Recent Insider Transactions • Jun 10
CEO & Executive Chairman recently bought US$148k worth of stock On the 8th of June, Arturo Prestamo Elizondo bought around 23k shares on-market at roughly US$6.42 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Arturo's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to US$6.40, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total returns to shareholders of 662% over the past three years. Reported Earnings • May 18
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: US$0.31 (up from US$0.11 in 1Q 2025). Revenue: US$127.5m (up 81% from 1Q 2025). Net income: US$28.5m (up 201% from 1Q 2025). Profit margin: 22% (up from 13% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 1.6%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 116% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$9.43, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total returns to shareholders of 925% over the past three years. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$9.20, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Metals and Mining industry in the US. Total returns to shareholders of 608% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$9.07 per share. Reported Earnings • Apr 04
Full year 2025 earnings released: EPS: US$0.47 (vs US$1.86 in FY 2024) Full year 2025 results: EPS: US$0.47 (down from US$1.86 in FY 2024). Revenue: US$326.4m (up 15% from FY 2024). Net income: US$42.2m (down 74% from FY 2024). Profit margin: 13% (down from 58% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Mar 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to US$7.14. The fair value is estimated to be US$9.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$8.65, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 12x in the Metals and Mining industry in the US. Total returns to shareholders of 606% over the past three years. Recent Insider Transactions • Mar 10
Independent Director recently sold US$273k worth of stock On the 6th of March, W. Girling sold around 26k shares on-market at roughly US$10.72 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$306k. Insiders have been net sellers, collectively disposing of US$6.1m more than they bought in the last 12 months. Recent Insider Transactions • Feb 23
Independent Director recently sold US$213k worth of stock On the 20th of February, W. Girling sold around 22k shares on-market at roughly US$9.89 per share. This transaction amounted to 3.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$291k. Insiders have been net sellers, collectively disposing of US$5.5m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$9.95, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Metals and Mining industry in the US. Total returns to shareholders of 857% over the past three years. Recent Insider Transactions • Feb 09
Independent Director recently sold US$245k worth of stock On the 6th of February, W. Girling sold around 21k shares on-market at roughly US$11.73 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$4.7m more than they bought in the last 12 months. New Risk • Feb 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (20% net profit margin). Significant insider selling over the past 3 months (US$217k sold). Buy Or Sell Opportunity • Feb 06
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 111% to US$11.12. The fair value is estimated to be US$8.99, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to US$12.08, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Metals and Mining industry in the US. Total returns to shareholders of 964% over the past three years. Announcement • Nov 18
Santacruz Silver Mining Ltd. Appoints Bruce Wolfson to its Board of Directors, Effective November 17, 2025 Santacruz Silver Mining Ltd. announced the appointment of Bruce Wolfson to the company's board of directors effective November 17, 2025. Mr. Wolfson brings over 40 years of experience in international finance, law, and investment management, with a distinguished career spanning emerging markets across Latin America and Asia. Throughout his career, Mr. Wolfson has been actively involved in structuring, placing, investing, and divesting public and private equity on behalf of both issuers and fund investors, as well as financing and restructuring emerging market debt. From 2015 to 2021, Mr. Wolfson served as General Counsel and, at times, Chief Compliance Officer of Jaguar Growth Partners, LLC. Prior to Jaguar, he was a member of the Corporate and Latin America Practice Groups at the global law firm Bingham McCutchen LLP
