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News Breaks | | | | December 5, 2012 | | 05:14 EDT |  | SSRI | Silver Standard announces positive feasibility study for Pitarrilla
Silver Standard Resources announced the results of the Feasibility Study for its 100% owned Pitarrilla Project located in the State of Durango, Mexico. Silver Mineral Reserves: Probable Mineral Reserves of 479M ounces of silver, approximately 5.2x the 91.7M ounces reported previously. Long-life and high production: A 32-year project producing an average of 15M ounces of silver per year during the first 18 years of production. Robust project economics: An after-tax net present value of $737M at base case metal prices and $1.7B at spot prices. An after-tax internal rate of return of 12.8% at base case metal prices and 21.2% at spot prices. Capital expenditures: Total construction costs of $741M, including $157M of pre-production operating costs and $131M of pre-production revenue. Low technical risk: Utilizes standard truck-and-shovel open-pit mining methods and well-established flotation and leach processing methods. | |
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