Silver Standard Resources Inc SSRI

Record Production

[finnboy]

VANCOUVER, Jan. 11, 2017 /CNW/ - Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) ("Silver Standard") reports its fourth quarter and full year 2016 operating results. Additionally, we are providing 2017 production and cost guidance for our three operations.

Fourth Quarter and 2016 Operating Highlights:

• Consistent record of delivery: Achieved production guidance for the fifth consecutive year.
   
• Record annual production: Produced 393,325 gold equivalent ounces in 2016 as all three operations met or exceeded previously improved production guidance. During the fourth quarter, gold equivalent production totaled 110,130 ounces.
   
• Robust gold production at Marigold: Production in the fourth quarter was strongest for the year at 59,945 ounces of gold, taking full year production to 205,116 ounces.
   
• Exceeded gold production guidance at Seabee: The mine achieved the highest annual production in its 26-year history, producing 77,640 ounces of gold in 2016. With fourth quarter production of 19,711 ounces of gold, production over the second half of the year exceeded our H2 2016 production guidance range.
   
• Record annual silver production at Pirquitas: The mine concluded a successful year with fourth quarter production of 2.2 million ounces of silver, taking annual production to a record 10.4 million ounces of silver in 2016.

Paul Benson, President and CEO said, "Our production results continue to demonstrate the strength of our operating portfolio, following the successful acquisition of the Seabee Gold Operation earlier this year. I commend our mines and their respective teams for delivering to or exceeding their operating plans. Our fourth quarter production of over 110,000 gold equivalent ounces is a strong finish to a very successful year. These results are underpinned by our operational excellence program, commitment to safe production and strong balance sheet positioning us to continue creating shareholder value in 2017."

Read more at https://www.stockhouse.com/news/press-releases/2017/01/11/silver-standard-reports-fourth-quarter-2016-production-results-and-2017#2eCL6elHsW3J6Wai.99

[ch08532]

Company is in good shape but I suspect the M&A activity to continue in 2017.  Pirquitas is running dry and 2017 output is cut in half.  Still waiting on a go/no-go decision on Golden Arrow JV which should have happened last year now pushed to Q1 this year.   Gonna wait on this one for now.

[prouditalian]

you missed the boat this time Ch...I got lucky and got back in on tax loss selling time.  Pirquitas is an uncertainty but with so much cash and cash equivalents, these guys will make another smart buyout in 2017..this one is a lock going forward IMO.

[ch08532]

Perhaps but I've decided to pass on this one for now.  Bought some THO at the 11 handle.  I'll take the short term hit now for the long term gain plus I get paid to wait.