Santacruz Q3 Silver Output Slips 5% QoQ but Mining Ops Jump 30% YoY
SCZM sits 75% above its 52-week low of $4.68.
Summary
Consolidated Q3 2026 production came in at 1,500,958 oz silver and 22,080 t zinc, down 5% each from Q2. The decline is deliberate: management shifted mill capacity away from lower-margin San Lucas purchased ore toward its own higher-margin mine feed, so profitability should not suffer even though headline volumes fell. The better read is mining operations, where silver rose 2% QoQ and 30% YoY to 1,186,507 oz, led by Bolivar up 19% QoQ to 408,087 oz as dewatering of the flood-affected Pomabamba and Nane veins progressed. Zimapan silver recovery improved to 76% from 72%, and lead rose 5% on stronger grades and recoveries. Management expects consolidated production to rise in Q4 as Bolivar fully recovers, the newly acquired 500-tpd mill starts processing San Lucas ore exclusively, and Caballo Blanco moves into higher-grade zones. That mill acquisition, announced September 18 for US$9.2 million, is the operational lever behind the Q4 guidance.
At the time of this announcement, SCZM was trading at $8.17 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $759.8M. The 52-week trading range was $4.68 to $17.65. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: TMX Newsfile.