Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) reported a 25% jump in silver equivalent ounces produced at its Bolivian and Mexican assets during 2023.
During 2023, the miner produced 22,641,052 silver equivalent ounces, which included 7,004,582 ounces of silver, 91,616 tons of zinc, 12,369 tons of lead, and 1,254 tons of copper.
It processed 1,883,446 tons of material, a 14% increase year-over-year.
The company’s 2023 results benefitted from full first quarter 2023 production at its Bolivian operations, it noted.
Consolidated cash cost of production per ton of mineralized material was narrowed from $117.99 to $93.10, attributed to “significant” decreases in unit production costs at its Bolivian operations, driven by higher production rates and cost-saving initiatives.
For 2023, the company grew its gross profit year-over-year from $22.8 million to $34.6 million, or earnings per share of $0.05.
Adjusted…
