Santacruz Silver Mining Ltd

8 days ago 17:45

Key Highlights

The guest says the newly acquired 500-tonne-per-day mill, dedicated to the San Lucas ore-sourcing business, frees milling capacity at Bolivar, Porco and Caballo Blanco, so milling will no longer constrain production growth from the company's own mines.
San Lucas is expected to grow from about 4 million to roughly 4.5 million ounces per year (around 8-10%), and Porco — which dedicates about 50% of its mill to San Lucas — gains the most released capacity.
Soracaya needs only its final permit to start: initial production of 200-300 tonnes per day is planned for December 2026, ramping to a budgeted 700-800 tonnes per day and about 2.5-3 million ounces silver equivalent per year, mostly silver.
The company guides to slightly over 10 million ounces silver equivalent for 2026, with Bolivar back on track by Q4 and two new high-grade silver areas adding production from 2027, and Zimapan set to grow next year on drilling success, higher head grades and better recoveries.
The guest reports closing Q3 2026 with close to $140 million in treasury (about double Q2), no royalties or streams, and points to the September 21 TSX uplisting as a step toward better liquidity and a potential rerating.

Santacruz bought a 500 tpd (tonnes per day) mill for about US$14 million, giving San Lucas dedicated capacity and freeing three Bolivian mills. Freed milling capacity at Bolivar, Porco, and Caballo Blanco should lift company-owned production gradually, with a revised mine plan expected by late November. Zimapan drilling keeps extending veins, and a mill upgrade is lifting recoveries and grades, supporting higher output and better costs next year. Soracaya, a silver-dominant development project, targets first production in December 2026 and 2.5-3 million silver-equivalent ounces (all metals counted as silver) at full run-rate. The guest argues Santacruz is undervalued at about a $1.1 billion market cap, with roughly $140 million in treasury and no royalties or streaming.

Beaver Creek 2026 - Best Stocks

10 days ago 38:24

Key Highlights

Durrett calls Candelaria very cheap, saying a roughly $134 million valuation against about 5 million ounces a year implies around $5 billion of potential value, with no high capital cost expected.
He says strong insiders are unlikely to sell and that the secondary project in Arizona, which he believes is called the Phoenix Project, adds value on top.
He notes the Bolivia operation is generating solid free cash flow.
He ranks Santacruz among his roughly 25-bagger candidates.

Gold at $4,100 anchors his buy-the-dip plan: add again below $4,000, and again below $3,700. His Beaver Creek list holds 37 stocks, all rated as tenbaggers (ten-times-plus targets), with seven winners out of ten as the goal. He grades risk-reward by letter and number; near-term producers screen best, while late-stage projects carry more risk. Discovery Silver and Osisko Gold Group lead his Canadian gold picks, and Silver X's 250 million ounce resource lifted the grade. Low insider ownership makes Andean Silver, Talisker and Avino the likeliest takeover targets on his list.

6 Mining Stocks Our Viewers Asked Us About This Week | Sep 28th - Oct 2nd

11 days ago 18:42

Key Highlights

The host calls Santacruz one of the shining lights in silver because the team executes, and concludes the stock's discount to peers is too heavy.
In Q2, revenue rose 55% to $114 million and adjusted EBITDA rose 74%, with about a $50 mining margin on every silver ounce sold; roughly 53 days of road blockades in Bolivia did not interrupt production.
On his comps math, Santacruz trades at roughly C$236 million of market cap per million ounces of pure silver produced (and $135 million per silver-equivalent ounce), so the stock would need to trade close to 200% higher to match peers.
He attributes the discount to purchased output — making it a cash-flow story rather than a resource-growth story — and to Comibol, Bolivia's state-owned mining company, holding 55% of Bolivar and Porco.
He notes Bolivia's new government is courting miners with promises of legal certainty, but cautions that it is still Bolivia.

