Desperate Glencore Sells Some Silver Production Forward At 20% of Spot To Raise $900 Million

“The deal includes Silver Wheaton Corp. paying 20 percent of the spot price per delivered ounce, the Vancouver-based company said in a statement Tuesday.  Silver Wheaton will receive an amount equal to 34 percent of silver production at the Antamina mine in Peru until the delivery of 140 million ounces and the equivalent of 23 percent of silver production thereafter, Baar, Switzerland-based Glencore said in a statement.” — Good news for SLW shareholders here…