SCZ:CC - Santacruz Silver production remains steady as company reports second-quarter financials
--News Direct--
Santacruz Silver Mining executive chairman and interim CEO Arturo Elizondo joined Steve Darling from Proactive to share significant financial updates.
Elizondo announced the release of the company's second-quarter financial results, highlighting steady production figures from operations in Bolivia and Mexico. The company achieved a notable milestone by processing 443,969 tonnes of material during the quarter, marking an 8% increase from the first quarter.
Moreover, for the first half of 2023, Santacruz Silver Mining successfully processed a total of 926,466 tonnes.
Elizondo provided further insights into the company's production accomplishments, revealing that it produced 5,569,535 silver-equivalent ounces during the quarter, and an impressive 11,213,918 silver-equivalent ounces in the first half of the year. This robust production output underlines Santacruz Silver Mining's operational prowess and its role as a key player in the precious metals sector.
The financial performance of the company is equally promising, with second-quarter revenue amounting to $63,854,000, and $129,232,000 for the first half of 2023. Furthermore, Santacruz Silver Mining reported adjusted EBITDA of $9,138,000 for the quarter and $21,740,000 for the first half of the year.
These financial indicators illustrate the company's strategic approach to cost management, efficiency enhancement, and value generation.
Elizondo's remarks underscore the company's ongoing efforts to optimize its assets, streamline operations, and drive cost reductions. By consistently pursuing operational excellence, Santacruz Silver Mining remains well-positioned to capitalize on market opportunities and maintain its role as a significant contributor to the precious metals industry.
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