Brien Lundin Says to Hold Santacruz Silver Mining

In the November 2014 edition of the Gold Newsletter (subscription) Brien Lundin said to keep holding Santacruz Silver Mining Ltd. (TSXV:SCZ), according to Stockwatch. Specifically, he said that if metals prices make even a modest comeback, the company is “the kind of producer that should provide significant leverage.”

According to Stockwatch:

In the third quarter of 2014, Santacruz produced 115,445 ounces of silver, 94 ounces of gold, 185.9 tonnes of lead and 462.2 tonnes of zinc from its Rosario mine in Mexico. Those numbers amount to 184,900 ounces of silver equivalent, 9.9 per cent higher than the previous quarter. The average ore production rate was 380 tonnes per day, which left 8,500 tonnes of ore stockpiled. Santacruz is in the process of adding a third ball mill that will boost milling capacity to 450 tpd. That rate will rise further to 700 tpd once flotation cells are integrated into the milling circuit. All of this bodes well for Rosario’s future production, says Mr. Lundin.

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