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Santacruz Silver Mining Ltd
Symbol SCZ
Shares Issued 103,493,484
Close 2014-11-20 C$ 0.415
Market Cap C$ 42,949,796
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Lundin says keep holding Santacruz Silver

2014-11-20 22:10 ET - In the News

Brien Lundin, in the November, 2014, edition of the Gold Newsletter, says hold Santacruz Silver Mining Ltd., recently 40 cents. Mr. Lundin said buy twice -- in August, 2013, at $1.25 and in April, 2014, at 92 cents. Assuming a $1,000 investment for each of the two buys, the $2,000 position is now worth $754. In the third quarter of 2014, Santacruz produced 115,445 ounces of silver, 94 ounces of gold, 185.9 tonnes of lead and 462.2 tonnes of zinc from its Rosario mine in Mexico. Those numbers amount to 184,900 ounces of silver equivalent, 9.9 per cent higher than the previous quarter. The average ore production rate was 380 tonnes per day, which left 8,500 tonnes of ore stockpiled. Santacruz is in the process of adding a third ball mill that will boost milling capacity to 450 tpd. That rate will rise further to 700 tpd once flotation cells are integrated into the milling circuit. All of this bodes well for Rosario's future production, says Mr. Lundin. If metal prices can make even a modest comeback, he adds, Santacruz is the kind of producer that should provide significant leverage. In the meantime, the stock remains a hold.

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