A Panamanian study recommends an orderly closure of Cobre Panama (a mine that produced about 1% of global copper), narrowing First Quantum's restart path. Gold producers command roughly $2 to $2.5 billion of market cap per 100,000 annual ounces, and Orezone Gold trades far below that benchmark. G3 Goldfields' $57 million market cap holds $47 million cash, so investors pay about $10 million for the team, land, and contingent value right. US debt past $40 trillion with a quarter of tax receipts funding interest strengthens the case for precious metals; watch the 10-year yield's 5% level. Silver Tiger's open pit is mostly a gold mine despite the silver label, and Santacruz Silver's discount looks too heavy given consistent execution.

5th Silver Mine Going Online | Arturo Préstamo - Santacruz Silver

15 days ago 7:44

Key Highlights

Soracaya is in the final stage of permitting: the guest targets starting 300-ton-per-day production by December 2026 and ramping toward the mine's 700-ton-per-day design capacity through 2028, at which point it should produce around 2.5-3.0 million ounces of silver equivalent.
The company closed Q2 2026 with about $75 million in treasury and, as of the interview in late September 2026, holds roughly $120 million, with the guest saying cash is built weekly across its four producing mines plus the San Lucas ore-sourcing business.
A newly acquired 500-ton-per-day mill is being dedicated to San Lucas, which the guest expects to lift output 8-10% above historic levels and expand its core business of buying ore from a few thousand small miners across Oruro and Potosi.
The guest calls the boliviano's devaluation a long-run benefit because about 85% of costs are in Bolivia, though it required booking a tax charge in Q2 2026 on US dollars held abroad.
During Bolivia's 53-day blockade production never stopped; roughly 5,000 tons of trucked lead concentrate were stockpiled and exported after it ended, and the guest says inventories were back to normal levels in Q3 2026.

Santacruz's CEO argues silver clears $80 within months and moves beyond $100 long term, framing producer economics around a rising metal price. A dedicated 500-tonne-per-day mill removes San Lucas's milling bottleneck, letting the ore-sourcing operation grow output 8-10% annually. Treasury grew from $75 million to roughly $120 million since Q2, and the boliviano devaluation trims dollar costs since about 85% of spending is local. Mines and mills never missed a day through Bolivia's 53-day blockade; rail concentrate exports flowed while trucked tonnes waited out the disruption. Soracaya targets 300 tonnes per day by December, then ramps toward 2.5-3 million silver-equivalent ounces (output expressed in silver terms) during 2028.

The Silver Price Was Not The Problem | Quanajuato Silver Q2 Earnings 2026

about 1 month ago 13:42

Key Highlights

Realized $72.17/oz silver in Q2, second only to Guanajuato among the peer set.
Per the host, Santa Cruz strips out zinc and lead entirely from its cost metrics, which makes its headline AISC look lower than Guanajuato's.

Guanajuato Silver's Q2 was nominally profitable, but AISC (All-In Sustaining Cost, the full cost to produce an ounce) at $71.66 topped per-equivalent-ounce revenue of $70.62. Operating five Mexican mines, the company retired most of its Ocean Partners gold debt using $9.2M of cash this quarter. Bolañitos, the mine acquired in January, is the most expensive ounce in the portfolio at $90.11 AISC, while contract-mined Topia is cheapest at $45.19. At a 24% EBITDA margin (peer median 47%), the stock looks cheap on assets but expensive on earnings at 25x P/E versus 14x. Management expects costs to fall once Bolañitos integrates; the Q3 scorecard hinges on higher tons, AISC starting with a 5, and working capital direction.

Gold/Silver Miners: Low Hanging Fruit (August 2026)

about 2 months ago

Key Highlights

At ~$900M he says Santacruz mines ~5M oz and trades at a low ~7x multiple — undervaluing the existing operation.
He flags the Soracaya expansion (~80% production growth) coming online in 2028 as not priced in, which should compress the multiple further.
The main risk he names is Bolivia political turmoil: a coup or shift to 'mining unfriendly' policy could derail the thesis.

