en.Wedoany.com Reported - Santacruz Silver Mining Ltd. released its financial results for the first quarter of 2026 on May 15, 2026. The report shows the company achieved revenue of US$127.5 million for the quarter, an 81% year-over-year increase; gross profit of US$42.9 million, a 54% year-over-year increase; net income of US$28.5 million, a 201% year-over-year increase; and adjusted EBITDA of US$42.6 million, a 55% year-over-year increase. As of the quarter end, cash and highly liquid marketable securities reached US$64.9 million, a 100% year-over-year increase, and working capital stood at US$75.9 million, a 47% year-over-year increase.

Operationally, in the first quarter of 2026, the company processed a total of 487,800 tonnes of ore, producing 1,341,500 ounces of silver and 21,600 tonnes of zinc. Of this, mining operations processed 393,000 tonnes, producing 1,000,100 ounces of silver and 14,500 tonnes of zinc; ore processing (San Lucas business) handled 94,800 tonnes, producing 341,400 ounces of silver and 7,100 tonnes of zinc. On a co-product basis, mining operations achieved an average realized price of US$63.30 per ounce of silver sold, a 128% year-over-year increase; All-In Sustaining Cost (AISC) was US$31.60/oz, a 76% year-over-year increase; resulting in a mining margin of US$31.70/oz, a 221% year-over-year increase. The average realized price per tonne of zinc sold was US$3,116, a 12% year-over-year increase; AISC was US$2,729/tonne, a 32% year-over-year increase; resulting in a mining margin of US$387/tonne, a 46% year-over-year decrease.

The company also updated its reporting methodology for non-GAAP performance metrics, separating the presentation of mining operations and ore processing operations, and adopting a co-product costing method to more clearly reflect the unit economics of the two main payable metals, silver and zinc. Executive Chairman and CEO Arturo Préstamo stated that strong silver prices combined with stable AISC in the first quarter generated significant cash flow for the company and maintained a healthy financial position. He also noted that the areas of the Bolivar mine affected by the water inflow event in May 2025 are being recovered, with efforts aimed at achieving full production resumption by the fourth quarter of 2026; the Zimapan mine in Mexico will continue to optimize metallurgical recovery rates and concentrate quality.

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