| Silver Standard Declares Marigold, Pirquitas Production | |
| | |
|
Silver Standard Resources Inc. SSRI declared production results for Marigold and Pirquitas mines for the year ended Dec 31, 2015. The company’s Marigold and Pirquitas mines achieved record annual gold and silver production, respectively.
Marigold produced 207,006 ounces of gold in 2015 – the highest annual production in the mine's history. Gold production exceeded the guidance of 195,000 to 205,000 ounces, which was revised upward from 160,000 to 175,000 ounces in Aug 2015. The better-than-expected production resulted from the company safely moving a record 74.6 million tons of material in 2015 and mining additional ore tons at the Mackay pit.
Pirquitas produced a record 10.3 million ounces of silver last year. This marked the fourth straight year in which Pirquitas achieved or surpassed production guidance. Silver Standard’s shares closed around 0.6% lower at $5.21 on Jan 8. In Sep 2015, Silver Standard closed the acquisition of Valmy Property, which is contiguous with its Marigold mine in Nevada, for $11.5 million in cash from Newmont Mining Corporation NEM. The Valmy Property is a 2,844 hectare land package surrounding parts of the Marigold mine to the east, south and west.
Silver Standard plans to secure formerly operating open pits with exploration potential near Marigold's Mackay pit. This will aid in creating value for shareholders at Marigold. This acquisition also represents an opportunity for Silver Standard to increase resources and add operating flexibility at Marigold. Silver Standard currently carries a Zacks Rank #2 (Buy). Other companies in the mining space worth considering are Agnico Eagle Mines Limited AEM and AngloGold Ashanti Ltd. AU. Both of these stocks carry a Zacks Rank #2. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NEWMONT MINING (NEM): Free Stock Analysis Report ANGLOGOLD LTD (AU): Free Stock Analysis Report AGNICO EAGLE (AEM): Free Stock Analysis Report SILVER STD RES (SSRI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
|
|
|
VanEck Vectors Global Alternative Energy ETF
|
|
PRODUCER |
CODE : SSO.TO |
ISIN : CA82823L1067 |
CUSIP : 82823L 106 |
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Silver Standard is a silver producing company based in Canada. Silver Standard produces silver, tin and zinc in Argentina, develops gold and silver in Peru, and holds various exploration projects in Peru. Its main asset in production is PIRQUITAS in Argentina, its main asset in development is SAN LUIS PROJECT in Peru and its main exploration properties are CANDELARIA NEVADA and BERENGUELA in Peru, VETA COLORADA, PITARILLA, PENASCO QUEMADO and SAN AGUSTIN in Mexico, SUNRISE LAKE in Canada, CHALLACOLLO in Chile and DIABLILLOS and MAVERICK SPRINGS in Argentina. Silver Standard is listed in Canada, in Germany and in United States of America. Its market capitalisation is 569.8 millions as of today (US$ 452.2 millions, € 382.1 millions). Its stock quote reached its lowest recent point on September 04, 1998 at 1.01, and its highest recent level on August 02, 2017 at 12.01. Silver Standard has 47 442 200 shares outstanding. |