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July 10, 2014
05:19 EDTSSRISilver Standard reports Q2 production results
Silver Standard Resources provides Q2 operational update for the Pirquitas mine in Jujuy, Argentina and the Marigold mine in Nevada, U.S. The Pirquitas mine produced 2M ounces of silver during Q2, higher than the 1.9M ounces produced in Q1. The mine also produced 9.3M pounds of zinc in zinc concentrate in Q2. The quarter-on-quarter increase in metal production is due to an increase in head grade as a result of specific locations mined in accordance with the company's mine plan. During Q2, the company recognized sales of 1.9M ounces of silver and 5.3M pounds of zinc. The decrease in zinc sales reflects unusually high Q1 sales and timing of deliveries. Approximately 402,000 tonnes of ore were milled during Q2, compared to 406,000 tonnes in the Q1. Ore was milled at an average rate of 4,423 tonnes per day, 11% above the mill's nominal design. This compares to an average milling rate of 4,514 tonnes per day in Q1. During the Q2, the Marigold mine produced 22,060 ounces of gold, exceeding quarterly guidance by 10%. Gold sales totaled 21,990 ounces for the quarter. The majority of ore mined in Q2 was from the lower grade upper portions of the Mackay Phase 1 pit while less material was sourced from the Target pit as the company completed Phase 1. The mine moved a total of 18.3M tonnes of material, of which 2.4M tonnes of ore was delivered to the heap leach pads at a grade of 0.34 g/t gold.
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October 23, 2014
12:29 EDTSSRISilver Standard management to meet with Jefferies
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