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 22.64 million silver equivalent ounces, which included just over 7 million ounces of silver, 91.6 tons of zinc, 12.4 tons of lead, and 1.3 tons of copper.
It processed nearly 1.9 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….
