Sorry Silver Standard, This Deal Makes Absolutely No Sense
Itinerant • 103 Comments
Itinerant • 103 Comments
Thu, Apr. 21, 9:21 AM| Thu, Apr. 21, 9:21 AM
Tue, Apr. 19, 9:17 AM
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.
Thu, Feb. 11, 9:13 AM
- Gainers: DDD +15%. AG +14%. FSM +13%. TRIP +12%. MUX +11%. AUY +11%. SBGL +11%. GFI +10%. AGI +10%. LC +10%. GG +10%. CDE +9%. EGO +9%. KGC +9%. HMY +9%. IAG +9%. EXPE +8%. ABX +8%. NEM +8%. SLW +8%. SSRI 8%. AU 7%. AEM 7%. HL 7%. NG 7%. CSCO 6%. SKX 5%.
- Losers: FLO -18%. INCY -15%. SFL -13%. MYL -13%. BTU -13%. ZNGA -13%. SNOW -11%. IFF -10%. ELMD -9%. AVP -8%. CS -7%. BCS -7%. SUNE -6%. CIG -5%. TWTR -6%.
Dec. 24, 2015, 2:37 PM
Dec. 9, 2015, 5:40 PM
Oct. 8, 2015, 5:58 PM
- Silver Standard Resources (NASDAQ:SSRI) +3% AH after providing Q3 operational results for its Marigold and Pirquitas mines.
- SSRI says Q3 production at the Marigold mine in Nevada totaled 41.3K oz. of gold and is on track to achieve increased 2015 production guidance, stacked ore rose to 7.2M metric tons, and gold grade increased to 0.43 g/t as the mine loaded ~70K recoverable oz. to leach pads.
- Production at the Pirquitas mine in Argentina totaled 2.6M oz. of silver, 5% above Q2 production and on track to deliver record annual silver production, and the milling rate rose 18% to 410K metric tons.
Jul. 27, 2015, 5:37 PM
Jun. 8, 2015, 5:37 PM
May 15, 2015, 5:38 PM
May 13, 2015, 12:45 PM
Jan. 14, 2015, 5:26 PM
- Silver Standard Resources (NASDAQ:SSRI) +6.3% AH after reporting Q4 production of 2.2M oz. of silver and 67.1K oz. of gold, as well as silver sales of 2.8M oz., gold sales of 68.7K oz. and zinc sales of 8.7M lbs.
- SSRI says it achieved record full-year silver (8.7M oz.) and zinc production (30M lbs.) at the Pirquitas mine in Argentina.
- SSRI forecasts FY 2015 silver production of 9M-10M oz., gold production of 160K-175K oz. and zinc production of 10M-12M.
- Says its expects 2015 exploration and development expenditures to remain at a reduced level of $15M.
Dec. 30, 2014, 4:18 PM
- With the dollar falling against the yen and pound and a minor flight to safety afoot - Treasurys are higher, stocks have closed moderately lower - COMEX gold is up 1.4% today to $1,197/oz., and COMEX silver is up 2.6% to $16.20/oz. The gains have provided a lift to the volatile/beaten-down shares of gold and silver miners.
- Notable gold gainers: IAG +11.7%. ABX +3.6%. AUY +5.2%. NEM +3.6%. GG +4.6%. AU +4.2%. SBGL +4.9%. KGC +4.1%. AGI +5%. AEM +5.1%.
- Notable silver gainers: AG +7.6%. SVM +7.1%. SSRI +6.2%. SVM +6.4%. PAAS +3.9%. SVLC +5.2%. EXK +6.9%.
- ETFs with 3%+ gains: NUGT +10.1%. GDXJ +5.1%. USLV +9.7%. UBG +5.4%. USV +3.8%. SIVR +3.4%. AGQ +6.3%. BAR +3.2%. DBS +3.2%.
- The group rallied on Friday after the PBOC relaxed lending rules for banks, but sold off on Monday.
Dec. 26, 2014, 3:34 PM
- Spurred by hopes China's efforts to relax lending rules are a sign that broader (inflation-boosting) stimulus efforts are on tap, gold and silver prices are rallying, and taking the shares of miners up with them. COMEX gold is up 1.8% to $1,194.50/oz., and COMEX silver is up 2.5% to $16.11/oz. GLD +1.7%. SLV +2.2%.
- Gold stocks: AUY +3%. GG +4.6%. AGI +4.1%. ABX +3.4%. KGC +3.7%. GFI +3.7%.
- Silver stocks: SLW +2.3%. SSRI +6.9%. PAAS +1.9%. AG +3.6%. CDE +4.1%. HL +4.2%. SVM +6.8%. EXK +5.4%. TAHO +5.3%.
- Like many other commodities names, the group was hit hard a month ago when crude prices plunged in response to OPEC's decision to leave oil production unchanged.
- ETFs: AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, OUNZ, DGL, DBS, DGZ, DGLD, AGOL, TBAR, USV, UBG, GLDE, BAR, GYEN, GEUR, BARS, GGBP
Nov. 28, 2014, 1:21 PM
- Already hit hard over the last two years by declining prices, gold and silver miners saw more pain today as commodity stocks in general got hammered thanks to OPEC's decision not to slash crude production.
- Decliners: ABX -8%. GG -6.1%. AUY -9.8%. KGC -8.2%. GFI -9.9%. SLW -7%. NEM -5.8%. AGI -6.9%. PAAS -9%. AG -15.4%. SSRI -11.6%. CDE -11.4%. HL -8.8%. TAHO -7.8%.
- Previous: Precious metals slide alongside oil; Swiss vote ahead
Silver Standard Resources, Inc. engages in the operation, development, exploration, and acquisition of precious metal projects. It focuses on the production and operation in Pirquitas and Marigold Mines. It primarily explores for silver, zinc, gold, and lead deposits. The company was founded on... More
Sector: Basic Materials
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