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SSRI /silver standard ressources / fil dédié

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MessageRe: SSRI /silver standard ressources / fil dédié
par marie Jeu 3 Fév 2011 - 1:58

http://finance.yahoo.com/news/Silver-Standard-Announces-iw-2730194984.html?x=0&.v=1

suite à la vente de Snowfield et Brucejack projects à Prétium ressources, la boite de l'ex pdg de SSRI, et selon les accords précédents
SSRI prend ( en sus des capitaux versés précédemment ) 42.3% du capital de Prétium ressources + 18 Millions $ restant dû sur le billet à ordre convertible

Silver Standard Announces Automatic Conversion of Convertible Promissory Note Issued by Pretium Resources Inc.



Press Release Source: Silver Standard Resources Inc. On Tuesday February 1, 2011, 8:00 am EST

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 02/01/11) - Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News) ("Silver Standard" or the "Company") announces that the balance of a convertible promissory note (the "Convertible Note") issued by Pretium Resources Inc. ("Pretium") to the Company was automatically converted in accordance with its terms on January 31, 2011. The conversion resulted in the issuance to Silver Standard of 3,625,500 common shares of Pretium (the "Pretium Shares") at a deemed price of $6.00 per Pretium Share. Following this issuance, Silver Standard owns 36,163,333 Pretium Shares, representing 42.3% of the issued and outstanding Pretium Shares.
The Convertible Note was issued to the Company in connection with the acquisition by Pretium of the Snowfield and Brucejack projects and related assets. Of the original principal amount of the Convertible Note, $18 million was previously repaid by Pretium from the aggregate gross proceeds of the exercise of an over-allotment option granted to the underwriters in connection with Pretium's initial public offering.
Silver Standard does not have any present intention to acquire ownership of, or control over, additional securities of Pretium. It is the intention of Silver Standard to evaluate its investment in Pretium on a continuing basis and such holdings may be increased or decreased in the future.
Silver Standard is a silver mining company that seeks growth through discovery, the development of its project pipeline, and accretive acquisition opportunities.



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Revenir en haut Aller en bas
Messagemagnifique PDF sur pourquoi je l'aime tant
par g.sandro Lun 21 Fév 2011 - 18:42

accrochez vous aux branches...

http://files.shareholder.com/downloads/SSRI/1006031180x0x435941/e0aeeeff-2d45-449c-a753-37d91431fab8/SSRI%20Corp%20PPT%20CIBC%2019%20Jan%2011%20-%20Final.pdf



 Market cap: US$2.2 billion
 Shares outstanding: 78.8 million; 84.4 million fully diluted
 2010 share liquidity: ~1.5 million/day
 Generating cash flow
Largest in-ground silver resource of any silver company
 Extensive portfolio of silver projects throughout the Americas
 Increasing financial strength – large cash balance
 Accretive silver and gold resource growth (per ounce basis)
(at December 31, 2010)



Silver is king, Go Gold !
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MessageSilver Standard Reports First Quarter et c'est du bon, comme prévu
par g.sandro Jeu 12 Mai 2011 - 0:09

Silver Standard Reports First Quarter

SymbolPriceChangeSSO.TO
26.31-3.34

Press Release
Source: Silver Standard Resources Inc.

On Tuesday May 10, 2011, 10:22 pm EDT

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 05/10/11) - Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News)
("Silver Standard" or the "Company") is pleased to report the Company's
unaudited financial and operating results for the quarter ended March
31, 2011. The Company produced 1.7 million ounces of silver and 3.2
million pounds of zinc, and generated revenue of $60.1 million during
the first quarter 2011.
"We are focused on Pirquitas operating as a
mine with predictable and improving performance," said John Smith,
President and CEO of Silver Standard. "We are making progress, our
crushing circuit has been installed on budget and on schedule and the
mill is operating at design."First Quarter 2011 Highlights(All figures are in U.S. dollars unless otherwise noted.)

-- Produced 1.7 million ounces of silver at an average cash production cost
(net of by product zinc credits) of $10.93 per ounce.

-- Zinc production exceeded forecast at 3.2 million pounds.

-- Sold a record 2.1 million ounces of silver at a realized average price
of $31.10 generating revenue of $60.1 million. This revenue included our
first zinc concentrate sale of 4.6 million pounds.

-- Generated net earnings of $9.9 million or $0.12 per share.

-- Generated operating cash flows of $21.8 million or $0.27 per share.

-- Realized $17.1 million of net cash proceeds from the partial exercise by
the underwriters of the overallotment option granted in conjunction with
the initial public offering of Pretium Resources Inc.

-- Announced entering into an agreement to 100% consolidate our ownership
interest in the high-grade gold and silver San Luis project in Peru.

-- Commissioned, on budget and on schedule, the tertiary crushing circuit
at Pirquitas. Estimated crushing capacity is forecast to exceed 5,000
tonnes per day.

-- Appointed Joe Phillips, Senior Vice President, Operations and
Development. Additional appointments include Bruce Kennedy, General
Manager, Pirquitas and James Moore, General Manager, San Luis.

-- Subsequent to the quarter, realized C$115 million of gross cash proceeds
from the sale of 11.5 million units in Pretium Resources Inc.

Pirquitas Mine, ArgentinaSummary Mine Operating Statistics (1)

----------------------------------------------------------------------------
Q1 2011 Q4 2010 Q3 2010 Q2 2010 Q1 2010
----------------------------------------------------------------------------
Total
Material
Mined Kt 4,172 4,360 3,920 3,900 3,876
----------------------------------------------------------------------------
Ore
Processed Kt 308 313 320 346 276
----------------------------------------------------------------------------
Silver Grade g/tonne 233 267 283 240 129
----------------------------------------------------------------------------
Recoveries % 73.6 76.3 66.3 63.7 53.2
----------------------------------------------------------------------------
Silver
Produced '000 oz. 1,697 2,067 1,933 1,692 609
----------------------------------------------------------------------------
Cash
Production
Cost US$/oz. $ 10.93 $ 9.47 $ 10.42 $ 11.27 $ 29.32
----------------------------------------------------------------------------
Cash
Operating
Cost US$/oz. $ 23.23 $ 16.07 $ 16.94 $ 14.98 $ 36.61
----------------------------------------------------------------------------

(1) Cash production cost per ounce and cash operating cost per ounce are
Non-GAAP measures discussed under non-GAAP financial performance measures
contained in the MD&A for the quarter ended March 31, 2011 and year ended
December 31, 2010.

The
Pirquitas mine produced 1.7 million ounces of silver during the first
quarter of 2011 compared with 2.1 million ounces in the fourth quarter
of 2010 and 0.6 million ounces of silver in the first quarter of 2010.
Production levels significantly exceeded the first quarter of 2010 due
to the ramping up of production throughout 2010 to design levels. In the
first quarter of 2011, commissioning of a tertiary crushing circuit and
the implementation of crushing circuit de-bottlenecking initiatives
increased capacity to greater than 5,000 tonnes per day. These
activities lead to planned plant downtime and, therefore, lower silver
production compared to the fourth quarter of 2010.During the
first quarter of 2011, 307,745 tonnes of ore were processed at an
average milling rate of 3,419 tonnes per day, compared to 313,051 tonnes
at an average of 3,440 tonnes per day achieved in the fourth quarter of
2010 and 276,375 tonnes at an average milling rate of 3,070 tonnes per
day in the first quarter of 2010.The Pirquitas mine has been
processing sulphide ores since the third quarter of 2010. The
metallurgical response to the sulphide ore has been in line with
expectations and overall silver recovery rates are approaching
feasibility study expectations. The ore contained silver head grades of
233 grams per tonne
and achieved recoveries of 74%, compared to silver
head grades of 267 grams per tonne and achieved recoveries of 76% in the
fourth quarter of 2010 and the transitional ore which contained silver
head grades of 129 grams per tonne and achieved recoveries of 53% in the
first quarter of 2010. Silver grades were lower in the first quarter
2011 compared with the fourth quarter 2010 due to abnormal rainfall that
prevented accessing areas of the pit outlined for mining. Silver
recovery was down slightly in the first quarter 2011 due to lower silver
grade and decreased throughput.The zinc flotation circuit was
re-commissioned during the fourth quarter of 2010, and as a result
separate silver and zinc concentrates are now being produced, with the
first sales of zinc concentrate occurring in January 2011. Zinc
production totaled 3.2 million pounds in the first quarter of 2011 and
was higher than forecast due to better than expected metallurgical
performance. Zinc sales totaled 4.5 million pounds, including zinc
inventory produced in the fourth quarter of 2010 and the first quarter
of 2011.Test work of the tin circuit is underway at a number of
laboratories globally, with the objective to improve the tin recovery
while maintaining a good final concentrate tin grade. Preliminary
results of this test work are expected later in 2011.Cash
production costs in the first quarter were $10.93 per ounce compared to
$9.47 per ounce in the fourth quarter of 2010 and $29.32 per ounce in
the first quarter of 2010. This was driven by lower silver production in
2011 compared to the fourth quarter of 2010, but significantly higher
production than the first quarter of 2010. Cash operating costs, which
include treatment and refining costs, royalties and production taxes,
were $23.23 per ounce compared to $16.07 per ounce in the fourth quarter
of 2010 and $36.61 per ounce in the first quarter of 2010. The
increased costs are a function of the higher sales price in the first
quarter of 2011 resulting in increased third party charges. These costs
include treatment and refining charges which are recorded for the actual
ounces sold during the quarter, consequently on a per ounce basis, the
variability from quarter to quarter is partially due to the difference
between production and sale volumes.

Total production costs, including depreciation and amortization, were $27.52 per ounce in the first quarter of 2011 compared to $18.82 in the fourth quarter of 2010 and $47.69 in the first quarter of 2010.

The high depreciation per unit in the first quarter of 2010 is again representative of the units produced in the period because depletion and depreciation is largely a fixed cost.Financial ResultsOur financial results are now
reported under International Financial Reporting Standards ("IFRS") and
the 2010 comparative results have been restated to IFRS in the current
period financial statements.

Refer to Note 2 in the unaudited March 31, 2011, financial statements for a detailed description of our accounting policies under IFRS and Note 25 for disclosures and reconciliation of the impact of IFRS on previously reported results.

Mine OperationsDuring the first quarter 2011 the Company recorded revenues from the Pirquitas mine of $60.1 million from the sale of 2.1 million ounces of silver with a realized price of $31.10 per ounce. This is compared with the
first quarter of 2010 which recorded revenues of $11.5 million from the
sale of 0.9 million ounces of silver with a realized price of $17.43 per
ounce.

Cost of sales for the first quarter 2011 was $32.2 million
compared to $28.1 million in the first quarter of 2010, which resulted
in earnings from mine operations of $27.9 million in the first quarter
of 2011 compared to a loss of $16.6 million
in the first quarter of
2010.Net EarningsNet earnings for the three months ended
March 31, 2011, were $9.9 million ($0.12 per share) compared to a net
loss of $3.4 million ($0.04 per share) in the first quarter of 2010.

LiquidityAt March 31, 2011, the Company held $260.7 million (December 31, 2010 - $232.3 million) in cash and cash equivalents and $33.0 million (December 31, 2010 - $33.5 million) in marketable securities.



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Revenir en haut Aller en bas
MessageSSRI ouvre en baisse de 15%
par marie Jeu 10 Nov 2011 - 15:51

revue à la baisse des réserves de Pirquitas Mineral Resources , grosse sanction du marché ==> -17.71% en live !



http://finance.yahoo.com/news/Silver-Standard-Reports-Third-iw-2582362997.html?x=0



Silver Standard Reports Third Quarter 2011 Results and Lowers Pirquitas Mineral Resources & Reserve Estimate



VANCOUVER, BRITISH COLUMBIA--(Marketwire -11/09/11)- Silver Standard Resources Inc. (TSX: SSO.TO - News)(NASDAQ: SSRI - News) ("Silver Standard" or the "Company") reported unaudited financial and operating results for the third quarter ended September 30, 2011. The Company also disclosed a reduction of its mineral resources and reserve at the Pirquitas mine in Argentina.

