TORONTO (miningweekly.com) – Vancouver-based Silver Wheaton will likely be even more active this year on the corporate activity front, as difficult market conditions for mining and development companies produce a growing number of acquisition opportunities, president and CEO Peter Barnes said on Thursday.

Silver Wheaton, which buys silver at precontracted prices from miners and sells the metal at the current spot price, completed four new silver stream agreements in 2008.

Although prices for the precious metal softened in the fourth quarter of last year -Silver Wheaton realised an average silver price of $10,49/oz, compared with $14,18/oz a year earlier - they have since bounced back “quite nicely” to around $14/oz, Barnes said.

“I remain more bullish on long-term silver prices than ever, in light of the world economic climate,” he told analysts and investors on a conference call.

The current market conditions “provide us with the best growth prospects we have ever seen.”

The company sees significant opportunities for growth over the next 12 – 18 months, particularly as cash-strapped firms are seeking to sell silver streams to fund development or realise value from metal produced as a byproduct.

In fact, Silver Wheaton, which raised C$287,5-million earlier this month, plans to “stockpile” cash, so that it has a war chest ready to take advantage of opportunities that arise, Barnes said.

Based on current contracts, Silver Wheaton expects silver sales to be between 15-million and 17-million ounces in 2009, increasing to approximately 30-million ounces by 2013.

Shares in the company declined 8,7% on Thursday, to C$8,49 apiece, after it posted a $54,2-million loss for the fourth quarter.

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