Don Durrett's 15 low-hanging-fruit names share a single thesis — execution on planned growth at $200 silver and $7,000 gold unlocks 5-20x upside across the list. Junior miners with low insider ownership become prime hostile takeover targets once their assets are de-risked, so a defensive merger often precedes the rerate. The market is still leaving the second-mine pipeline at NexGold and GoGold free, because the first project's standalone value already exceeds today's market cap. Canada's scarcity of new single-asset gold producers gives each one a permanent jurisdiction premium that U.S. peers cannot replicate. AISC (All-In Sustaining Cost — what it really costs to produce an ounce) is the single variable that decides whether each near-term producer on this list rerates or fades.

Santacruz Silver – Strong Q2 2026 Financials & Operations and Ongoing Growth Initiatives This Year

about 2 months ago

Key Highlights

CEO reports Q2 2026 was a strong quarter with revenue up 55% year-over-year, gross profit up 102%, adjusted EBITDA up 74%, cash and marketable securities up 82%, and working capital up 43%.
All-in sustaining cost per silver ounce sold fell from almost $29 in Q1 to just under $22 in Q2, with the host attributing the margin lift to higher metal prices and improved production metrics.
CEO expects Q3 to look 'very strong' partly because roughly $24-25M of concentrate (about 3,000 tons) was trapped by 53 days of Bolivian road blockages and is now shipping out — about 95% has already left the patios.
Near-term catalysts flagged on the call: TSX uplisting in September 2026, a maiden NI 43-101 resource estimate for Zimapan, and updated resource estimates for the Bolivian mines originally acquired from Glencore.
CEO describes the company as debt-free with treasury 'north of $120M' and frames Soracaya (target 3M oz silver equivalent, 350 tons/day, permits expected early September 2026) as the next organic growth project.

Santacruz Silver posted strong Q2 results — revenue up 55% YoY — but a $36M Bolivian tax hit and $16M non-cash CVR adjustment masked profitability. The CVR pays Glencore only when monthly LME zinc exceeds $3,850/t; at current prices Santacruz nets $7-8M for every $1M paid. Bolivar mine is dewatering toward full production in Q4 2026, while the Soracaya permit should clear in September with first silver by year-end. First NI 43-101 compliant resource estimate at Zimapan is due next month; maiden drilling at the underexplored Monte Mine is underway. Management frames Santacruz as undervalued versus mid-tier silver peers, with cash north of $120M and a TSX uplisting due in September.

Doc & Dana Lyons - Technical Setups: Gold, Silver, GDX, Copper, Oil, Uranium, Bond, Value Stocks

about 2 months ago

Key Highlights

Doc says he 'loves Santa Cruz Silver' and has been a buyer on this latest pullback, having missed the previous 10x+ run and determined not to repeat that mistake.
He is enthusiastic about both the chart and the underlying business and says he would actually welcome another drop so he can keep adding to his position.
The host frames Santa Cruz as the archetypal mid-tier silver producer story — undervalued before the 2025 rally, then halved in the six-month correction, leaving it on a 'half-off sale.'
Both hosts describe Santa Cruz as a core long-term hold to carry through an expected 2027 sideways period into the next major bull run they see starting in 2028-2029.

Richard Postma reads the precious-metals rebound as a temporary bounce within a corrective phase, with $4000 gold and unfilled chart gaps as the next test. Postma ties the medium-term gold outlook to a bearish bond-market setup, citing the convergence of the 50-month and 200-month moving averages. Dana Lyons flipped long GLD from a short but stays neutral on silver and miners until price reclaims the 200-day and 50-week resistance. Lyons remains bullish copper and copper miners, framing COPX's pattern as a continuation pennant with only about 38% of the prior rally retraced. Lyons' portfolio is overweight healthcare and financials and is actively trimming growth, momentum, and semiconductor exposure as leadership rotates.

BP Silver – Executive Chairman - Big Picture Value Proposition And Updated 2026 Exploration Strategy

2 months ago

Key Highlights

The guest says Santacruz Silver is the largest publicly listed mining company in Bolivia, currently operating three mines in country and one in Mexico
Arturo from Santacruz Silver sits in an advisory capacity at BP Silver, leveraging an existing working relationship with CEO Tim

BP Silver's Executive Chairman pitches the company as a first-mover silver explorer in Bolivia with a fully funded ~8,000 m 2026 campaign. He frames Bolivia's underexplored status and fast 2-4 week drill permitting as a structural edge over more mature South American belts. Phase 1 already hit ultra-high-grade silver at Pocañita Chica; Phase 2 (2,000 m) feeds Phase 3 (6,000 m), with MAG and IP surveys sharpening targeting. Cosuño is the focus, but Tichiri (~2 km of outcropping silver) is presented as second optionality BP Silver may spin out at a later date. The chairman argues experienced, aligned teams plus staged, layered targeting — not single campaign wins — drive tier-one discovery odds.