"Third quarter production was lower than a year ago, but now that we have addressed the issues at our Pirquitas mine we can look forward to strong, continuous production from the mine," said John Smith, President and CEO of Silver Standard. "While we have taken a prudent approach to Pirquitas' reserves, we have a great exploration team who are focused on finding more ounces. We also will continue advancing our combined Pitarrilla oxide and sulphide mining complex in Mexico."

Third Quarter 2011 Summary

(All figures are in U.S. dollars unless otherwise noted)


-- Reached 1 million man hours free of any loss time injuries at Pirquitas
-- Net earnings of $21.8 million or $0.27 per share versus a loss last year
-- Cash balance of $356 million or $639 million in cash and equity
investments
-- Completed Bowdens sale for $70 million, recording a $51 million gain
-- Approved $25 million budget to advance the schedule and feasibility of
the Pitarrilla complex


Subsequent to the quarter;


-- Rebuilt the ball mill gearbox with all new internal parts
-- Resumed production at Pirquitas, November 5, 2011
-- Commenced spot sales of silver concentrate
-- Completed a Pirquitas mineral resources and reserve estimate resulting
in a reduction of ounces in both categories


Pirquitas Mine, Argentina


Table 1. Summary of Mine Operating Statistics

----------------------------------------------------------------------------
Q3 2011 Q2 2011 Q1 2011 Q4 2010 Q3 2010
----------------------------------------------------------------------------
Total Material Mined Kt 4,185 4,483 4,172 4,360 3,920
----------------------------------------------------------------------------
Ore Processed Kt 245 295 308 313 320
----------------------------------------------------------------------------
Silver Grade g/t 250 261 233 267 283
----------------------------------------------------------------------------
Recoveries % 82.9 80.0 73.6 76.3 66.3
----------------------------------------------------------------------------
Silver Produced '000 oz. 1,631 1,976 1,697 2,067 1,933
----------------------------------------------------------------------------
Direct Mining Cost(1) US$/oz. 16.20 11.57 12.26 9.55 10.43
----------------------------------------------------------------------------
Total CashCost(1) US$/oz. 20.60 22.06 23.23 16.06 16.95
----------------------------------------------------------------------------

(1) The Company changed its presentation of cash costs per ounce during the
second quarter of 2011 in line with the newly endorsed production cost
guidance provided by The Silver Institute. Direct mining cost per ounce and
total cash cost per ounce are Non-GAAP measures discussed under non-GAAP
financial performance measures contained in the Management Discussion and
Analysis ("MD&A") for the quarter ended September 30, 2011 and year end
December 31, 2010.


Mine Production

The Pirquitas mine produced 1.6 million ounces of silver during the third quarter of 2011 compared with 1.9 million ounces in the third quarter of 2010. The lower production in the current quarter, as compared to the second quarter of 2011, resulted from a 17-day ball mill shutdown in July 2011 and a further 7-day shutdown in September 2011 to refurbish the gearbox. In the period between these two shutdowns the plant was achieving design rates with daily average production of 26,000 ounces and recovery rates of 83%. The gearbox has been completely rebuilt with new parts and recommenced operating in early-November. This rebuild put the gearbox in near-new condition. Shipping of a replacement gearbox from Europe is also scheduled for November with arrival on site in January 2012.

The Company revised its production guidance to produce between 7.3 and 7.6 million ounces of silver in 2011 as a result of the three performance issues with the ball mill gearbox. Unanticipated plant downtime in October and November after the revised guidance was issued on September 24, 2011, means achieving the low end of production guidance will be a successful outcome in the Company's view.

During the third quarter 245,127 tonnes of ore were processed at an average milling rate of 2,664 tonnes per day, compared to 295,004 tonnes at an average of 3,241 tonnes per day achieved in the second quarter of 2011 and 320,174 tonnes at an average milling rate of 3,480 tonnes per day in the third quarter of 2010. However, the average milling rate in the third quarter of 2011 per operating day was in excess of 3,600 tonnes per day.

The ore milled during the third quarter of 2011 contained average silver grade of 250 g/t and achieved average silver recovery of 83%, compared to a silver grade of 283 g/t and recovery of 66% in the third quarter of 2010. The strong silver recovery achieved during the third quarter of 2011 was due principally to consistent feed and continuous improvements to the crushing and flotation circuits.

The mine produced a total of 3.3 million pounds of zinc in the third quarter of 2011 compared to 2.8 million pounds in the second quarter of 2011.

Mine Operating Costs

Direct mining cost in the third quarter was $16.20 per ounce silver compared to $10.43 per ounce in the third quarter of 2010. Operating costs were higher in the third quarter as a result of additional repairs and maintenance costs associated with the refurbishment of the ball mill gearbox, and additional maintenance costs and external costs associated with the import restrictions that affected the ability to obtain quality spare parts.Operations were also impacted by import restrictions which were imposed by the Argentine government on all industries.

Total cash cost, which includes by-product credits, treatment and refining costs, royalties and production taxes, was $20.60 per ounce silver compared to $16.95 per ounce in the third quarter of 2010. Treatment and refining costs, as well as royalties and production taxes are all a function of sales prices and are recorded for the actual ounces sold during the quarter. The incremental per ounce impact of these costs in the third quarter of 2011 compared with the third quarter of 2010 is due to lower sales in the current quarter. Higher prices achieved on sales in the current quarter partially offset the volume impact compared to the third quarter of 2010.

Total production cost, which includes depreciation and amortization, was $24.55 per ounce in the third quarter of 2011 compared to $19.89 in the third quarter of 2010. The depreciation and amortization costs are largely fixed, and are higher on a per ounce basis in the current quarter due to lower production volumes.

Pirquitas Mineral Resources and Reserve Estimates

As part of the Company's ongoing production-reserve reconciliation and mine planning, and to delineate the deposit in greater detail for the mine's mineral resources and reserve estimates, the Company undertook a comprehensive drilling campaign between the fourth quarter of 2010 and September, 2011. Assay results from these drill-holes have been utilized by the Company's Qualified Persons (QPs) to complete advanced modeling of the deposit's current mineral resources and reserve. Model validation included detailed reconciliation with grade control and mine production data. The outcome of this modeling work is shown below in Tables 2 and 3.


Table 2. Pirquitas Mineral Resources Estimate, as of September 30, 2011
(Total Measured and Indicated Resources are Inclusiveof Total Reserve)

----------------------------------------------------------------------------
Silver Zinc Contained Contained
Tonnage Grade Grade Silver Zinc
Classification (Mt) (g/t) (%) (Moz) (Mlbs)
----------------------------------------------------------------------------
Measured 13.5 156.2 0.49 68.0 144.9
----------------------------------------------------------------------------
Indicated 16.3 142.3 0.91 74.6 328.4
----------------------------------------------------------------------------
Stockpiles (Indicated) 3.0 78.5 1.50 7.5 98.1
----------------------------------------------------------------------------
Total Measured and Indicated 32.8 142.2 0.79 150.1 571.4
----------------------------------------------------------------------------
Cortaderas Breccia
Inferred 2.0 152.0 5.4 9.9 239.3
----------------------------------------------------------------------------
Cortaderas Valley Inferred 5.0 78.6 1.1 12.6 120.8
----------------------------------------------------------------------------
Total Inferred 7.0 98.4 2.3 22.5 360.1
----------------------------------------------------------------------------

Notes to Table 2:

1. Dr. Warwick Board, Ph.D. (Geology), P.Geo., is the Qualified Person (QP)
for the reported mineral resource estimate.
2. All mineral resources have been classified in accordance with current
CIM definition standards.
3. The reported measured and indicated resources represent resources
estimated to exist below the as-mined surface as of September 30, 2011.
4. The multiple-indicator kriging (MIK) modeling methodology was employed
for estimates of the Measured and Indicated Resources, whereas ordinary
kriging was used to estimate the Cortaderas Breccia Resource and single-
indicator kriging was utilized for the Cortaderas Valley Inferred
Resource.
5. A silver cut-off grade of 50 g/t Ag was used for all of the reported
resource estimates.
6. A capping grade of 1,600 g/t Ag was utilized for the Cortaderas Breccia
mineral resource estimate, while capping grades of 235 g/t Ag and 10% Zn
were used for the Cortaderas Valley mineral resource estimate. Due to
the nature of the MIK modeling technique, no grade capping was required
for the Measured and Indicated resource estimates for the mine.
7. Detailed bulk density modeling, taking into account voids created by
historical underground mining and differential rock densities, resulted
in an average bulk density value of 2.60 tonnes per cubic meter for the
resource estimates.
8. Sums may not equal reported totals due to rounding.


Dr. Warwick Board, Ph.D. (Geology), P. Geo., the QP who completed the mineral resource estimates reported here has been employed by the Company as Senior Resource Geologist since August 2009, and before joining the Company was Principal Consultant with Snowden Mining Industry Consultants. The NI 43-101 Technical Report supporting these resource estimates will be filed on SEDAR within 45 days from the release date of this document.


Table 3. Pirquitas Mineral Reserve Estimate, as of September 30, 2011

----------------------------------------------------------------------------
Silver Zinc Contained Contained
Tonnage Grade Grade Silver Zinc
Classification (Mt) (g/t) (%) (Moz) (Mlbs)
----------------------------------------------------------------------------
Proven 10.4 181.2 0.52 60.4 117.9
----------------------------------------------------------------------------
Probable 5.1 168.9 1.04 27.6 117.1
----------------------------------------------------------------------------
Reserve Stockpiles 1.2 129.2 1.03 5.0 27.6
----------------------------------------------------------------------------
Total Reserve 16.7 173.7 0.71 93.1 262.6
----------------------------------------------------------------------------

Notes to Table 3:

1. R. Bruce Kennedy, BS (Mining Engineering), P. E. is the Qualified Person
for the reported mineral reserve estimate.
2. Trevor Yeomans, B.Sc. (Mineral Processing), P. Eng., is the Qualified
Person who provided metallurgical parameters that were incorporated in
the reserve estimates.
3. All mineral reserves have been classified in accordance with current CIM
definition standards.
4. Reported mineral reserves were estimated using the Measured and
Indicated resources shown in Table 2, excluding 1.2 Mt Indicated
resource estimated for the Oploca Vein to contain approximately 8.2 Moz.
silver. The estimated Oploca mineral resource lies just beyond the
southern limits of the current pit design.
5. Metal prices used in reserve estimates are $25.00 per ounce of silver
and $2,403 per tonne of zinc.
6. Mining costs are as per 2011 actual costs, with estimated productivity
changes incorporated.
7. Mill and general administrative costs were estimated on the basis of
2011 actual costs, incorporating projections to full and stable
production.
8. The mineral reserve is quoted within a pit design that utilizes
geotechnical parameters proven from actual performance. The design was
created using a geometry guideline from a Lerche-Grossman algorithm that
maximizes the reserve cash flow.
9. Average open-pit strip ratio of 4.89:1 total:ore was used.
10. The cut-off grade was developed on a net smelter return (NSR) basis that
uses a total operating cost of $35.52 per tonne of ore.
11. Metallurgical recovery formulas were applied for silver and zinc
concentrates that reflect increasing recovery with increasing head
grade. Average metallurgical recovery for silver is 79.8 percent, and
for zinc 42.9 percent.


R. Bruce Kennedy, BS (Mining Engineering), P.E., the QP who has approved the estimated mineral reserve reported here, is the General Manager of the Pirquitas Mine, having joined the Company in March 2011. Mr. Kennedy has extensive mine management experience and prior to joining the Company was a senior mining consultant with SRK Consulting. A NI 43-101 Technical Report supporting the tabulated reserve estimates will be filed on SEDAR within 45 days from the date of this news release.

