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Santacruz said the company and the Zimapan mine owner, Grupo Peñoles SAB, had decided to temporarily suspend mining, milling and exploration activities until about May 1, or as mandated by Mexican authorities, to better protect workers and local communities.

Rosario, Santacruz's smallest producer, is now its only operating mine.

COO Carlos Silva said a minimum number of personnel would remain onsite at Zimapan to maintain security and critical services.

In March, the company had suspended its Veta Grande mine in Zacatecas for six months following a review, to allow for upgrades to the plant and a new tailings storage facility.

Santacruz had expected to offset by 70% the Veta Grande production by the end of May, by increasing mill throughput at Zimapan and Rosario.

Rosario produced 465,576 silver-equivalent ounces last year, compared with Veta Grande's 761,262oz Aq-eq and Zimapan's 1.6 million ounces.

Santacruz's total 2.8Moz Ag-eq for 2019 was a 346% increase on the previous year after it acquired Carrizal Mining, which has a 20% interest in Veta Grande and the right to operate Zimapan until December 31.

Having gained an initial C$734,150 in February at 12c per unit in a raising aiming for $3 million, Santacruz said earlier this month it would not complete any further tranches.

Santacruz shares have ranged from 5-21c over the past year and closed up 9% yesterday to 12c, capitalising it at $25.2 million (US$17.7 million).