Santacruz Silver – Review Of Improved Q2 2026 Operations and Ongoing Growth Initiatives

2 months ago

Key Highlights

The guest reports Q2 2026 production of nearly 1.6 million ounces of silver and just over 23,000 tons of zinc, with ore processed up 22% versus Q1, driven mainly by Bolivar's recovery and Zimapan's ramp-up.
He targets full production at Bolivar by Q4 2026, with high-grade Bamboa and Nanae veins plus two additional high-silver areas coming online, and about 5,000 tons/month of extra Zimapan throughput (from 74k toward a budgeted 80k).
He states revenue mix is now about 60% silver and 35% zinc (the rest lead and copper), pushing back on the base-metals-company label.
Growth plans include Soracaya — a silver-forward project expected fully permitted by late August/early September 2026 with first ore by mid-Q4 2026 — plus an active hunt in the Americas for acquisitions producing north of 3 million ounces of silver, and a TSX main-board up-listing targeted for end of August 2026.
He highlights the San Lucas ore-sourcing business in Bolivia, which lifted silver output around 20% in Q2 and is being financed by a fourth tranche of 70 million Bolivianos at about 10% interest against about 15% local inflation; Caballo Blanco runs at all-in sustaining cash costs below $20, and treasury sits north of $75-80 million after roughly $30 million in taxes paid earlier in 2026.

Santacruz's Q2 2026 silver output jumped 17% QoQ to 1.57M oz, lifted by Bolivar's post-flood recovery and Zimapan's faster throughput. By Q4, Bolivar's high-grade Bamba and Nanae veins and Zimapan's Level 960 zone should lift head grades (the silver content of mined ore) further. The Soracaya silver mine, already partially developed, is set for Q4 initial ramp-up, shifting the production mix further toward silver. Management is scouting Americas acquisitions producing more than 3M oz silver annually, funded by a $75M-$80M treasury and clean balance sheet. Bolivian promissory notes at 10% versus 15% local inflation fund San Lucas working capital at a real negative rate.

Live Q&A with Rick Rule and Albert Lu

Rule Investment Media

3 months ago

Key Highlights

Rick rates Santacruz Silver a six, calling it a fairly high-cost, small producer running a very leveraged operation.
He notes it is another large Eric Sprott position and says it would likely outpace his more conservative picks if the silver price does well.

Rule argues US debt and unfunded liabilities point to a decade of dollar erosion, making gold and quality gold stocks asynchronous bets. Gold stocks gushing cash yet trading at historically discounted multiples offer, in his view, 300-500% upside against 30-50% drawdowns. Speculators should cap position counts at their monthly study hours, size bets to what they can lose, and demand decision-tree discipline from managers. Live Q&A favors Cameco, NexGen, and Paladin for uranium exposure, plus term-contract financing as the uranium market migrates from spot to term. His unanswered-questions framework probes explorers on their pivotal unknowns, defeat criteria, and the capital and time required to reach an answer.

Doc and Dana Lyons - A Word Of Caution For PM Investors: Technical Outlooks

4 months ago

Key Highlights

Doc says he missed Santacruz Silver on the way up but does not intend to miss it a second time, signaling intent to buy it during the bottoming process.

Technician Richard Postma argues gold has entered a cyclical bear market within an intact secular bull, with a potential low near $3,500-$3,700. He expects a multi-year consolidation, targeting silver at $50-$60, and plans to accumulate low-P/E, high-cash-flow producers once charts bottom. Fund manager Dana Lyons says precious metals and miners are sell-the-rip markets, flagging GLD near $350 and resistance in GDX and SIL. Lyons sees the broad equity market holding up far better than stretched AI and momentum stocks, with small caps and market breadth still healthy. Copper and energy charts remain constructive, uranium equities look weak, and long-term equity valuation indicators warn of poor 10-year returns.