Significant factors affecting the new mineral resource and reserve estimates include the following:


-- the determination that silver mineralization which exists between high-
grade veins in the upper parts of the deposit becomes less prevalent and
of uneconomic grade in the lower parts of the deposit;
-- increases in operating cost per tonne of ore from $22.00 to $35.52,
which include additional waste mining costs, general and country-
specific inflation over three years and some incremental tailing storage
costs.
-- depletion of 18.6 million ounces of silver since the start of production
in 2009 until September 30, 2011;understanding of processing and cost of
production following mining through the pit to the sulphide ore which
commenced in Q3 2010; and
-- the decision to exclude at this time cost credits from the production of
tin until an economically viable processing method has been designed and
tested.


The 2008 mineral resources estimate and the 2011 mineral resources estimate have been reported on different bases. The former was reported on a silver-equivalent basis, including the economic benefit of tin. This mineral reserve estimate totaled 195.1 million ounces of silver and 550 million pounds of zinc contained, as stated in a NI 43-101 Technical Report, dated September 29, 2008, and filed on SEDAR. The 2011 mineral resources estimate uses a 50 g/t silver-only cut-off.The 2010 and 2011 drilling has enabled improvement in the Company's interpretation of geological controls on the mineralization. The 2011 mineral resources model has been validated through reconciliation of grade control and mine production data.

The Company is focused on opportunities for cost reduction, pursuing the option of dry-stacking of tailings and is investigating processes for tin recovery which together are expected to bring resources back into reserves. Extensive 'brownfield' exploration is also being conducted on the property with encouraging results to date. In 2011, the Company's exploration team identified two significant silver and zinc-bearing breccia bodies, one that is currently being mined from the open-pit and another that is located approximately 200 meters north of the pit in a resource area referred to as Cortaderas (see Table 2).

The Company's exploration efforts will continue in the pursuit of delineating new mineral resources and reserve on the Pirquitas property. Metallurgical engineering work will also continue on the development and implementation of a process to recover the significant tin mineralization found in the Pirquitas ore.

Notwithstanding, the Company estimates that the noted changes to the mine's mineral resources and reserve estimate, from 2012 onwards Pirquitas will continue operating for 6.5 years as an 8-10 million ounces per annum silver producer, with a further 2.5 years of production of approximately 3 million ounces of silver per annum coming from stockpiles. This mine life estimate is based on $25.00 per ounce silver and $2,403 per tonne of zinc and could be extended assuming the continuation of current market prices of approximately $35 per ounce silver.

Exploration Drilling Program

In addition to the comprehensive in-fill drilling program that was completed in 2011 in the area of the San Miguel open-pit, the Company diamond drilled 1,837 meters at an exploration target located just 200 meters north of the pit in the Cortaderas Valley. The main target at Cortaderas consists of a steeply plunging breccia body where the breccia matrix is composed of silver-bearing iron and zinc sulphide mineralization. To date, nine relatively closely spaced drill-holes have intersected the mineralized breccia body. The results from this drilling are encouraging, with intercepts from a select number of the boreholes being highlighted below in Table 4. Based on the drilling completed to date, Dr. Warwick Board,the Company's Senior Resource Geologist and QP,has estimated an Inferred resource for the breccia of 2.0 million tonnes averaging 152 g/t silver and 5.4% zinc, for approximately 9.9 million ounces of contained silver, at a 50 g/t silver cut-off grade. Sulphide-rich, vein-hosted mineralization has been intersected by drill-holes in the vicinity of the above mentioned breccia body and is estimated to contain an additional 12.6 million ounces of silver in the Inferred resource category (refer to Table 2 for details).


Table 4. Select Drill-hole Intersections of the Cortaderas Breccia

----------------------------------------------------------------------------
Drill-Hole From (m) To (m) Length(2) (m) Ag (g/t) Sn (%) Zn (%)
----------------------------------------------------------------------------

----------------------------------------------------------------------------
DDH-099(3) 145.0 250.0 105.0 194.3 0.17 6.17
----------------------------------------------------------------------------
including 177.0 219.0 42.0 371.4 0.35 9.91
----------------------------------------------------------------------------

----------------------------------------------------------------------------
DDH-167(1) 80.0 312.0 232.0 183.2 0.13 5.40
----------------------------------------------------------------------------
including 117.0 151.3 34.3 631.5 0.17 12.08
----------------------------------------------------------------------------
and including 198.0 234.0 36.0 386.1 0.30 9.02
----------------------------------------------------------------------------

----------------------------------------------------------------------------
DDH-214(1) 156.0 374.0 218.0 477.3 0.38 7.97
----------------------------------------------------------------------------
including 218.0 276.0 58.0 1,007.7 0.39 12.83
----------------------------------------------------------------------------
and including 282.0 328.0 46.0 928.3 1.03 16.15
----------------------------------------------------------------------------

----------------------------------------------------------------------------
DDH-216(1) 257.0 421.0 164.0 59.6 0.11 3.82
----------------------------------------------------------------------------
including 337.7 385.4 47.7 166.7 0.18 9.07
----------------------------------------------------------------------------

----------------------------------------------------------------------------
DDH-217(1) 91.0 290.0 199.0 84.2 0.06 3.19
----------------------------------------------------------------------------
including 120.4 128.0 7.6 552.8 0.22 4.31
----------------------------------------------------------------------------

Notes to Table 4:

1. Holes are oriented at shallow angles to inferred plunge orientation of
mineralized breccia body.
2. Intercepts are not true thicknesses. These are to be determined by
follow-up drilling.
3. Hole DDH-099 intersected the breccia body at a high angle and ended in
mineralization.
4. All samples were submitted to ALS Chemex for preparation and analysis at
its facilities in Mendoza, Argentina. Samples were analyzed using a 4-
acid digestion and ICP-AES finish for a suite of 35 elements. Additional
tin analyses were performed using the XRF analytical technique. Samples
containing greater than 200 ppm Ag and/or greater than 100,000 ppm Zn
were re-analyzed using a 4-acid digestion with AAS finish for both
elements.
5. Silver Standard's QA/QC protocol consists of the regular insertion of
control standard and blank samples together with the analysis of field
duplicate samples. Approximately 14% of all samples analyzed represent
QA/QC samples.
6. Dr. Warwick Board, Ph.D. (Geology), P.Geo., is the Senior Resource
Geologist at Silver Standard Resources Inc. and is the QP who has
verified the data presented in Table 4.


Financial Results

Our financial results are now reported under International Financial Reporting Standards (IFRS) and the 2010 comparative results have been restated to IFRS in the current period financial statements. Refer to Note 2 in the unaudited September 30, 2011 and March 31, 2011 financial statements for a detailed description of our accounting policies under IFRS and for disclosures and reconciliation of the impact of IFRS on previously reported results. See Notes 17 and 25 in the Financial Statements for the nine months ended September 30, 2011 and year ended December 31, 2010, respectively.

Mine Operations

During the third quarter 2011 the Company recorded total revenues from the Pirquitas mine of $26.2 million from the sale of 0.7 million ounces of silver at a realized price of $39.88 per ounce, and 3.9 million pounds of zinc at a realized price of $1.01 per pound excluding the impact of quarter end price adjustment. This is compared with the third quarter of 2010 which recorded revenues of $41.6 million from the sale of 2.3 million ounces of silver at a realized price of $19.43, and no zinc sales. The reduction in sales recognized is reflective of the volume of silver ounces sold, partially offset by the significant increase in the price of silver. Zinc pounds sold in the third quarter of 2011 contributed $2.8 million to total revenues.

Since the mine's initial start-up silver concentrates have been sold pursuant to a sales contract to a single customer. The contract was terminated during the third quarter 2011 and as a result volumes of silver concentrate sold were significantly lower than prior quarters. Zinc concentrate sales were unaffected. Subsequent to the quarter individual spot sales have been completed, and the Company is continuing negotiations to establish long-term contracts with various counterparties.

Cost of sales for the third quarter 2011 was $14.7 million compared to $34.1 million in the third quarter of 2010. This resulted in income from mine operations of $11.5 million in the third quarter of 2011 compared to $7.4 million in the third quarter of 2010. The reduction in cost of sales is primarily due to the volume of product sold. Margins improved significantly, primarily as a result of higher silver prices.

On October 26, 2011 the Argentina government announced a decree that requires all funds from export sales to be repatriated to Argentina and converted into Argentina Pesos within the Sole Foreign Exchange Market in Argentina, and each transfer is subject to a 0.6% transfer tax. Although the fiscal stability agreement also includes stability over foreign exchange controls the government has removed such benefits. The Company will comply with all laws and regulations, and is in the process of determining what impact this has on the business.

Net Earnings

Net income for the three months ended September 30, 2011 were $21.8 million ($0.27 per share) compared to a net loss of $10.4 million ($0.13 per share) in the third quarter of 2010.

Liquidity

At September 30, 2011, the Company held $355.9 million in cash and cash equivalents and $36.4 million in marketable securities compared to $232.3 million and $33.5 million respectively at December 31, 2010. The increase in cash for the nine months ended September 30, 2011 was the result of cash inflows from operations of $12.9 million, $19.2 million generated from financing activities, and $91.5 million from investing activities.


----------------------------------------------------------------------------
Selected Financial Data
(US$000's, except per share amounts)

The Company is now reporting under International Financial Reporting
Standards ("IFRS") and the 2010 comparative results have been restated to
IFRS in the current period financial statements. Refer to Note 2 in the
unaudited September 30, 2011 financial statements for a detailed
description of our accounting policies under IFRS and Note 17 for
disclosures and reconciliation of the impact of IFRS on previously
reported results.

This summary of selected financial data should be read in conjunction with
the MD&A of the audited consolidated operating results and financial
condition of the Company for the three and nine months ended September 30,
2011.
----------------------------------------------------------------------------
Three Three
Months Months
Ended Ended
September September
30, 2011 30, 2010
----------------------------------------------------------------------------
Earnings from mine operations 11,492 7,426
----------------------------------------------------------------------------
Earnings from operations 3,066 1,066
----------------------------------------------------------------------------
Net earnings (loss) for the period 21,836 (10,407)
----------------------------------------------------------------------------
Basic earnings (loss) per share 0.27 (0.13)
----------------------------------------------------------------------------
Cash generated (used) in operating activities (15,835) 4,918
----------------------------------------------------------------------------
Cash generated by financing activities 5,760 915
----------------------------------------------------------------------------
Cash generated by (used in) investing activities (2,782) (27,713)
----------------------------------------------------------------------------

----------------------------------------------------------------------------
September Dec
Financial Position 30, 2011 31, 2010
----------------------------------------------------------------------------
Cash and cash equivalents 355,903 232,311
----------------------------------------------------------------------------
Current assets - total 508,455 342,054
----------------------------------------------------------------------------
Current liabilities - total 79,828 35,163
----------------------------------------------------------------------------
Working capital 428,627 306,891
----------------------------------------------------------------------------
Total assets 1,249,570 1,147,990
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Nine
Nine Months Months
Ended Ended
September September
30, 2011 30, 2010
----------------------------------------------------------------------------
Earnings (loss) from mine operations 55,189 (10,841)
----------------------------------------------------------------------------
Earnings (loss) from operations 29,702 (30,907)
----------------------------------------------------------------------------
Net earnings (loss) for the period 77,545 (23,169)
----------------------------------------------------------------------------
Basic earnings (loss) per share 0.97 (0.30)
----------------------------------------------------------------------------
Cash generated (used) in operating activities 12,903 (18,788)
----------------------------------------------------------------------------
Cash generated by financing activities 19,202 109,589
----------------------------------------------------------------------------
Cash generated by (used in) investing activities 91,487 (81,621)
----------------------------------------------------------------------------


Principal Projects

Pitarrilla, Mexico

A total of $2.7 million was spent during the quarter at the wholly-owned Pitarrilla project located in the state of Durango, Mexico compared to $9.8 million in the same quarter of the prior year.

