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Silver Wheaton Corp. Message Board

  • htiek_au htiek_au Apr 24, 2006 9:46 PM Flag

    OT: Codelco mentioned in SLW CC

    Did anyone else hear the question about Codelco during the SLW conference call?


    This is in the rumor phase; it could get interesting.

    Codelco May Spin Out Assets
    Chile's state-owned copper producer Codelco is pondering spinning out its silver and gold assets into a publicly traded company to take advantage of recent rises in both precious metals. Codelco is studying various options to raise financing to fund its $12 billion investment program, among them a possible offering of shares in a newly formed company. Codelco produces silver and gold as a byproduct of its copper mining which earned the Chilean government a record $4.9 billion last year. Last month the producer was valued at around $24.5 to $25.7 billion. It is thought that the new company would list its shares on some combination of the Toronto, New York or London stock exchanges.

    I tried to post the link to the above article but yahoo blocked it. Type codelco silver into a search engine and you'll find it in a latin finance journal article.

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