Operational Results and Costs
Rosario Project
In Q3 2017 silver equivalent production from the Rosario Project increased by 2% (2,972 ounces) compared to Q2 2017 as a result of higher head grades offset by lower mill throughput tonnage. Compared to Q3 2016 the silver equivalent production decreased by 23% from 164,924 ounces to 127,689 ounces. The decrease reflects the 23% decrease in tonnes milled. The lower mill throughput tonnage realized in Q3 2017 reflects reduced availability of certain production equipment due to working capital constraints and a heavier than normal rainy season that slowed mining operations in both August and September. With the completion of the sale of the Gavilanes property in August the Company was able to put all production equipment back in service by quarter end. The cash operating cost per tonne of mineralized material processed ($68.68/t) was virtually unchanged from Q2 2017 ($68.80/t). The Q3 2017 unit costs were higher than expected due to the low production volume. Compared to Q3 2016, cash cost of production per tonne stayed consistent as the percentage decrease in cash cost of production was matched by an equivalent percentage decrease in production tonnage. Cash cost of production per silver equivalent ounce sold decreased by 17% in Q3 2017 to $20.40/oz as compared to $24.64/oz in Q2 2017. This change in unit costs is due primarily to the 32% decrease in mineralized material processed that resulted in in a decrease of production costs offset by a higher head grade of silver, gold, lead, and zinc. Compared to Q3 2016, cash cost of production per silver equivalent ounce increased by 67% reflecting the significantly lower head grades of silver, lead and zinc and lower recoveries of silver and lead realized in Q3 2017. All-in sustaining cash cost of production per silver equivalent ounce sold decreased by 15% in Q3 2017 to $24.33/oz as compared to $28.69/oz in Q2 2017. This change in unit costs is again due to the decrease (32%) in production costs during the quarter offset by a 3% decrease in payable ounces sold. Compared to Q3 2016, the all-in sustaining cash cost of production per silver equivalent ounce increased by 53% reflecting significantly lower head grades of silver, lead and zinc and lower recoveries of silver and lead offset by a higher recovery of zinc realized in Q3 2017. https://www.prnewswire.com/news-releases/...al-results-660529123.html
Santacruz Silver nombra COO a Carlos Alberto Silva
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