Gold/Silver Miner Buy The Dip List (June 2026)

4 months ago

Key Highlights

Durrett says Santacruz Silver has come down a long way and frames it as a buy-the-dip opportunity.
He points to the Sorokaya project as the source of added free cash flow, with a couple of years of construction ahead.
He says the project is being advanced as fast as possible.
He ranks it highly because he views producers adding production as reliably good stories.

Gold and silver broke below their 200-day moving averages, and the host calls the 25% to 47% drop a buyable correction in a bull market. His trigger is the gold-to-S&P 500 ratio — gold's price divided by the index — near 0.6 today; 0.8–0.9 signals gold outperforming stocks. The watchlist spans producers, developers and explorers, with price assumptions of $7,000 gold and roughly $175 to $190 silver. Producers adding ounces rank above one-off development stories, since incremental production flows straight to free cash flow and lifts valuations quickly. He expects another, deeper dip before year-end tied to an S&P selloff, so he is assembling names to buy at lower prices.

Santacruz Silver – Visual Review of Q1 2026 Financials/Operations & Ongoing 2026 Growth Initiatives

5 months ago

Santacruz Silver delivered exceptional Q1 2026 financials with $127.5M revenue and $28.5M net income, driven by a 128% YoY increase in realized silver prices. The Bolivar Mine is recovering from a May 2025 water inflow event, with full production expected by Q4 2026 as high-grade silver veins are re-accessed. Key 2026 growth initiatives include ramping up the Soracaya project by Q4 and increasing throughput at the high-volume Zimapán Mine in Mexico.

Silver Is Strong Again, and This Producer Is Ramping Up | Arturo Prestamo - Santacruz Silver

5 months ago

Santacruz Silver is positioned for a stronger second half as Bolivar recovers from flooding and Sorakaya approaches production. CEO Arturo Préstamo highlights the company's financial differentiation with positive cash flow, retained earnings, and a growing treasury. Rising silver and zinc prices are significantly improving the company's business economics and prompting a change in reporting metrics.

Newsletter Favorites Sorted by Quality (April 2026)

6 months ago

Key Highlights

Don Durrett says the Santacruz stock has been beaten up and is now down to about an $800 million valuation.
He still has it rated high at 4 B+.

Durrett ranks the 89 gold and silver stocks he owns on upside, downside risk, and company quality — a system investors can copy. His 'three-five' score marks a likely five-bagger — a stock he expects could multiply roughly five times from current levels. Only four holdings earn an A, reserved for low costs, clean balance sheets, and consistent execution — Australian mid-tier producers dominate the top. Country risk caps otherwise strong names: West African, Mexican, and Colombian exposure keeps ratings below top marks. He flags likely takeover targets among focused developers and producers still generating free cash flow.

Don Durrett & John Feneck Interview Mayfair Gold ($MFG | $MINE) on Building a Mine in Ontario

Investor TV

6 months ago

Key Highlights

Don Durrett names Santacruz, alongside Avino and Americas Gold & Silver, as the undervalued silver producers best set up right now, with five-bagger-plus potential in his view.

Mayfair Gold is permitting a 4,800 tonne-per-day starter pit at Fenn-Gib provincially, cutting years off the federal route to first production. Projects under 5,000 tonnes per day permit provincially in Ontario, avoiding a federal review where no new (greenfield) mine has won approval since 2019. Management guides to a sub-$1,200 AISC (All-In Sustaining Cost — the full cost to produce an ounce) and first gold in 2030. Staying small preserves optionality: regional high-grade and underground tonnes can sweeten mill feed (raise average grade) without expanding throughput or new federal permits. Don Durrett favors undervalued, leveraged silver producers while John Fenwick argues war headlines, not fundamentals, gate gold's next move.

Santacruz Silver – Review of 2025 Financials and Operations, and Ongoing 2026 Growth Initiatives