Silver Wheaton Corp. (TSX, NYSE:SLW) has bought all the silver produced by Hellas Gold SA at its lead-zinc-silver Stratoni mine in northern Greece.
Silver Wheaton paid the European Goldfields Ltd. subsidiary US$57.5 million in cash for the Stratoni mine's silver and will pay it a production cost of US$3.90 per ounce.
The Stratoni mine is expected to produce roughly one million ounces of silver in 2007.
Silver Wheaton also received right of first refusal to buy any future silver from other mines owned and operated by Hellas.
Silver Wheaton's share price range during the past week: between $12.35 and $12.92; 52-week high: $13.74; 52-week low: $7.41.