BMO Capital Markets Reiterates Perform, $18.50 on Silver Standard Resources

BMO Capital Markets maintains its Perform rating and $18.50 price target on Silver Standard Resources SSRI as the company provides a resource update for its Pitarrilla project. BMO Capital Markets says, "Details released on SSRI's development strategy provide investors a clearer understanding of the future sizing and production potential for Pitarilla. The expanded development scenario for Pitarilla is significantly larger than the underground development outlined in the Q3/09 pre-feasibility study. BMO Research currently models a mineable resource of 77Moz silver based on the sulphide resources and a 4.0ktpd underground operation." SSRI closed at $16.74 a share on Friday.