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Silver Wheaton Corp. Message Board

  • franjewy franjewy Sep 11, 2005 1:31 AM Flag

    Old Wheaties, please refresh my memory

    Do you remember La Guitarra mine that Wheaton River sold to Genko Resources? Why did we sell the mine? Anyone remembers? Was it because it is mostly a silver mine? I understand the ore is now trucked to San Martin's refinery.
    Thanks for any help.

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    • "Why did we sell the mine?"

      Low grade and a relatively small deposit ...

      It was a case of where an small owner/operator can make a good living at operating it, but for a large integrated mining company with lots of overheads it is just a nuisance ...

      Wheaton probably made more cash up front out of the selling price than it would have made over the next 5 years by mining it ...

      And since the silver is being refined at San Martin, WHT/GG is still getting a cut of the profits without the risk, lol ...

      Regards ...

      jc

 
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