Rua Gold: An Rising Gold Explorer in New Zealand’s Historic Goldfields

Stable Monetary Outcomes and Sturdy Stability Sheet

First quarter of 2024: $297 million in income, $219 million in working money circulation, $164 million in web earnings and $164 million in adjusted web earnings ¹ and, declared a quarterly dividend ¹ of $0.155 per frequent share.
Stability Sheet: money steadiness of $306 million , no debt, and an undrawn $2 billion revolving credit score facility as at March 31, 2024 , after making whole upfront money funds of $462 million relative to mineral stream and royalty pursuits within the quarter.

Excessive-High quality Asset Base

Streaming and royalty agreements on 18 working mines and 27 improvement tasks ⁵ .
93% of attributable manufacturing from belongings within the lowest half of their respective price curves ^2,4 .
Attributable gold equal manufacturing ³ of 160,100 ounces within the first quarter of 2024, a rise of 19% relative to the comparable interval of the prior 12 months due primarily to the mill throughput enlargement at Salobo and better manufacturing at Constancia as a result of mining of the high-grade zones of the Pampacancha deposit.
Forecasting annual manufacturing of over 800,000 gold equal ounces (“GEOs”) by 2028, with common annual attributable manufacturing rising to over 850,000 GEOs ³ in years 2029 to 2033.
Accretive portfolio progress:
- On February 27, 2024 , the Firm closed the beforehand introduced settlement with sure entities suggested by Orion Useful resource Companions to accumulate present PMPAs in respect of Ivanhoe Mines’ Platreef mission and BMC Minerals’ Kudz Ze Kayah mission.
- On February 20, 2024 , the Firm acquired a 1.5% Web Smelter Royalty from Integra Sources Company on the DeLamar and Florida Mountain mission.

Management in Sustainability

Prime Rankings: Ranked within the International Prime 50 out of over 15,000 multi-sector firms by Sustainalytics, AA rated by MSCI, and Prime rated by ISS.
Acknowledged amongst Company Knights’ 2024 100 most sustainable companies on the planet.
Peer-leading group funding program that helps social and environmental initiatives alongside Wheaton’s mining companions.

Operational Overview

(all figures in US {dollars} until in any other case famous)		Q1 2024		Q1 2023	Change
Items produced
Gold ounces		93,370		73,019	27.9 %
Silver ounces		5,476		5,134	6.7 %
Palladium ounces		4,463		3,705	20.5 %
Cobalt kilos		240		124	93.1 %
Gold equal ounces ³		160,133		134,730	18.9 %
Items offered
Gold ounces		92,019		62,605	47.0 %
Silver ounces		4,067		3,749	8.5 %
Palladium ounces		4,774		2,946	62.1 %
Cobalt kilos		309		323	(4.3) %
Gold equal ounces ³		143,184		109,293	31.0 %
Change in PBND and Stock
Gold equal ounces ³		2,102		11,756	9,654
Income	$	296,806	$	214,465	38.4 %
Web earnings	$	164,041	$	111,391	47.3 %
Per share	$	0.362	$	0.246	47.2 %
Adjusted web earnings ¹	$	163,589	$	104,431	56.6 %
Per share ¹	$	0.361	$	0.231	56.3 %
Working money flows	$	219,380	$	135,104	62.4 %
Per share ¹	$	0.484	$	0.299	61.9 %

All quantities in hundreds besides gold, palladium & gold equal ounces, and per share quantities.

Monetary Assessment

Revenues
Income within the first quarter of 2024 was $297 million (64% gold, 32% silver, 2% palladium and a couple of% cobalt), with the $82 million enhance relative to the prior interval quarter being primarily as a consequence of a 31% enhance within the variety of GEOs³ offered; and a 6% enhance within the common realized gold equivalent³ worth.

Money Prices and Margin
Common money costs¹ within the first quarter of 2024 had been $430 per GEO³ as in comparison with $475 within the first quarter of 2023. This resulted in a money working margin¹ of $1,643 per GEO³ offered, a rise of 10% as in contrast with the primary quarter of 2023, a results of the upper realized worth per ounce coupled with the decrease common money prices.

Money Move from Operations
Working money circulation within the first quarter of 2024 amounted to $219 million , with the $84 million enhance due primarily to the upper gross margin.

Stability Sheet (at March 31, 2024 )

Roughly $306 million of money readily available
In the course of the first quarter of 2024, the Firm made whole upfront money funds of $462 million relative to the mineral stream and royalty pursuits consisting of:
- $450 million relative to the Platreef and Kudz Ze Kayah valuable metals buy agreements (“PMPAs”)
- $7 million relative to the Mt Todd Royalty; and
- $5 million relative to the DeLamar Royalty
Subsequent to the quarter, the Firm disposed of its funding in Hecla Mining Firm for gross proceeds of $177 million .
With the present money readily available coupled with the totally undrawn $2 billion revolving credit score facility, the Firm believes it’s effectively positioned to fund all excellent commitments and identified contingencies in addition to offering flexibility to accumulate further accretive mineral stream pursuits.

International Minimal Tax

The Firm is inside the scope of worldwide minimal tax (“GMT”) beneath the OECD Pillar Two mannequin guidelines (“Pillar Two”), beneath which massive multinational entities will probably be topic to a 15% GMT. On Might 2, 2024 , the Canadian Federal Authorities launched the Federal finances invoice, C-69, into parliament which accommodates the International Minimal Tax Act (“GMTA”) reflecting utility of GMT to in-scope firms for fiscal years commencing on or after December 31, 2023 . Nevertheless, as of the date of this press launch, the laws associated to the GMTA has not been enacted. Because the laws was not enacted as of the Stability Sheet date, for the three months ended March 31, 2024 , the Firm has recorded no present tax expense related to GMT, though the Firm’s wholly-owned international subsidiaries which reside in jurisdictions the place the GMT is predicted to use had web earnings of $165 million with 15% of such amounting to $25 million .

The Firm will acknowledge the tax expense related to the GMT in its consolidated monetary statements within the acceptable interval relative to when the laws is enacted. If enacted as drafted, Firm’s wholly-owned international subsidiaries which reside in jurisdictions the place the GMT is predicted to use can be topic to the proposed Canadian guidelines within the GMTA retroactively to January 1, 2024 .

First Quarter Working Asset Highlights ²

Salobo: Within the first quarter of 2024, Salobo produced 61,600 ounces of attributable gold, a rise of roughly 41% relative to the primary quarter of 2023, pushed by greater throughput, with manufacturing from the third concentrator line commencing on the finish of 2022, partially offset by decrease grades which was anticipated as per the mine improvement plan. As reported by Vale S.A. (“Vale”), Salobo 3 reached ~90% common throughput within the first quarter because the ramp-up continues. Salobo 1 & 2 crops additionally posted sturdy efficiency within the quarter, with 14% greater throughput charge, 10% productiveness and three% greater asset availability relative to the primary quarter of 2023.

On November 21, 2023 , Vale reported the profitable completion of the throughput take a look at for the primary section of the Salobo III mission, with the Salobo advanced exceeding a median of 32 million tonnes each year (“Mtpa”) over a 90-day interval. Below the phrases of the settlement, the Firm paid Vale $370 million for the completion of the primary section of the Salobo III enlargement mission on December 1, 2023 . The remaining steadiness of the enlargement cost relies on the timing of completion and will probably be triggered as soon as Vale expands precise throughput above 35 Mtpa for a interval of 90 days.

Antamina: Within the first quarter of 2024, Antamina produced 0.8 million ounces of attributable silver, a lower of roughly 8% relative to the primary quarter of 2023 primarily as a consequence of decrease grades. On February 15, 2024 , Peru’s Nationwide Environmental Certification Service for Sustainable Investments accredited, after an in depth analysis course of, the Modification of the Environmental Influence Research, which is able to permit for the extension of Antamina’s mine life from 2028 to 2036.

Peñasquito: Within the first quarter of 2024, Peñasquito produced 2.6 million ounces of attributable silver, a rise of roughly 27% relative to the primary quarter of 2023 primarily as a consequence of greater grades.

Constancia: Within the first quarter of 2024, Constancia produced 0.6 million ounces of attributable silver and 13,900 ounces of attributable gold, a rise of roughly 16% and 101%, respectively, relative to the primary quarter of 2023, with the will increase being primarily the results of considerably greater gold grades attributable to the mining of high-grade zones of the Pampacancha deposit, mixed with greater recoveries.

On March 28, 2024 , Hudbay Minerals Inc., (“Hudbay”) reported that Constancia’s anticipated mine life has been prolonged by three years to 2041 because of the profitable conversion of mineral assets to mineral reserves with the addition of an extra mining section on the Constancia pit following constructive geotechnical drilling and research in 2023. There stays potential for future mine life extensions based mostly on the mineral assets that haven’t but been transformed to mineral reserves.

