Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

*** Gold related post (WHT) ***

G'morning Sam,
This won't hurt the "cause" either.... <vbg>

Btw, Wheaton River is presenting today (10:45AM Zulu) at the 2004 Denver Gold Forum. The webcast will be archived at the site linked below, but if you wish to listen in 'live', you can register here. #msg-4151532


Wheaton Receives US$86 Million Cash Distribution From Alumbrera

Wednesday September 29, 6:00 am ET

VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 29, 2004--Wheaton River Minerals Ltd. ("Wheaton") (AMEX:WHT - News; TSX:WRM - News) is pleased to announce that it has received a US$86 million cash distribution from Alumbrera. Since March, 2003, the initial acquisition date of Wheaton's interest in Alumbrera, Wheaton has received cash distributions totalling US$132 million. In addition, Wheaton's share of the Alumbrera project debt, US$91 million, has been repaid, giving a total cash return of US$223 million.

"This represents an 83% return on Wheaton's investment in Alumbrera of US$270 million, in a period of 18 months," said Ian Telfer, Chairman and CEO of Wheaton. "By any measure, this represents a phenomenal return."

Alumbrera is now debt free and all cashflows will be available for distribution to its shareholders.

Wheaton is a leading gold producer and expects 2006 production from all of its mines to increase to approximately 900,000 gold equivalent ounces at a total cash cost of less than US$100 per ounce. Current production exceeds 500,000 gold equivalent ounces (over 400,000 ounces of gold and 7 million ounces of silver) at a total cash cost of less than US$50 per ounce.

http://biz.yahoo.com/bw/040929/295244_1.html