Silver Standard Resources
Encyclopedia
Silver Standard Resources is a Vancouver based silver
, zinc
and tin
producer that owns the largest silver mine in Argentina. In addition it engages in exploration activity throughout the America's (6 countries) and Australia. Though its assets consist of 14 properties scattered across three continents it currently (January 2011) receives revenue from only one operation (Pirquitas, Argentina which started operating in December 2009). Silver Standard also has a total gold resource of over 3.5 million ounces though 2P reserves represent only 5%. 12 of the 14 projects are 100% owned (exceptions are San Luis (70%) and Maverick Springs is (55%). Not surprisingly a lot of its silver is in Mexico, Peru, the USA and Australia (those countries are the four largest producers of silver; Australia has the largest resource of silver).
2010 zinc production was about three million pounds (1.5 million in the fourth quarter). Tin production was on track to be near 100,000 pounds (about six times less than previously estimated)
Argentina is home to the Diabillos, Pirquitas, and Pitarilla projects. The Sunrise Lake gold and silver properties are in Canada. Bowdens
(only silver) is in Australia, San Luis (gold and silver) and Berenguela are in Peru. Candelaria and Maverick Springs are in the United States (Maverick Springs is 50 miles from Elko, Nevada
, Candelaria is near Copiaco, Nevada).
In December 2010 it sold the Snowfield and Bruceback projects to Pretium Resources for C$442 million.
In August 2011 it sold Australian silver project Bowdens (97.1 million ounces in measured/inferred silver resources) to gold miner Kingsgate Consolidated for $75 million , $65 million of which will be paid when the deal closes (a portion of which is Kingsgate company shares).
Silver
Silver is a metallic chemical element with the chemical symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it has the highest electrical conductivity of any element and the highest thermal conductivity of any metal...
, zinc
Zinc
Zinc , or spelter , is a metallic chemical element; it has the symbol Zn and atomic number 30. It is the first element in group 12 of the periodic table. Zinc is, in some respects, chemically similar to magnesium, because its ion is of similar size and its only common oxidation state is +2...
and tin
Tin
Tin is a chemical element with the symbol Sn and atomic number 50. It is a main group metal in group 14 of the periodic table. Tin shows chemical similarity to both neighboring group 14 elements, germanium and lead and has two possible oxidation states, +2 and the slightly more stable +4...
producer that owns the largest silver mine in Argentina. In addition it engages in exploration activity throughout the America's (6 countries) and Australia. Though its assets consist of 14 properties scattered across three continents it currently (January 2011) receives revenue from only one operation (Pirquitas, Argentina which started operating in December 2009). Silver Standard also has a total gold resource of over 3.5 million ounces though 2P reserves represent only 5%. 12 of the 14 projects are 100% owned (exceptions are San Luis (70%) and Maverick Springs is (55%). Not surprisingly a lot of its silver is in Mexico, Peru, the USA and Australia (those countries are the four largest producers of silver; Australia has the largest resource of silver).
2010 zinc production was about three million pounds (1.5 million in the fourth quarter). Tin production was on track to be near 100,000 pounds (about six times less than previously estimated)
Pirquitas mine
The Pirquitas mine is located in north-west Argentina. Reserves there are enough to keep it producing for 14.5 years at an average annual rate of 10 million ounces for silver and 2,500 tonnes for tin. In 2010, its first year of production, it produced 6.3 million ounces of silver, almost 70% of that in the second half. According to an analyst at Blackmont it will become "one of the world's primary silver mines".Projects
In addition to its lone operating mine in Argentina the company is in the process of developing 13 other projects. Though there are 14 in total located in seven countries (including further exploration at Pirquitas) 71% of all silver resources and 91% of gold are in Argentina and Mexico.Argentina is home to the Diabillos, Pirquitas, and Pitarilla projects. The Sunrise Lake gold and silver properties are in Canada. Bowdens
Bowden, South Australia
Bowden is an inner northern suburb of Adelaide, South Australia. It is located in the City of Charles Sturt.-History:The 'Village of Bowden' was established in 1839 by James Hurtle Fisher, who named it after his native village in Northamptonshire....
(only silver) is in Australia, San Luis (gold and silver) and Berenguela are in Peru. Candelaria and Maverick Springs are in the United States (Maverick Springs is 50 miles from Elko, Nevada
Elko, Nevada
Elko is a city in Elko County, Nevada, United States. The population was 18,297 at the 2010 census. It is the county seat of Elko County. The city straddles the Humboldt River....
, Candelaria is near Copiaco, Nevada).
In December 2010 it sold the Snowfield and Bruceback projects to Pretium Resources for C$442 million.
In August 2011 it sold Australian silver project Bowdens (97.1 million ounces in measured/inferred silver resources) to gold miner Kingsgate Consolidated for $75 million , $65 million of which will be paid when the deal closes (a portion of which is Kingsgate company shares).