Recent Updates — SCZM
Santacruz Silver Mining Ltd. completed the acquisition of a 500-tonne-per-day milling facility in Bolivia for approximately US$14 million, comprising two 250-tpd circuits with selective flotation systems. The company paid US$4.6 million toward the US$9.2 million purchase price, with the remainder due November 8, 2026, and allocated an additional US$4.8 million for upgrades and working capital. Commissioning is expected in Q4 2026 to support San Lucas ore processing and free capacity at existing mines for increased production growth. Santacruz Silver Mining Ltd. operates, acquires, explores, and develops mineral properties across Latin America.
Santacruz Silver Mining Ltd. received conditional approval from the Toronto Stock Exchange (TSX) to list its common shares on the TSX, subject to satisfying customary listing requirements including final documentation. Upon completion, the company's shares will be voluntarily delisted from the TSX Venture Exchange and commence trading under the symbol "SCZ". This graduation represents a significant milestone for the Latin American silver and base metals producer, aiming to enhance visibility in global capital markets. Santacruz Silver Mining Ltd. operates, acquires, explores, and develops mineral properties across Latin America.
Santacruz Silver Mining Ltd. reported second-quarter 2026 financial results with revenues of $113.5 million, a 55% year-over-year increase, and adjusted EBITDA of $46.7 million, up 74%. Net income was $2.0 million, down 90% from the prior year period due to non-recurring items including a $36.1 million income tax expense driven by Bolivian exchange rate changes and inflation assumptions, as well as a $15.8 million non-cash fair value loss on contingent value rights (CVRs) granted to Glencore plc. Excluding these items, net income would have been $17.8 million. The company ended the quarter with $50.4 million in cash and $22.4 million in highly liquid marketable securities. Santacruz Silver Mining Ltd. operates silver and zinc mines in Bolivia and Mexico.
Santacruz Silver Mining Ltd.'s Bolivian subsidiary, San Lucas, raised 70 million bolivianos (approximately $5.8 million USD) through its fourth tranche of unsecured promissory notes on August 4, 2026. The notes carry a 10.9985% annual interest rate and mature on July 18, 2027. This offering replaced the second tranche, which was repaid in June 2026, restoring the program's total authorized amount to 140 million bolivianos. The issuance was fully subscribed by institutional investors via the Bolsa Boliviana de Valores. Santacruz Silver Mining Ltd. operates silver and base metal mines across Latin America.