Wheaton Precious Metals affirmed that the company is primarily a precious metal business despite announcing first production from a cobalt stream from Voisey's Bay.

CEO Randy Smallwood spoke to Kitco on Friday. The cobalt deal was first announced in 2018.

The company's Q1 was Thursday. Wheaton's revenue was $324 million in the first quarter of 2021, representing a 27% increase from the first quarter of 2020 due primarily to an equivalent increase in the average realized gold price. The company affirmed year-end guidance.