Silver Wheaton reports record performance

Friday, March 5, 2010
Production, as well as demand, for silver has remained strong in recent months.
- By John March
A prominent silver mining company has reported a significant improvement in its latest earnings statement.

According to Silver Wheaton, its results for the fourth quarter of 2009 included record-breaking production levels, as well as sales and earnings. The company said that it earned 15 cents per share on net earnings of $50.8 million, while the comparable period in 2008 saw a net loss of $54.2 million.

"2009 was a transformational year for Silver Wheaton. With the completion of some of our best acquisitions to date, we successfully raised our industry-leading production growth profile to a new level and laid the groundwork for continued strong organic growth long into the future," said Silver Wheaton CEO Peter Barnes.

Barnes also noted that the company's production of 17.4 million silver equivalent ounces for 2009 was a record that marked a 46 percent increase over the previous year's figures.

Looking ahead, a good reason to consult with silver and gold dealers is the improved manufacturing outlook being seen in developing countries like India and China. Silver has a wide range of industrial applications, including for certain automotive parts, which make it likely to remain a strong investment in the coming years regardless of which direction the overall economy goes.


John March is the Chief Technical Officer for the Superior Gold Group, his financial insights on precious metals are sought after by Gold & Silver Dealers globally.

If you have any questions about how to buy gold coins, and want to learn how to grow your portfolio call 888.374.4032 or write to askjohn@gold101.com.
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