Gold Wheaton Gold Corp. (TSX VENTURE:GLW) today announced that Gold Wheaton Corporation ,a 100% owned subsidiary, has signed a definitive agreement with First Uranium Corporation (TSX:FIU)(JSE:FUM) and its subsidiary Ezulwini Mining Company Limited.
The press release is quoted as saying:
Under the terms of the Transaction, Gold Wheaton will pay First Uranium US$50 million on closing and will make an ongoing payment equal to the lesser of US$400 per delivered ounce and the prevailing spot price of gold, subject to an annual inflation adjustment of one percent, starting on the fourth anniversary of closing. Gold Wheaton will not be required to contribute to any capital or exploration expenditures in respect of the Ezulwini Mine.
