Silver Wheaton Corp (NYSE:SLW) reported Q4 EPS of $0.35 yesterday, beating consensus estimates of $0.31 per share. Revenues for the quarter were up 65% year-over-year, to $149.6 million, below consensus estimates of $154.9 million.
The Company estimates, based upon its current agreements, to have 2011 attributable production of 27 to 28 million silver equivalent ounces, including 15,000 ounces of gold. This represents a 15% increase compared to 2010.
Peter Barnes, Chief Executive Officer of Silver Wheaton, said, "2010 was a tremendously successful year, with the Company setting new records on all financial and operating metrics. In just six years, Silver Wheaton has grown its market capitalization to in excess of US$15 billion, and has more silver reserves than any silver company in the world. We were especially pleased that the production ramp up at the first of our cornerstone assets, Goldcorp's world-class Penasquito mine in Mexico, exceeded expectations and contributed to Silver Wheaton's peer-leading 37% annual production growth. This was particularly timely as silver prices climbed to 30 year highs which resulted in record quarterly and annual results."
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