Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) has reported its financial results for the second quarter of 2023, highlighting that it processed 443,969 tonnes of material in the quarter and 926,466 tonnes in the first half 2023.
The company said it produced 5,569,535 silver equivalent ounces in the quarter and 11,213,918 silver equivalent ounces in the first half of 2023. The cash cost per silver ounce sold was $19.34 in the quarter and $18.29 in the first half. The all-in-sustaining-cost (AISC) per silver ounce sold was $22.89 for the quarter and $21.80 in the first half of 2023.
Revenue hit $63,854,000 in the quarter and $129,232,000 in the first half of 2023 while adjusted EBITDA was $9,138,000 in the quarter and $21,740,000 in the first half of 2023.
"The company had another solid performance during the second quarter with production, costs, and sales relatively in line with the previous quarter,” Arturo Préstamo, executive chairman and interim CEO of Santacruz, said in a statement.
"We believe there is potential to upgrade our operations and are currently focusing on areas where we see opportunities for further improvement. By doing this, we aim to make processes more efficient, reduce costs, and get the most out of each of our valuable assets."
Santacruz Silver is engaged in the operation, acquisition, exploration, and development of mineral properties in Latin America.