Previous Page
Sector Spotlight
and is in fact quite rational given the magnitude of the recent development cycle. At Silver Standard, we employ a rigorous evaluation process involving both technical and economic analysis of all prospective projects. We will only proceed with projects that offer our shareholders the right balance between risk and return.
Q
Silver Standard says they will explore, advance and operate
quality precious metals projects in a professional, sustainable and safe manner. How do you achieve this?
Firstly, we have hired a highly seasoned team of experienced operators. Joe Phillips, our Sr. Vice President, Operations, has over 30 years of mining experience, much of which was gained in Latin America. Shortly after joining the team, Joe recruited experienced talent he knew from previous projects, including Andrew Sharp – our Vice President, Technical Services. Andrew has over 25 years of mining experience, including seven years living in Latin America, and is a leading mine planner. We also hired Bruce Kennedy to run Pirquitas in Argentina. Bruce, an American, is fluent in Spanish and has over 30 years of mining experience. With regards to safety and risk, we have Tony Horton, our Vice President, Safety and Risk Management, on board. Tony is Australian, and has over 30 years of experience at highly regarded mining firms including Placer Dome. Under Tony’s
leadership, we have implemented the “Safe for Life” program that is centred around risk and safety education and training with a key focus of individual empowerment. We are focused on safety excellence throughout all levels of the organization. Back at headquarters in Vancouver, Greg Martin recently joined the team as the CFO. Greg has held senior finance and corporate development roles at a number of mining and industrial companies.
So, as you can see, we have been building out our management team to assure we have the right skill sets in place.
Q
How would you increase shareholder value?
We are in a relatively unique position in that we have one of the world’s largest silver portfolios – currently over 189 million ounces of proven and probable silver reserves in the properties throughout the prime silver belts in Latin America and the USA. We plan to increase shareholder value by moving these properties through our decision funnel, developing those that offer the best economic returns to our shareholders.
What makes your company standout from others?
Silver Standard stands out in the market for a number of reasons.
Firstly, we own and operate one of the world’s largest open-pit primary silver mines. During recent quarters, our skilled management team has proven it can deliver consistent results in the face of challenging circumstances, including adverse weather conditions during the harsh winter months. We have resolved previous technical issues at the mine, and are on track to meet guidance for the year (8.2 - 8.5 million ounces of silver).
Secondly, our silver portfolio is second to none in the industry – giving us fantastic optionality when selecting our next project. We are currently completing a feasibility study at Pitarrilla in Mexico, a potentially large project with an expected 20 year mine life. We also have a great asset at San Luis in Peru. This is a relatively small project, but it is an exposed vein offering high IRR and a short payback period.
Finally, with over $350 million dollars of cash as of July 31, 2012, and a ~20% ownership stake in Pretium Resources – we have a strong balance sheet that positions us to develop projects. We now have the people in place, and the capabilities to do so.
Contact:
Silver Standard Resources Tel: 604-689-3846 Fax: 604-689-3847 Website: www.silverstandard.com