Key Developments: Silver Standard Resources Inc (SSRI.O)
6.30USD
17 May 2013
$-0.22 (-3.37%)
$6.52
$6.44
$6.47
$6.27
1,496,031
1,245,038
$16.92
$6.27
Latest Key Developments (Source: Significant Developments)
Silver Standard Resources Inc Reaffirms FY 2013 Production Guidance
Silver Standard Resources Inc reaffirmed fiscal 2013 guidance and expects to produce and sell between 8.2 and 8.5 million ounces of silver and produce over 20 million pounds of zinc. Full Article
Silver Standard Resources Inc Announces Closing Of Over Allotment Of Convertible Senior Notes
Silver Standard Resources Inc announced that the closing of $15 million aggregate principal amount of 2.875% convertible senior notes due 2033 (the Notes) pursuant to the partial exercise of the over-allotment option granted to the initial purchasers of the Notes in connection with Silver Standard's previously announced offering of $250 million of Notes, which closed on January 16, 2013. The initial conversion rate for the Notes is 50 common shares per $1,000 principal amount of the Notes, equivalent to an initial conversion price of $20.00 per common share. The Company intends to use up to approximately $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. Full Article
Silver Standard Resources Inc Completes $250,000,000 Convertible Senior Notes Offering
Silver Standard Resources Inc announced the closing of its previously announced offering of $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 $1,000 principal amount of the Notes, equivalent to an initial conversion price of $20.00 per common share. The Company intends to use up to approximately $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. 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. Full Article
Silver Standard Resources Inc Prices Offering Of USD250 Million Of Convertible Senior Notes
Silver Standard Resources Inc announced that it has priced its previously announced offering of convertible senior notes due 2033. The Company increased the offering to USD250 million from USD200 million aggregate principal amount (or approximately USD287.5 million aggregate principal amount if the over-allotment option is exercised in full). The notes will be issued at par value. The Company intends to use up to approximately USD138 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. The offering is expected to close on or about January 16, 2013. Full Article
Silver Standard Resources Inc Launches Offering Of USD200 Million Of Convertible Senior Notes
Silver Standard Resources Inc announced that it is offering USD200 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 USD138 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 USD30 million aggregate principal amount of Notes at any time on or before the 30 th 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 . Full Article
Silver Standard Resources Inc Issues FY 2013 Production Guidance
Silver Standard Resources Inc announced that for fiscal 2013, it expects produce and sell 8.2 to 8.5 million ounces of silver and produce over 20 million pounds of zinc. Full Article
Silver Standard Resources Inc Reaffirms FY 2012 Production Guidance
Silver Standard Resources Inc announced that for fiscal 2012, it maintains production guidance between 8.2 and 8.5 million ounces of silver and between 10.5 and 11.5 million pounds of zinc. Full Article
Prospero Silver corp Signs Non-Binding Letter Of Intent With Silver Standard Resources Inc.
Prospero Silver corp announced that it has signed a non-binding Letter of Intent with Silver Standard Resources Inc. for an option to joint venture agreement covering Prospero's San Luis del Cordero property in central Durango State, Mexico. Silver Standard is conducting due diligence on the property, and the parties are negotiating the terms of the definitive agreement, which is expected to take approximately one month to complete. Under the terms of the Letter of Intent, Silver Standard has the option to earn a 51% interest within three years by incurring total property expenditures of $3.5 million, including a minimum of 4,000 meters of drilling in Year one, and total cash payments of $1.5 million. Upon Silver Standard earning a 51% interest, the initial joint venture program shall have a minimum program cost of $4 million and require, within 36 months, the preparation of a pre-feasibility level study on the property. The Letter of Intent also contains provisions relating to additional joint venture exploration and development programs, including the dilution of a joint venture partner's participating interest if such partner does not fund its portion of a program. Full Article
Silver Standard Resources Inc Reaffirms FY 2012 Production Guidance
Silver Standard Resources Inc announced that for fiscal 2012, the Company retains production guidance of between 8.2 and 8.5 million ounces of silver, 10.5 and 11.5 million pounds of zinc. Full Article
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