RE:SCZ 2ndQuarter2015 ResultsRosario mine is their bread and butter and for what it is has decent grades. The cash cost is still hurting their bottom line. Also, the San Felipe payment is gonna kill their already weak balance sheet. They kicked the can down the road by pushing the 5M payment to Dec 2016. Now they have rolled up their payments into a one whopping $15 Million at the end of next year. Can't see them making this payment unless they go to market, JV or obtain a credit facility.
In all honesty, the San Felipe mine is crippling the balance sheet. The cost to obtain the mine is about ~30M (last time I checked) including all exploration costs. They should think about renegotiating the purchase deal.