Silver Standard Resources Inc. (TSX:SSO) has raised approximately US$134 million from an offering of unsecured convertible notes.
Proceeds from the offering will be used to finance a portion of the development costs of its Pirquitas silver project in northwestern Argentina.
Pirquitas, one of the company's main development projects, is expected to produce 9.6 million ounces of silver per year for approximately nine years.
Silver Standard's share price range during the past week: between $33.65 and $36.68; 52-week high: $45.58; 52-week low: $27.80.