Sudbury : Within the first quarter of 2024, Vale’s Sudbury mines produced 7,000 ounces of attributable gold, a rise of roughly 14% relative to the primary quarter of 2023, as a consequence of greater throughput.

Stillwater : Within the first quarter of 2024, the Stillwater mines produced 2,600 ounces of attributable gold and 4,500 ounces of attributable palladium, a rise of roughly 35% for gold and 20% for palladium relative to the primary quarter of 2023, due primarily to greater throughput and grades.

Voisey’s Bay: Within the first quarter of 2024, the Voisey’s Bay mine produced 240,000 kilos of attributable cobalt, a rise of roughly 93% relative to the primary quarter of 2023, because the transitional interval between the depletion of the Ovoid open-pit and ramp-up to full manufacturing of the Voisey’s Bay underground mine nears completion. Vale stories that bodily completion of the Voisey’s Bay underground mine extension was 94% on the finish of the primary quarter, and that the principle floor belongings are accomplished and already working. Within the underground portion, the scope in Reid Brook is accomplished and the mine improvement at Japanese Deeps is concluded. Development of the Bulk Materials Dealing with system, dewatering and help services is ongoing. The total mine belongings at Japanese Deeps are anticipated to be in operation by the tip of 2024.

Different Gold: Within the first quarter of 2024, whole Different Gold attributable manufacturing was 600 ounces, a lower of roughly 82% relative to the primary quarter of 2023, primarily as a result of closure of the Minto mine in Might 2023 .

Different Silver: Within the first quarter of 2024, whole Different Silver attributable manufacturing was 1.4 million ounces, a lower of roughly 15% relative to the primary quarter of 2023, primarily as a result of momentary suspension of attributable manufacturing from Aljustrel.

Detailed mine-by-mine manufacturing and gross sales figures may be discovered within the Appendix to this press launch and in Wheaton’s consolidated MD&A within the ‘Outcomes of Operations and Operational Assessment’ part.

Current Improvement Asset Updates

Blackwater Challenge: On February 21, 2024 , Artemis Gold Inc. (“Artemis”) introduced the outcomes of an enlargement examine to optimize the timing of mine enlargement by way of the advancing of Section 2. A choice on the acceleration of the Section 2 enlargement is predicted to be thought of within the second half of 2024. On April 24, 2024 , Artemis introduced that general development was roughly 73% full and that development of main web site water administration services, together with the water administration pond, the central diversion system, and the Davidson Creek diversion, have been accomplished together with work on the tailings storage facility which is progressing effectively. Artemis additionally states that the mission stays on schedule for first gold pour within the second half of 2024.

Platreef Challenge: On April 30, 2024 , Ivanhoe Mines Ltd. (“Ivanhoe”) reported that development actions for the Platreef Section 1 concentrator are on schedule at nearly 90% full and on monitor for chilly commissioning within the third quarter of 2024. An up to date unbiased feasibility examine on an optimized improvement plan for the acceleration of Section 2 is deliberate to be accomplished and revealed within the fourth quarter of 2024. Because of the deliberate acceleration of Section 2, first feed and ramp-up of manufacturing will probably be deferred till mid-2025. As well as, a preliminary financial evaluation on a Section 3 enlargement is predicted to be accomplished on the identical time, growing Platreef’s processing capability as much as roughly 10 Mtpa. A Section 3 enlargement to 10 Mtpa processing capability is predicted to rank Platreef as one of many world’s largest platinum-group steel, nickel, copper and gold producers.

Goose Challenge: On Might 7, 2024 , B2Gold Corp., (“B2Gold”) introduced the profitable completion of the 2024 winter ice street (“WIR”) marketing campaign, delivering all vital supplies to finish the development of the Goose mission. B2Gold stories that whereas mill development stays on schedule, improvement of the open pit and underground is barely delayed as a consequence of gear availability, antagonistic climate situations and prioritization of crucial path development actions. In consequence, B2Gold stories that first gold pour is now anticipated within the second quarter of 2025 with ramp as much as full manufacturing within the third quarter of 2025, one quarter later than earlier estimates.

Marmato Mine: On April 15, 2024 , Aris Mining Company (“Aris”) supplied an replace that on the Marmato Decrease Mine enlargement mission, the entry street to the brand new processing facility space is now full and earthworks within the plant space will start quickly. The contractor for the brand new portal and decline is totally mobilized and slicing of the portal face has commenced.

Curipamba Challenge: On January 22, 2024 , Adventus Mining Company (“Adventus”) introduced that the Ministry of Atmosphere, Water and Power Transition of the Authorities of Ecuador has granted the environmental license for the development and operation of the El Domo – Curipamba mission (the “Curipamba mission”). On January 30, 2024 , Adventus introduced that the Ministry of Power and Mines of Ecuador has issued a allow which grants approval for the design, development, operation, and upkeep of the tailings storage facility (“TSF”) for the Curipamba mission. The beginning of TSF development is a key situation precedent for the Firm to make further upfront money funds beneath the Curipamba PMPA.

On April 26, 2024 , Adventus introduced that Silvercorp Metals Inc. (“Silvercorp”) has entered right into a definitive association settlement with Adventus pursuant to which Silvercorp has agreed to accumulate all the issued and excellent frequent shares of Adventus. As reported by Silvercorp, the present stream with Wheaton, mixed with Silvercorp’s present money and money equivalents of roughly $200 million , is greater than ample to completely fund the Curipamba mission by way of development.

Fenix Challenge: On April 8, 2024 , Rio2 Restricted (“Rio2”) introduced that its Chilean subsidiary has acquired the formal Environmental Qualification Decision (“RCA”) for the Fenix gold mission. The receipt of the RCA now permits Rio2 to advance allowing actions for the Fenix mission. Rio2 has famous that there are 4 principal Sectorial Permits required earlier than development can start on the Challenge: 1) Mining Strategies; 2) Course of Plant; 3) Waste Dumps & Stockpiles; and 4) Closure Plan and that work on these permits is effectively underway. Rio2 notes that the present timing for receipt of those principal permits is by the tip of July 2024 .

Cangrejos Challenge: On January 18, 2024 , Lumina Gold Corp. (“Lumina”) introduced outcomes from the section 1 mining useful resource conversion drilling marketing campaign in help of the continued feasibility examine at Cangrejos. Lumina famous that the assays from the useful resource infill program proceed to exhibit the distinctive continuity of grade at Cangrejos. Lumina additionally famous that it’s working usually on the Cangrejos mission and to this point their actions haven’t been affected by the latest civil disturbances which have impacted different areas in Ecuador .

Curraghinalt Challenge: Subsequent to the quarter, the Planning Appeals Fee & Water Appeals Fee (“the fee”) in Northern Eire concluded that the water abstraction and impoundment licenses (“water licenses”) relative to the Curraghinalt Challenge have been rescinded and that license functions would should be resubmitted and subsequent public inquiry referrals held. The fee famous that it has suspended preparations for the present inquiry timetable till it’s in receipt of the anticipated water license functions, at which period it’s going to transfer to set instructions and new dates for the submission of statements of case, rebuttals, and for the opening of the re-scheduled listening to periods sooner or later.

Company Improvement

DeLamar Royalty
On February 20, 2024 , the Firm bought a 1.5% web smelter return royalty curiosity (“DeLamar Royalty”) within the DeLamar and Florida mountain mission positioned in Idaho , United States (the “DeLamar mission”) from a subsidiary of Integra Sources Company (“Integra”) for $9.75 million to be paid in two equal installments, the primary of which was paid within the first quarter of 2024, with the steadiness anticipated to be paid in July 2024 topic to customary situations. Below the DeLamar Royalty, if completion will not be achieved by January 1, 2029 , the DeLamar Royalty will enhance yearly by 0.15% of web smelter returns to a most of two.7% of web smelter returns. The Firm had beforehand acquired a proper of first refusal on any valuable metals streaming, royalty, pre-pay or different comparable transaction on the DeLamar mission.

Sustainability

Rankings & Awards:

On January 17, 2024 , the Firm introduced its rating amongst Company Knights’ 2024 100 Most Sustainable Companies on the planet. The Firm will probably be included within the International 100 Index, which represents a benchmark for sustainability excellence.

Neighborhood Funding Program:

On March 1, 2024 , Wheaton Worldwide commenced a brand new program with the Vale Basis to help an bold three-year initiative in Brazil that goals to enhance the first well being care being provided within the municipalities close to the Salobo mine and alongside the Carajas railroad. This system will probably be carried out in 8 municipalities of Pará State, impacting roughly 550,000 people and in 24 municipalities of Maranhão State, impacting roughly 1.3 million people. Wheaton Worldwide and the Vale Basis every dedicated BRL$17 million. The overall contribution of Wheaton and the Vale Basis of BRL$34 million is being matched by the Brazilian Improvement Financial institution, magnifying the affect of the contribution being made by Wheaton Worldwide.
The Pacific Salmon Basis’s Vancouver Gala introduced by Wheaton raised CA$0.5 million in help of advancing crucial marine science analysis and conservation work.
The Daffodil Ball introduced by Wheaton raised over CA$4.4 million for the Canadian Most cancers Society.

