KITCO NEWS – Silver Wheaton CEO Randy Smallwood says his company is sitting on the world’s best half-built gold mine, referring to his deal with Barrick Gold at the Pascual-Lama mine in Chile. However, the delayed project has got analysts and investors wondering if this may be a curse for the silver streamer. “It’s not an Albatross for us, we get about 2-2.5 million ounces of silver at $3.90 an ounce,” he told Kitco News at the Mines & Money event in Toronto. “That is definitely offsetting our cost for being delayed, it is the best half-built gold mines in the world and will be the best gold mine in the world.” Smallwood also said he plans to make more deals in the junior mining sector given that a lot of junior miners are still looking for sources of capital. “Early deposit structure agreements gives us good long-term growth opportunity on some very promising projects,” he said. As for his projections for gold and silver, he said he will closely be watching the U.S. presidential election instead of focusing so much attention on the Fed. “I almost wish there would be a rate hike so we can stop talking about it,” he said. “I would like to get it behind us.”
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