Silver Standard Resources is a Vancouver-based mining company with assets throughout the Americas. It is listed on the Toronto Stock Exchange (TSX: SSO) and on the NASDAQ Global Market (NASDAQ: SSRI). The Company owns and operates the Pirquitas mine in Jujuy, Argentina, which is one of the largest primary silver mines in the world. Pirquitas achieved commercial production in December 2009. In 2012, the mine produced 8.6 million ounces of silver, exceeding production guidance for the year, and is expected to produce up to 8.5 million ounces of silver in 2013. Silver Standard also has two wholly-owned feasibility stage projects, Pitarrilla in Mexico and San Luis in Peru.
The Pitarrilla project is expected to have a 32-year project life and to produce approximately 15 million ounces of silver per year for the first 18 years. The project has Probable Mineral Reserves of 479 million ounces of silver. The total construction costs are estimated at $741 million, including $157 million of pre-production operating costs and $131 million of pre-production revenue1. The Company anticipates a construction decision at Pitarrilla by the end of 2013. Silver Standard has an active exploration program and in 2013 plans to continue exploration activities at the Pirquitas mine, at the San Luis project area, and on several of its Mexican mineral properties, particularly in the historically important Parral mining district.
Silver Standard is equipped with an experienced management team of mine-builders and operators with proven capabilities. A healthy cash balance and a significant ownership interest in Pretium Resources maintain the Company’s strong financial position. Additionally, Silver Standard controls an extensive portfolio of projects ranging from grassroots to production. With the right people, an enviable cash position and a diversified portfolio, Silver Standard is well-positioned to deliver growth and long-term shareholder value.
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