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Santacruz SilverTSXV:SCZ

Silver producer, with a project stated to be in Mexico and Bolivia.

NoneBolivia — as stated on the recordings

producer silver NoneBolivia
Jul 2025 → May 2026Covered
10 of 10Topics on record
6Figures tracked over time
2 executivesNamed on the record
Generate Claims & Checks What management and commentators said, and what still needs independent verification 7 interviews with the company · 1 independent recording
Stage
Producer
Primary commodity
Silver
Jurisdiction
Mexico and Bolivia
Deposit
Silver and zinc
Latest appearance
12 May 2026
On record
7 interviews · 82 statements · 3 executives

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
around 1 million ounces, 1.2 million ounces of silver equivalent on a quarterly basis
Management-stated Arturo Préstamo Apr 2026
Money on hand
One promissory note was amortized in Q1
Stated capital need: San Lucas subsidiary issued a third promissory note for around $10 million US
Management-stated Arturo Préstamo May 2026
What happens next
By the end of Q3 Bolivar will be at full production and full capacity
Management-stated Arturo Préstamo May 2026
The main open question
The company faced severe water challenges in 2025 at Bolivar, cutting 50,000 oz of monthly silver production—660 million ounces missed annually—and these headwinds persist into 2026.
Weighed from the statements below, not our opinion of the company.
Our reading
How outsiders read it
1 independent voice on record — 1 neutral
Clive Thompson
Outside voices

How the stated figures have moved

The same figure, as management put it on the earliest and the latest recording we hold. A difference may be a genuine update, a different measure of the same thing (total against indicated), or a mis-heard number — both quotes are here, and both recordings are one click away.

NPV ● Lower Same basis, restated 20 days apart 2 statements on record
16 Apr 2026
an EBITDA north of $100 million, $104 million
“And and an EBITDA north of $100 million, $104 million.”
07 May 2026
evid of 100 uh $100 million
“We end up with u with an evid of 100 uh $100 million uh cash flows”
Capital needed ≠ Different basis One statement qualifies the figure and the other does not (issued) 8 statements on record
29 Jul 2025
assets have a one and a half NSR which technically calls for around $10 million a year
“all the assets have a one and a half NSR which technically uh calls for around $10 million a year.”
12 May 2026
San Lucas subsidiary issued a third promissory note for around $10 million US
“your San Lucas subsidiary has now issued a third promissory note for around$10 million US give or take”
Resource size north of 100,000 tonsaround 1 million oz ≠ Different measure Stated in time, then in ounces — not the same quantity 4 statements on record
29 Jul 2025
north of 100,000 tons of zinc a year
“We produce close to 8 million ounces of pure silver a year and uh north of 100,000 tons of zinc a year.”
16 Apr 2026
around 1 million ounces, 1.2 million ounces of silver equivalent on a quarterly basis
“So, that mine will give you around 1 million ounces, 1.2 million ounces of silver equivalent on a on a on a quarterly basis.”
Financing ? New figure The earlier statement put no number on this 9 statements on record
29 Jul 2025
no streamings, no royalties
“The company has no streamings, no royalties.”
12 May 2026
One promissory note was amortized in Q1
“it's important to have in mind that we amortize one of them in Q1”
Operating cost ? Wording changed One statement carries no figure to compare 5 statements on record
12 Sep 2025
85% of your cost are in Bolivianos
“because 85% of your cost are in Bolivianos.”
12 May 2026
Porco is profitable and strategy is to keep it profitable
“we're not investing much uh into that property into that project, but we just want to sustain and of course keep it profitable as it is today”
Cash position ? Stated at several levels 6 statements on record — these are the earliest and the latest, not a trend 6 statements on record
29 Jul 2025
treasury north of $65 million US
“So, uh making the 7.5 million payment in September and the following one in October will not be a problem. So, um uh that uh that has been definitely an important milestone for us as a company as your…”
07 May 2026
around $70 million
“and catch of hand on hand uh uh close to $70 million”

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Santacruz Silver's own claims across 7 interviews — most-covered theme first.

