Revel in the glory of Wheaton Precious Metals – a titan in the industry – as it basks in the afterglow of one of the most sensational deal-making years it has ever witnessed. The mood is upbeat as CEO Randy Smallwood joyously announces the clinching of eight transactions, with a staggering sum exceeding $1 billion, executed over the course of approximately a year.

You can sense the ebullience in Smallwood’s voice as he paints a picture of an environment brimming with deals. However, a tinge of wistfulness creeps in as he highlights the challenges posed by the contemporary deal-making landscape. The scarcity of top-tier projects that check all the boxes on the investment checklist has Smallwood and his team pondering the dearth of worthwhile ventures available for exploration and development.