Shares of Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) rose 5% Tuesday after the company announced a second $7.5 million payment to Glencore under its accelerated plan to acquire a portfolio of Bolivian mining assets.
The payment follows an initial $10 million instalment in March and is part of a structured deal aimed at completing $40 million in total payments by October 31.
The company said the early purchase will deliver $40 million in savings over the life of the assets.
Santacruz said the move highlights its focus on financial discipline and long-term value creation.
The Bolivian portfolio includes the Bolivar, Porco and Caballo Blanco mines, along with the Soracaya exploration project and San Lucas trading business.
The stock was up 2.5 cents at 54 cents.