Santacruz Silver Reports Q2 Revenues of $3.15 Million

Santacruz Silver Mining Ltd. (TSXV:SCZ) announced its financial and operating results for Q2 2015, commenting that it sold 247,135 silver equivalent ounces. The company also said that it generated revenues of $3.15 million.
Other highlights include:

• Gross profit from mining operations was $0.13 million
• Cash flow from mining operations was $0.68 million
• Cash operating cost per AgEq ounce sold was $13.01/oz
• All-in sustaining cash cost (AISC) per AgEq ounce sold was $16.86
• Average realized silver price per ounce of $17.00/oz from Price Protection Program

Arturo Prestamo, president and CEO of Santacruz, commented:

During the second quarter the Rosario Mine made a solid comeback in terms of operational performance. Head grades are much improved at close to 322 g/t silver equivalent largely as the result of well managed dilution control. These improvements in addition to other cost control initiatives have brought our costs down 18% to AISC $16.86/oz silver equivalent when compared to the previous full quarter of operations.
In addition we have also identified further cost saving measures that should begin to be reflected in Q3 as we transition from the temporary geotextile tailings containment system to a permanent dry-stack tailings system that is now fully operational. I am very pleased that we were able to make this significant step forward, especially in these difficult times. Management is committed to working toward more cost control and production efficiencies on a daily basis.

Click here to read the full Santacruz Silver Mining Ltd. (TSXV:SCZ) press release.