Santacruz Silver Mining Ltd. (SCZM) has been rated as a Strong Buy due to a substantial transformation in its business strategy. The anticipated launch of the Soracaya asset in Q4-FY2026 is a pivotal factor, expected to produce 260 grams per tonne (g/t) of silver. This asset is projected to contribute to a $64.6 million cash recovery from operations in Bolivia, which could significantly lower the all-in sustaining costs (AISC) and support growth without diluting shareholder equity. Additionally, a metallurgical shift at the San Lucas site has resulted in positive margins, creating a competitive edge in trading third-party ore without incurring capital expenditure (CAPEX) or mining risks. However, the company faces risks, particularly from Zimapan's negative zinc margins and possible delays in rehabilitating Bolivar, which could impact free cash flow (FCF) if not addressed. Overall, with a projected upside of 80.2%, SCZM's stock price target is set at around $14.74, reflecting strong growth potential in the coming years.