SLW is currently trading about a buck higher….what a steal for the buyer….what the hell is wrong with Telfer.?

Silver Wheaton investor Goldcorp sells its 48% interest

2008-01-31 17:25 ET - News Release

Also News Release (C-G) Goldcorp Inc (2)

Mr. David Awram of Silver Wheaton reports

GOLDCORP ANNOUNCES SECONDARY OFFERING OF ITS ENTIRE 48% INTEREST IN SILVER WHEATON

Silver Wheaton Corp. and Goldcorp Inc. have entered into an agreement with a syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd., Genuity Capital Markets and GMP Securities L.P., with Macquarie Capital Markets Canada and Genuity Capital Markets as co-bookrunners, pursuant to which the underwriters have agreed to purchase from Goldcorp, on a bought deal basis, 108 million common shares of Silver Wheaton at a price of $14.50 per common share for total gross proceeds to Goldcorp of $1,566,000,000. The offering represents the sale of Goldcorp’s entire 48-per-cent interest in Silver Wheaton. Silver Wheaton will not receive any proceeds from the offering.

A preliminary short-form prospectus relating to the securities has been filed with the securities regulators in each of the provinces of Canada and a registration statement relating to these securities has been filed with the United States Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. A copy of the prospectus relating to the offering may be obtained from Marilia Costa, Macquarie Capital Markets Canada, suite 3100, 181 Bay St., Toronto, Ont., M5J 2T3, 416-848-3662.

The offering is scheduled to close on or about Feb. 14, 2008, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals.

A conference call will be held by Silver Wheaton on Friday, Feb. 1, 2008, at 11 a.m. (Eastern Time). To participate in the live call use one of the following methods: dial toll-free from Canada or the United States at 1-866-225-6564, or dial from outside Canada or the United States at 1-416-641-6141. A live audio webcast will be available on Silver Wheaton’s website. Participants should dial in five to 10 minutes before the call.

We seek Safe Harbor.