Silver Standard Resources Inc. is considering a name change to SSR Mining Inc. The company will seek shareholder approval for the proposed name change at its annual and special meeting of shareholders on May 4.
"With gold representing approximately 70% of our revenue, the current name does not accurately reflect our business,” said Paul Benson, president and CEO, Silver Standard. “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.”
If the name change to SSR Mining is approved by shareholders, the company plans to change its Nasdaq Global Market and Toronto Stock Exchange ticker symbols to SSRM.
In related news, Silver Standard announced that Peter Tomsett has decided to retire from his role as chairman and return to Australia. The board of directors appointed A. E. Michael Anglin to assume the role of chairman, effective May 4, subject to his re-election. Anglin has served as a Silver Standard board member since 2008 and currently serves as the chair of the Safety and Sustainability Committee and a member of the Compensation Committee. He spent 22 years with BHP Billiton Ltd., most recently serving as vice president operations and chief operating officer of the Base Metals Group based in Santiago, Chile, before retiring in 2008.