2024 and Lengthy-Time period Manufacturing Outlook

Wheaton’s estimated attributable manufacturing in 2024 is forecast to be 325,000 to 370,000 ounces of gold, 18.5 to twenty.5 million ounces of silver, and 12,000 to fifteen,000 GEOs ³ of different metals, leading to annual manufacturing of roughly 550,000 to 620,000 GEOs ³ , unchanged from earlier steering ^2,3 .

Annual manufacturing is forecast to extend by roughly 40% to over 800,000 GEOs ³ by 2028, with common annual manufacturing forecast to develop to over 850,000 GEO ³ in years 2029 to 2033, additionally unchanged from earlier steering.

About Wheaton Treasured Metals Corp.

Wheaton is the world’s premier valuable metals streaming firm with the highest-quality portfolio of long-life, low-cost belongings. Its enterprise mannequin affords traders commodity worth leverage and exploration upside however with a a lot decrease danger profile than a conventional mining firm. Wheaton delivers amongst the very best money working margins within the mining trade, permitting it to pay a aggressive dividend and proceed to develop by way of accretive acquisitions. In consequence, Wheaton has constantly outperformed gold and silver, in addition to different mining investments. Wheaton is dedicated to sturdy ESG practices and giving again to the communities the place Wheaton and its mining companions function. Wheaton creates sustainable worth by way of streaming for all of its stakeholders.

In accordance with Wheaton Treasured Metals™ Corp.’s (“Wheaton Treasured Metals”, “Wheaton” or the “Firm”) MD&A and Monetary Statements, reference to the Firm and Wheaton contains the Firm’s wholly owned subsidiaries.

Webcast and Convention Name Particulars

A convention name will probably be held on Friday, Might 10, 2024 , beginning at 8:00am PT ( 11:00 am ET ) to debate these outcomes. To take part within the dwell name please use one of many following strategies:

RapidConnect URL:	Click on right here
Dwell webcast:	Click on right here
Dial toll free:	1-888-664-6383 or 1-416-764-8650
Convention Name ID:	12432661

Members ought to dial in 5 to 10 minutes earlier than the decision.

The convention name will probably be recorded and obtainable till Might 17, 2024 at 11:59 pm ET . The webcast will probably be obtainable for one 12 months. You’ll be able to hearken to an archive of the decision by one of many following strategies:

Dial toll free from Canada or the US	1-888-390-0541
Dial from outdoors Canada or the US:	1-416-764-8677
Cross code:	432661 #
Archived webcast:	Click on right here

This earnings launch must be learn along with Wheaton Treasured Metals’ MD&A and Monetary Statements, which can be found on the Firm’s web site at www.wheatonpm.com and have been posted on SEDAR+ at www.sedarplus.ca .

Mr. Wes Carson , P.Eng., Vice President, Mining Operations, Neil Burns , P.Geo., Vice President, Technical Providers for Wheaton Treasured Metals and Ryan Ulansky , P.Eng., Vice President, Engineering, are a “certified particular person” as such time period is outlined beneath Nationwide Instrument 43-101, and have reviewed and accredited the technical data disclosed on this information launch (particularly Mr. Carson has reviewed manufacturing figures, Mr. Burns has reviewed mineral useful resource estimates and Mr. Ulansky has reviewed the mineral reserve estimates).

Wheaton Treasured Metals believes that there are not any vital variations between its company governance practices and people required to be adopted by United States home issuers beneath the NYSE itemizing requirements. This affirmation is positioned on the Wheaton Treasured Metals web site at http://www.wheatonpm.com/Firm/corporate-governance/default.aspx .

Condensed Interim Consolidated Statements of Earnings

	Three Months Ended March 31
(US {dollars} and shares in hundreds, besides per share quantities – unaudited)	2024		2023
Gross sales	$	296,806	$	214,465
Value of gross sales
Value of gross sales, excluding depletion	$	61,555	$	51,964
Depletion		63,676		45,000
Whole price of gross sales	$	125,231	$	96,964
Gross margin	$	171,575	$	117,501
Basic and administrative bills		10,464		10,099
Share based mostly compensation		1,281		7,397
Donations and group investments		1,570		1,378
Earnings from operations	$	158,260	$	98,627
Different earnings (expense)		7,196		7,562
Earnings earlier than finance prices and earnings taxes	$	165,456	$	106,189
Finance prices		1,442		1,378
Earnings earlier than earnings taxes	$	164,014	$	104,811
Revenue tax restoration		(27)		(6,580)
Web earnings	$	164,041	$	111,391
Fundamental earnings per share	$	0.362	$	0.246
Diluted earnings per share	$	0.362	$	0.246
Weighted common variety of shares excellent
Fundamental		453,094		452,370
Diluted		453,666		453,159

Condensed Interim Consolidated Stability Sheets

	As at March 31		As at December 31
(US {dollars} in hundreds – unaudited)	2024		2023
Belongings
Present belongings
Money and money equivalents	$	306,109	$	546,527
Accounts receivable		5,514		10,078
Cobalt stock		–		1,372
Revenue taxes receivable		5,851		5,935
Different		3,374		3,499
Whole present belongings	$	320,848	$	567,411
Non-current belongings
Mineral stream pursuits	$	6,510,767	$	6,122,441
Early deposit mineral stream pursuits		47,094		47,093
Mineral royalty pursuits		25,448		13,454
Lengthy-term fairness investments		246,652		246,678
Property, plant and gear		7,996		7,638
Different		21,650		26,470
Whole non-current belongings	$	6,859,607	$	6,463,774
Whole belongings	$	7,180,455	$	7,031,185
Liabilities
Present liabilities
Accounts payable and accrued liabilities	$	10,918	$	13,458
Dividends payable		70,261		–
Present portion of efficiency share items		6,261		12,013
Present portion of lease liabilities		518		604
Whole present liabilities	$	87,958	$	26,075
Non-current liabilities
Efficiency share items	$	2,991	$	9,113
Lease liabilities		5,423		5,625
Deferred earnings taxes		242		232
Pension legal responsibility		4,646		4,624
Whole non-current liabilities	$	13,302	$	19,594
Whole liabilities	$	101,260	$	45,669
Shareholders’ fairness
Issued capital	$	3,784,848	$	3,777,323
Reserves		(47,717)		(40,091)
Retained earnings		3,342,064		3,248,284
Whole shareholders’ fairness	$	7,079,195	$	6,985,516
Whole liabilities and shareholders’ fairness	$	7,180,455	$	7,031,185

Condensed Interim Consolidated Statements of Money Flows

	Three Months Ended March 31
(US {dollars} in hundreds – unaudited)	2024		2023
Working actions
Web earnings	$	164,041	$	111,391
Changes for
Depreciation and depletion		64,013		45,390
Curiosity expense		74		17
Fairness settled inventory based mostly compensation		1,598		1,542
Efficiency share items – expense		(317)		5,855
Efficiency share items – paid		(11,129)		(16,675)
Pension expense		175		167
Pension paid		(43)		(96)
Revenue tax (restoration) expense		(27)		(6,580)
(Achieve) loss on truthful worth adjustment of share buy warrants held		(183)		(175)
Funding earnings acknowledged in web earnings		(6,438)		(7,148)
Different		(83)		79
Change in non-cash working capital		2,155		(2,072)
Money generated from operations earlier than earnings taxes and curiosity	$	213,836	$	131,695
Revenue taxes paid		(116)		(3,344)
Curiosity paid		(75)		(18)
Curiosity acquired		5,735		6,771
Money generated from working actions	$	219,380	$	135,104
Financing actions
Share buy choices exercised		3,816		9,376
Lease funds		(148)		(202)
Money generated from financing actions	$	3,668	$	9,174
Investing actions
Mineral stream pursuits	$	(450,902)	$	(31,524)
Early deposit mineral stream pursuits		–		(750)
Mineral royalty curiosity		(11,947)		–
Web proceeds on disposal of mineral stream pursuits		–		(29)
Acquisition of long-term investments		(751)		(8,144)
Dividends acquired		700		–
Different		(596)		(530)
Money used for investing actions	$	(463,496)	$	(40,977)
Impact of alternate charge adjustments on money and money equivalents	$	30	$	307
(Lower) enhance in money and money equivalents	$	(240,418)	$	103,608
Money and money equivalents, starting of interval		546,527		696,089
Money and money equivalents, finish of interval	$	306,109	$	799,697

