Santacruz Silver Mining (TSXV: SCZ; OTCQX: SZSMF) is eyeing production growth in Mexico with a ramp up at its Rosario silver-gold-zinc-lead mine.
Located in Charcas, San Luis Potosi, the Rosario underground mine produced 168,300 silver-equivalent ounces in the second quarter at cash cost per silver equivalent ounce of US$22.72, in line with the company’s cost expectations.
All-in sustaining costs were US$25.39 per oz AgEq sold, down 28.5% from the previous quarter, while operating costs grew 19% to US$132 per tonne. The quarter-on-quarter increase resulted from the company capitalizing development costs for a ramp and paying $450,000 for a mining consultant to implement a new mine plan. Removing the consultant fee lowers the operating costs to US$112 per tonne, relatively in line with the previous quarter.
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