What outside voices pick up on

1 independent voice — people who do not speak for the company — across 1 mention.

1 neutral
  • Clive Thompson “Viewer holds it; Thompson suggests checking copper exposure within it”

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management says Santacruz operates with $70 million cash, positive retained earnings, and claims ~$104 million EBITDA with full-year 10% production growth.

What it rests on
▶
▶
Evidence: 2 moments from 2 interviews
Read the full case

Management says Santacruz operates with $70 million cash, positive retained earnings, and claims ~$104 million EBITDA with full-year 10% production growth. The company has paid down $40 million to Glencore, eliminating major debt, and expects Bolivar mine at full capacity by Q3 and Soracaya starting production by 2027, supporting a claimed $100 million NPV.

▼ Bear case

The company faced severe water challenges in 2025 at Bolivar, cutting 50,000 oz of monthly silver production—660 million ounces missed annually—and these headwinds persist into 2026.

What it rests on
▶
▶
Evidence: 2 moments from 1 interview
Read the full case

The company faced severe water challenges in 2025 at Bolivar, cutting 50,000 oz of monthly silver production—660 million ounces missed annually—and these headwinds persist into 2026. A third $10 million promissory note was just issued despite claimed debt-free status, the technical report and permits needed by August remain pending, and the outside view flags unexamined copper exposure as a risk.

◆ Watch next

Three concrete catalysts: (1) Resource estimate and 43-101 technical report filing before August 2026, with all permits expected by summer; (2) Bolivar mine back on track by Q4 2026 with 34% Q4 2025 silver production increase validated;…

What it rests on
▶
▶
Evidence: 2 moments from 1 interview
Read the full case

Three concrete catalysts: (1) Resource estimate and 43-101 technical report filing before August 2026, with all permits expected by summer; (2) Bolivar mine back on track by Q4 2026 with 34% Q4 2025 silver production increase validated; (3) Soracaya ramp to 200–250 tons per day by Q4 2026 and full production by 2027, and graduation to Toronto TSX before June 2026.

Each moment links to the exact point in the source recording. The cases are drawn from the transcripts, weighed as written — they are not a rating, a target or a recommendation.

Project 19 statements

The deposit 8

Key takeaway. Management has described the deposit as comprising silver and zinc.

Read the full summary

On resource size, the figures cited vary: the company reported close to 8 million ounces of silver on a yearly basis (Sep 2025) and, similarly, close to 8 million ounces of pure silver a year (Jul 2025), plus north of 100,000 tons of zinc a year (Jul 2025). In later comments (Apr 2026), management spoke in terms of about 1 million to 1.2 million ounces of silver equivalent on a quarterly basis. On exploration upside, the company points to a brownfield property that will give organic production increases (Jul 2025), a 5-7% production increase from efficiencies and tonnage throughput (Feb 2026), and expects the Esperanza mine to contribute another 30,000 tons of concentrate (Apr 2026).

