May 14, 2012 / 11:14 AM / 5 years ago

Silver Wheaton profit lifted by output gains

May 14 (Reuters) - Silver Wheaton Corp reported a 20 percent increase in first-quarter earnings on Monday, driven by increased output from mines with which the stream financing company has silver purchase agreements.

Vancouver-based Silver Wheaton said net income had risen to $147.2 million, or 41 cents a share, up from $122.2 million, or 34 cents a share, a year-earlier.

The company, which helps finance mine construction by giving miners upfront cash in exchange for receiving a portion of the asset’s future silver production at a set price, said quarterly revenue had risen 26 percent to $199.6 million.

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