Wheaton Precious Metals announces a US$670M gold stream and a US$150M cost overrun facility with Waterton Gold Corp.

On November 6, 2025, Wheaton Precious Metals International Ltd. ("Wheaton") entered into a US$670 million gold stream and a US$150 million cost overrun facility with Waterton Gold Corp. (“Waterton”) for the Spring Valley Project in Nevada (“Spring Valley”). The transaction adds a high-quality, long-life gold asset to Wheaton’s portfolio, supporting its strategy of sustainable, low-risk growth. Under the gold stream, Wheaton will make upfront and ongoing payments in exchange for a portion of the gold produced at Spring Valley. Under the cost overrun facility, Wheaton will make a term loan of up to US$150 million available to Waterton during an availability period that commences once the full upfront consideration has been paid under the gold stream. 

McCarthy Tétrault LLP advised Wheaton with a team that was led by Roger Taplin and Jenna Clark and included Matthew Yensen and Adam Berk.