Abstract of Items Produced

	Q1 2024	This autumn 2023	Q3 2023	Q2 2023	Q1 2023	This autumn 2022	Q3 2022	Q2 2022
Gold ounces produced ²
Salobo	61,622	71,778	69,045	54,804	43,677	37,939	44,212	34,129
Sudbury ³	7,049	5,823	3,857	5,818	6,203	5,270	3,437	5,289
Constancia	13,897	22,292	19,003	7,444	6,905	10,496	7,196	8,042
San Dimas ⁴	7,542	10,024	9,995	11,166	10,754	10,037	11,808	10,044
Stillwater ⁵	2,637	2,341	2,454	2,017	1,960	2,185	1,833	2,171
Different
Marmato	623	668	673	639	457	533	542	778
777 ⁶	–	–	–	–	–	–	–	3,509
Minto ⁷	–	–	–	1,292	3,063	2,567	3,050	2,480
Whole Different	623	668	673	1,931	3,520	3,100	3,592	6,767
Whole gold ounces produced	93,370	112,926	105,027	83,180	73,019	69,027	72,078	66,442
Silver ounces produced ²
Peñasquito ⁸	2,643	1,036	–	1,744	2,076	1,761	2,017	2,089
Antamina	806	1,030	894	984	872	1,067	1,327	1,330
Constancia	640	836	697	420	552	655	564	584
Different
Los Filos	42	28	28	28	45	14	21	35
Zinkgruvan	641	510	785	374	632	664	642	739
Neves-Corvo	524	573	486	407	436	369	323	345
Aljustrel ⁹	–	–	327	279	343	313	246	292
Cozamin	173	185	165	184	141	157	179	169
Marmato	7	10	11	7	8	9	7	7
Yauliyacu ¹⁰	–	–	–	–	–	261	463	756
Minto ⁷	–	–	–	14	29	33	33	26
Keno Hill ¹¹	–	–	–	–	–	–	–	48
777 ⁶	–	–	–	–	–	–	–	80
Whole Different	1,387	1,306	1,802	1,293	1,634	1,820	1,914	2,497
Whole silver ounces produced	5,476	4,208	3,393	4,441	5,134	5,303	5,822	6,500
Palladium ounces produced ²
Stillwater ⁵	4,463	4,209	4,006	3,880	3,705	3,869	3,229	3,899
Cobalt kilos produced ²
Voisey’s Bay	240	215	183	152	124	128	226	136
GEOs produced ¹²	160,133	164,818	147,230	137,176	134,730	132,780	142,103	144,019
Common payable charge ²
Gold	94.8 %	95.1 %	95.4 %	95.1 %	95.1 %	94.9 %	95.1 %	95.1 %
Silver	84.5 %	83.0 %	78.3 %	83.7 %	83.1 %	84.2 %	86.3 %	86.5 %
Palladium	96.9 %	95.9 %	93.6 %	94.1 %	96.0 %	91.7 %	95.0 %	94.6 %
Cobalt	93.3 %	93.3 %	93.3 %	93.3 %	93.3 %	93.3 %	93.3 %	93.3 %
GEO ¹¹	90.7 %	91.6 %	90.8 %	90.8 %	89.8 %	89.9 %	90.9 %	90.7 %

1)	All figures in hundreds besides gold and palladium ounces produced.
2)	Amount produced signify the quantity of gold, silver, palladium and cobalt contained in focus or doré previous to smelting or refining deductions. Manufacturing figures and payable charges are based mostly on data supplied by the operators of the mining operations to which the mineral stream pursuits relate or administration estimates in these conditions the place different data will not be obtainable. Sure manufacturing figures and payable charges could also be up to date in future intervals as further data is acquired.
3)	Comprised of the Coleman, Copper Cliff, Garson, Creighton and Totten gold pursuits.
4)	Below the phrases of the San Dimas PMPA, the Firm is entitled to an quantity equal to 25% of the payable gold manufacturing plus a further quantity of gold equal to 25% of the payable silver manufacturing transformed to gold at a hard and fast gold to silver alternate ratio of 70:1 from the San Dimas mine. If the typical gold to silver worth ratio decreases to lower than 50:1 or will increase to greater than 90:1 for a interval of 6 months or extra, then the “70” shall be revised to “50” or “90”, because the case could also be, till such time as the typical gold to silver worth ratio is between 50:1 to 90:1 for a interval of 6 months or extra during which occasion the “70” shall be reinstated. For reference, attributable silver manufacturing from prior intervals is as follows: Q1 2024 – 291,000 ounces; This autumn 2023 – 378,000 ounces; Q3 2023 – 387,000 ounces; Q2 2023 – 423,000 ounces; Q1 2023 – 401,000 ounces; This autumn 2022 – 348,000 ounces; Q3 2022 – 412,000 ounces; Q2 2022 – 382,000 ounces.
5)	Comprised of the Stillwater and East Boulder gold and palladium pursuits.
6)	On June 22, 2022, Hudbay introduced that mining actions at 777 have concluded and closure actions have commenced.
7)	On Might 13, 2023, Minto Metals Corp. introduced the suspension of operations on the Minto mine.
8)	There was a short lived suspension of operations at Peñasquito as a consequence of a labour strike which ran from June 7, 2023 to October 13, 2023.
9)	On September 12, 2023, it was introduced that the manufacturing of the zinc and lead concentrates on the Aljustrel mine will probably be halted from September 24, 2023 till the second quarter of 2025.
10)	On December 14, 2022 the Firm terminated the Yauliyacu PMPA in alternate for a money cost of $132 million.
11)	On September 7, 2022, the Firm terminated the Keno Hill PMPA in alternate for $141 million of Hecla frequent inventory.
12)	GEOs, that are supplied to help the reader, are based mostly on the next commodity worth assumptions: $2,000 per ounce gold; $23.00 per ounce silver; $1,000 per ounce palladium; and $13.00 per pound cobalt; in keeping with these utilized in estimating the Firm’s manufacturing steering for 2024.

Abstract of Items Bought

	Q1 2024	This autumn 2023	Q3 2023	Q2 2023	Q1 2023	This autumn 2022	Q3 2022	Q2 2022
Gold ounces offered
Salobo	56,841	76,656	44,444	46,030	35,966	41,029	31,818	48,515
Sudbury ²	4,129	5,011	4,836	4,775	4,368	4,988	5,147	7,916
Constancia	20,123	19,925	12,399	9,619	6,579	6,013	6,336	7,431
San Dimas	7,933	10,472	9,695	11,354	10,651	10,943	10,196	10,633
Stillwater ³	2,355	2,314	1,985	2,195	2,094	1,783	2,127	2,626
Different
Marmato	638	633	792	467	480	473	719	781
777	–	–	275	153	126	785	3,098	3,629
Minto	–	–	–	701	2,341	2,982	2,559	2,806
Whole Different	638	633	1,067	1,321	2,947	4,240	6,376	7,216
Whole gold ounces offered	92,019	115,011	74,426	75,294	62,605	68,996	62,000	84,337
Silver ounces offered
Peñasquito	1,839	442	453	1,913	1,483	2,066	1,599	2,096
Antamina	762	1,091	794	963	814	1,114	1,155	1,177
Constancia	726	665	435	674	366	403	498	494
Different
Los Filos	44	24	30	37	34	16	24	41
Zinkgruvan	297	449	714	370	520	547	376	650
Neves-Corvo	243	268	245	132	171	80	105	167
Aljustrel	1	86	142	182	205	156	185	123
Cozamin	147	141	139	150	119	150	154	148
Marmato	8	9	11	7	7	7	8	11
Yauliyacu	–	–	–	–	–	337	1,005	817
Stratoni	–	–	–	–	–	–	–	(2)
Minto	–	–	–	7	29	23	22	21
Keno Hill	–	–	–	–	1	1	30	30
777	–	–	2	2	–	35	73	75
Whole Different	740	977	1,283	887	1,086	1,352	1,982	2,081
Whole silver ounces offered	4,067	3,175	2,965	4,437	3,749	4,935	5,234	5,848
Palladium ounces offered
Stillwater ³	4,774	3,339	4,242	3,392	2,946	3,396	4,227	3,378
Cobalt kilos offered
Voisey’s Bay	309	288	198	265	323	187	115	225
GEOs offered ⁴	143,184	155,059	111,935	129,734	109,293	128,662	125,053	154,737
Cumulative payable items PBND ⁵
Gold ounces	87,542	91,092	98,715	72,916	77,377	70,562	74,053	67,529
Silver ounces	2,347	1,787	1,469	1,777	2,531	2,013	2,481	2,694
Palladium ounces	6,198	6,666	5,607	6,122	5,751	5,098	5,041	6,267
Cobalt kilos	360	356	377	251	285	258	403	280
GEO ⁴	119,968	117,293	120,864	98,039	111,216	97,934	107,718	103,465
Stock on hand
Cobalt kilos	–	88	155	310	398	633	556	582

1)	All figures in hundreds besides gold and palladium ounces offered.
2)	Comprised of the Coleman, Copper Cliff, Garson, Creighton and Totten gold pursuits.
3)	Comprised of the Stillwater and East Boulder gold and palladium pursuits.
4)	GEOs, that are supplied to help the reader, are based mostly on the next commodity worth assumptions: $2,000 per ounce gold; $23.00 per ounce silver; $1,000 per ounce palladium; and $13.00 per pound cobalt; in keeping with these utilized in estimating the Firm’s manufacturing steering for 2024.
5)	Payable gold, silver and palladium ounces in addition to cobalt kilos produced however not but delivered (“PBND”) are based mostly on administration estimates. These figures could also be up to date in future intervals as further data is acquired.