On August 10, 2011 the Company committed a total of $25.0 million to accelerate the advancement of the Pitarrilla mining complex. A feasibility study is scheduled to be completed in the first half of 2012 and if approved, detailed design and construction will commence thereafter leading to production in approximately two years. The $25.0 million allows for the purchase of critical path process equipment and to date work has commenced on access roads, water wells, and constructing the workers' camp. The Company also continues to build the management team, notably with the recruitment of a new general manager.

A campaign of diamond drilling was also conducted during the second and third quarters, with 83 boreholes and a total of 13,867 meters being drilled. This drilling program was designed to provide in-fill assay data for an enhanced estimate of the project's 'oxide' silver resource as well as geotechnical and metallurgical information that will be used for mine design and optimization.

The Pitarrilla project currently comprises Probable mineral reserves of 91.7 million ounces of silver, Measured and Indicated resources of 551.6 million ounces of silver and Inferred resources of 82.2 million ounces of silver.

San Luis, Peru

A total of $1.3 million was spent during the quarter at the now wholly-owned San Luis project in Peru compared to $1.2 million in the same quarter of the prior year. On July 28, 2011, the Company completed the previously announced agreement, and acquired the remaining 30% interest in the San Luis project from the Company's former joint venture partner, Esperanza Resources Corp. ("Esperanza"). Under the terms of the agreement, the Company paid $17.9 million in cash, transferred to Esperanza the 6.459 million shares of Esperanza that the Company owned, and granted to Esperanza a 1% net smelter return royalty on future revenues earned from the project.

Long-term land access negotiations advanced with two local communities and work also continued on completing the required Environmental Impact Study ("EIS"). The completion of the land access agreements and the EIS will enable a construction decision to be made, which is expected to happen during 2012.

During the quarter mineral prospecting on the property resulted in the discovery of a set of northwesterly trending quartz veins which were tested for their precious metal content with the collection of 265 rock-chip samples. Assay results for these samples indicate sections of these veins are significantly mineralized with gold and require further assessment by diamond drilling.

The San Luis project comprises Proven and Probable mineral reserves of 7.2 million ounces of silver and 0.29 million ounces of gold. These reserves are 100% attributable to the Company as of July 28, 2011, following its consolidation of ownership.

Nazas, Mexico

A total of $1.6 million was spent during the quarter at the Company's Nazas project, compared to $0.2 million during the same quarter of the prior year.

Nazas, which until recently comprised three contiguous mineral properties covering approximately 236 square kilometers, is centered about 16 kilometers east of the Pitarrilla project and covers an extensive system of gold- and silver-bearing quartz veins and related hydrothermal alteration. Several of these vein targets have now been tested, with approximately 4,187 meters being drilled in the third quarter for a total of 12,587 meters coming from 22 boreholes.

Subsequent to the quarter end, the Company elected not to continue its option to purchase the Navidad claim group at the center of the Nazas project area due to the fact that assay results from boreholes drilled on the claims were insufficiently positive to justify the costs to maintain the option to purchase agreement with the owner of the claims. Notwithstanding our decision on the Navidad property, the geological information provided by this year's drilling campaign will be utilized in the planning of future drilling on the other two Nazas properties which are wholly owned by the Company. Our goal at Nazas continues to be the discovery of precious metal-rich polymetallic mineralization.

Diablillos, Argentina

A total of $0.7 million was spent during the quarter at the Company's wholly-owned Diablillos project (which is located 275 kilometers south of the Pirquitas mine in northwestern Argentina) compared to $0.7 million in the same quarter of the prior year.

Expenditures for the quarter include administrative, property taxes and camp maintenance costs. Fieldwork in the quarter mainly comprised rock sampling to identify satellite zones of near-surface oxidized gold mineralization that would complement the resources defined in the main Oculto silver-gold deposit. A number of prospects were identified for follow-up mechanized trenching and additional sampling, and depending on the results of this work which will be completed in the fourth quarter, several of these targets are expected to be drilled next year with shallow boreholes.

The Oculto deposit at the Diablillos project has a Indicated mineral resource that contains 77.1 million ounces of silver and 0.64 million ounces of gold, with additional Inferred resources containing 6.3 million ounces of silver and 0.19 million ounces of gold.

San Agustin, Mexico

A total of $0.2 million was spent during the quarter at the Company's wholly-owned San Agustin project located in Durango State, Mexico compared to the $0.5 million spent in the same quarter of the prior year. Most of the third quarter expenditure was incurred as property holding costs and other administrative expenses.

Advanced negotiations were conducted during the quarter with three parties that control the property surface rights. Once land access agreements are in place, a 5,000 meter-long diamond drilling program will be initiated, likely in the first quarter of 2012. The objective of the drilling program will be to expand the near-surface oxidized gold resource. In addition to the proposed program of in-fill drilling, detailed metallurgical studies will also be undertaken and will focus on gold recovery characteristics of the oxide gold mineralization.

The San Agustin project currently comprises an Indicated mineral resource of 47.8 million ounces of silver and 1.59 million ounces of gold, along with an Inferred resource of 36.9 million ounces of silver and 1.06 million ounces of gold.

Management's Discussion & Analysis and Conference Call

This news release should be read in conjunction with Silver Standard's third quarter 2011 Financial Statements and Management's Discussion and Analysis filed with Canadian securities regulators available at www.sedar.com, with United States Securities Regulators available at www.sec.gov, and the company's web site at www.silverstandard.com.


-- Conference Call and Webcast: Thursday,November 10, 2011, at 11:00 p.m.
Eastern Time.

Toll-free in North America: (888) 429-4600
All other callers: (970) 315-0481
Webcast: http://ir.silverstandard.com/events.cfm

-- The call will be archived and available at www.silverstandard.com after
November 11, 2011.

Audio replay will be available for one week by calling:

Toll-free in North America: (855) 859-2056, replay conference ID 20937226
All other callers: (404) 537-3406, replay conference ID 20937226


Cautionary Statements on Forward Looking Information:

The news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward looking information" within Canadian securities laws (collectively "forward looking statements") related to the Company and its operations, and in particular, the anticipated developments in our operations in future periods, our planned exploration activities, the adequacy of our financial resources and other events or conditions that may occur in the future. Statements concerning mineral resources and reserve estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the property is developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. These forward looking statements relate to, among other things: future production of silver and other metals; future cash costs per ounce of silver; the price of silver and other metals; the effects of laws, regulations and government policies affecting our operations or potential future operations; future successful development of our San Luis and Pitarrilla projects and other development projects; the sufficiency of the Company's current working capital, anticipated operating cash flow or our ability to raise necessary funds; estimated production rates for silver and other payable metal produced by the Company; timing of production and the cash and total costs of production at our Pirquitas mine; the estimated cost of sustaining capital; ongoing or future development plans and capital replacement, improvement or remediation programs; the estimates of expected or anticipated economic returns from the Company's mining projects including: future sales of the metals, concentrates or other products produced by the Company; and the Company's plans and expectations for its properties and operations.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: uncertainty of production and cost estimates for the Pirquitas Mine; uncertainty of development or production at our mineral exploration properties; risks and uncertainties associated with new mining operations, including start-up delays and operational issues; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected geological or structure formations, pressures, cave-ins and flooding); risks and uncertainties relating to the mineral resources and reserve estimates and related assumptions and the interpretation of drill results and the geology, grade and continuity of our mineral deposits; unpredictable risks and hazards related to the development and operation of a mine or mine property that are beyond our control; risks related to our ability to obtain adequate financing for our planned development activities and to complete further exploration programs; fluctuations in spot and forward markets for silver, gold and base metals and certain other commodities; our history of losses and the potential for future losses; risks related to general economic conditions, including recent market and world events and conditions; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; relationships with and claims by local communities and indigenous populations; diminishing quantities or grades of mineral reserves as properties are mined; challenges to, or difficulty maintaining, the Company's title to properties and continued ownership thereof; risks related to our covenants given with respect to our 4.5% convertible senior notes due 2028; differences in U.S. and Canadian practices for reporting mineral resources and reserve; changes in national and local legislation, taxation, controls or regulations and political or economic developments or changes in Canada, the United States, Argentina, Mexico, Peru or other countries where the Company holds assets or may carry on business; risks related to the delay in obtaining or failure to obtain required permits, or non-compliance with permits we have obtained;

increased costs and restrictions on operations due to compliance with environmental laws and regulations; regulations and pending legislation governing issues involving climate change, as well as the physical impacts of climate change; risks related to reclamation activities on our properties; uncertainties related to title to our mineral properties and the surface rights thereon; our ability to successfully acquire additional commercially mineable mineral rights; risks related to currency fluctuations (such as the Argentine peso, Peruvian sol and Mexican peso); increased costs affecting the mining industry, including the current high rate of inflation in Argentina; increased competition in the mining industry for properties, qualified personnel and management; risks related to some of our directors' and officers' involvement with other natural resource companies; our ability to attract and retain qualified management to grow our business; risks related to estimates of future income tax assets and liabilities; risks related to claims and legal proceedings; our ability to maintain adequate internal control over financial reporting; our ability to monetize the full value of our interest in Pretium Resources and those factors identified under the heading "Risk Factors" in the Company's most recent Form 20-F and Annual Information Form filed with the United States Securities and Exchange Commission (the "SEC") and Canadian and Provincial securities regulatory authorities.

This list is not exhaustive of the factors that may affect any of our forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and our actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in this news release. Our forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and we do not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

Cautionary note to U.S. investors: The terms "measured mineral resource", "indicated mineral resource", and "inferred mineral resource" used in this news release are Canadian geological and mining terms as defined in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves. We advise U.S. investors that while such terms are recognized and required under Canadian regulations, the SEC does not recognize these terms. "Inferred mineral resources" in particular have a great amount of uncertainty as to their economic feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules estimates of inferred mineral resources may not generally form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that any part or all of an inferred mineral resource exists, or is economically or legally mineable. Disclosure of contained metal expressed in ounces is in compliance with NI 43-101, but does not meet the requirements of Industry Guide 7 of the SEC, which will only accept the disclosure of tonnage and grade estimates for non-reserve mineralization.



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MessageRe: SSRI /silver standard ressources / fil dédié
par marie Ven 11 Nov 2011 - 0:02

je n'avais pas remarqué, mais la news postée au dessus date de mercredi 9-11 et pas d'aujourd'hui ... donc en effet comme le remarque ce lecteur du Midas, l'attaque SSRI à l'ouverture de la séance aurait du se produire HIER !

la news date de 17 h now... je viens de vérifier ... décallage fort étrange ...

d'autant plus qu'il coincide avec un raid encore plus monstrueux sur Tanzanian exploration mine ( TRX), la mine de Sinclair qui a dévissé ce jour de 35 % ( et même bien plus en intraday , sans AUCUNE NEWS particulière

je me faisais la réflexion tout à l'heure, quand je tombe sur ce commentaire ... et en effet, même si la news SSRI n'est pas extraordinaire, elle ne justifie amah pas une telle chute

Alors, oui on peut s'interroger... d'autant plus qu'on a vécu raids similaires récemment sur SVM



Bref, voici le commentaire en question

www.lemetropolecafe.com



TRX, SSRI

You have probably already long since noted on your own, and been notified multiple times, about the weird plummeting of TRX and SSRI. As is always the case, one never knows that there might not be a real problem deserving such treatment, but needless to say I am skeptical. I have to be suspicious of blatant manipulation designed to appear thumb-my-nose-at-you-we'll-get-away-with-it blatant. I just sent the following to TRX investor relations, as a longtime shareholder:


  1. FYI: This morning there has been nasty monkey business in another widely held and high-profile PM stock today in case you hadn't noticed. Yesterday Silver Standard issued not so good news at around noon, EST. However it was not until the opening of the market today that it got absolutely clobbered (though not as much as TRX). The decline in Ag prices did not justify the clobbering. The delay since noon yesterday strongly suggests that it was not in response to yesterday's mid-day press release.

