Silver Wheaton Reports Record Quarterly Silver Equivalent Output

Silver Wheaton Corp. (TSX:SLW,NYSE:SLW) announced its unaudited Q2 2015 results, reporting record attributable silver equivalent production of 10.9 million ounces — that’s a 27-percent rise from the year-ago quarter.
The company also announced a Q3 cash dividend payment of US$0.05 per common share.
Other Q2 highlights include:

• Record silver equivalent sales volume in Q2 2015 of 10.0 million ounces (5.6 million ounces of silver and 61,000 ounces of gold), compared with 7.5 million ounces in Q2 2014, representing an increase of 34%.
• During the three month period ending June 30, 2015, payable silver equivalent ounces attributable to the Company produced but not yet delivered were virtually unchanged at approximately 6.5 million ounces.
• Revenues of $164.4 million in Q2 2015 compared with $148.6 million in Q2 2014, representing an increase of 11%.
• Average realized sale price per silver equivalent ounce sold in Q2 2015 of $16.38 ($16.42 per ounce of silver and $1,195 per ounce of gold), compared with $19.83 in Q2 2014, representing a decrease of 17%.
• Net earnings of $53.7 million ($0.13 per share) in Q2 2015 compared with $63.5 million ($0.18 per share) in Q2 2014, representing a decrease of 15%.
• Operating cash flows of $109.3 million ($0.27 per share) in Q2 2015 compared with $102.5 million ($0.29 per share) in Q2 2014, representing an increase of 7%.
• Cash operating margin in Q2 2015 of $11.62 per silver equivalent ounce compared with $15.11 in Q2 2014, representing a decrease of 23%.
• Average cash costs in Q2 2015 were $4.26 and $395 per ounce of silver and gold, respectively. On a silver equivalent basis, average cash costs increased to $4.76 compared with $4.72 in Q2 2014.
• Declared quarterly dividend of $0.05 per common share.
• Hudbay Minerals Inc.’s (“Hudbay”) Constancia mine in Peru achieved commercial production on April 30, 2015.

Click here to read the full Silver Wheaton Corp. (TSX:SLW,NYSE:SLW) press release.