Santacruz Silver Mining

Santacruz Silver posted revenue of $113.46 million in the second quarter (+55% year‑on‑year) and adjusted EBITDA growth of 74%. Silver production rose 17% quarter‑on‑quarter while all‑in sustaining costs fell to $21.87/oz (-24% q/q). Cash on hand exceeded $100 million after receipts, but reported net income declined to about $2 million due to non‑cash fair‑value losses and one‑off tax charges. Management expects continued production improvements, plans a TSX uplisting and a share buyback, and anticipates first production at Soracaya toward the end of Q4 2026. » More on de.investing.com

Bolivian subsidiary Empresa Minera San Lucas successfully placed an unsecured bond of 70m Bs (about $10m) with a 10.8168% annual coupon and maturity to March 22, 2027. The issue was roughly 40% oversubscribed, was fully subscribed at par within about 15 minutes, and according to management reflects the confidence of local capital markets. According to InvestingPro, Santacruz Silver’s cash flows are sufficient to cover the interest payments. With this third issuance, San Lucas’s bond program (maximum volume 140m Bs) is fully placed. » More on de.investing.com

Santacruz Silver’s share rose about 7% after the silver price topped $110 per ounce and the company reported strong Q4 2025 production numbers. In the fourth quarter it produced 3.74 million ounces silver equivalent (+9% quarter-on-quarter), including 1.34 million ounces of silver (+8%); zinc and lead production also increased markedly. The recovery at the Bolívar mine (+34% q/q) was the main driver despite ongoing remediation after a flood; the company expects full restoration by Q4 2026. Full-year 2025 production was 14.4 million ounces silver equivalent, an 11% decline from 2024, mainly due to the Bolívar disruption. » More on de.investing.com