What was actually said
exploration upside
Esperanza mine will contribute for another 30,000 tons of concentrate
“we expect actually we have already a new area producing at Caballo Blanco which which is the the Esperanza the Esperanza mine and and that will contribute for another 30,000 tons I mean of of concentrate from from that”
Arturo Préstamo· 16 Apr 2026·
resource size
around 1 million ounces, 1.2 million ounces of silver equivalent on a quarterly basis
“So, that mine will give you around 1 million ounces, 1.2 million ounces of silver equivalent on a on a on a quarterly basis.”
Arturo Préstamo· 16 Apr 2026·
deposit type
Silver and zinc
“We have four producing mines producing silver and zinc here.”
Arturo Préstamo· 15 Feb 2026·
Show the other 5 statements
exploration upside
5-7% production increase from efficiencies, tonage throughput
“we're going to increase around 5 7% uh our production from efficiencies from um um tonage throughput”
Arturo Préstamo· 15 Feb 2026·
resource size
close to 8 million ounces of silver on a yearly basis
“We produce close to 8 million ounces of silver uh pure silver on a yearly basis plus a significant amount of zinc as well.”
Arturo Préstamo· 12 Sep 2025·
exploration upside
another property brown field that will give organic increase production
“We're uh also have a another property brown field that uh we're going to be uh thinking about uh how to build that property soon that will give us organic uh increase production.”
Arturo Elizondo· 29 Jul 2025·
resource size
north of 100,000 tons of zinc a year
“We produce close to 8 million ounces of pure silver a year and uh north of 100,000 tons of zinc a year.”
Arturo Elizondo· 29 Jul 2025·
resource size
close to 8 million ounces of pure silver a year
“We produce close to 8 million ounces of pure silver a year and uh north of 100,000 tons of zinc a year.”
Arturo Elizondo· 29 Jul 2025·

Jurisdiction 6

Key takeaway. Management says Santacruz Silver has operations in Mexico and Bolivia, with specific activities in the Orurudo and Potoi areas of Bolivia (May 2026).

Read the full summary

The company has repeatedly cited both countries as its operating jurisdictions (Apr 2026, Feb 2026, Jul 2025), though one statement refers only to Bolivia (Sep 2025).

What was actually said
region
Operations in Orurudo and Potoi areas, Bolivia; also Mexico
“St. Lucas, what it does, it buys or from small miners across Orurudo and Potoi”
Arturo Préstamo· 12 May 2026·
region
Mexico and Bolivia
“we're increasing production both in Mexico and in Bolivia”
Arturo Préstamo· 07 May 2026·
country
Mexico and Bolivia
“We're a multi-asset multi-metal producer, mainly silver, across Mexico and Bolivia.”
Arturo Préstamo· 16 Apr 2026·
Show the other 3 statements
country
Bolivia and Mexico
“We're a multi- uh jurisdiction uh multimeta producer in Latin America uh working in Bolivia and in Mexico.”
Arturo Préstamo· 15 Feb 2026·
country
Bolivia
“all the Bolivian assets that we acquired uh back in March 2022.”
Arturo Préstamo· 12 Sep 2025·
country
Bolivia and Mexico
“So Santa Cruz Silver, you guys have properties in both Bolivia and Mexico.”
Arturo Elizondo· 29 Jul 2025·

Technical risk 5

Key takeaway. Management acknowledges that excess water at the Bolivar mine has flooded its two main veins, a problem it says is being addressed through a watering process (cited May 2026 and Feb 2026).

Read the full summary

The company estimates this water challenge has reduced production by about 50,000 ounces of pure silver on a monthly basis in Bolivia, and that the cumulative shortfall for 2026 is close to 660 million ounces of pure silver that was not produced (Apr 2026). Separately, at Simapan, management reports that silver recoveries are improving by around 500 basis points (Feb 2026).

What was actually said
stated risk
Flooding at Bolivar mine being addressed through watering process
“Were the watering bolivar mine which was um as you might recall experiencing some water problems over the last uh months”
Arturo Préstamo· 12 May 2026·
key assumption
close to 660 million ounces of pure silver that we didn't produce in 2026
“So, it was more than half a million ounces, close to 660 million ounces of pure silver that we didn't produce in 2026.”
Arturo Préstamo· 16 Apr 2026·
key assumption
water challenge in Bolivia brought production like 50,000 oz on average, 50,000 oz of pure silver down on a monthly basis
“What it actually did uh it brought production like 50,000 oz on average, 50,000 oz of pure silver down on a monthly basis.”
Arturo Préstamo· 16 Apr 2026·
Show the other 2 statements
recovery rate
Silver recoveries improving by around 500 basis points at Simapan
“we added a flat cell circuit which is improving our silver recoveries by by around 500 basis points”
Arturo Préstamo· 15 Feb 2026·
stated risk
Excess water at Bolivar mine, two main veins flooded
“we have a excess water. I mean two of the main veins were flooded but the progress of the watering”
Arturo Préstamo· 15 Feb 2026·

Economics 37 statements

Economics 10

Key takeaway. In the May 2026 interview, management provided several economic metrics for the company's projects.