    2. In the case of both TRX and SSRI the charts (to me) have been ugly as if there were really, really, really bad news for some time. Perhaps some wise gals/guys have expected this action for some time?

    3. There have been others that have not (?yet) been clobbered that have been treated horribly to a seemingly bizarre extent, as if there were devastating news, suppressed when there seems to be good news. I think especially of Sabina and Romarco. I suppose I am stating the obvious that everyone knows.

    Just casual observations. I may send copies to Bill Murphy & Arthur Cutten in case they're interested.
    J.B…

1. I happen to think that in the past few days Silvercorp seems to have been exonerated big-bigtime from an apparent smear campaign alleging fraud that caused its share price to plummet extremely badly. Its accountants backed it, and it just reported very good earnings, apparently, causing the share price to shoot up extraordinarily well. If one had bought at the low one would have done awfully well (even if one had not profited from shorting from the prior fall).

I wonder whether the wisegals/guys are simply going to start rotate through various companies, openly, brazenly, in a everyday routine sort of way, smashing them down on heavy volume after shorting them slowly but manipulatively, then buying them up. If one had play money (I certainly don't) one might want to look at well known small PM companies with unattractive charts as especially great buy targets, now and perhaps after a huge smack-down--whereas the normal tendency would be to buy those with more attractive charts. It will be interesting to see.

2. As always, I, like others, have to be suspicious that companies associated with or invested in by prominent PM backers (including Sprott) get punished the most spectacularly. I think Sprott has been a big if perhaps quiet Romarco backer for some time. Samex's share price seemed to be doing well after doing poorly, but has recently tended to revert to acting as if doing even worse than should be expected in a PM rough patch. I do not look at many many charts, nor do I follow who owns or recommends what, so I don't really know, however. It would be tough to do a rigorous study to test this hypothesis, however. ECU/AUMN certainly has not been treated well in the markets.

As always, no need to respond. Just casual observations.

***

Short Report

Bill:
The shorts were right again! How do they do it? Their clairvoyance is impressive or could it be just old fashioned insider information? Yesterdays(11-9-11) short levels rose to 44% of total daily trading volume for my select and representative mining companies(AEM, AG, AU, GG, NEM, PAAS, RGLD, SLW)! NEM, GG and even ABX were all over 50% short sales as a percentage of total trading volume! NEM was near 70% short sales for the day! Wow! The shorts must be expecting a collapse in the gold price soon! You gotta wonder how long they(the shorts) can keep this up. I think until/if/when the price of gold goes over $2,000 and silver over $50 they will keep shorting and covering all in the same or next day! This seems like the fourth time this year that the roller coaster ride we are on has changed directions with gold and silver strength to weakness cycles. What a system!
Dan Mason



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Messagerésultats 2011 et résultats 4eme trimestre 2011
par marie Lun 12 Mar 2012 - 17:42

si la production d'argent est en hausse, les couts de production ont augmenté et le résultat a nettement diminué



- Net earnings of $2.6 million or $0.03 per share in the three months
ended December 31, 2011, compared to net earnings of $361.6 million or
$4.56 per share in the three months ended December 31, 2010.
-- Net earnings of $80.1 million or $1.00 per share in the year ended
December 31, 2011, compared to net earnings of $338.5 million or $4.34
per share in the year ended December 31, 2010.






http://www.marketwatch.com/story/silver-standard-reports-fourth-quarter-and-year-end-2011-results-2012-03-12-71180



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MessageSSRI is looking to become a growth stock, operating one of the largest silver centered mines in the world .
par g.sandro Mer 4 Juil 2012 - 20:25

Real Risk Management: Silver Standard And Operating In Argentina

http://www.forbes.com/sites/afontevecchia/2012/07/02/real-risk-management-silver-standard-and-operating-in-argentina/

















+ Comment now





















A wide shot of the Pirquitas mine in Jujy, Argentina operated by Silver Standard - silverstandard.com


Investors looking for opportunities around the world have generally
shunned Argentina, a country that recently made headlines for unilaterally expropriating major oil company YPF from Spain’s Repsol.

Despite more than 20% inflation over the last couple of years, U.S.
dollar shortages, and import restrictions, Silver Standard Resources
have been operating in Argentina for more than six years, where it has
the Pirquitas mine, one of the biggest silver mines in the world, CEO
John Smith told Forbes. Smith believes Argentina offers great
opportunities, which he expects to take advantage of as silver prices
rally in the second half of the year, he said.













Billionaire Carlos Slim Buys 8.4% Of YPF, Cristina Kirchner Smiles





Agustino Fontevecchia
Forbes Staff













Shale Gas Wars: Argentina Fracks Repsol, Kirchner Takes YPF





Agustino Fontevecchia
Forbes Staff













A New Way To Buy Physical Gold





Abram Brown
Forbes Staff




The Pirquitas mine is located in Northern Argentina, in
the Jujuy province where it is expected to produce anywhere between 8
and 10 million ounces of silver this year and 10 to 12 million pounds of
zinc. That would make Pirquitas one of the “largest primary silver
mines in the world,” according to Silver Standard.

The recently converted silver producer
might look like a risky investment, but CEO John Smith insists Silver
Standard is a “growth stock.” Shares in his company are trading near
their 52-week low, at $11.41 by the closing bell in New York on Monday, as the price of silver is trading at its lowest levels since early 2011 ($27.50 an ounce).

Silver Standard used to act as a proxy for the price of silver,
according to Smith, as the company would “just find it, not produce
it.” But the emergence of commodity-backed ETFs,
like the GLD and the SLV, changed that story, forcing the company to
expand and become a “full-spectrum miner.” While major miners like BHP Billiton and Rio Tinto
have seen margin pressure given the need to keep up with China’s
relentless demand, Smith believes “the margins and the capital are
there” for Silver Standard to thrive.

Gold and silver equities are trading at a substantial discount to
physical metals and the ETFs (which track the price of physical), which
for Smith is an opportunity for investors. Silver Standard is
completely unhedged, and has finally been able to start production at
Pirquitas, there most promising project.

After an on-site visit, analysts at GMP Securities noted that
“operating issues that plagued the mine in 2011 have been resolved and
that Pirquitas is on track for a record 2012.” Smith and his team have
the difficult challenge, though, of operating in Argentina, a country
known for regulatory uncertainty and intense government intervention of
markets.

Risk mitigation is about
taking reality into account, whether it’s rational or not,” explained
Smith, adding that 20%-plus inflation “makes it difficult to operate,
[as it] squeezes gross profit.” The administration of Cristina Kirchner
has been trying to fix economic imbalances, as an undervalued currency
and negative interest rates have fueled a run for the safety of the U.S.
dollar among depositors. A deteriorating current account, added to an
absolute distrust for the relative value of the Argentine peso, has led
to dollar-buying restrictions, along with both implicit and explicit
import-blocking policy.

The Kirchner administration has also recently appropriated oil and
gas company YPF in order to plug a deteriorating energy balance. Smith
isn’t afraid, saying there’s little to be gained by expropriating Silver
Standard’s resources. They are a net exporter (meaning they bring in
U.S. dollars) and pay all the appropriate royalties and taxes, he said,
adding that they buy 90% of their inputs domestically (isolating them
from import-risk).

Operating in such a difficult landscape has forced them to become
better at managing cost structures, while developing new ways of
“engaging our work force to get higher productivity.” Smith said
they’ve invested $400 to $500 million in Argentina, and have never had
problems converting their revenues into U.S. dollars to take them out of
the country.

Silver Standard expects to produce between 8.2 million and 8.5
million ounces of silver this year, and between 10.5 and 11.5 million
pounds of zinc, while keeping cash costs steady at $11.85 per ounce.
Having recently signed long and short-term contracts, they have already
placed approximately 60% of monthly production with smelters. Smith
believes silver, and gold, will pop in the second half of this year,
giving his company a boost from higher prices as they increase
production. Analysts at GMP Securities have slapped a “buy” rating on
the stock and a $27 price target.

“You have to understand the risks in your business” said Smith,
noting that if one takes average risks, they will see average returns.
With “boots on the ground” and a small number of expats on his team,
Smith is sure that they will be able to continue to navigate the
difficult waters of operating in Argentina, and turn his company into a
true growth stock.



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MessageSSRI Corporate présentation actualisée décembre 2012: Les projets, les réserves etc...
par g.sandro Sam 5 Jan 2013 - 1:44




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MessageLes Résultats de production T4 2012, ça progresse encore nettement (version trouduxion FR du communiqué+ original en VO)
par g.sandro Mer 9 Jan 2013 - 8:45

http://ir.silverstandard.com/releasedetail.cfm?ReleaseID=732030

Les Résultats de production T4 2012, ça progresse encore nettement; utilisez le lien pour voir le tableau s'afficher de manière plus lisible:

Citation :
8 janvier 2013
Silver Standard offre 2012 Résultats de production et les problèmes de production 2013 et de coûts
VANCOUVER, 8 janvier 2013 / PRNewswire / - Silver Standard Resources Inc (NASDAQ: ISRS, TSX: SSO) ("Silver Standard» ou la «Société») a annoncé 2012 la production à la mine Pirquitas à Jujuy, Argentine et sous réserve de production et de coûts pour 2013.

2012 Faits marquants:

Dépassé prévisions de production d'argent : Produit 8.600.000 onces d'argent en 2012, dépassant ainsi le haut de gamme de la fourchette de prévisions. Produit £ 11,200,000 de zinc, à proximité du haut de gamme de l'année 2012 d'orientation.

Livré forte performance opérationnelle : Milled 4433 tonnes par jour, en moyenne, en 2012, 11% au-dessus de la conception nominale. Récupération de l'argent en moyenne de 76% en 2012.

Création de valeur : plus de 53.000 mètres forés au Pirquitas en 2012, agressivement explorer la Brèche et CortaderasCortaderas Valleyobjectifs. Exécuté stratégie de la société de vente, la signature d'accords commerciaux avec les fonderies, l'amélioration des marges et de construire une base de clientèle solide pour 2013.
«En 2012, notre équipe a respecté ses engagements», a déclaré John Smith, Président et chef de la direction. «Au Pirquitas, nous avons dépassé le haut de gamme de notre fourchette de prévisions de production d'argent, produisant un 8,6 millions d'onces et livré sur notre stratégie commerciale. Exploration demeure la clé de notre modèle d'affaires, et nous continuons de mettre l'accent sur la valeur ajoutée à travers la foret . Au quatrième trimestre, nous avons complété l'étude de faisabilité Pitarrilla, la définition d'une mine à environ 480 millions d'onces de réserves et de la production de 15 millions d'onces d'argent par année en moyenne durant les 18 premières années d'un projet de 32 ans. "

Sommaire des statistiques d'exploitation des mines

4e trimestre 2012 T3 2012 Variation en%
Total des matériaux extraits Kt 4415 4333 1,9%
Minerai traité Kt 417 404 3,2%
Teneur en argent alimentation de l'usine g / t 212 214 (0,9%)
De qualité alimentaire de zinc moulin % 0,67 0,65 3,1%
Récupération de l'argent % 79,9 77,7 2,8%
Récupération du zinc % 42 39 7,7%
Argent produit 000 oz 2268 2163 4,9%
Zinc produit '000 Livres 3176 2770 14,7%
Onces d'argent vendues 000 oz 3218 2770 16,2%
Livres de zinc vendu '000 Livres 2731 2152 26,9%
Remarque : Les variations sont calculées à l'aide des chiffres arrondis présentés dans le tableau.

Exploitation de la mine

En 2012, la mine a produit un Pirquitas 8,6 millions d'onces d'argent. La mine produit 2,3 millions d'onces d'argent au cours du quatrième trimestre, 4,9% au premier trimestre à trimestre amélioration reflète la hausse du taux de récupération moyen de l'argent dans l'usine et le débit plus élevé moulin. La mine a également produit 3,2 millions de livres de zinc au quatrième trimestre, ce qui porte la production totale de zinc à 11,2 millions de livres pour l'année, à proximité du haut de gamme de la gamme 2012 des orientations production de zinc.

