Inside the Deal: A Streamlined Path to Gold Production
The Spring Valley gold project, located in Pershing County, Nevada, is expected to begin production in 2028 and has a projected mine life of about 10 years.
Solidus Resources, which secured full ownership of the project in 2015, has spent years refining its technical and operational groundwork through drilling, geotechnical studies, and extensive risk mitigation.
“Wheaton’s commitment has ensured the project is now fully funded,” said Isser Elishis, executive chair of Waterton Gold, noting that the venture now boasts $1.3 billion in total committed capital.
He added, “Early site works are already underway as we prepare to commence full construction in 2026 and achieve first gold production in the first half of 2028.”
Strong Financial Foundation Backs the Expansion
Wheaton said it remains well-positioned financially, with about $1 billion in cash reserves as of June 30 and access to a $2 billion revolving credit facility. This liquidity, the company stated, will comfortably support the Nevada acquisition without compromising its financial flexibility.
The move comes less than a year after Wheaton expanded its global reach with the $175 million acquisition of an under-development gold project in Ethiopia from Allied Gold Corp., underscoring its aggressive push toward high-value, long-term assets.