Read the full summary

They reported an estimated NPV of "100 uh $100 million" and noted that "85% of your cost are in Bolivianos." On the cost side, management stated Porco is profitable and that the all-in sustaining cost at Simapan is coming down. They also said they are putting "a lot of capex into the mine and into the milling facility at Simapan," with a specific February 2026 figure of "around $2.5 million for flat cell circuit at Simapan."

What was actually said
operating cost
Porco is profitable and strategy is to keep it profitable
“we're not investing much uh into that property into that project, but we just want to sustain and of course keep it profitable as it is today”
Arturo Préstamo· 12 May 2026·
capex
a lot of capex into the mine and into the milling facility at Simapan
“we were investing a lot of capex into the mine and into the milling facility to get where we are today”
Arturo Préstamo· 07 May 2026·
npv
evid of 100 uh $100 million
“We end up with u with an evid of 100 uh $100 million uh cash flows”
Arturo Préstamo· 07 May 2026·
Show the other 7 statements
operating cost
increasing production at level 960 in Mexico with increased tonage and head rates
“In Mexico, we're increasing production because we are mining at level 960. So, we're increasing tonach throughput and we're increasing head rates”
Arturo Préstamo· 07 May 2026·
operating cost
all in sustain catch cost coming down at Simapan
“you'll start seeing as well the oiling sustained catch cost coming down at Simapan because we were investing a lot of capex”
Arturo Préstamo· 07 May 2026·
price assumption
around $45 per ounce
“well, if we see the company under enterprise value and um and silver equivalent production today, you will see that we're around $45 per ounce”
Arturo Préstamo· 07 May 2026·
npv
an EBITDA north of $100 million, $104 million
“And and an EBITDA north of $100 million, $104 million.”
Arturo Préstamo· 16 Apr 2026·
operating cost
revenues for north of $300 million, $326 million
“Well, we closed the year with around revenues for north of $300 million, $326 million to be.”
Arturo Préstamo· 16 Apr 2026·
capex
around $2.5 million for flat cell circuit at Simapan
“those cells uh yeah they were an investment for around $2.5 million but they are going to give us around $5 million a month”
Arturo Préstamo· 15 Feb 2026·
operating cost
85% of your cost are in Bolivianos
“because 85% of your cost are in Bolivianos.”
Arturo Préstamo· 12 Sep 2025·

Financing 27

Key takeaway. Management reports that Santacruz Silver has been actively managing its capital structure and debt.

Read the full summary

A subsidiary, San Lucas, issued a third promissory note for around $10 million (May 2026), and the company says it paid Glencore around $40 million (Apr 2026) as part of a broader arrangement that includes conditional value rights (CVRs) of up to $77 million tied to zinc prices above $3,850 per ton (Jul 2025). The company states it maintains a strong cash position—around $70 million (May 2026), close to $80 million (Feb 2026), and north of $60 million (Sep 2025)—and claims to be free of debt other than revolving facilities, with no streamings and no royalties as of several periods throughout 2025 and 2026.