Environ 417.000 tonnes de minerai ont été usinées à une vitesse moyenne de 4.531 tonnes par jour au cours du trimestre, 13% au-dessus de la conception nominale de l'usine. Sur une base annuelle, l'usine a traité 4.433 tonnes par jour en 2012.

Minerai usiné au cours du quatrième trimestre de 2012 contenait une teneur en argent moyenne de 212 g / t, en ligne avec les 214 g / t ont déclaré pour le troisième trimestre. Le taux moyen de récupération de l'argent a augmenté de 79,9%, passant de 77,7% au troisième trimestre.

Perspectives pour 2013

Production estimée d'argent de Standard et de coûts pour 2013 sont les suivants:

Produire et vendre de 8,2 à 8,500,000 onces d'argent.
Produire plus de 20 millions de livres de zinc.
Le coût comptant total compris entre 17,00 $ et 18,50 $ l'once d'argent.
Les dépenses en immobilisations de 25 millions de dollars à Pirquitas, dont environ 15 millions de dollars pour une expansion parc à résidus à l'exclusion de frais de découverture capitalisés.
Dépenses de 15 millions de dollars pour l'exploration dans le portefeuille de la Société.
Dépenses de 17 millions de dollars pour le développement.
Silver Standard prévoit de dépenser environ 15 millions de dollarsà l'exploration en 2013. De ce montant, environ7 millions de dollars est inscrit au budget pour l'exploration de nos projets mexicains, le solde étant principalement prévus pour Argentine et Pérou. La société peut augmenter son budget d'exploration ou de réorienter les dépenses d'exploration en réponse à des résultats positifs.

La Société s'attend à dépenser un minimum de 17 millions de dollarssur le développement en 2013. De ce montant, environ8 millions de dollars et 7 millions de dollars seront engagés à l'Pitarrilla et San Luisprojets, respectivement, en ligne avec notre objectif de faire avancer ces projets de décisions de construction. Si les décisions de construction seront réalisés, les dépenses de développement augmenterait de manière significative. Les investissements prévus à l'avance des décisions de construction comprennent l'optimisation, acquisition de terrains, les accords communautaires, l'autorisation et le financement.

John Smith, Président et chef de la direction de Silver Standard, a commenté 2013, la Société d'orientation, «Après une année 2012 forte, nous continuons à mettre l'accent sur l'obtention de résultats solides et prévisibles aux Pirquitas. Durant la première moitié de l'année, nous passons de la phase 1 à la phase 2 de l' San Miguelciel ouvert. En raison de minerai et le séquençage des stocks, nous prévoyons de produire environ 2 millions d'onces d'argent au premier trimestre de 2013 avec une production renforcement que nous avancerons dans l'année. Dans le même temps, notre équipe continuera à permettre, d'ingénierie et activités de partenariat à Pitarrilla. Nous restons concentrés sur les progrès à une décision de la construction. "

Silver Standard est tenue d'adopter les standards comptables IFRIC 20 "Frais de découverture dans la phase de production d'une Mine à ciel ouvert«Efficace 1 janvier 2013. La Société estime que l'adoption de l'interprétation IFRIC 20 sera aboutir à la capitalisation d'environ24 millions de dollars des coûts d'exploitation minière en 2013 qui sera amorti dans les périodes subséquentes.

Les modifications apportées à la présentation des mesures financières non définies par les PCGR

À compter de 2012 documents annuels, des plans standard d'argent pour revoir sa non-GAAP "coût total en espèces» et «coût total de production« divulgation de la méthodologie. En vertu de la méthode révisée, la Société fera rapport coût comptant total et le coût de production total sur une «once payable par vendu», plutôt que sur une once produite base comme indiqué précédemment. Argent concentrer droits à l'exportation qui sont courus mais non payés seront réattribuées au coût total pour refléter leur nature non-cash que la Société a un ordre en sa faveur contre leur paiement.

Le coût comptant total comprendra le coût des stocks, la troisième partie de fusion, le raffinage et le transport ainsi que des redevances moins de sous-produits de crédits. Coût de production total se compose du coût comptant total, plus dépréciation, l'épuisement, l'amortissement (y compris l'amortissement des frais de décapage reportés) et les droits d'argent concentré d'exportation. Le diviseur pour les deux mesures est d'onces d'argent à payer vendus durant la période.

D'orientation de 2013 le coût total de trésorerie tient compte de ces changements.

Citation :

Silver Standard provides 2012 production results and issues 2013 production and cost guidance
VANCOUVER, Jan. 8, 2013 /PRNewswire/ - Silver Standard Resources Inc. (NASDAQ: SSRI, TSX: SSO) ("Silver Standard" or the "Company") announced 2012 production at the Pirquitas mine in Jujuy, Argentina and provided production and cost guidance for 2013.

2012 Operating Highlights:

Exceeded silver production guidance: Produced 8.6 million ounces of silver in 2012, exceeding the high-end of the guidance range. Produced 11.2 million pounds of zinc, near the high-end of 2012 guidance.

Delivered strong operating performance: Milled 4,433 tonnes per day, on average, during 2012, 11% above nominal design. Silver recovery averaged 76% during 2012.

Created value: Drilled over 53,000 meters at Pirquitas during 2012, aggressively exploring the Cortaderas Breccia and Cortaderas Valley targets. Executed the Company's sales strategy, signing sales agreements with smelters, improving margins and building a strong customer base for 2013.
"In 2012, our team delivered on its commitments," said John Smith, President and CEO. "At Pirquitas, we exceeded the high-end of our silver production guidance range, producing a record 8.6 million ounces and delivered on our sales strategy. Exploration remains key to our business model, and we continue to focus on adding value through the drill bit. In the fourth quarter, we completed the Pitarrilla Feasibility Study, defining a mine with approximately 480 million ounces of reserves and producing 15 million ounces of silver per year on average during the first 18 years of a 32-year project."

Summary of Mine Operating Statistics

Q4 2012 Q3 2012 % Change
Total material mined Kt 4,415 4,333 1.9%
Ore processed Kt 417 404 3.2%
Silver mill feed grade g/t 212 214 (0.9%)
Zinc mill feed grade % 0.67 0.65 3.1%
Silver recovery % 79.9 77.7 2.8%
Zinc recovery % 42 39 7.7%
Silver produced '000 oz 2,268 2,163 4.9%
Zinc produced '000 lbs 3,176 2,770 14.7%
Silver ounces sold '000 oz 3,218 2,770 16.2%
Zinc pounds sold '000 lbs 2,731 2,152 26.9%
Note: Percent changes are calculated using rounded numbers presented in the table.

Mine Operations

During 2012, the Pirquitas mine produced a record 8.6 million ounces of silver. The mine produced 2.3 million ounces of silver during the fourth quarter, 4.9% quarter-on-quarter improvement reflecting higher average silver recoveries in the plant and higher mill throughput. The mine also produced 3.2 million pounds of zinc in the fourth quarter, bringing total zinc production to 11.2 million pounds for the year, near the high-end of the 2012 zinc production guidance range.

Approximately 417,000 tonnes of ore were milled at an average rate of 4,531 tonnes per day during the quarter, 13% above the plant's nominal design. On an annual basis, the mill processed 4,433 tonnes per day during 2012.

Ore milled during the fourth quarter of 2012 contained an average silver grade of 212 g/t, in line with the 214 g/t reported for the third quarter. The average recovery rate for silver increased to 79.9% from 77.7% in the third quarter.

Outlook for 2013

Silver Standard's estimated production and cost guidance for 2013 are as follows:

Produce and sell 8.2 to 8.5 million ounces of silver.
Produce over 20 million pounds of zinc.
Total cash cost of between $17.00 and $18.50 per silver ounce.
Capital expenditures of $25 million at Pirquitas, including approximately $15 million for a tailings facility expansion but excluding capitalized stripping costs.
Expenditures of $15 million for exploration across the Company's portfolio.
Expenditures of $17 million for development.
Silver Standard plans to spend approximately $15 million on exploration in 2013. Of this, approximately $7 million is budgeted for exploration at our Mexican projects, with the balance mainly budgeted for Argentina and Peru. The Company may increase its exploration budget or redirect exploration spending in response to positive results.

The Company expects to spend a minimum of $17 million on development in 2013. Of this, approximately $8 million and $7 million will be incurred at the Pitarrilla and San Luis projects, respectively, in line with our goal of advancing these projects to construction decisions. Should construction decisions be made, development expenditures would increase significantly. Planned investments in advance of construction decisions include optimization, land acquisition, community agreements, permitting and financing.

John Smith, President and CEO of Silver Standard, commented on the Company's 2013 guidance, "Following a strong 2012, we continue to focus on delivering strong and predictable results at Pirquitas. In the first half of the year we are moving from Phase 1 to Phase 2 of the San Miguel open-pit. Due to ore and stockpile sequencing, we plan to produce approximately 2 million ounces of silver in the first quarter of 2013 with production strengthening as we move through the year. At the same time, our team will continue with permitting, engineering and partnering activities at Pitarrilla. We remain focused on progressing towards a construction decision."

Silver Standard is required to adopt the accounting standard IFRIC 20 "Stripping Costs in the Production Phase of a Surface Mine" effective January 1, 2013. The Company estimates that the adoption of IFRIC 20 will result in the capitalization of approximately $24 million of mining costs in 2013 that will be amortized in subsequent periods.

Changes to the Presentation of Non-GAAP Financial Measures

Commencing with its 2012 annual filings, Silver Standard plans to revise its non-GAAP "total cash cost" and "total production cost" disclosure methodology. Under the revised methodology, the Company will report total cash cost and total production cost on a "per payable ounce sold" basis, rather than on a per ounce produced basis as reported previously. Silver concentrate export duties that are being accrued but not paid will be reallocated to total cost to reflect their non-cash nature as the Company has an order in its favor against their payment.

Total cash cost will consist of the cost of inventory, third party smelting, refining and transportation and royalties less by-product credits. Total production cost will consist of total cash cost plus depreciation, depletion, amortization (including amortization of deferred stripping costs) and silver concentrate export duties. The divisor for both measures is payable silver ounces sold in the period.

The 2013 total cash cost guidance incorporates these changes.



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Messagessri perd 5 % alors que les métaux rebondissent
par marie Jeu 10 Jan 2013 - 16:05

ils ont eu la bonne idée de demander un financemment de 200 millions de $ avec des senior notes convertibles : offre cloturée le 16 janvier prochain



VANCOUVER , Jan. 10, 2013 /CNW/ - Silver Standard Resources Inc. (NASDAQ: SSRI, TSX: SSO) ("Silver Standard" or the "Company") announced today that it is offering US$200 million aggregate principal amount of convertible senior notes due 2033 (the "Notes") pursuant to private placement exemptions. The Company intends to use up to approximately US$138 million of the net proceeds from the sale of the Notes to repurchase or redeem its existing convertible notes in March 2013 and the remaining net proceeds for general corporate purposes, which may include developing or advancing its property portfolio.

Silver Standard expects to grant the initial purchasers of the Notes an option to purchase up to an additional US$30 million aggregate principal amount of Notes at any time on or before the 30th day after the initial closing of the offering.

The final terms of the offering will be determined by Silver Standard and the initial purchasers. The Notes will bear cash interest semi-annually at a fixed rate and be convertible by holders into Silver Standard common shares at an initial conversion price higher than the closing share price on the day the offering is priced. Silver Standard currently expects that the Notes will be redeemable by Silver Standard in certain circumstances and Silver Standard also expects that holders may require Silver Standard to repurchase their Notes at certain times.

The offering of Notes is expected to close, subject to market conditions and the satisfaction of closing requirements, on or about January 16, 2013 .

