On March 7th we launched the miningWEALTH premium service by recommending Santacruz Silver Mining (TSX.v: SCZ) (SZSMF). Sign up for the miningWEALTH premium service to access the full report. Santacruz is currently operating two silver mines: the Rosario Mine and the Veta Grande Mine. The company also has two late-stage exploration projects–San Felipe and Gavilanes–that offer exploration upside and optionality to rising metal prices (silver and zinc in particular). Shares of Santacruz have lost ~90% of their peak valuation as the price of silver has slumped, and as the company has faced a couple of specific issues. The first is that it financed its San Felipe Project through forward silver sales just before a decline in the silver price pushed management to decide not to develop the project. Santacruz was, and still is, on the hook for meeting these obligations, and investors have generally been cautious with indebted junior mining
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