VANCOUVER – Silver Standard Resources announced plans Monday to change its name to SSR Mining effective August 1.
Shareholders of the Canada-based precious metals producer approved a resolution May 4 to change the company name “to more accurately reflect our business focus,” said Paul Benson, president and CEO. “We have evolved from a silver-focused explorer to an intermediate precious metals producer with three mines in the Americas, two of which produce predominantly gold.”
In 2017, 80 percent of the company’s revenue will have come from gold production, including production from a site in Nevada. The company owns the Marigold Mine in Humboldt County. A five-year outlook for the site, published in September 2016, stated that the mine is expected to produce an average of 220,000 ounce of gold per year through 2021.
The domain name will change to www.ssrmining.com. Shares will continue to trade under the existing ticker symbols on the NASDAQ Capital Markets and the Toronto Stock Exchange until the SSR Mining ticker symbol “SSRM” becomes effective about August 3.
“We feel it is important to reflect our over 70-year history and, as such, our new name includes the initials of our existing name and builds on a strong brand, well-known by our stakeholders and the investment community,” Benson said. “The name SSR Mining represents our accomplishments and proud history.”
The company produces precious metals at the Seabee Gold Operation in Saskatchewan, Canada, and is a 75-percent owner and operator of Puna Operations joint venture in Jujuy Province, Argentina. The portfolio also includes two feasibility stage projects and exploration properties in North and South America.