Santacruz Silver Mining Ltd – Third‑Quarter 2025 Financial Highlights
Santacruz Silver Mining Ltd. (TSX: SSM), a Vancouver‑based metals and mining company focused on silver exploration and production in Mexico, released its financial results for the third quarter and the nine‑month period ended 30 September 2025 on 28 November 2025.
Key Financial Metrics
| Metric | Q3 2025 | Q3 2024 | Change |
|---|---|---|---|
| Gross profit | Not disclosed | Not disclosed | — |
| Net income / GAAP EPS | $0.05 | Not disclosed | — |
| Revenue | $79.99 million | Not disclosed | — |
| Operating cash flow | Not disclosed | Not disclosed | — |
| Market‑cap (as of 27 Nov 2025) | — | — | — |
The company reported a GAAP earnings‑per‑share (EPS) of $0.05 for the quarter. Revenue for the period was $79.99 million, reflecting the company’s ongoing operations in Mexico.
Production Highlights
| Metric | Q3 2025 | Q3 2024 | YoY Change |
|---|---|---|---|
| Material processed (tonnes milled) | 486,585 t | 480,863 t | +1 % |
| Silver equivalent (tonnes) | Not disclosed | Not disclosed | — |
| Total production (9 months) | 1,439,221 t | 1,462,764 t | –2 % |
The company’s material throughput increased modestly in the third quarter, with a 1 % rise in tonnage milled compared with the same period in 2024. Over the nine‑month period, total production fell by 2 % year‑on‑year.
Management Commentary
During the Management Discussion & Analysis (MD&A) session accompanying the filing, senior management highlighted:
- Continued exploration and development activity in Mexico’s silver‑rich deposits.
- Operational efficiencies achieved through process optimisation and cost control initiatives.
- Focus on maintaining a robust cash position to support future capital expenditures and exploration programs.
No significant changes in capital structure, dividend policy, or debt levels were disclosed.
Market Context
- Stock price (27 Nov 2025): $2.41 CAD.
- 52‑week high (28 Sep 2025): $2.95 CAD.
- 52‑week low (29 Dec 2024): $0.26 CAD.
- Price‑earnings ratio: 9.41.
- Market capitalization: 631,980,000 CAD.
The company’s share price remains within a broad range of volatility, reflecting the cyclical nature of the metals and mining sector and the sensitivity of silver prices to macro‑economic factors.
Conclusion
Santacruz Silver Mining Ltd. reported modest earnings and revenue growth in the third quarter of 2025, alongside a slight increase in material throughput. Management emphasized operational efficiency and exploration continuity as key drivers for future performance. The company continues to operate within its established silver‑mining footprint in Mexico, while maintaining a focus on cost control and cash generation.
