SCZ - Santacruz Silver Mining Executive Chairman Arturo Prestamo Provides Production Update
(NewsDirect)
Santacruz Silver Mining Executive Chairmanand Interim CEO Arturo Prestamo joined Steve Darling from Proactive toprovide a production update on the company's various miningoperations. The company processed 470,749 tonnes of material andproduced 4,478,122 silver equivalent ounces, including 1,581,949ounces of silver, 22,847 tonnes of zinc, 2,953 tonnes of lead, and 256tonnes of copper.
Prestamo toldProactive that Santacruz has successfully restructured its debt withGlencore, resulting in enhanced financial flexibility and a morerobust balance sheet. This strategic move has bolstered thecompany’s financial position and should allow for betteroptimization of Santacruz’s core business activities and the pursuitof long-term growth.
During thefirst quarter, production at its Bolivian mines faced severaldisruptions due to various events, including national holidays and thenational population census. Caballo Blanco experienced a challengingquarter due to additional production disruptions caused by safetytraining and mining in areas with lower silver grades. However, thepreparation of new areas is progressing well, thanks to theintegration ramp. Caballo Blanco is expected to mine areas with highersilver grades in the coming months, and together with feweroperational disruptions, the company expects a betterperformance.
Préstamo alsohighlighted the advantageous metal pricing, especially for silver andzinc, and expressed confidence in the company's ability togenerate strong cash flows.
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Proactive North America
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