What was actually said
capital needed
San Lucas subsidiary issued a third promissory note for around $10 million US
“your San Lucas subsidiary has now issued a third promissory note for around$10 million US give or take”
Arturo Préstamo· 12 May 2026·
financing status
One promissory note was amortized in Q1
“it's important to have in mind that we amortize one of them in Q1”
Arturo Préstamo· 12 May 2026·
cash position
around $70 million
“and catch of hand on hand uh uh close to $70 million”
Arturo Préstamo· 07 May 2026·
Show the other 24 statements
financing status
free of debt other than revolving facilities
“We paid out Glenor. So technically the company's free of debt other than a few revolving facilities”
Arturo Préstamo· 07 May 2026·
capital needed
we paid Glencore out we paid them around 40 million dollars
“As you point out I mean last year we paid Glencore out we paid them around 40 million dollars and uh and even though we did those pay”
Arturo Préstamo· 16 Apr 2026·
cash position
$70 million
“Um And it was definitely a good year for us and a year that has clearly set the path for this 2026. We have very good uh and very strong plans for the year. >> Well, like obviously revenue of 15% year-on-year and an EBITDA as well. Um what are the kind of sort of operational drivers for that? Was it mainly price or was it also what you were doing on the ground? Definitely definitely price was a driver, but efficiencies in the ground was another very important reason why our margins improve as well and our production has been improving. We have been dewatering the Bolivar mine as you know and on our last interview we saw that we discussed that our Bolivar mine experienced some water some floodings at two of its most important veins. So, we've been working in dewatering these two veins and the progress is going out as planned. So, Q4 shows actually an increase of 34% of silver production by Bolivar. And Q1 will be showing again a growth in in its production and increasing its production”
Arturo Préstamo· 16 Apr 2026·
capital needed
$2.5 million for flat cells at Simapan
“they were an investment for around $2.5 million but they are going to give us around $5 million a month”
Arturo Préstamo· 15 Feb 2026·
cash position
close to $80 million
“we closed the year with close to $80 million in our treasury.”
Arturo Préstamo· 15 Feb 2026·
dilution
NASDAQ listing on January 21st
“NASDAQ was this uh yeah January 21st. It was a great uh great um idea, great um strategy.”
Arturo Préstamo· 15 Feb 2026·
capital needed
No need for that, Steve
“No. No need for that, Steve. I mean, just uh just to give you an idea, I mean, this year we have paid $27 million on on taxes.”
Arturo Préstamo· 12 Sep 2025·
cash position
north of $60 million
“we also have u today on our treasury north of $60 million.”
Arturo Préstamo· 12 Sep 2025·
cash position
$110 $120 million every day with a free cash flow of $80 $90 million for the year
“our budget for this year's $110 $120 million every day with a free cash flow of $80 $90 million for the year.”
Arturo Préstamo· 12 Sep 2025·
debt
no debt, no streamings, no royalties
“We have no debt, no streamings, no royalties.”
Arturo Préstamo· 12 Sep 2025·
dilution
careful and cautious on dilution approach
“We're uh important investors in the company. So we were careful cautious on that on that approach and we rather focus on on making our minds more efficient and try to generate as much cash flow as possible.”
Arturo Préstamo· 12 Sep 2025·
burn rate
