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Why Silver Wheaton Corp. Dropped 11% on Tuesday

On Tuesday Silver Wheaton Corp. (TSX:SLW)(NYSE:SLW) dropped from the previous day’s close of $22 to $19.70, a whopping 11%. What caused the drop? The Canadian Revenue Agency (CRA) is proposing to reassess Silver Wheaton relating to income earned by the company’s foreign subsidiaries outside of Canada. The CRA thinks the tax should be increased for the 2005-10 taxation years.

Although Silver Wheaton is not required to pay anything right now, the estimated increased amount is a scary $715 million. Compare that to Silver Wheaton’s current market capitalization of $8 billion.

The CEO’s view

Randy Smallwood, president and chief executive officer of Silver Wheaton, instilled confidence in the shareholders by saying, “We remain confident in our business structure which we believe is consistent with that typically used by Canadian companies, including Canadian streaming companies, that have international operations.”


Is the bottom really in now that the HUI is standing at 144.06?

Could there be a final capitulation just ahead of us?

Have you plenty of cash to take advantage of the coming bargain prices?

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Reader Comments (1)

SLW has closed the week at $15.12 - not looking too good at the moment but maybe the worst is over.

July 10, 2015 | Registered CommenterSilver Prices

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