Silver Wheaton Corporation: Update 05 August 2006

Isn’t it just terrific to be in the middle of this reporting season and see Silver Wheaton generate Second Quarter Earnings of US$25 Million, a jump of 274%. Where else can you read such pleasurable reports?

Vancouver based Silver Wheaton Corporation is going from strength to strength and in our humble opinion should form at least a small part of anyone’s investment portfolio.

If you think, as we do that silver is about to outperform the other precious metals be aware that Silver Wheaton is the only public mining company with 100% of its revenue coming from silver production. As a pure silver play it is as pure as you can get and as silver prices head north so will this mining stock.

The future expectations are for sales to reach about 15 million ounces in 2006, increasing to 20 million ounces by 2009 and thereafter.

Maybe we shouldn’t get so excited about this company but we do prefer unhedged miners, which are totally exposed to silver prices, and Silver Wheaton is just that.

This stock trades under the symbol of SLW on the TSX and on NYSE.

05 August 2006