Van Sun salutes Silver Standard promoter Quartermain

2009-02-09 09:10 ET - In the News

The Vancouver Sun reports in its Saturday edition that Robert Quartermain has won this year's Murray Pezim for mineral-exploration financing. In a supportive tribute complete with grip-and-grin photo,

The Sun's Scott Simpson says Mr. Quartermain is about to join that rare group of promoter who has managed to transform their ambitions into hard assets.

The company he has run since 1984, Silver Standard Resources, is about to start silver production from its Pirquitas mine project in Argentina.

This will be Silver Standard's first producing mine. Analysts like the company, which boasts one of the industry's largest set of in-ground silver resources, and so do investors.

Pirquitas is expected to produce 10 million ounces of silver per year for 14 years at a cash cost under $4 (U.S.) per ounce once tin and zinc byproducts are credited, according to Salman Partners mining analyst Haytham Hodaly.

Silver Standard is covered by seven analysts.

Most say "buy."

As the Pezim Award from the Association for Mineral Exploration B.C. demonstrates, Mr. Quartermain gets a lot of the credit. He is quick to share the award with mentors and contemporaries who have helped him build his career, and his company.

Hg