Silver Standard Resources Inc. (SSO.TO) has produced 8.6 million ounces of silver in 2012, exceeding the high-end of the guidance range. It has also produced 11.2 million pounds of zinc, near the high-end of 2012 guidance.
The company has also provided estimated production and cost guidance for 2013. It plans to spend approximately $15 million on exploration in 2013. Of this, approximately $7 million is budgeted for exploration at our Mexican projects, with the balance mainly budgeted for Argentina and Peru.
It expects to produce and sell 8.2 to 8.5 million ounces of silver. It also sees production of over 20 million pounds of zinc.
SSO went up by nearly 4% to $14.85, hitting day highs. Volume traded is over 48,000.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