Outcomes of Operations

The working outcomes of the Firm’s reportable working segments are summarized within the tables and commentary beneath.

Three Months Ended March 31, 2024
	Items Produced²	Items Bought	Common Realized Worth ($’s Per Unit)		Common Money Value ($’s Per Unit) ³		Common Depletion ($’s Per Unit)		Gross sales		Web Earnings		Money Move From Operations		Whole Belongings
Gold
Salobo	61,622	56,841	$	2,073	$	425	$	393	$	117,851	$	71,396	$	94,050	$	2,659,099
Sudbury ⁴	7,049	4,129		2,049		400		1,145		8,461		2,081		6,814		257,757
Constancia	13,897	20,123		2,073		420		316		41,723		26,910		33,263		73,912
San Dimas	7,542	7,933		2,073		631		279		16,448		9,237		11,445		142,512
Stillwater	2,637	2,355		2,073		372		510		4,883		2,806		4,008		210,267
Different ⁵	623	638		2,073		374		527		1,323		748		1,084		892,983
	93,370	92,019	$	2,072	$	439	$	404	$	190,689	$	113,178	$	150,664	$	4,236,530
Silver
Peñasquito	2,643	1,839	$	23.74	$	4.50	$	4.06	$	43,650	$	27,901	$	35,375	$	268,758
Antamina	806	762		23.74		4.68		7.06		18,088		9,147		14,523		514,154
Constancia	640	726		23.74		6.20		6.24		17,236		8,200		12,734		175,049
Different ⁶	1,387	740		23.89		4.15		4.16		17,684		11,539		15,819		603,933
	5,476	4,067	$	23.77	$	4.77	$	5.03	$	96,658	$	56,787	$	78,451	$	1,561,894
Palladium
Stillwater	4,463	4,774	$	980	$	182	$	445	$	4,677	$	1,683	$	3,808	$	218,542
Platreef	–	–		n.a.		n.a.		n.a.		–		–		–		78,786
	4,463	4,774	$	980	$	182	$	445	$	4,677	$	1,683	$	3,808	$	297,328
Platinum
Marathon	–	–	$	n.a.	$	n.a.	$	n.a.	$	–	$	–	$	–	$	9,451
Platreef	–	–		n.a.		n.a.		n.a.		–		–		–		57,564
	–	–	$	n.a.	$	n.a.	$	n.a.	$	–	$	–	$	–	$	67,015
Cobalt
Voisey’s Bay	240	309	$	15.49	$	2.96	$	12.77	$	4,782	$	(73)	$	7,006	$	348,000
Working outcomes									$	296,806	$	171,575	$	239,929	$	6,510,767
Different
Basic and administrative											$	(10,464)	$	(15,958)
Share based mostly compensation												(1,281)		(11,129)
Donations and group investments												(1,570)		(1,373)
Finance prices												(1,442)		(1,125)
Different												7,196		9,152
Revenue tax												27		(116)
Whole different											$	(7,534)	$	(20,549)	$	669,688
											$	164,041	$	219,380	$	7,180,455

1)	Items of gold, silver and palladium produced and offered are reported in ounces, whereas cobalt is reported in kilos. All figures in hundreds besides gold and palladium ounces produced and offered and per unit quantities.
2)	Amount produced represents the quantity of gold, silver, palladium and cobalt contained in focus or doré previous to smelting or refining deductions. Manufacturing figures are based mostly on data supplied by the operators of the mining operations to which the mineral stream pursuits relate or administration estimates in these conditions the place different data will not be obtainable. Sure manufacturing figures could also be up to date in future intervals as further data is acquired.
3)	Check with dialogue on non-IFRS measure (iii) on the finish of this press launch.
4)	Comprised of the working Coleman, Copper Cliff, Garson, Creighton and Totten gold pursuits and the non-operating Stobie and Victor gold pursuits.
5)	Different gold pursuits comprised of the working Marmato gold curiosity in addition to the non-operating Minto, Copper World, Santo Domingo, Fenix, Blackwater, Curipamba, Marathon, Goose, Cangrejos, Platreef, Curraghinalt and Kudz Ze Kayah gold pursuits.
6)	Different silver pursuits comprised of the working Los Filos, Zinkgruvan, Neves-Corvo, Marmato and Cozamin silver pursuits in addition to the non-operating Stratoni, Aljustrel, Minto, Pascua-Lama, Copper World, Navidad, Blackwater, Curipamba, Mineral Park and Kudz Ze Kayah silver pursuits.

On a gold equal foundation, outcomes for the Firm for the three months ended March 31, 2024 had been as follows:

Three Months Ended March 31, 2024
	Ounces Produced ¹	Ounces Bought	Common Realized Worth ($’s Per Ounce)	Common Money Value ($’s Per Ounce) ²	Money Working Margin ($’s Per Ounce) ³	Common Depletion ($’s Per Ounce)	Gross Margin ($’s Per Ounce)
Gold equal foundation ⁴	160,133	143,184	$ 2,073	$ 430	$ 1,643	$ 445	$ 1,198

1)	Amount produced signify the quantity of gold, silver, palladium and cobalt contained in focus or doré previous to smelting or refining deductions. Manufacturing figures are based mostly on data supplied by the operators of the mining operations to which the mineral stream pursuits relate or administration estimates in these conditions the place different data will not be obtainable. Sure manufacturing figures could also be up to date in future intervals as further data is acquired.
2)	Check with dialogue on non-IFRS measure (iii) on the finish of this press launch.
3)	Check with dialogue on non-IFRS measure (iv) on the finish of this press launch.
4)	GEOs, that are supplied to help the reader, are based mostly on the next commodity worth assumptions: $2,000 per ounce gold; $23.00 per ounce silver; $1,000 per ounce palladium; and $13.00 per pound cobalt; in keeping with these utilized in estimating the Firm’s manufacturing steering for 2024.

Three Months Ended March 31, 2023
	Items Produced²	Items Bought	Common Realized Worth ($’s Per Unit)		Common Money Value ($’s Per Unit) ³		Common Depletion ($’s Per Unit)		Gross sales		Web Earnings		Money Move From Operations		Whole Belongings
Gold
Salobo	43,677	35,966	$	1,904	$	420	$	330	$	68,475	$	41,471	$	53,355	$	2,371,378
Sudbury ⁴	6,203	4,368		1,904		400		1,025		8,317		2,095		6,346		278,941
Constancia	6,905	6,579		1,904		416		316		12,526		7,710		9,788		93,506
San Dimas	10,754	10,651		1,904		624		260		20,279		10,865		13,629		153,101
Stillwater	1,960	2,094		1,904		334		510		3,987		2,220		3,288		214,783
Different ⁵	3,520	2,947		1,904		1,385		86		5,612		1,278		1,155		525,338
	73,019	62,605	$	1,904	$	496	$	360	$	119,196	$	65,639	$	87,561	$	3,637,047
Silver
Peñasquito	2,076	1,483	$	22.84	$	4.43	$	4.06	$	33,872	$	21,276	$	27,303	$	287,647
Antamina	872	814		22.84		4.55		7.06		18,594		9,142		14,888		539,623
Constancia	552	366		22.84		6.14		6.24		8,353		3,825		6,107		190,664
Different ⁶	1,634	1,086		22.87		5.96		2.53		24,859		15,637		20,047		450,412
	5,134	3,749	$	22.85	$	5.07	$	4.48	$	85,678	$	49,880	$	68,345	$	1,468,346
Palladium
Stillwater	3,705	2,946	$	1,607	$	294	$	408	$	4,735	$	2,666	$	3,870	$	225,609
Platinum
Marathon	–	–	$	n.a.	$	n.a.	$	n.a.	$	–	$	–	$	–	$	9,440
Cobalt
Voisey’s Bay	124	323	$	15.04	$	3.30⁷	$	13.85	$	4,856	$	(684)	$	4,485	$	356,447
Working outcomes									$	214,465	$	117,501	$	164,261	$	5,696,889
Different
Basic and administrative											$	(10,099)	$	(13,836)
Share based mostly compensation												(7,397)		(16,675)
Donations and group investments												(1,378)		(1,408)
Finance prices												(1,378)		(1,070)
Different												7,562		7,176
Revenue tax												6,580		(3,344)
Whole different											$	(6,110)	$	(29,157)	$	1,208,590
											$	111,391	$	135,104	$	6,905,479

