Generation Mining (GENM.TO) is currently awaiting the final result of the permitting process for the Marathon Palladium-Copper project in Ontario but fortunately it doesn’t have to worry about funding while completing the process. Wheaton Precious Metals (WPM.TO, WPM) has wired the company the second tranche of the pre-agreed cash payments as part of the streaming deal. Generation Mining will receive a total of C$240M with C$200M payable in four tranches during the construction process.

As part of the deal, Weaton Precious Metals had to provide C$40M in cash to Generation Mining during the permitting process and this should help the company to complete the permitting process and place orders for the long-lead items.


Disclosure: The author has a long position in Generation Mining. Generation is a sponsor of the website. Please read our disclaimer.

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