Silver Standard Resources, IncNASDAQ
Sorry Silver Standard, This Deal Makes Absolutely No Sense
Itinerant • 103 Comments
Itinerant • 103 Comments
Fri, Sep. 16, 11:42 AM
- Silver Standard Resources (SSRI -2.4%) provides a revised five-year production and cost profile of its Marigold mine in Nevada, raising its gold production guidance by 20% to average nearly 220K oz./year.
- SSRI forecasts cash costs decrease to an average of ~$700/oz. of gold sold due to increased production and sustained operating efficiencies.
- Earlier this week, Endeavour Silver agreed to acquire SSRI's Parral properties in Mexico for $6M in shares.
Thu, Aug. 11, 2:18 PM
- Silver Standard Resources (SSRI +12.2%) rallies to a new 52-week high after Q2 earnings and revenues beat analyst expectations thanks to strong cost reduction efforts.
- SSRI reduces cash cost guidance for its Marigold mine in Nevada to $650-$700/oz. of gold sold after producing more than 47K oz. during Q2 at cash costs of $663/oz., and at the Pirquitas mine in Argentina to $9-$10/oz. of silver after producing 2.5M oz. during Q2 at $8.87/oz.; the company also raises its annual production guidance of Pirquitas for the second time this year to 9M-10N oz. of silver.
- SSRI says Q2 Marigold production was lower Q/Q because of planned ore stacking at higher elevations on the leach pads, but expects higher Q3 and Q4 production vs. H1 as the new leach pad is commissioned and the full impact of additional haul trucks is realized.
Thu, Aug. 11, 9:15 AM
Wed, Aug. 10, 11:17 PM
Tue, Aug. 9, 5:35 PM
Tue, Aug. 9, 7:57 AM
- Silver Standard Resources (NASDAQ:SSRI) +3.9% premarket after saying it favorably resolved its dispute with the Canada Revenue Agency related to the tax treatment of the 2010 sale of shares of a subsidiary that owned and operated the Snowfield and Brucejack projects.
- SSRI says the CRA will issue a new notice of reassessment for 2010 and 2011, reversing the previous notice, and refund C$24.1M the company had paid to the CRA to appeal, plus accrued interest.
- SSRI says it will advise the U.S. Department of Justice to file a notice of discontinuance with the Tax Court of Canada.
Thu, Jul. 14, 5:36 PM
Wed, Jun. 8, 9:16 AM
Thu, May 19, 9:18 AM
Wed, May 11, 6:02 PM
Tue, May 10, 5:35 PM
Thu, Apr. 21, 9:21 AM| Thu, Apr. 21, 9:21 AM
Tue, Apr. 19, 9:17 AM
Thu, Mar. 31, 6:36 PM
- Silver Standard Resources (NASDAQ:SSRI) says it signed an option agreement to explore and potentially acquire a 100% interest in the Perdito gold project in California.
- SSRI says it has budgeted $1.5M for related drilling and field work this year with permits anticipated later in 2016.
- SSRI says previous exploration work completed by companies including BHP Billiton and Newmont Mining demonstrates that mineralization and geochemistry at Perdito is typical of the Carlin-type sediment-hosted gold systems found in northeastern Nevada.
- Now read Sorry Silver Standard, this deal makes absolutely no sense
Mon, Mar. 7, 12:45 PM
Mon, Mar. 7, 11:15 AM
- Silver Standard Resources (SSRI -9.6%) agrees to acquire Canadian gold mining company Claude Resources (OTCQB:CLGRF +14.2%) for ~C$337M (US$253M), mostly in stock.
- SSRI says Claude shareholders, who will own ~32% of the combined company on closing, will receive cash and stock that values shares at ~C$1.65 each, a ~30% premium to Claude’s Friday closing price.
- The combined company, which will comprise Claude’s Seabee gold mine in Saskatchewan and SSRI’s Marigold gold mine in Nevada and Pirquitas silver mine in Argentina, is expected to produce ~390K gold equiv. oz. in 2016.