold this flush, watch out....

[Dsquare]

Long view.

[navyblue]

[huesos]

Just how bad is CEF at this point?

[navyblue]

This is nuts. This was always a high beta but good value company. No more.

[Dsquare]

Under pressure from WEF Fukn banks?...
Under the renewed revolving credit facility, the interest rate paid on drawn amounts and standby fees will be adjusted based upon Wheaton's performance in three sustainability-related areas:
Wheaton's attributable emissions from third-party mining partners operations covered by science-based emissions targets
Diversity at the Wheaton group's board and management levels
Wheaton's S&P ESG score

Wheaton has also extended the maturity date of the renewed revolving credit facility by one year to July 18, 2027. The Company currently has no amounts drawn under the revolving credit facility.

The Bank of Nova Scotia and Bank of Montreal acted as Joint Bookrunners and Co-Lead Arrangers of the revolving credit facility. Bank of Montreal and Royal Bank of Canada acted as Co-Lead Sustainability Structuring Agents and Coordinators, and The Bank of Nova Scotia and Canadian Imperial Bank of Commerce acted as Co-Sustainability Agents. Bank of America, The Toronto-Dominion Bank and Export Development Canada acted as lenders.