November 29, 2024

Santacruz Silver Mining – Comprehensive Overview Of Q3 Financials, 1 Mine In Mexico, And 5 Mines, 3 Mills, And An Ore Feed-Sourcing And Metals Trading Business In Bolivia

25 minutes

Arturo Préstamo Elizondo, Executive Chairman and CEO of Santacruz Silver Mining Ltd. (TSXV: SCZ) (OTCQB: SCZMF), joins me to recap the key takeaways from the Q3 2024 financials and operations at their 1 mine in Mexico, and 5 mines, 3 mills, and ore feed-sourcing and metals trading business in Bolivia. This is really an reintroduction of the Company, since is has transformed its portfolio of assets since 2021 and 2022 essentially stepping into the role as a mid-tier silver and base metals producer.

Q3 Production Highlights:

-Silver Equivalent Production: 4,644,013 silver equivalent ounces

-Silver Production: 1,703,387 ounces

-Zinc Production: 23,143 tonnes

-Lead Production: 3,027 tonnes

-Copper Production: 270 tonnes

Q3 2024 Highlights (all amounts in US$000's unless otherwise stated)

Revenues increased 21% or $13,836 to $78,244 in Q3 2024, compared to $64,408 in Q3 2023

Adjusted EBITDA increased 242% or $11,181 to $15,810 in Q3 2024, compared to $4,628 in Q3 2023.

Cash and Cash Equivalent increased 505% or $15,238 to $18,242 in Q3 2024, compared to $3,014 in Q3 2023.

Working Capital was $24,191 at the end of Q3 2024, improving from a deficit of $43,168 as of December 31, 2023.

In August 2024, Santacruz filed National Instrument 43-101 – Standards of Disclosure for Mineral Projects compliant Mineral Resource and Reserve estimates for its three Bolivian producing assets (Bolivar mine, Porco mine, and Caballo Blanco Group of mines)

Arturo takes us through the important investment the Company made over the last year, but especially during Q3, into the Zimapan Mine in Mexico, as they work to lower costs and increase production output and revenues. He also outlines the key silver, zinc, lead, copper production profiles and growth and optimization potential at their 5 Bolivian Mines: Bolivar, Porco, Tres Amigos, Reserva, and CQCQT. We also review how their San Lucas ore feed-sourcing and metals trading business smooths out the processing throughput at their Bolivar, Porco, and Done Diego mills and processing centers, while helping support local mining initiatives in Bolivia.

If you have any follow up questions for Arturo regarding Santacruz Silver, then please email them in to me [email protected].

In full disclosure, Shad is a shareholder of Santacruz Silver at the time of this recording.

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