Santacruz Silver Reports Second Quarter 2017 Financial Results

Santacruz Silver Mining (TSX.V:SCZ) (the “Company” or “Santacruz”) reports on its financial and operating results for the second quarter of 2017 (“Q2”).  The full version of the financial statements and accompanying management discussion and analysis can be viewed on the Company’s website at www.santacruzsilver.comor on SEDAR at www.sedar.com.
All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of US dollars, except per unit amounts, unless otherwise indicated.
Q2 Highlights:

• Revenues of $2,641
• Production cost per tonne of $63.38
• Silver equivalent production increased 21% to 270,659 in Q2 from 223,968 in Q1
• Net loss of $8,485 after reflecting impairment charge of $5,284 on the Gavilanes Property
• Cash cost per silver equivalent ounce sold of $21.24
• AISC per silver equivalent ounce sold of $24.62

Arturo Préstamo, President and CEO, said:

“Our Q2 results reflect production equipment availability challenges that resulted from working capital constraints. With the recent sale of the Gavilanes Project, we have remedied this issue and have seen immediate improvement in production in terms of both tonnes of production and grade that are in line with management’s expectations at the Rosario Project.
At the Veta Grande Project we are now accessing mineralized material from Level 6 of the Garcia mine and again are seeing an improvement in grade that is in line with management’s expectations.”

Click here to read the full text release.