treasury strong in the 110 $120 million for the year
“Every is strong um in the 110 $120 million for the year.”
Arturo Elizondo· 29 Jul 2025·
capital needed
assets have a one and a half NSR which technically calls for around $10 million a year
“all the assets have a one and a half NSR which technically uh calls for around $10 million a year.”
Arturo Elizondo· 29 Jul 2025·
capital needed
original catch component was $110 million over five years time, 22 and a half million every year
“The first item was the the catch component. Catch was meant uh to be paid $110 million over five years time, 22 and a half million every year.”
Arturo Elizondo· 29 Jul 2025·
capital needed
value added tax incurred by Glenor was around $56 million
“Then you have all all the value added tax that was incured by Glenro when they were running these mines uh which accounts for around $56 million”
Arturo Elizondo· 29 Jul 2025·
capital needed
$9 million in net revenues and net proceeds in inventory
“Also, they left $9 million uh in the net uh revenues uh net proceeds and in the inventory.”
Arturo Elizondo· 29 Jul 2025·
cash position
treasury north of $65 million US
“So, uh making the 7.5 million payment in September and the following one in October will not be a problem. So, um uh that uh that has been definitely an important milestone for us as a company as your balance sheet is now very strong, very robust.”
Arturo Elizondo· 29 Jul 2025·
financing status
no streamings, no royalties
“The company has no streamings, no royalties.”
Arturo Elizondo· 29 Jul 2025·
financing status
making two more payments 7 and a half million one in September and the final one in October. At that moment we'll be technically free of debt.
“Uh we're making uh two more payments uh 7 and a half million one in September and the final one in October. At that moment we'll be technically free of debt.”
Arturo Elizondo· 29 Jul 2025·
financing status
restructured terms announced October 2024 with catch component of $80 million starting payments November 1st, 2025
“Then in October last year, October 2024, we announced the uh restructured uh terms where it's a very simple uh structure. It's a catch component that uh calls for $80 million starting payments in November 1st, 2025”
Arturo Elizondo· 29 Jul 2025·
financing status
$40 million payment to be done before November 1st, 2025
“or you can choose to accelerate that uh those payments under a $40 million payment to be done before November 1st, 2025. We choose this one.”
Arturo Elizondo· 29 Jul 2025·
financing status
CVRs conditional value rights up to $77 million when zinc crosses $3,850 per ton
“And the second one is what we called CVRs, conditional value rights. Those are uh up to $77 million. And the condition for those to kick in or to or to trigger uh payment on to Glenor are uh is just uh very straightforward. When sink crosses $3,850 per ton”
Arturo Elizondo· 29 Jul 2025·
financing status
paying around $1.3 million a month to Glenor when zinc condition is met until full $77 million paid over nine years
“When sink crosses $3,850 per ton, at that moment we'll be paying around $1.3 million a month to to to Glenor. No. Until you pay the full $77 million, right? If sink comes down at any moment, you stop paying uh making those payments and that uh that will last for nine years.”
Arturo Elizondo· 29 Jul 2025·
financing status
no more NSRs across the company, saving 10 to12 million a year
“Uh so you are saving 10 to12 million a year now.”
Arturo Elizondo· 29 Jul 2025·

