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Fly News Breaks for January 11, 2017
SSRI
Jan 11, 2017 | 17:15 EDT
Silver Standard expects to produce 355,000 gold equivalent ounces on a consolidated basis at mid-point of guidance at gold equivalent cash costs of $735 per ounce. CapEx for the three mines is expected to total $43M. At Marigold, production is expected to increase, weighted towards the first half of the year. CapEx total $30M. Despite the decline in mining costs capitalized, cash costs per payable ounce are expected to be similar to 2016. At Seabee Gold Operation, production is expected to remain near record levels of between 72,000 and 82,000 ounces of gold at low cash costs with annual production expected to be weighted toward the second half of the year. At the Pirquitas mine, mining of the San Miguel open pit is expected to cease in January 2017. As a result, silver production is expected to decline and cash costs are expected to be higher in 2017, compared to 2016. Zinc production is not expected in 2017. Exploration and development expenditures are forecast at $15M.
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