Silver Standard Res. : Silver Standard Announces Two Additional Long-Term Silver Concentrate Sales Contracts
07/11/2012| 05:48pm US/Eastern
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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/11/12 --
Silver Standard Resources Inc. (TSX: SSO)(NASDAQ: SSRI)
("Silver Standard" or the "Company")
announced today that it has signed two additional long term
silver concentrate sales contracts, completing its sales
strategy. The new contracts total approximately 500 tonnes of
silver concentrate per month and position the company to
begin drawing down excess silver concentrate inventory.
During the second half of 2012, the Company will sell silver
concentrate into four long term contracts and will continue
with spot sales. Shipments under the new contracts are
scheduled to begin in July.
"Having a diversified customer base consisting of direct
relationships with smelters and an industry leading metals
trader allows us to understand the market better and reduce
our transportation and refining costs," said John Smith,
President and CEO. "These contracts demonstrate once
again the market demand for our high quality product."
SOURCE: Silver Standard Resources Inc.
Cautionary Statements on Forward-Looking Information:
Statements in this news release are forward-looking
statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and forward-looking information
within Canadian securities laws (collectively
"forward-looking statements"). Forward-looking
statements are statements that are not historical facts and
that are subject to a variety of risks and uncertainties
which could cause actual events or results to differ
materially from those reflected in the forward-looking
statements. Such risks and uncertainties include, but are not
limited to, the acceptance and registration of the
concentrate sales agreements and related agreements and
documents in Argentina; the Company's ability to deliver
the tonnage and quality of silver concentrate required under
the sales agreements due to factors in and out of the
Company's control; the willingness and ability of the
counterparties to the sales agreements to purchase and pay
for the silver concentrates as set out in the sales
agreements; changes to import and export regulations in
Argentina and in the countries where Silver Standard is to
deliver the silver concentrates under the sales agreements;
changes in economic conditions or financial markets; changes
in prices for the Company's mineral products or increases
in input costs; uncertainty of production and cost estimates
for the Pirquitas Mine; risks and uncertainties associated
with new mining operations including delays and operational
issues; risks relating to the interpretation of drill results
and the geology, grade and continuity of our mineral
deposits; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments
in Argentina, Australia, Canada, Chile, Mexico, Peru, the
United States and other jurisdictions in which Silver
Standard may carry on business; technological and operational
difficulties or the delay, non-compliance or inability to
obtain permits encountered in connection with our properties;
labour relations matters; and changing foreign exchange
rates, all of which are described more fully in the
Company's most recent Form 20-F, and in the Management
Discussion and Analysis and in other filings with the
Securities and Exchange Commission and Canadian regulatory
authorities. The Company does not intend, and does not assume
any obligation, to update any forward- looking statements,
other than as required by applicable law.
To receive Silver Standard's news releases by e-mail,
contact Investor Relations at invest@silverstandard.com
or call (888) 338-0046.
The TSX has neither approved nor disapproved of the
information contained herein.
Source: Silver Standard Resources Inc.
News Provided by Acquire Media
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