Timeline 21 statements

Timeline 17

Key takeaway. Management has outlined a series of milestones for 2026.

Read the full summary

They expect the resource estimate and 43-101 technical report to be filed before August, and all permits to be on hand by August (May 2026), though in April they also said all permits should be on hand by August and in February they said all permits would be in hand by summer for Sorakaya. The Bolivar mine is expected to be back on track by end of Q3 and at full production and full capacity by then, with Q4 silver production there showing a 34% increase (May 2026); earlier in April they said Bolivar should be back on track by Q4 2026. Overall production is expected to rise around 10% more than last year (May 2026, Apr 2026). A graduation to the Toronto Stock Exchange is expected before June (May 2026). For Soracaya, full production is targeted by 2027, with small quantities of around 200–250 tons per day expected by Q4 2026 (Apr 2026). The Esperanza mine at Cavayo Blanco was about to reach commercial production, and commercial production was declared at the Simapan mine milling facility (Feb 2026). Separately, the company noted the last payment for the acquisition of Glenor assets from March 2022 was made in the week of the interview (Sep 2025).

What was actually said
milestone
By the end of Q3 Bolivar will be at full production and full capacity
“by the end of Q3 you'll have the mine at full um production and full capacity”
Arturo Préstamo· 12 May 2026·
milestone
Resource estimate and 43-101 technical report to be filed before August this year
“we'll be fully in compliance all of our minds with the technical report and that will allow us to give a a guidance but uh just roughly um mentioning I mean we'll we'll be producing around 10% uh more than last year”
Arturo Préstamo· 12 May 2026·
milestone
Q1 saw an increase in production at Bolivar compared to Q4 last year
“You'll see Q1 uh well you already saw Q1 increase in prod production when compared to Q4 last year”
Arturo Préstamo· 12 May 2026·
Show the other 14 statements
production
Overall production expected to increase around 10% more than last year
“we'll we'll be producing around 10% uh more than last year. we'll have a 10% increase in our in our production overall”
Arturo Préstamo· 12 May 2026·
milestone
Bolivar back on track by end of Q3
“we're going to be back on track uh as we said um earlier uh by the end of Q3 this year and that mine will be uh very robust”
Arturo Préstamo· 07 May 2026·
milestone
graduation to Toronto Stock Exchange before June
“graduating the company to the big board on on the Toronto Stock Exchange that should be uh relatively soon in the next coming weeks or uh no later than uh before this uh June”
Arturo Préstamo· 07 May 2026·
first production
Soracaya full production by 2027
“and that mine by Q4 should start producing small quantities around 200 250 tons per day but that will be in preparation for its its full production by 2027.”
Arturo Préstamo· 16 Apr 2026·
milestone
that mine by Q4 should start producing small quantities around 200 250 tons per day
“and um and that mine by Q4 should start producing small quantities around 200 250 tons per day but that will be in preparation for its its full production by 2027.”
Arturo Préstamo· 16 Apr 2026·
milestone
Q4 2026 we should have that the Bolivar mine back on track
“You talked about a Q426. Q426 we should have that the Bolivar mine back on track as as it's budgeted.”
Arturo Préstamo· 16 Apr 2026·
milestone
Q4 shows actually an increase of 34% of silver production by Bolivar
“So, Q4 shows actually an increase of 34% of silver production by Bolivar.”
Arturo Préstamo· 16 Apr 2026·
milestone
around 10% increase in our production for the year
“But we expect around 10% increase in our production and for the year.”
Arturo Préstamo· 16 Apr 2026·
permit timing
we expect all permits to be on hand by August this year
“Uh we expect all permits to be on hand by August this year uh and before summer um ends before summer ends”
Arturo Préstamo· 16 Apr 2026·
milestone
Esperanza mine at Cavayo Blanco about to reach commercial production
“We're about to declare commercial production into that mine uh into the Esparansa mine.”
Arturo Préstamo· 15 Feb 2026·
milestone
Commercial production declared at Simapan mine milling facility
“we're just about to declare commercial production at Simapan mine um milling facility”
Arturo Préstamo· 15 Feb 2026·
permit timing
All permits in hand by summer for Sorakaya, production by Q4
“we expect to have all permits in hand by this summer and by September by Q4 we should start production at Sorakay.”
Arturo Préstamo· 15 Feb 2026·
milestone
acquisition of Glenor assets from March 2022, last payment in week of interview
“We paid our last uh uh base purchase price for the Glenor acquisition assets from all the Bolivian assets that we acquired uh back in March 2022.”
Arturo Préstamo· 12 Sep 2025·
milestone
acquired assets from Glenor back in March 2022
“Uh we are just amortizing or or finalizing our final uh payments to the all the assets that we bought from Glenor back in March 2022.”
Arturo Elizondo· 29 Jul 2025·

Catalysts 4

Key takeaway. Management at Santacruz Silver has outlined several upcoming catalysts across recent interviews.

Read the full summary

In July 2025, the company said it was putting in place a buyback program in the coming months, pursuing an eventual US listing, and working to graduate the company to the full TSX. More recently, in September 2025, management added that the next milestone is to grow organically and that it plans to announce initiatives soon.

