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Santacruz Silver Announces Second Payment to Glencore of US$7.5 Million Under Acceleration Plan
Santacruz Silver Announces Second Payment to Glencore of US$7.5 Million Under Acceleration Plan ...
About this update from Santacruz Silver Mining Ltd.
[{"type":"text","content":"\n\n\n\n Santacruz Silver Announces Second Payment to Glencore of US$7.5 Million Under Acceleration Plan\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n May 6, 2025\n \n\n /CNW/ -\n \n Santacruz Silver Mining Ltd.\n \n (TSXV: SCZ) (OTCQB: SCZMF) (FSE: 1SZ) (\"\n \n Santacruz\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has made the second payment of\n \n US$7.5 million\n \n to Glencore as part of the Company's previously announced plan to exercise its Acceleration Option and satisfy the Base Purchase Price related to the Bolivian assets acquisition.\n \n\n\n\n\n\n\n\n\n This second payment follows the initial\n \n US$10 million\n \n payment made on\n \n March 20, 2025\n \n , and is part of a structured payment plan designed to deliver total payments of\n \n US$40 million\n \n by\n \n October 31, 2025\n \n . The plan is expected to generate\n \n US$40 million\n \n in savings and reinforces the Company's commitment to financial discipline and long-term value creation.\n \n\n Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented: \"We are thrilled to be continuing to execute on this strategic plan, which reflects our disciplined financial approach. This second payment to Glencore demonstrates our ability to honor our commitments while maintaining a strong balance sheet and cash position. We remain focused on driving shareholder value through prudent capital management and operational excellence.\" Mr. Préstamo added: \"We would like to thank Glencore once again for their continued support and collaborative approach throughout this process. Our strong relationship with Glencore remains an important asset as we pursue our strategic goals in\n \n Bolivia\n \n and beyond.\"\n \n\n Please refer to the Company's\n \n October 3, 2024\n \n , and\n \n April 4, 2024\n \n , news releases for details on the payment structure for the Bolivian assets acquisition.\n \n\n\n About Santacruz Silver Mining Ltd\n \n .\n \n\n Santacruz Silver\n \n is engaged in the operation...