Santacruz Silver Reports Reduction in Cash Costs for 2015

Santacruz Silver (TSXV:SCZ) reported its operating and financial results for 2015, indicating lower cash costs despite challenges encountered early in the year.

As quoted in the press release:

HIGHLIGHTS:

• Annual silver equivalent ounces produced for fiscal 2015 of 832,283 represents an 8.72% increase compared to fiscal 2014 notwithstanding that the Rosario Mine was only in production for the last three quarters of 2015;
• Fourth quarter 2015 cash cost per payable silver equivalent ounce sold of $12.62 maintains continuous reduction year on year, representing a 16.31% reduction when compared to the fourth quarter of 2014.
• Fourth quarter 2015 all-in sustaining cost of $15.85 per payable silver equivalent ounce sold maintains continuous reduction year on year. The 2015 results represent a 23.36% reduction compared to the fourth quarter of 2014 and the trend lower is expected to continue as further cost reducing initiatives are completed.

Santacruz President and CEO, Arturo Préstamo, said:

Despite some challenges in early 2015, we exited the calendar year of 2015 with very good operational results. We have seen significant improvement in costs at the Rosario Mine and our intention is to continue that improvement into 2016. Our focus at both the Rosario Mine and now the Veta Grande Mine is to produce cost effective silver equivalent ounces. This will continue to be a priority for our operational team as we move forward.

Click here for the full press release.

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