(now Morgan Lewis &Bockius LLP). Before that, he was a partner and general counsel at The Rohatyn Group and earlier held the position of Senior Managing
Director in the legal department at Bear, Stearns &Co. Inc., where he oversaw all legal work related to trading, sales, capital markets, and investment banking activities in the developing world. Earlier in his career, Mr. Wolfson served as Bank of America's resident counsel in Mexico from 1982 to 1986, where he was responsible for the legal aspects of restructuring the bank's Mexican loan portfolio. He has advised regulators in Latin America and Asia concerning foreign investment regulations and served on the Board of Directors of EMTA (the trade association of the emerging market trading and investment community) from 1994 to 2015. Announcement • Sep 23
Santacruz Silver Mining Ltd., Annual General Meeting, Nov 20, 2025 Santacruz Silver Mining Ltd., Annual General Meeting, Nov 20, 2025. Location: british columbia, vancouver Canada Announcement • Mar 03
Santacruz Silver Mining Ltd. Announces Appointment of Eduardo Torrecillas as Chief Operating Officer Santacruz Silver Mining Ltd. announced the appointment of Mr. Eduardo Torrecillas as Chief Operating Officer. With over 18 years of experience in senior leadership roles, prior to his appointment as Chief Operating Officer, Mr. Torrecillas served as Executive Chairman and President of Santacruz's Bolivian operations since March 2022. Before joining Grupo Minero Sinchi Wayra, Mr. Torrecillas spent more than 12 years at Minera San Cristóbal S.A., a subsidiary of Sumitomo Corporation, where he held key leadership roles, including Director of Occupational Health and Safety (OHS) and General Services. In addition to his corporate roles, Mr. Torrecillas has been President of the National Association of Mid-Tier Miners (ANMM) since April 2022. He was unanimously re-elected in March 2024 for a new two-year term (established in 1939, the ANMM has long represented private mining companies in Bolivia). In his new role, Mr. Torrecillas will oversee all operational functions across the Company's mines and exploration projects in Mexico and Bolivia. Announcement • Feb 28
Santacruz Silver Mining Ltd. announced that it has received BOB 70 million in funding Santacruz Silver Mining Ltd. announced that it has received BOB 70 million in a round of funding on February 27, 2025. The round is raised through promissory notes. The promissory notes bear interest at a rate of 6.25% per annum and will mature on February 15, 2026. Announcement • Oct 16
Santacruz Silver Announces Chief Financial Officer Changes Santacruz Silver Mining Ltd. announced that Mr. Gregg Orr, Chief Financial Officer of the Company, has resigned and Mr. Andres Bedregal, a seasoned finance executive with proven success in business development and strategic finance, has been appointed as the Interim Chief Financial Officer of the Company to replace Mr. Orr Mr. Bedregal is the current CFO for Sinchi Wayra S.A., a wholly-owned subsidiary of Santacruz Silver Mining Ltd. Since joining Sinchy Wayra S.A. in 2022 he has successfully led the Bolivian finance group's upgrading of the financial and management reporting systems as well as contributing to strategic business decisions these past three years. Announcement • Jul 16
Santacruz Silver Mining Ltd., Annual General Meeting, Sep 16, 2024 Santacruz Silver Mining Ltd., Annual General Meeting, Sep 16, 2024. Location: british columbia, vancouver Canada Announcement • Dec 19
An unknown private Mexican group acquired Impulsora Minera Santacruz S.A. de C.V. from Santacruz Silver Mining Ltd. (TSXV:SCZ). An unknown private Mexican group acquired Impulsora Minera Santacruz S.A. de C.V. from Santacruz Silver Mining Ltd. (TSXV:SCZ) on December 18, 2023. Santacruz Silver Mining will receive a nominal cash consideration in addition to the Buyer agreeing to accept certain obligations and liabilities from Santacruz Silver Mining as consideration for the sale of Impulsora Minera Santacruz. Wayne Corso, Chief Operating Officer of Santacruz Silver Mining, will work as a consultant for seamless transition.
An unknown private Mexican group completed the acquisition of Impulsora Minera Santacruz S.A. de C.V. from Santacruz Silver Mining Ltd. (TSXV:SCZ) on December 18, 2023. Announcement • Oct 20
Santacruz Silver Mining Ltd., Annual General Meeting, Dec 20, 2023 Santacruz Silver Mining Ltd., Annual General Meeting, Dec 20, 2023. 