What was actually said
next milestone
plans to grow organically, announce initiatives soon
“we have plans to grow organically very soon we will announce some uh ideas some initiatives in that line”
Arturo Préstamo· 12 Sep 2025·
next milestone
eventually listing to the US
“We're going to graduate the company to the big board to the full TSX and eventually we'll go uh listing to the to the US.”
Arturo Elizondo· 29 Jul 2025·
next milestone
putting in place a buyback program in the next coming months
“We, as I was pointing out, we are going to be putting in place a buyback program uh in the next coming months.”
Arturo Elizondo· 29 Jul 2025·
Show the other 1 statement
next milestone
graduate the company to the big board to the full TSX
“We're going to graduate the company to the big board to the full TSX and eventually we'll go uh listing to the to the US.”
Arturo Elizondo· 29 Jul 2025·

Corporate 5 statements

Management 2

Key takeaway. Management points to its track record: as of July 2025, the company employed close to 3,000 people, and it notes that it paid Glencore out by April 2026.

What was actually said
track record
we paid Glencore out
“As you point out I mean last year we paid Glencore out we paid them around 40 million dollars”
Arturo Préstamo· 16 Apr 2026·
track record
close to 3,000 employees
“We have close to 3,000 employees and, uh, Bolivia has been, uh, definitely a gamecher for us”
Arturo Elizondo· 29 Jul 2025·

Share structure 1

What was actually said
milestone
Listed on NASDAQ in January 21st, 2021
“we came public in uh in June uh sorry, in January uh 21st on NASDAQ”
Arturo Préstamo· 12 May 2026·

Market 2

Key takeaway. Management says the company operates with retained gains and positive cash flow as of May 2026.

Read the full summary

The company also reports producing about 18 million ounces of silver equivalent on a yearly basis as of July 2025.

What was actually said
cost curve position
Company operates with retained gains and positive cash flow
“The company now operates from a position of a accumulating retained uh gains.”
Arturo Préstamo· 12 May 2026·
cost curve position
18 million ounces silver equivalent on a yearly basis
“So silver equivalent, we're in the 18 million ounces uh more or less silver equivalent on a yearly basis.”
Arturo Elizondo· 29 Jul 2025·

Outside views 1 mention

1 mention by people who do not speak for the company. These are their views, not the company's.

Clive Thompson
neutral
Viewer holds it; Thompson suggests checking copper exposure within it
Clive Thompson· 18 Nov 2025·

Sources 7 interviews

Every interview 7

DateChannelInterviewStatements
12 May 2026 The Deep Dive Silver Is Strong Again, and This Producer Is Ramping Up | Arturo Prestamo - Santacruz Silver 11
07 May 2026 Crux Investor Santacruz Silver Mining (TSXV:SCZ) - 'Undervalued?' Investment Series, with Arturo Préstamo 10
20 Apr 2026 MiningStockEducation.com How to Identify Elite Geologists & New Discoveries Others Miss: Insights from Quinton Hennigh No claims identified
16 Apr 2026 Crux Investor Santacruz Silver Mining (TSXV:SCZ) - Record Results and 2026 Growth Outlook 16
15 Feb 2026 Crux Investor Santacruz Silver (TSXV:SCZ) - 2026 Set for More Gains as Large Treasury Builds 12
12 Sep 2025 The Deep Dive Pure Silver Play Delivers 700% in a Gold Bull Market! | Arturo Préstamo - Santacruz Silver 10
29 Jul 2025 The Deep Dive $40 Silver Will Be the New Floor!? | Arturo Elizondo - Santacruz Silver 23

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

silver 4
santacruz silver mining 4
glencore 3
zinc 3
bolivar mine 3
gold 3
san lucas 3
caballo blanco 2

Questions people ask

What is Santacruz Silver's project and where is it?

Santacruz Silver is a producer silver company, with a project stated to be in Bolivia. Everything here is drawn from its executives' own interviews.

Which interviews mention Santacruz Silver?

We track 7 interviews mentioning Santacruz Silver, across 3 channels (Crux Investor, MiningStockEducation.com, The Deep Dive).

What are investors saying about Santacruz Silver?

1 independent voice — people who do not speak for the company — are on record discussing it (1 neutral). Their reasoning is quoted in the outside-view section above.

What do recent interviews with Santacruz Silver cover?

The most-discussed topics on record are financing, timeline, economics, the deposit — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

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