1)	Items of gold, silver and palladium produced and offered are reported in ounces, whereas cobalt is reported in kilos. All figures in hundreds besides gold and palladium ounces produced and offered and per unit quantities.
2)	Amount produced represents the quantity of gold, silver, palladium and cobalt contained in focus or doré previous to smelting or refining deductions. Manufacturing figures are based mostly on data supplied by the operators of the mining operations to which the mineral stream pursuits relate or administration estimates in these conditions the place different data will not be obtainable. Sure manufacturing figures could also be up to date in future intervals as further data is acquired.
3)	Check with dialogue on non-IFRS measure (iii) on the finish of this press launch.
4)	Comprised of the working Coleman, Copper Cliff, Garson, Creighton and Totten gold pursuits in addition to the non-operating Stobie and Victor gold pursuits.
5)	Different gold pursuits are comprised of the working Minto and Marmato gold pursuits in addition to the non-operating 777, Copper World, Santo Domingo, Fenix, Blackwater, Marathon, Curipamba and Goose gold pursuits. On June 22, 2022, Hudbay introduced that mining actions at 777 have concluded and closure actions have commenced. On Might 13, 2023, Minto introduced the suspension of operations on the Minto mine.
6)	Different silver pursuits comprised of the working Los Filos, Zinkgruvan, Neves-Corvo, Aljustrel, Minto, Cozamin and Marmato silver pursuits, the non-operating Loma de La Plata, Stratoni, Pascua-Lama, Copper World, Blackwater and Curipamba silver pursuits. On June 22, 2022, Hudbay introduced that mining actions at 777 have concluded and closure actions have commenced. On Might 13, 2023, Minto introduced the suspension of operations on the Minto mine. On September 12, 2023, it was introduced that the manufacturing of zinc and lead concentrates at Aljustrel will probably be halted from September 24, 2023 till the second quarter of 2025.
7)	Money price per pound of cobalt offered throughout the first quarter of 2023 was web of a beforehand recorded stock write-down of $1 million, leading to a lower of $3.18 per pound of cobalt offered.

On a gold equal foundation, outcomes for the Firm for the three months ended March 31, 2023 had been as follows:

Three Months Ended March 31, 2023
	Ounces Produced ¹	Ounces Bought	Common Realized Worth ($’s Per Ounce)	Common Money Value ($’s Per Ounce) ²	Money Working Margin ($’s Per Ounce) ³	Common Depletion ($’s Per Ounce)	Gross Margin ($’s Per Ounce)
Gold equal foundation ⁴	134,730	109,293	$ 1,962	$ 475	$ 1,487	$ 412	$ 1,075

1)	Amount produced signify the quantity of gold, silver, palladium and cobalt contained in focus or doré previous to smelting or refining deductions. Manufacturing figures are based mostly on data supplied by the operators of the mining operations to which the mineral stream pursuits relate or administration estimates in these conditions the place different data will not be obtainable. Sure manufacturing figures could also be up to date in future intervals as further data is acquired.
2)	Check with dialogue on non-IFRS measure (iii) on the finish of this press launch.
3)	Check with dialogue on non-IFRS measure (iv) on the finish of this press launch.
4)	GEOs, that are supplied to help the reader, are based mostly on the next commodity worth assumptions: $2,000 per ounce gold; $23.00 per ounce silver; $1,000 per ounce palladium; and $13.00 per pound cobalt; in keeping with these utilized in estimating the Firm’s manufacturing steering for 2024.

Non-IFRS Measures

Wheaton has included, all through this doc, sure non-IFRS efficiency measures, together with (i) adjusted web earnings and adjusted web earnings per share; (ii) working money circulation per share (primary and diluted); (iii) common money prices of gold, silver and palladium on a per ounce foundation and cobalt on a per pound foundation; and (iv) money working margin.

Adjusted web earnings and adjusted web earnings per share are calculated by eradicating the consequences of non-cash impairment prices (reversals) (if any), non-cash truthful worth (features) losses and different one-time (earnings) bills in addition to the reversal of non-cash earnings tax expense (restoration) which is offset by earnings tax expense (restoration) acknowledged within the Statements of Shareholders’ Fairness and OCI, respectively. The Firm believes that, along with typical measures ready in accordance with IFRS, administration and sure traders use this data to guage the Firm’s efficiency.

The next desk gives a reconciliation of adjusted web earnings and adjusted web earnings per share (primary and diluted).

	Three Months Ended March 31
(in hundreds, apart from per share quantities)		2024		2023
Web earnings		$	164,041	$	111,391
Add again (deduct):
(Achieve) loss on truthful worth adjustment of share buy warrants held			(183)		(175)
Revenue tax (expense) restoration acknowledged within the Assertion of OCI			(96)		(3,954)
Revenue tax restoration associated to prior 12 months disposal of Mineral Stream Curiosity			–		(2,672)
Different			(173)		(159)
Adjusted web earnings		$	163,589	$	104,431
Divided by:
Fundamental weighted common variety of shares excellent			453,094		452,370
Diluted weighted common variety of shares excellent			453,666		453,159
Equals:
Adjusted earnings per share – primary		$	0.361	$	0.231
Adjusted earnings per share – diluted		$	0.361	$	0.230

ii.

Working money circulation per share (primary and diluted) is calculated by dividing money generated by working actions by the weighted common variety of shares excellent (primary and diluted). The Firm presents working money circulation per share as administration and sure traders use this data to guage the Firm’s efficiency compared to different firms within the valuable steel mining trade who current outcomes on an identical foundation.

The next desk gives a reconciliation of working money circulation per share (primary and diluted).

	Three Months Ended March 31
(in hundreds, apart from per share quantities)		2024		2023
Money generated by working actions		$	219,380	$	135,104
Divided by:
Fundamental weighted common variety of shares excellent			453,094		452,370
Diluted weighted common variety of shares excellent			453,666		453,159
Equals:
Working money circulation per share – primary		$	0.484	$	0.299
Working money circulation per share – diluted		$	0.484	$	0.298

iii.

Common money price of gold, silver and palladium on a per ounce foundation and cobalt on a per pound foundation is calculated by dividing the full price of gross sales, much less depletion, by the ounces or kilos offered. Within the valuable steel mining trade, this can be a frequent efficiency measure however doesn’t have any standardized which means prescribed by IFRS. Along with typical measures ready in accordance with IFRS, administration and sure traders use this data to guage the Firm’s efficiency and talent to generate money circulation.

The next desk gives a calculation of common money price of gold, silver and palladium on a per ounce foundation and cobalt on a per pound foundation.

	Three Months Ended March 31
(in hundreds, apart from gold and palladium ounces offered and per unit quantities)		2024		2023
Value of gross sales		$	125,231	$	96,964
Much less: depletion			(63,676)		(45,000)
Money price of gross sales		$	61,555	$	51,964
Money price of gross sales is comprised of:
Whole money price of gold offered		$	40,362	$	31,035
Whole money price of silver offered			19,411		18,997
Whole money price of palladium offered			869		866
Whole money price of cobalt sold¹			913		1,066
Whole money price of gross sales		$	61,555	$	51,964
Divided by:
Whole gold ounces offered			92,019		62,605
Whole silver ounces offered			4,067		3,749
Whole palladium ounces offered			4,774		2,946
Whole cobalt kilos offered			309		323
Equals:
Common money price of gold (per ounce)		$	439	$	496
Common money price of silver (per ounce)		$	4.77	$	5.07
Common money price of palladium (per ounce)		$	182	$	294
Common money price of cobalt (per pound)		$	2.96	$	3.30

1)	Money price per pound of cobalt offered throughout the first quarter of 2023 was web of a beforehand recorded stock write-down of $1 million, leading to a lower of $3.18 per pound of cobalt offered.


iv.	Money working margin is calculated by including again depletion to the gross margin. Money working margin on a per ounce or per pound foundation is calculated by dividing the money working margin by the variety of ounces or kilos offered throughout the interval. The Firm presents money working margin as administration and sure traders use this data to guage the Firm’s efficiency compared to different firms within the valuable steel mining trade who current outcomes on an identical foundation in addition to to guage the Firm’s skill to generate money circulation.

The next desk gives a reconciliation of money working margin.