The Notes, and the common shares into which the Notes are convertible (the "Shares"), have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or qualified by a prospectus in Canada. The Notes and the Shares may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from registration under the Securities Act. The Notes will be offered only to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) and outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. Offers and sales in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian provincial securities laws.

This news release is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.





http://finance.yahoo.com/news/silver-standard-launches-offering-us-124400960.html



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MessageBon, c'est fait l'émission de convertibles est terminée, ouf...
par g.sandro Jeu 17 Jan 2013 - 2:08

Bon, c'est fait l'émission de convertibles est terminée, ouf...
January 16, 2013 News Release 13-05


SILVER STANDARD COMPLETES US$250,000,000 CONVERTIBLE SENIOR
NOTES OFFERING


VANCOUVER, B.C. -- Silver Standard Resources Inc. (NASDAQ: SSRI, TSX: SSO) (“Silver Standard” or the “Company”) announced today the closing of its previously announced offering of US$250 million aggregate principal amount of 2.875% convertible senior notes due in 2033 (the “Notes”). The initial conversion rate for the Notes is 50 common shares per US$1,000 principal amount of the Notes, equivalent to an initial conversion price of US$20.00 per common share. The Company intends to use up to approximately US$138 million of the net proceeds from the sale of the Notes to repurchase or redeem its existing convertible notes in March 2013 and the remaining net proceeds for general corporate purposes, which may include developing or advancing its property portfolio.

Silver Standard has granted the initial purchasers of the Notes an option to purchase up to an additional US$37.5 million aggregate principal amount of Notes at any time on or before the 30th day after closing.

The Notes, and the common shares into which the Notes are convertible (the “Shares”), have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or qualified by a prospectus in Canada. The Notes and the Shares may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from registration under the Securities Act. The Notes were offered only to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) and outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. Offers and sales in Canada were made only pursuant to exemptions from the prospectus requirements of applicable Canadian provincial securities laws.

This news release is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.



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MessageSilver Standard Résultats du quatrième trimestre et de fin d'année 2012
par g.sandro Ven 1 Mar 2013 - 8:41

Silver Standard Résultats du quatrième trimestre et de fin d'année 2012

C'est du bon... enfin, pas mal compte tenu de l'importance de certains postes de charges non 'ou peu' récurrentes

et le rythme de croissance du dernier trimestre 2012 est éminemment prometteur pour 2013

je plane pour toi amur clap clap ye.s aaarf helllo

http://ir.silverstandard.com/releasedetail.cfm?ReleaseID=744361



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MessageLes comptes beaucoup plus détaillés
par g.sandro Sam 2 Mar 2013 - 14:18


Les comptes beaucoup plus détaillés.

il faut bien comprendre que Pitarilla est une mine dont l'espérance de vie a été programmée sur 32 ans et que, par définition, les investissements initiaux, qui sont lourds au début, constituent une grosse charge mais qui va voir son importance se diluer au fil des années et ce, au grand bénéfice de la rentabilité...bref, on paye d'avance le poulailler, les coqs et les jeunes pondeuses...mais pendant 32 ans on aura des oeufs....et comme la plupart des réserves de Silver (les oeufs des autres poulaillers) seront épuisées bien avant 32 ans, je ne vous raconte même pas l'évolution du prix des oeufs... MIAM à table !
Pour Pirquitas seule, on vient de payer rien moins que 142 forages soit 52800m de carottage, ça a coûté la peau des rouleaux...mais cette phase est terminée...Bon, ok, il reste 7000 m à creuser en 2013 et ça va encore coûter du pognon, MAIS le pourcentage de réserves NOUVELLES qui sont en train de basculer de possibles à probables et de probables à prouvées est réjouissant, carrément en haut de la fourchette des prévisions optimistes ( sans même parler du ZINC dont les réserves et la production sont en train d'exploser littéralement à la hausse, et il n'y a pas de raison que les 7000 m supplémentaires soient décevants.

si vous avez des commentaires et des observations vos contributions sont, bien entendu, les bienvenues


il y a absolument tout dans les liens qui suivent: compte de résultat, bilan, état des réserves prouvées, probables et possibles, bref, de quoi occuper les plus compétents d'entre-vous:[/b]


http://ir.silverstandard.com/secfiling.cfm?filingid=1445305-13-439

http://apps.shareholder.com/sec/viewerContent.aspx?companyid=SSRI&docid=9131222#A2012Q4NEWSRELEASE_HTM

http://apps.shareholder.com/sec/viewerContent.aspx?companyid=SSRI&docid=9131222#FORM13-502F12012YE_HTM

http://apps.shareholder.com/sec/viewerContent.aspx?companyid=SSRI&docid=9131222#A2012Q4MDA_HTM

pour les puristes:

http://apps.shareholder.com/sec/viewerContent.aspx?companyid=SSRI&docid=9131222#A2012Q4FINANCIALSTATEMENTS_HTM


Silver Standard Resources Inc
Aux états financiers consolidés
31 décembre 2012 et 2011

TABLE DES MATIÈRES

États financiers



États consolidés de la situation financière

États consolidés des résultats

États consolidés du résultat étendu

États consolidés des variations des capitaux propres

États consolidés des flux de trésorerie



Notes afférentes aux états financiers consolidés



Note 1 - Nature des opérations

Note 2 - Résumé des principales conventions comptables



États de la situation financière

Note 3 - Trésorerie et équivalents de trésorerie

Note 4 - Créances clients et autres créances

Note 5 - Autres actifs

Note 6 - Inventaire

Note 7 - Immobilisations corporelles

Note 8 - Titres mis en équivalence

Note 9 - Impôts courants et différés

Note 10 - Valeur ajoutée créance d'impôt

Note 11 - Fournisseurs et autres créditeurs

12 Remarque - Responsabilité Mandat

Note 13 - Fermer le bas et la fourniture de restauration

Note 14 - Obligations convertibles



Déclarations des capitaux propres

Note 15 - Capital social et des paiements en actions

Note 16 - Autres réserves



Compte de résultat

Note 17 - Coûts d'exploitation par nature

Note 18 - Revenus et charges financiers

Note 19 - Autres revenus (autres charges)

Note 20 - Résultat par action



Informations supplémentaires à fournir

Note 21 - Secteurs opérationnels

Note 22 - Instruments financiers

Note 23 - Gestion des risques financiers

Opérations entre apparentés - Note 24

Note 25 - Informations supplémentaires sur les flux de trésorerie






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Messageévolution des coûts de production de SSRI
par contact.lecteurs Dim 10 Mar 2013 - 14:56

Citation :
évolution des coûts de production de SSRI
Une analyse
intéressante qui montre qu'il faut soigneusement analyser les comptes pour
identifier les couts réels et les tendances : SSRI doit encore faire des efforts
pour baisser ses couts de production par rapport à ses compétiteurs mais
l'évolution récente semble aller dans ce sens

http://seekingalpha.com/article/1259281-what-it-really-costs-to-mine-silver-the-silver-standard-resources-edition?source=yahoo

Serge


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MessageRe: SSRI /silver standard ressources / fil dédié
par g.sandro Dim 17 Mar 2013 - 13:52

Merci c'est très intéressant car, en effet, les "anomalies non récurrentes" qu'elles aient été positives ou négatives contribuaient à opacifier les chiffres communiqués.

Je me permets toutefois d'ajouter un bémol à cet excellent et précieux travail de retraitement:
il tient à ce que, contrairement à des mines matures comme PAAS, CDE, HL etc...SSRI n'a jamais caché qu'elle avait concentré l'immense majorité de ses efforts et donc de ses moyens, à développer la taille ( désormais impressionnante) de ses ressources et réserves.

Dès lors, il est crucial d'intégrer le fait que peu de ses actifs sont entrés en production alors qu'une quantité considérable de ces mêmes actifs miniers ont été forés et validés en vue d'une mise en production ultérieure qui commence donc seulement à monter en puissance.

c'est une caractéristique qui, forcément, vient plomber notablement les coûts par once produite dans la mesure où les investissements, même s'ils ont été consentis dans une optique de long, voire de très long terme, n'ont pas encore commencé, ou à peine, à produire leurs fruits.

Imaginons la métaphore avec une oliveraie ou un verger dont le propriétaire, qui détenait de longue date quelques centaines d'arbres productifs, aurait récemment planté des milliers d'arbres jeunes.

Il aurait à faire face au coût d'achat, de transport, de plantation, d'irrigation, de ces jeunes arbrisseaux, mais ces coûts, une fois additionnés aux coûts pré-existants et divisés par le nombre de litres d'huile d'olive (ou de fruits du verger) produits sur l'année par les seules arbres déjà matures, donc les anciens, ne seraient pas représentatifs de la politique de développement menée; en effet, il y a fort à parier que l'addition puis la division, purement et brutalement arithmétiques de ces données aboutiraient à la conclusion que son litre d'huile ou son kilo de fruit produit l'année en cause a été très coûteux à produire...mais ce faisant, c'est le futur de la plantation qui aura été assuré et ses ressources futures qui en auront été dopées...

Ces coûts n'étant, pour la plupart, pas récurrents, vont, à terme (mais à terme seulement), permettre de multiplier la récolte par X et quand l'investissement consenti sera divisé par des dizaines de millions de fruits et non plus des centaines de milliers, le coût unitaire du fruit produit chutera dans des proportions aussi spectaculaire que la hausse des profits de l'exploitation

Si mon exemple vous paraît perfectible, je suis tout à fait ouvert au débat...SSRI est clairement inscrite dans une démarche de ce type et cette orientation la rend atypique et, de fait, peu sexy en comparaison de données brutes sur une année donnée, mais si j'ai raison, le delta va se resserer puis s'inverser pour notre plus grande satisfaction...



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Messagechiffres et commentaires sur le 1er trimestre 2013
par g.sandro Ven 12 Avr 2013 - 4:31



Citation :
Silver Standard provides Q1 2013 operational results‏

Silver Standard Resources Inc. (newsdesk@broadcast.shareholder.com)Planifier le nettoyage 02:37 Bulletins
À : giacomo sandro


Silver Standard provides Q1 2013 operational results


VANCOUVER, April 11, 2013 /PRNewswire/ - Silver Standard Resources Inc. (TSX: SSO), (NASDAQ: SSRI) ("Silver Standard" or the "Company") provided a Q1 2013 operational update for its Pirquitas mine in Jujuy, Argentina and for other corporate activities.

First Quarter 2013 Highlights:

Delivered predictable production: Produced 2.0 million ounces of silver, in line with plan for the quarter.
Completed Phase 1 of the San Miguel open pit: Progressed mining operations in Phase 2 of the San Miguel open pit, positioning the Company to process higher grade material in the second half of 2013.

Delivered strong operating performance: Milled 4,402 tonnes per day, on average, 10% above nominal design. Recovered 76% of the silver processed.
"In the first quarter of 2013, we delivered to plan as we did throughout 2012," said John Smith, President and CEO. "At Pirquitas, we produced 2 million ounces of silver, a great result given that we are transitioning the pit to Phase 2. We also took advantage of the strong debt markets and raised $265 million through a convertible bond, strengthening our balance sheet even after repaying the existing convertible note. It was a successful quarter for Silver Standard."

Summary of Mine Operating Statistics

Q1 2013 Q4 2012 % Change
Total material mined Kt 4,210 4,415 (4.6%)
Ore milled Kt 396 417 (5.0%)
Silver mill feed grade g/t 207 212 (2.4%)
Zinc mill feed grade % 0.92 0.67 37.3%
Silver recovery % 76.3 79.9 (4.5%)
Zinc recovery (zinc concentrate) % 41 42 (2.4%)
Silver produced '000 oz 2,017 2,268 (11.1%)
Zinc produced (zinc concentrate) '000 lbs 3,323 2,615 27.1%
Silver sold '000 oz 2,018 3,218 (37.3%)
Zinc sold '000 lbs 2,147 2,731 (21.4%)
Note: Percent changes are calculated using the rounded numbers presented above.

