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    ARTG   CA04302L1004

ARTEMIS GOLD INC.

(ARTG)
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Artemis Gold Gets $141 Million Silver Stream Offer from Wheaton Precious Metals

11/16/2021 | 07:36am EST

By Adriano Marchese

Artemis Gold Inc. said Tuesday that it received an offer from Wheaton Precious Metals Corp. to purchase half of the silver production from its British Columbia project for an upfront payment of $141 million.

The company said the silver stream offer would be to acquire 50% of the silver production from the mineral deposits of the company's Blackwater Gold Project until about 18 million ounces of silver have been delivered.

After that, the stream would reduce to 33% of the silver production for the life of the mine.

The $141 million consideration would be paid in tranches during the major works construction of the project, and Wheaton would also make continued payments equal to about 18% of the spot silver prices until the up-front deposit payment is reduced to zero, after which it will rise to 22%.

Artemis Gold said it would use the proceeds of the deal to advance the development and construction of the project.

"This silver stream provides the capital along with our cash position to complement the project debt financing supporting the overall capital required for the development of our Blackwater project," Chairman and Chief Executive Steven Dean said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

11-16-21 0736ET

Stocks mentioned in the article
ChangeLast1st jan.
ARTEMIS GOLD INC. 2.54% 6.05 Delayed Quote.-14.49%
GOLD 0.31% 1849.21 Delayed Quote.0.30%
PLATINUM 0.15% 1027 Delayed Quote.6.62%
SILVER -0.36% 23.8706 Delayed Quote.4.26%
WHEATON PRECIOUS METALS CORP. 0.39% 51.03 Delayed Quote.-6.36%
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More news
Analyst Recommendations on ARTEMIS GOLD INC.
More recommendations
Financials (USD)
Sales 2021 0,20 M - -
Net income 2021 -7,93 M - -
Net cash 2021 186 M - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 719 M 719 M -
EV / Sales 2021 2 703x
EV / Sales 2022 1 079x
Nbr of Employees 10
Free-Float -
Chart ARTEMIS GOLD INC.
Duration : Period :
Artemis Gold Inc. Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Last Close Price 4,67 $
Average target price 10,08 $
Spread / Average Target 116%
EPS Revisions
Managers and Directors
Steven G. Dean Chairman & Chief Executive Officer
Chris Batalha Chief Financial Officer & Secretary
Jeremy Langford Chief Operating Officer
William P. Armstrong Independent Director
Robert George Atkinson Vice Chairman
Sector and Competitors