In its most recent quarterly earnings report (Q2 2015), Silver Wheaton reported record attributable silver equivalent production of 10.9 million oz (7.2 million oz of silver and 50,500 oz of gold), compared with 8.5 million oz in Q2 2014, representing an increase of 29%. During the same period, the company sold 10 million Ag eq oz (5.6 million oz of silver and 61,000 oz of gold), compared with 7.5 million oz in Q2 2014, representing an increase of 34%. During the three-month period ending June 30, payable silver equivalent ounces attributable to the company produced but not yet delivered were virtually unchanged at approximately 6.5 million oz. The average realized sale price per Ag eq oz for Q2 2015 declined to $16.38 ($16.42/oz of silver and $1,195/oz of gold), compared with $19.83 in Q2 2014, representing a decrease of 17%. Average cash costs in Q2 2015 were $4.26/oz and $395/oz of silver and gold, respectively. On a silver equivalent basis, average cash costs increased to $4.76 compared with $4.72 in Q2 2014.
In the second quarter of 2015, Salobo produced 27,805 oz of gold attributable to Silver Wheaton, an increase of approximately 230% relative to the second quarter of 2014. Attributable production to Silver Wheaton from Constancia in the second quarter was approximately 600,000 oz of silver and 3,510 oz of gold. The Peñasquito mine produced 1.9 million oz of silver attributable to Silver Wheaton in the second quarter, a decrease of approximately 6% relative to the record second quarter of 2014 due to lower grades being mined. Attributable production from San Dimas was 1.8 million oz of silver, an increase of approximately 60% relative to the second quarter of 2014. Attributable silver production from Barrick was 600,000 oz, an increase of approximately 104% relative to the second quarter of 2014, primarily due to higher grades at the Veladero mine and higher recoveries at the Lagunas Norte mine.
In the second quarter of 2015, attributable gold production from Hudbay’s 777 mine was 6,668 oz, a decrease of approximately 43% relative to the second quarter of 2014 primarily due to lower throughput and grades.