	Three Months Ended March 31
(in hundreds, apart from gold and palladium ounces offered and per unit quantities)		2024		2023
Gross margin		$	171,575	$	117,501
Add again: depletion			63,676		45,000
Money working margin		$	235,251	$	162,501
Money working margin is comprised of:
Whole money working margin of gold offered		$	150,327	$	88,161
Whole money working margin of silver offered			77,247		66,681
Whole money working margin of palladium offered			3,808		3,869
Whole money working margin of cobalt offered			3,869		3,790
Whole money working margin		$	235,251	$	162,501
Divided by:
Whole gold ounces offered			92,019		62,605
Whole silver ounces offered			4,067		3,749
Whole palladium ounces offered			4,774		2,946
Whole cobalt kilos offered			309		323
Equals:
Money working margin per gold ounce offered		$	1,633	$	1,408
Money working margin per silver ounce offered		$	19.00	$	17.78
Money working margin per palladium ounce offered		$	798	$	1,313
Money working margin per cobalt pound offered		$	12.53	$	11.74

These non-IFRS measures shouldn’t have any standardized which means prescribed by IFRS, and different firms could calculate these measures in another way. The presentation of those non-IFRS measures is meant to supply further data and shouldn’t be thought of in isolation or as an alternative choice to measures of efficiency ready in accordance with IFRS. For extra detailed data, please consult with Wheaton’s MD&A obtainable on the Firm’s web site at www.wheatonpm.com and posted on SEDAR+ at www.sedarplus.ca .

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press launch accommodates “forward-looking statements” inside the which means of the USA Personal Securities Litigation Reform Act of 1995 and “forward-looking data” inside the which means of relevant Canadian securities laws regarding the enterprise, operations and monetary efficiency of Wheaton and, in some cases, the enterprise, mining operations and efficiency of Wheaton’s PMPA counterparties. Ahead-looking statements, that are all statements apart from statements of historic truth, embody, however aren’t restricted to, statements with respect to:

the long run worth of commodities;
the estimation of future manufacturing from the mineral stream pursuits and mineral royalty pursuits at the moment owned by the Firm (the “Mining Operations”) (together with within the estimation of manufacturing, mill throughput, grades, recoveries and exploration potential);
the estimation of mineral reserves and mineral assets (together with the estimation of reserve conversion charges and the belief of such estimations);
the graduation, timing and achievement of development, enlargement or enchancment tasks by Wheaton’s PMPA counterparties at Mining Operations;
the cost of upfront money consideration to counterparties beneath PMPAs, the satisfaction of every celebration’s obligations in accordance with PMPAs and the receipt by the Firm of valuable metals and cobalt manufacturing or different funds in respect of the relevant Mining Operations beneath PMPAs;
the power of Wheaton’s PMPA counterparties to adjust to the phrases of a PMPA (together with because of the enterprise, mining operations and efficiency of Wheaton’s PMPA counterparties) and the potential impacts of such on Wheaton;
future funds by the Firm in accordance with PMPAs, together with any acceleration of funds;
the prices of future manufacturing;
the estimation of produced however not but delivered ounces;
the long run gross sales of Frequent Shares beneath, the quantity of web proceeds from, and the usage of the online proceeds from, the at-the-market fairness program;
continued itemizing of the Frequent Shares on the LSE, NYSE and TSX;
any statements as to future dividends;
the power to fund excellent commitments and the power to proceed to accumulate accretive PMPAs;
projected will increase to Wheaton’s manufacturing and money circulation profile;
projected adjustments to Wheaton’s manufacturing combine;
the power of Wheaton’s PMPA counterparties to adjust to the phrases of another obligations beneath agreements with the Firm;
the power to promote valuable metals and cobalt manufacturing;
confidence within the Firm’s enterprise construction;
the Firm’s evaluation of taxes payable, together with the implementation of a 15% world minimal tax, and the affect of the CRA Settlement;
potential CRA home audits for taxation years subsequent to 2016 and worldwide audits;
the Firm’s evaluation of the affect of any tax reassessments;
the Firm’s intention to file future tax returns in a fashion in keeping with the CRA Settlement;
the Firm’s local weather change and environmental commitments; and
assessments of the affect and backbone of varied authorized and tax issues, together with however not restricted to audits.

Usually, these forward-looking statements may be recognized by way of forward-looking terminology similar to “plans”, “expects” or “doesn’t count on”, “is predicted”, “finances”, “scheduled”, “estimates”, “forecasts”, “tasks”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, “potential”, or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “could”, “might”, “would”, “may” or “will probably be taken”, “happen” or “be achieved”. Ahead-looking statements are topic to identified and unknown dangers, uncertainties and different components which will trigger the precise outcomes, degree of exercise, efficiency or achievements of Wheaton to be materially completely different from these expressed or implied by such forward-looking statements, together with however not restricted to:

dangers related to fluctuations within the worth of commodities (together with Wheaton’s skill to promote its valuable metals or cobalt manufacturing at acceptable costs or in any respect);
dangers associated to the Mining Operations (together with fluctuations within the worth of the first or different commodities mined at such operations, regulatory, political and different dangers of the jurisdictions during which the Mining Operations are positioned, precise outcomes of mining, dangers related to exploration, improvement, working, enlargement and enchancment on the Mining Operations, environmental and financial dangers of the Mining Operations, and adjustments in mission parameters as Mining Operations plans proceed to be refined);
absence of management over the Mining Operations and having to depend on the accuracy of the general public disclosure and different data Wheaton receives from the homeowners and operators of the Mining Operations as the premise for its analyses, forecasts and assessments regarding its personal enterprise;
dangers associated to the uncertainty within the accuracy of mineral reserve and mineral useful resource estimation;
dangers associated to the satisfaction of every celebration’s obligations in accordance with the phrases of the Firm’s PMPAs, together with the power of the businesses with which the Firm has PMPAs to carry out their obligations beneath these PMPAs within the occasion of a fabric antagonistic impact on the outcomes of operations, monetary situation, money flows or enterprise of such firms, any acceleration of funds, estimated throughput and exploration potential;
dangers regarding manufacturing estimates from Mining Operations, together with anticipated timing of the graduation of manufacturing by sure Mining Operations;
Wheaton’s interpretation of, or compliance with, or utility of, tax legal guidelines and rules or accounting insurance policies and guidelines, being discovered to be incorrect or the tax affect to the Firm’s enterprise operations being materially completely different than at the moment contemplated;
any problem or reassessment by the CRA of the Firm’s tax filings being profitable and the potential detrimental affect to the Firm’s earlier and future tax filings;
dangers in assessing the affect of the CRA Settlement (together with whether or not there will probably be any materials change within the Firm’s information or change in regulation or jurisprudence);
dangers associated to any potential amendments to Canada’s switch pricing guidelines beneath the Revenue Tax Act ( Canada ) which will consequence from the Division of Finance’s session paper launched June 6, 2023 ;
dangers regarding the implementation of a 15% world minimal tax, together with the Federal finances invoice, C-69, which accommodates the GMTA reflecting utility of worldwide minimal tax to in-scope firms for fiscal years starting on or after December 31, 2023 and the laws enacted in Luxembourg that applies to the earnings of the Firm’s Luxembourg subsidiary as of January 1, 2024 and the Firm and its different subsidiaries from January 1, 2025 ;
counterparty credit score and liquidity dangers;
mine operator and counterparty focus dangers;
indebtedness and ensures dangers;
hedging danger;
competitors within the streaming trade danger;
dangers regarding safety over underlying belongings;
dangers regarding third-party PMPAs;
dangers regarding income from royalty pursuits;
dangers associated to Wheaton’s acquisition technique;
dangers regarding third-party rights beneath PMPAs;
dangers regarding future financings and safety issuances;
dangers regarding unknown defects and impairments;
dangers associated to governmental rules;
dangers associated to worldwide operations of Wheaton and the Mining Operations;
dangers regarding exploration, improvement, working, expansions and enhancements on the Mining Operations;
dangers associated to environmental rules;
the power of Wheaton and the Mining Operations to acquire and keep vital licenses, permits, approvals and rulings;
the power of Wheaton and the Mining Operations to adjust to relevant legal guidelines, rules and allowing necessities;
lack of appropriate provides, infrastructure and staff to help the Mining Operations;
dangers associated to underinsured Mining Operations;
incapability to exchange and increase mineral reserves, together with anticipated timing of the graduation of manufacturing by sure Mining Operations (together with will increase in manufacturing, estimated grades and recoveries);
uncertainties associated to title and indigenous rights with respect to the mineral properties of the Mining Operations;
the power of Wheaton and the Mining Operations to acquire sufficient financing;
the power of the Mining Operations to finish allowing, development, improvement and enlargement;
challenges associated to world monetary situations;
dangers related to environmental, social and governance issues;
dangers associated to fluctuations in commodity costs of metals produced from the Mining Operations apart from valuable metals or cobalt;
dangers associated to claims and authorized proceedings in opposition to Wheaton or the Mining Operations;
dangers associated to the market worth of the Frequent Shares of Wheaton;
the power of Wheaton and the Mining Operations to retain key administration staff or procure the companies of expert and skilled personnel;
dangers associated to rates of interest;
dangers associated to the declaration, timing and cost of dividends;
dangers associated to entry to confidential data concerning Mining Operations;
dangers related to a number of listings of the Frequent Shares on the LSE, NYSE and TSX;
dangers related to a potential suspension of buying and selling of Frequent Shares;
dangers related to the sale of Frequent Shares beneath the at-the-market fairness program, together with the quantity of any web proceeds from such providing of Frequent Shares and the usage of any such proceeds;
fairness worth dangers associated to Wheaton’s holding of lengthy‑time period investments in different firms;
dangers regarding activist shareholders;
dangers regarding reputational injury;
dangers regarding expression of views by trade analysts;
dangers associated to the impacts of local weather change and the transition to a low-carbon economic system;
dangers related to the power to realize local weather change and environmental commitments at Wheaton and on the Mining Operations;
dangers associated to making sure the safety and security of knowledge programs, together with cyber safety dangers;
dangers regarding generative synthetic intelligence;
dangers regarding compliance with anti-corruption and anti-bribery legal guidelines;
dangers regarding company governance and public disclosure compliance;
dangers of serious impacts on Wheaton or the Mining Operations because of an epidemic or pandemic;
dangers associated to the adequacy of inside management over monetary reporting; and
different dangers mentioned within the part entitled “Description of the Enterprise – Threat Components” in Wheaton’s Annual Info Kind obtainable on SEDAR+ at www.sedarplus.ca and Wheaton’s Kind 40-F for the 12 months ended December 31, 2022 on file with the U.S. Securities and Trade Fee on EDGAR (the “Disclosure”).

