Silver Wheaton profit rises 23 pct
March 21 (Reuters) - Silver Wheaton Corp reported a 23 percent rise in fourth-quarter profit as output rose by more than a fifth.
Profit rose to $177.7 million, or 50 cents per share, from$144.7 million, or 41 cents per share, in the year-earlier period.
Attributable silver equivalent output rose 22 percent to 8.5 million ounces, for the quarter. Average cash costs rose to $4.70 per silver equivalent ounce, from $4.06 per silver equivalent ounce, a year earlier.
Vancouver-based Silver Wheaton, which provides miners with cash up front to finance mine construction in exchange for the right to buy future silver production at a set price, said revenue rose 50 percent to $287.2 million.
Silver Wheaton shares, which have lost about 19 percent of their value over the last six months, closed at C$31.69 on the Toronto Stock Exchange on Thursday.
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