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Last C$8.97 CAD
Change Today -0.06 / -0.66%
Volume 976.3K
As of 4:00 PM 10/9/15 All times are local (Market data is delayed by at least 15 minutes).

silver standard resources (SSO) Snapshot

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10/6/15 - C$10.02
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silver standard resources (SSO) Details

Silver Standard Resources Inc. engages in the acquisition, exploration, development, and operation of precious metal mineral properties in the Americas. The company primarily explores for silver, gold, zinc, and lead deposits. Its principal projects include the Pirquitas mine consisting of 50 semi-contiguous mineral exploration concessions covering a total area of 3,621 hectares located in the Puna de Jujeña region of northwestern Argentina in the province of Jujuy; and Marigold mine comprising approximately 19,560 acres situated in southeastern Humboldt County, Nevada. The company was formerly known as Consolidated Silver Standard Mines Limited and changed its name to Silver Standard Resources Inc. in April 1990. Silver Standard Resources Inc. was founded in 1946 and is headquartered in Vancouver, Canada.

Founded in 1946

silver standard resources (SSO) Top Compensated Officers

Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $316.9K
Senior Vice President of Operations
Total Annual Compensation: $407.4K
Vice President of Technical and Project Devel...
Total Annual Compensation: $316.9K
Vice President of Business Development & Stra...
Total Annual Compensation: $276.6K
Total Annual Compensation: $606.6K
Compensation as of Fiscal Year 2014.

silver standard resources (SSO) Key Developments

Silver Standard Resources Inc. Reports Operational Results for its Marigold and Pirquitas Mines for the Third Quarter of 2015

Silver Standard Resources Inc. reported operational results for its Marigold and Pirquitas mines for the third quarter of 2015. Delivered gold production to schedule at Marigold: Produced approximately 41,300 ounces of gold, on track to achieve increased 2015 production guidance. Continued strong production at Pirquitas: Produced 2.6 million ounces of silver, 5% above second quarter production and on track to deliver record annual silver production. Increased ore tonnes at higher grade to leach pads at Marigold: Stacked ore increased to 7.2 million tonnes and gold grade increased to 0.43 g/t as the mine loaded approximately 70,000 recoverable ounces to the leach pads in the third quarter. Increased throughput at Pirquitas: Milling rate increased by 18% to 410,000 tonnes milled in the third quarter. The Pirquitas mine produced 2.6 million ounces of silver during the third quarter of 2015, higher than the 2.4 million ounces produced in the second quarter of 2015. The quarter-on-quarter increase in silver production is primarily due to the higher amount of ore milled, as silver mill feed grade and recovery remained relatively in line with the previous quarter. The mine also produced 2.1 million pounds of zinc in zinc concentrate during the third quarter. Pirquitas is on track to meet increased 2015 silver production guidance of between 9.5 and 10.5 million ounces, which would result in a record annual silver production for the mine. The company recognized sales of 2.8 million ounces of silver and 2.4 million pounds of zinc for the quarter. Ore was milled at an average rate of 4,454 tonnes per day in the third quarter of 2015, 17% higher than the average milling rate of 3,815 tonnes per day in the second quarter as the planned mill rate increased after the second quarter maintenance shutdown. Ore milled contained an average silver grade of 238 g/t, 9% lower than the 262 g/t reported in the second quarter. The average recovery rate for silver was 82%, consistent with the average recovery rate in the previous quarter.

Golden Arrow Resources Corporation Enters into Business Combination Agreement with Silver Standard Resources Inc

Golden Arrow Resources Corporation announced that it has entered into a business combination agreement with Silver Standard Resources Inc., which contemplates the joint development of Golden Arrow's Chinchillas project and an agreement to combine the producing Pirquitas Mine and the Chinchillas project, located approximately 35 kilometres apart in Jujuy Province of Argentina, into a single new operation. Subject to an 18-month period of pre-development activities (the "Preliminary Period"), Silver Standard will have the right to commence a business arrangement that will see the Pirquitas Mine and the Chinchillas project combined into a 75% (Silver Standard) 25% (Golden Arrow) jointly owned mining business, with Silver Standard assuming the role of operator. During the Preliminary Period, Silver Standard will pay Golden Arrow up to CAD 2 million on completion of certain milestones, and invest up to an estimated $12.6 million, with a minimum expenditure commitment of $4 million, at Chinchillas to advance the project and evaluate the feasibility of developing a combined mining business with its existing Pirquitas operation. Golden Arrow will assist in the pre-development activities and evaluation process. Furthermore, Golden Arrow will be paid an amount equal to 25% of the Pirquitas mine's cash equivalent earnings during the Preliminary Period, less certain expenditures for exploration (including pre-development expenditures), capital investment and closure costs incurred during the Preliminary Period, based on a pre-defined formula, payable on closing of the business combination.

Silver Standard Resources Inc. Enters into Agreement with Golden Arrow Resources Corporation to Develop the Chinchillas Project in Jujuy Province, Argentina

Silver Standard Resources Inc. announced that it has entered into an agreement with Golden Arrow Resources Corporation, whereby Silver Standard will explore, evaluate and seek to develop the Chinchillas project in Jujuy Province, Argentina. Under the terms of the Agreement, Silver Standard will evaluate Chinchillas during the Preliminary Period as a mining operation to supply feed to the Pirquitas plant beginning in the second half of 2017. Silver Standard has committed to spend a minimum of CAD 4 million for pre-development activities. Expenditures may total up to CAD 12.6 million based on the success of the pre-development activities, including exploration, mine planning, metallurgical studies, permitting and engineering studies. The Preliminary Period extends for 18 months from the signing of the Agreement. The company has agreed to pay Golden Arrow up to CAD 2 million during the Preliminary Period in four CAD 500,000 cash installments with the first installment paid on signing and the remaining conditional upon completion of project milestones. Following signing of the Agreement, Golden Arrow will initiate the process to obtain the necessary court and shareholder approvals required to form the joint venture under a plan of arrangement. If Silver Standard elects to proceed, Silver Standard and Golden Arrow will enter into a joint venture whereby Silver Standard will be the majority partner and operator. The joint venture would be comprised of Silver Standard's Pirquitas property and Golden Arrow's Chinchillas property to be owned by Silver Standard and Golden Arrow on a 75%/25% basis, respectively. Silver Standard may elect to exercise its option at any time over the Preliminary Period. Upon entering into the joint venture, Silver Standard will pay Golden Arrow an amount equal to 25% of mine earnings generated by Pirquitas less certain expenditures for exploration (including Chinchillas pre-development expenditures), capital investment and closure costs incurred during the Preliminary Period.


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