Silver Standard Produces 2.0 Million Ounces of Silver at Pirquitas in Q1

Silver Standard Resources Inc. (TSX:SSO, NASDAQ:SSRI) announced operational updates for its Pirquitas mine in Jujuy, Argentina.

As quoted in the press release:

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.

Silver Standard’s President and CEO, John Smith, said:

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.

To view the whole press release, click here.