Mine Operations

The Pirquitas mine produced 2.0 million ounces of silver during the first quarter of 2013, in line with guidance for the quarter but down from the 2.3 million ounces produced in the fourth quarter of 2012. The sequential decline in silver production reflects lower tonnage through the mill and lower recoveries in the plant. The mine also produced 3.3 million pounds of zinc in the first quarter, a 27.1% improvement, reflecting higher zinc grades as the Company mined more of the zinc-rich Potosi area of the San Miguel open pit. The Company sold approximately 2.0 million ounces of silver during the quarter, in line with guidance.

Approximately 396,000 tonnes of ore was milled during the first quarter of 2013, down from 417,000 tonnes last quarter mostly due to fewer operating days in a shorter reporting period. Ore was milled at an average rate of 4,402 tonnes per day during the first quarter, 10% above the plant's nominal design and in line with the production plan. The average recovery rate for silver decreased to 76.3% from 79.9% last quarter, mainly due to more oxidized and transitional ore in the mill feed. As Phase 2 of the San Miguel open pit deepens, the proportion of oxide and transitional ore in the mill feed is expected to decrease.

First Quarter Earnings Release:

The Company plans to issue its first quarter earnings release on Wednesday, May 8, 2013 after markets close.

Qualified Person:

The scientific and technical data contained in this news release has been reviewed and approved by the following Qualified Person ("QP") under National Instrument 43-101, who consents to having his name included in this news release.

Andrew W. Sharp, BEng., FAusIMM: Mr. Andrew W. Sharp, who has been employed by the Company as Vice President of Technical Services since September 2011, is the Qualified Person responsible for the technical content of this news release.
SOURCE: Silver Standard Resources Inc.

To receive Silver Standard's news releases by e-mail, please register using the Silver Standard website at www.silverstandard.com.



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MessageRe: SSRI /silver standard ressources / fil dédié
par g.sandro Sam 13 Avr 2013 - 1:28

pour visualiser le tableau ( plus lisible et plus agréable)

http://ir.silverstandard.com/secfiling.cfm?filingid=921638-13-11



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MessageSilver Standard Reports First Quarter 2013 Results tableaux et webcast
par g.sandro Jeu 9 Mai 2013 - 4:44

Upcoming Events 5/9/2013
First Quarter 2013 Financial Results and Project Update

Les tableaux et commentaires c'est là ==> http://ir.silverstandard.com/releasedetail.cfm?ReleaseID=763332

et pour écouter le webcast c'est là ==> http://ir.silverstandard.com/events.cfm




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MessageLà, il y a absolument TOUT...tableaux etc...Filed 05/09/13 for the Period Ending 03/31/13
par g.sandro Ven 10 Mai 2013 - 14:54

Là, il y a absolument TOUT...tableaux etc...Filed 05/09/13 for the Period Ending 03/31/13

http://files.shareholder.com/downloads/SSRI/2234203406x7079273xS921638-13-13/921638/921638-13-13.pdf



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Message Potentiel de développement de SSRI
par contact.lecteurs Jeu 30 Mai 2013 - 14:18

Potentiel de développement de SSRI
Citation :

Bonjour, Deux articles intéressants concernant les coûts de production "réels"
de SSRI et l'exposition au risque-pays de SSRI. On retiendra qu'avec le prix
actuel du silver, SSRI avec un coût total de 29$/oz au 1er trimestre 2013 est en
territoire dangereux.
http://seekingalpha.com/article/1447601-what-it-really-costs-to-mine-silver-the-first-quarter-silver-standard-resources-edition?source=yahoo
Pour autant, la trésorerie semble suffisante et surtout, même si le risque-pays
semble très élevé aujourd'hui puisque les seuls revenus proviennent de la mine
de Pirquitas en Argentine, les revenus devraient considérablement augmenter dès
fin 2013 avec l'entrée en production du site géant de Pitarilla au Mexique.

http://seekingalpha.com/article/1462041-exposure-to-country-risk-the-silver-standard-edition?source=yahoo
Comme Sandro l'a bien souligné, c'est une pépite qui est injustement
sous-évaluée. Hier SSRI gagnait plus de 9%...
Serge


Pour toutes suggestions / questions /  infos à partager sur nos forums publics: Argent Or
N'hésitez pas à m'en faire part Ici  

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MessageRe: SSRI /silver standard ressources / fil dédié
par g.sandro Ven 31 Mai 2013 - 0:15

Citation :
Comme Sandro l'a bien souligné, c'est une pépite qui est injustement
sous-évaluée. Hier SSRI gagnait plus de 9%...

Oui serge, et encore +7% ce soir... je plane pour toi tchin clap clap ye.s



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MessageSilver Standard provides Q2 2013 operational results
par g.sandro Ven 12 Juil 2013 - 0:47

http://ir.silverstandard.com/releasedetail.cfm?ReleaseID=776582 

July 11, 2013
Silver Standard provides Q2 2013 operational results


VANCOUVER, July 11, 2013 /PRNewswire/ - Silver Standard Resources Inc. (NASDAQ: SSRI, TSX: SSO) (the "Company") provided a second quarter 2013 operational update for its Pirquitas mine in Jujuy, Argentina.

Second Quarter 2013 Operating Highlights:


  • Delivered silver production and sales to plan:  Produced 1.9 million ounces of silver, in line with plan for the quarter and on track to achieve full year production guidance. Sold 2.2 million ounces of silver.



  • Produced record 5.6 million pounds of zinc: Second quarter zinc production represented a 68% quarter-on-quarter improvement due to higher zinc grades and plant recoveries.



  • Progressed San Miguel Phase 2 open pit transition: Positioning the Company to process higher grade material in the second half of 2013.



  • Delivered operating performance:  Managed operating variation from blended ore mix to achieve mill performance of 4,009 tonnes per day, on average, consistent with nominal design.       



"Pirquitas is advancing to schedule through the pit transition and, despite the variability of feed to the mill, we achieved quarterly production of 1.9 million ounces of silver," said John Smith, President and CEO. "As we progress, we will access higher grade sulphide ore, supporting our forecast of stronger performance through the second half of 2013.  Concurrently, a formal restructuring program aimed at reducing costs and increasing production recoveries is in progress.  We are focused on Pirquitas delivering through this part of the resource cycle."

Summary of Mine Operating Statistics

  Q2 2013Q1 2013% Change
Total material minedKt4,4714,2106.2%
Ore milledKt365396(7.8%)
Silver mill feed gradeg/t2162074.3%
Zinc mill feed grade%1.530.9266.3%
Silver recovery%74.876.3(2.0%)
Zinc recovery (zinc concentrate)%464112.2%
Silver produced'000 oz1,8902,017(6.3%)
Zinc produced (zinc concentrate)'000 lbs5,5893,32368.2%
Silver sold'000 oz2,2072,0189.4%
Zinc sold (zinc concentrate)'000 lbs2,2172,1473.3%

NotePercent changes are calculated using the rounded numbers presented above. 

Mine Operations

The Pirquitas mine produced 1.9 million ounces of silver during the second quarter of 2013, in line with expectations for the quarter but down from the 2.0 million ounces produced in the first quarter of 2013.  The sequential decline in silver production reflects planned lower tonnage through the mill and lower plant recoveries due to the nature of the transitional ore processed.  The second quarter of 2013 was expected to be the most difficult quarter for the mine and stronger results through the end of the year are forecast.  In the first half of 2013, the mine produced 3.9 million ounces of silver, on track to achieve production guidance for the year.  The Company sold 2.2 million ounces of silver during the second quarter, consistent with our plan to match annualized production and sales.

The mine also produced 5.6 million pounds of zinc from zinc concentrate in the second quarter, a 68% improvement quarter-on-quarter and the highest quarterly production result in the history of the mine. This record zinc production reflects higher zinc grades and plant recoveries as the Company mined more of the zinc-rich Potosi area of the San Miguel open pit.

Approximately 365,000 tonnes of ore were milled during the second quarter of 2013, compared to 396,000 tonnes in the first quarter. Contributing to this was the planned maintenance shutdown for ball mill reline.  Ore was milled at an average rate of 4,009 tonnes per day, notwithstanding the variation in ore types as a result of the phase transition in the open pit. This is in line with the plant's nominal design and compares to an average milling rate of 4,402 tonnes per day in the first quarter. Ore milled contained an average silver grade of 216 g/t, 4% higher than the 207 g/t reported in the first quarter. The average recovery rate for silver decreased to 74.8% from 76.3% in the previous quarter, mainly due to more oxidized and transitional ore in the mill feed.  As Phase 2 of the San Miguel open pit deepens, the proportion of oxide and transitional ore in the mill feed is expected to decrease.

Second Quarter Earnings Release

The Company plans to issue its second quarter earnings release on Wednesday, August 7, 2013 after markets close.

Qualified Person

The scientific and technical data contained in this news release has been reviewed and approved by the following Qualified Person ("QP") under National Instrument 43-101, who consents to having his name included in this news release.


  • Andrew W. Sharp, BEng., FAusIMM: Mr. Andrew W. Sharp, who has been employed by the Company as Vice President, Technical Services since September 2011, is the QP responsible for the technical content of this news release.



To receive Silver Standard's news releases by e-mail, please register using the Silver Standard website at www.silverstandard.com.

Cautionary Note Regarding Forward-Looking Statements:

Statements in this news release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of Canadian securities laws (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements. Generally, forward-looking statements can be identified by the use of words or phrases such as "expects," "anticipates," "plans," "projects," "estimates," "assumes," "intends," "strategy," "goals," "objectives," "potential" or variations thereof, or stating that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The forward-looking statements in this news release relate to, among others, the higher grade material expected to be processed during Phase 2 of the San Miguel open pit. These forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including: uncertainty of production and cost estimates for the Pirquitas mine; future development risks, including start-up delays and operational issues; lack of suitable infrastructure or damage to existing infrastructure; increased costs and restrictions on operations due to compliance with environmental laws and regulations; unpredictable risks and hazards related to the development and operation of a mine or mine property that are beyond the Company's control; operational safety and security risks; and political, financial, social, legal or economic developments or changes in Argentina. See the Company's most recent Form 40-F and Annual Information Form filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities for a discussion of other risks and uncertainties that may affect the Company's forward-looking statements.

The Company's forward-looking statements are based on what the Company's management considers to be reasonable assumptions, beliefs, expectations and opinions based on the information currently available to it. Assumptions have been made regarding, among other things: the Company's ability to carry on its exploration and development activities; the price of the minerals the Company produces; the costs of operating and exploration expenditures; the Company's ability to operate in a safe, efficient and effective manner; the Company's ability to obtain financing as and when required and on reasonable terms; and the Company's ability to continue operating the Pirquitas mine. The Company cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. The Company's forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

 
W. John DeCooman, Jr.
Vice President, Business Development and Strategy
Silver Standard Resources Inc.
Vancouver, B.C.
N.A. toll-free: (888) 338-0046
All others: (604) 689-3846
E-Mail: invest@silverstandard.com

SOURCE Silver Standard Resources Inc.



News Provided by Acquire Media



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Messagetrès instructive cette analyse: What It Really Costs To Mine Silver: The Silver Standard Resources Edition
par g.sandro Lun 9 Sep 2013 - 23:55




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MessageSilver Standard: prix de la valeur de liquidation
par g.sandro Sam 12 Oct 2013 - 0:04

Silver Standard: prix de la valeur de liquidation


 Quand on vous dit que c'est une anomalie....

http://seekingalpha.com/article/1740382-silver-standard-priced-at-liquidation-value?source=email_rt_article_readmore



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MessageSilver Standard Rapports Résultats Troisième Trimestre 2013, pas mal compte tenu du contexte
par g.sandro Mer 6 Nov 2013 - 3:45

Silver Standard Rapports Résultats Troisième Trimestre 2013, pas mal compte tenu du contexte

http://finance.yahoo.com/news/silver-standard-reports-third-quarter-005500716.html



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