Silver Stock Gainer; Silver Wheaton continues to Climb

Silver Wheaton Corp. (NYSE: SLW) shares climbed this morning, continuing last week�s ascent after the company announced its fourth-quarter financial results and full year 2010 financial results. Silver Wheaton gained nearly 3%, trading at $45.82 at the opening bell.

For the fourth quarter of 2010 the company reported that its net earnings more than doubled to $123 million. The company�s fourth-quarter operating cash flows climbed 76% to $124.7 million. The company�s attributable silver equivalent production for the fourth quarter was 6.3 million ounces, up 10% over the same period in 2010. Its silver equivalent sales were 5.7 million ounces, up 11% over the same period in 2009.

For 2010, Silver Wheaton reported net earnings of $290.1 million, up from $117.9 million reported in 2009. The company�s operating cash flow for the quarter increased 93% to $319.8 million. The company reported attributable silver equivalent production of 23.9 million ounces for 2010, representing an increase of 37% over 2009. The company�s silver equivalent sales were 20.5 million ounces, representing an increase of 29% over 2009.

Commenting on the company�s performance in the fourth quarter and 2010, Peter Barnes, CEO of Silver Wheaton, said that 2010 was a tremendously successful year, with the company setting new records on all financial and operating metrics. Barnes further said that in just six years, Silver Wheaton has grown its market capitalization in excess of $15 billion, and has more silver reserves that any silver company in the world.

Following the release of record operating and financial results for the fourth quarter and full year 2010 on Friday, shares of Silver Wheaton reached a 52-week high of $45.40 to end the day 2.84% higher at $44.96. Year-to-date, Silver Wheaton shares gained 15.16%.

Silver Wheaton is a Vancouver, Canada-based mining company, generating its revenue mainly from the sale of silver.

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