Santacruz Silver Reports Third Quarter Financial Results

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/569-tsx-venture/scz/27185-santacruz-silver-reports-third-quarter-financial-results.html

Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports on its financial and operating results for the third quarter of 2016 (“Q3”).  The full version of the financial statements and accompanying management discussion and analysis can be viewed on the Company’s website at www.santacruzsilver.com or on SEDAR at http://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.

Q3 HIGHLIGHTS:

  • Silver equivalent payable ounces sold of 198,639
  • Revenues of $3,026
  • Gross income from mining operations was $786
  • Net loss of $11,064, including an impairment charge of $16,688 related to the San Felipe Project and a gain on debt settlement of $6,377
  • Adjusted EBITDA of $869
  • Cash operating cost per AgEq ounce sold was $12.20/oz
  • All-in sustaining cash cost (AISC) per AgEq ounce sold was $15.88/oz
  • Production cost per tonne of $69.47
  • Veta Grande Project in commercial production as of October 1, 2016

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