Despite reporting record production and sales for the three months ended December 31, NYSE- and TSX-listed precious metals streamer Silver Wheaton reported a net loss of $169.3-million, or $0.42 a share for the three months ended December 31, compared with net earnings of $52-million, or $0.14 a share in the comparable period of 2014.
The Vancouver-based company, which made upfront payments in return for the right to purchase a fixed percentage of the future silver and/or gold output from mines, advised that the reason for this was mainly related to asset impairment charges of $230.9-million linked to its Barrick and Keno Hill silver interests, its 777 silver and gold interest and its Sudbury gold interest.
