Last month, Santacruz Silver (SCZ.V) has released a production update on its Rosario mine and mill in San Luis de Potosi in Mexico. The total throughput and silver production unsurprisingly increased by respectively 238% and 266%. Approximately 60% of the 159,000 produced silver-equivalent ounces were pure silver with the remainder coming from gold, zinc and lead as by-products. As of at the end of Q1 the mill was operating at a rate of 240tpd, but this is expected to increase by the end of this month when a third ball mill will have been commissioned, increasing the mill capacity to 700 tonnes per day.
Santacruz is guiding for a total production of 850,000-1.1Moz AgEq for this year, and if the ratio silver/by-products remains stable, approximately 500,000-650,000 ounces of pure silver will be produced.
Disclosure: The author holds no position in Santacruz Silver. Please see our disclaimer for current positions.