Ahead-looking statements are based mostly on assumptions administration at the moment believes to be cheap, together with (with out limitation):

that there will probably be no materials antagonistic change available in the market worth of commodities;
that the Mining Operations will proceed to function and the mining tasks will probably be accomplished in accordance with public statements and obtain their said manufacturing estimates;
that the mineral reserves and mineral useful resource estimates from Mining Operations (together with reserve conversion charges) are correct;
that public disclosure and different data Wheaton receives from the homeowners and operators of the Mining Operations is correct and full;
that the manufacturing estimates from Mining Operations are correct;
that every celebration will fulfill their obligations in accordance with the PMPAs;
that Wheaton will proceed to have the ability to fund or receive funding for excellent commitments;
that Wheaton will be capable of supply and acquire accretive PMPAs;
that the phrases and situations of a PMPA are ample to recuperate liabilities owed to the Firm;
that Wheaton has totally thought of the worth and affect of any third-party pursuits in PMPAs;
that expectations concerning the decision of authorized and tax issues will probably be achieved (together with CRA audits involving the Firm);
that Wheaton has correctly thought of the applying of Canadian tax legal guidelines to its construction and operations;
that Wheaton has filed its tax returns and paid relevant taxes in compliance with Canadian tax legal guidelines;
that Wheaton’s utility of the CRA Settlement is correct (together with the Firm’s evaluation that there was no materials change within the Firm’s information or change in regulation or jurisprudence);
that Wheaton’s evaluation of the tax publicity and affect on the Firm and its subsidiaries of the implementation of a 15% world minimal tax is correct;
that any sale of Frequent Shares beneath the at-the-market fairness program is not going to have a big affect in the marketplace worth of the Frequent Shares and that the online proceeds of gross sales of Frequent Shares, if any, will probably be used as anticipated;
that the buying and selling of the Frequent Shares is not going to be adversely affected by the variations in liquidity, settlement and clearing programs because of a number of listings of the Frequent Shares on the LSE, the TSX and the NYSE;
that the buying and selling of the Firm’s Frequent Shares is not going to be suspended;
the estimate of the recoverable quantity for any PMPA with an indicator of impairment;
that neither Wheaton nor the Mining Operations will endure vital impacts because of an epidemic or pandemic; and
such different assumptions and components as set out within the Disclosure.

There may be no assurance that forward-looking statements will show to be correct and even when occasions or outcomes described within the forward-looking statements are realized or considerably realized, there may be no assurance that they’ll have the anticipated penalties to, or results on, Wheaton. Readers shouldn’t place undue reliance on forward-looking statements and are cautioned that precise outcomes could differ. The forward-looking statements included herein are for the aim of offering readers with data to help them in understanding Wheaton’s anticipated monetary and operational efficiency and is probably not acceptable for different functions. Any forward-looking assertion speaks solely as of the date on which it’s made, displays Wheaton’s administration’s present beliefs based mostly on present data and won’t be up to date besides in accordance with relevant securities legal guidelines. Though Wheaton has tried to establish vital components that might trigger precise outcomes, degree of exercise, efficiency or achievements to vary materially from these contained in ahead‑wanting statements, there could also be different components that trigger outcomes, degree of exercise, efficiency or achievements to not be as anticipated, estimated or meant.

Cautionary Language Concerning Reserves and Sources

For additional data on Mineral Reserves and Mineral Sources and on Wheaton extra usually, readers ought to consult with Wheaton’s Annual Info Kind for the 12 months ended December 31, 2023 , which was filed on March 28, 2024 and different steady disclosure paperwork filed by Wheaton since January 1, 2024 , obtainable on SEDAR+ at www.sedarplus.ca . Wheaton’s Mineral Reserves and Mineral Sources are topic to the {qualifications} and notes set forth therein. Mineral Sources, which aren’t Mineral Reserves, shouldn’t have demonstrated financial viability.

Cautionary Word to United States Buyers Regarding Estimates of Measured, Indicated and Inferred Sources: The knowledge contained herein has been ready in accordance with the necessities of the securities legal guidelines in impact in Canada , which differ from the necessities of United States securities legal guidelines. The Firm stories data concerning mineral properties, mineralization and estimates of mineral reserves and mineral assets in accordance with Canadian reporting necessities that are ruled by, and make the most of definitions required by, Canadian Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Requirements on Mineral Sources and Mineral Reserves, adopted by the CIM Council, as amended (the “CIM Requirements”). These definitions differ from the definitions adopted by the USA Securities and Trade Fee (“SEC”) beneath the USA Securities Act of 1933, as amended (the “Securities Act”) that are relevant to U.S. firms. Accordingly, there is no such thing as a assurance any mineral reserves or mineral assets that the Firm could report as “confirmed mineral reserves”, “possible mineral reserves”, “measured mineral assets”, “indicated mineral assets” and “inferred mineral assets” beneath NI 43-101 can be the identical had the Firm ready the reserve or useful resource estimates beneath the requirements adopted by the SEC. Accordingly, data contained herein that describes Wheaton’s mineral deposits is probably not similar to comparable data made public by U.S. firms topic to reporting and disclosure necessities beneath the USA federal securities legal guidelines and the foundations and rules thereunder. United States traders are urged to think about carefully the disclosure in Wheaton’s Kind 40-F, a replica of which can be obtained from Wheaton or from https://www.sec.gov/edgar.shtml .

Finish Notes

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1 Please consult with disclosure on non-IFRS measures on this press launch. Dividends declared within the referenced calendar quarter, relative to the monetary outcomes of the prior quarter. Particulars of the dividend may be discovered within the Wheaton’s information launch dated Might 9, 2024, titled “Wheaton Treasured Metals Declares Quarterly Dividend.”

2 Statements made on this part comprise forward-looking data with respect to forecast manufacturing, manufacturing progress, funding excellent commitments, persevering with to accumulate accretive mineral stream pursuits and the graduation, timing and achievement of development, enlargement or enchancment tasks and readers are cautioned that precise outcomes could differ. Please see “Cautionary Word Concerning Ahead-Trying Statements” for materials dangers, assumptions and vital disclosure related to this data.

³ Gold equal forecast manufacturing for 2024 and the longer-term outlook are based mostly on the next commodity worth assumptions: $2,000 per ounce gold, $23 per ounce silver, $1,000 per ounce palladium, $950 per ounce of platinum and $13.00 per pound cobalt.

⁴ Supply: Firm stories & S and P Capital IQ estimates of 2024 byproduct price curves for gold, zinc/lead, copper, PGM, nickel & silver mines. Portfolio mine life based mostly on recoverable reserves and assets as of Dec 31, 2022 and 2022 precise mill throughput and is weighted by particular person reserve and useful resource class.

⁵ Whole streaming and royalty agreements relate to valuable metals buy agreements for the acquisition of valuable metals and cobalt regarding 18 mining belongings that are at the moment working, 23 that are at numerous phases of improvement and 4 of which have been positioned in care and upkeep or have been closed.

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