The board of directors of Silver Standard Resources Inc. has announced that they will hold discussions with their shareholders to change their company’s name to SSR Mining Inc.
The company is a producer of precious metals in Canada owning and operating several mines in and outside the country, including the Seabee Gold Operation in Saskatchewan, Marigold near Imlay, Michigan, and the Pirquitas in Jujuy Province, Argentina.
Now, based on their primary operation which is gold mining, the company plans to change its name, which is expected to be approved during its upcoming annual meeting on May 4. Silver Standard president and CEO Paul Benson said:
“With gold representing approximately 70 percent of our revenue, the current name does not accurately reflect our business. We have evolved from a silver-focused producer to an intermediate precious metals producer with three mines in the Americas. The proposed name, which includes the initials of our existing name, is a natural evolution in our more than 70-year history. While we are recommending a change to our name, our relentless focus on creating shareholder value remains.”
Should the company’s name be changed to SSR Mining, it plans to change its Toronto Stock Exchange and Nasdaq Global Market ticker symbol to “SSRM”. Also, it would change its web domain to www.ssrmining.com.