Silver Standard Highlights Marigold Acquisition in Q2 Results Release

Silver Standard Resources Inc. (TSX:SSO,NASDAQ:SSRI) announced its consolidated financial results for the second quarter of 2014, commenting that one highlight for the period is its acquisition of the Marigold gold mine.

Other highlights include:

• Lowered cash cost guidance at Pirquitas:  Reported cash costs of $12.18 per payable ounce of silver sold, with continued strong performance, enabling lowered cash cost guidance of $12.00 to $13.00 per payable ounce of silver sold for 2014.
• Cost reduction plans at Marigold delivering:  Reported cash costs of $1,103 per payable ounce of gold sold. Operating efficiencies improving on load and haul fleet.
• Delivered higher metals production: Produced 2.0 million ounces of silver, 22,060 ounces of gold and 9.3 million pounds of zinc, on track to meet production guidance for the year.
• Doubled quarterly revenue:  Revenue for the quarter totaled $64.3 million, compared to $33.7 million in the first quarter of 2014.

John Smith, president and CEO of Silver Standard, commented:

The second quarter marked an important time for Silver Standard’s future. With the acquisition of the Marigold mine complete, we have grown substantially to become the operator of two large open pit mines. Our silver-equivalent production and sales increased by 81% and 91%, respectively, compared to the first quarter and we are on track to achieve improved results for the remainder of 2014. We continue to focus on the optimization and life-of-mine plan for Marigold and consistent delivery at Pirquitas. With the addition of our second producing mine, a healthy balance sheet and proven management capability, we are positioned for further growth and success.

Click here to read the full Silver Standard Resources Inc. (TSX:SSO,NASDAQ:SSRI) press release.