VANCOUVER (miningweekly.com) – Following its annual general meeting on Wednesday, shareholders elected to change the name of the pioneer of the precious metals streaming model, Silver Wheaton, to Wheaton Precious Metals.
The change of name is effective immediately, and the company’s wholly owned subsidiary, Silver Wheaton (Caymans), where it takes delivery of precious metals in return for providing upfront capital, will change its name to Wheaton Precious Metals International.
"Changing our name to Wheaton Precious Metals marks our evolution from a pure silver streaming company to a diversified precious metals streaming company. Since 2004, the company has focused on building the best portfolio of precious metals streams underpinned by low-cost mining operations.
“Starting in 2013, the opportunities have been more focused on gold, and thus, our portfolio is now relatively balanced between silver and gold. We are excited about this new identity, which better reflects our underlying operations and still respects our history," president and CEO Randy Smallwood said in a statement Wednesday.
It is expected that the company will start trading under the symbol ‘WPM’ on the TSX and NYSE on May 16.