Santacruz Silver Reports Strong Q3 2025 Results with Key Gains

Santacruz Silver Mining Ltd. (TSXV: SCZ) (OTCQX: SCZMF) has announced its financial and operational results for the third quarter of 2025, ending September 30. The Vancouver-based company reported revenues of $79.99 million, marking a 2% increase compared to the same period last year. Despite a 7% decline in net income, which totaled $16.34 million, Santacruz achieved notable increases in gross profit and adjusted EBITDA.

Arturo Préstamo, Executive Chairman and CEO, highlighted the significance of the quarter, stating that the company eliminated its final payment obligation to Glencore for its Bolivian assets. This strategic move not only removed a major liability but also significantly enhanced the company’s financial position, leaving working capital at $69.20 million, a 186% increase year-over-year.

Key Financial Metrics and Production Insights

The financial results reflect a robust operational performance, with gross profit reaching $20.17 million, a substantial 28% increase year-over-year. Santacruz also reported an adjusted EBITDA of $19.51 million, representing a remarkable 67% increase over the same period last year. However, the cash cost per silver equivalent ounce sold rose to $28.62, a 28% increase compared to Q3 2024.

Production figures showed a significant boost, with the company producing 3,424,817 silver equivalent ounces, a 30% increase from the previous year. This growth was primarily driven by strong performance at the Caballo Blanco, Zimapán, and San Lucas operations. Despite challenges at the Bolívar mine, where a water inflow event in May 2025 affected production, remediation efforts are underway, with a recovery plan in place that expects to restore operations by early 2026.

Préstamo remarked on the operational consistency across the company’s portfolio, which helped offset the impacts from Bolívar. He noted that the Caballo Blanco and Zimapán mines delivered solid results, contributing to the overall performance despite the setbacks.

Cost Management and Future Outlook

The all-in sustaining cost (AISC) per silver equivalent ounce increased to $35.62, reflecting the rising costs of ore purchases and investments in plant improvements. Factors such as the appreciation of the Bolivian boliviano, alongside necessary expenditures for remediation at Bolívar, have influenced overall costs.

Looking ahead, Santacruz aims to focus on operational efficiency and maintaining a strong balance sheet. With a commitment to sustainable long-term growth, the company plans to enhance shareholder value while navigating the challenges presented by fluctuating costs and market conditions.

In a webinar scheduled for December 5, 2025, Préstamo and CFO Andrés Bedregal will discuss the company’s performance and future strategies, inviting investors and shareholders to engage in the session. The event will be accessible via registration and will also be live-streamed on YouTube, ensuring broad participation.

Overall, Santacruz Silver Mining Ltd. has demonstrated resilience in a challenging environment, showing promising growth in key financial metrics while swiftly addressing operational hurdles.