| Silver Standard Appoints Paul Benson as President & CEO - Analyst Blog | |
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Silver Standard Resources Inc. SSRI declared that its President and CEO, John Smith will retire from his role, effective Jul 31, 2015. The company’s board has named Paul Benson as the new President and CEO. Effective Aug 1, 2015, Benson will assume his duty.
Even after his retirement, Smith will act as an advisor to Benson and the board till Dec 31, 2015. According to Smith, Silver Standard will gain from Benson’s leadership and experience. He added that the company is well placed globally and follows a disciplined growth plan. Silver Standard’s board too is confident about the leadership skills of the new President and CEO.
According to Peter Tomsett, Chairman of the board, Smith had brought about a transformation in the management team, expanded the company’s portfolio and improved its operational capacity. Management is certain that as the new President and CEO, Benson will carry forward Smith’s legacy and help strengthen this platform for the company’s long-term success and growth.
Silver Standard recently reported its second-quarter operational results and revised full-year 2015 outlook for its Pirquitas and Marigold mines. Gold and silver production in the first half of 2015 was recorded as 104,283 ounces and 5.2 million, respectively.
Silver Standard expects the Pirquitas mine to produce 9.5–10.5 million ounces of silver in 2015, 5% higher than its previous outlook of 9–10 million ounces of silver. The company reaffirmed its zinc production guidance of 10–12 million pounds for 2015. Also, it now expects the Marigold mine to produce gold in the range of 195,000–205,000 ounces in 2015, 19% higher than its earlier projection of 160,000–175,000 ounces.
The related cost guidance for the above-mentioned mines will be revealed when the company reports its second-quarter earnings.
Silver Standard currently sports a Zacks Rank #1 (Strong Buy).
Other well-placed companies in the mining space include Endeavour Silver Corp. EXK, Fresnillo PLC FNLPF and Newmont Mining Corporation NEM, all carrying a Zacks Rank #2 (Buy).
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PRODUCER |
CODE : SSO.TO |
ISIN : CA82823L1067 |
CUSIP : 82823L 106 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Silver Standard is a silver producing company based in Canada. Silver Standard produces silver, tin and zinc in Argentina, develops gold and silver in Peru, and holds various exploration projects in Peru. Its main asset in production is PIRQUITAS in Argentina, its main asset in development is SAN LUIS PROJECT in Peru and its main exploration properties are CANDELARIA NEVADA and BERENGUELA in Peru, VETA COLORADA, PITARILLA, PENASCO QUEMADO and SAN AGUSTIN in Mexico, SUNRISE LAKE in Canada, CHALLACOLLO in Chile and DIABLILLOS and MAVERICK SPRINGS in Argentina. Silver Standard is listed in Canada, in Germany and in United States of America. Its market capitalisation is 569.8 millions as of today (US$ 452.2 millions, € 382.1 millions). Its stock quote reached its lowest recent point on September 04, 1998 at 1.01, and its highest recent level on August 02, 2017 at 12.01. Silver Standard has 47 442 200 shares outstanding. |