SUBSEQUENT EVENTS:	3 Months Ended
Mar. 31, 2023
SUBSEQUENT EVENTS:
SUBSEQUENT EVENTS:	NOTE 15 — SUBSEQUENT EVENTS: Dividends: On April 20, 2023, the Board of Directors authorized a dividend of $1.00 per share payable on May 23, 2023 to shareholders of record at the close of business on May 9, 2023. Change in Mexican Mining Law: On April 29 2023, Mexican Senate approved a fast-track bill that would impact the mining industry. The main aspects that will be affected by this legislation are as follows: First, the mining concession period for new projects will be shortened from 50 years to 30 years plus two renewal periods for new concessions, the second of which will require a tender where the holder of the concession will be given preference. Second, new restrictions and conditions have been set forth for water use. Under this legislation, companies must recover at least 60% of the water utilized. Water rights will be conceded by the National Water Commission “CONAGUA” for a period that matches the concession period and operations must measure their use. It is important to note the SCC currently exceeds all of these requirements through a comprehensive water management plan, which contemplates best environmental and social practices. Third, companies must establish a financial vehicle that acts as a guarantee to cover potential environmental liabilities and to cover restoration, closure, post-closure and remediation. SCC’s responsible approach to prevention, and the fact that it is subject to stricter guidelines for environmental obligations under USGAAP ASC 410, means that the Company is already well ahead of the curve in this regard. Fourth, the Law stipulates significant changes to exploration governance. Under this legislation, exploration will be conducted by a state-run entity, the Mexican Geological Service (SGM). Private parties can present information on the potential existence of minerals to the Secretariat of the Economy, which will decide if exploration should proceed. This represents a significant impact for companies that invest in exploration projects, and SCC is not the exception. The Company will be analyzing this situation as it evolves. Fifth, no concessions will be granted in National Protected Areas (ANP) and the requirement to remit 5% of net earnings to indigenous communities for new projects. Down the line, the aforementioned changes could trigger amendment, additions and repeals of provisions of a number of laws, including the Mining Law, the National Water Law, the General Law for Ecological Balance and Environmental Protection and the General Law for the Prevention and Management of Mine Waste.

SUBSEQUENT EVENTS:

3 Months Ended

Mar. 31, 2023

NOTE 15 — SUBSEQUENT EVENTS:

Dividends:

On April 20, 2023, the Board of Directors authorized a dividend of $1.00 per share payable on May 23, 2023 to shareholders of record at the close of business on May 9, 2023.

Change in Mexican Mining Law:

On April 29 2023, Mexican Senate approved a fast-track bill that would impact the mining industry. The main aspects that will be affected by this legislation are as follows:

First, the mining concession period for new projects will be shortened from 50 years to 30 years plus two renewal periods for new concessions, the second of which will require a tender where the holder of the concession will be given preference.

Second, new restrictions and conditions have been set forth for water use. Under this legislation, companies must recover at least 60% of the water utilized. Water rights will be conceded by the National Water Commission “CONAGUA” for a period that matches the concession period and operations must measure their use. It is important to note the SCC currently exceeds all of these requirements through a comprehensive water management plan, which contemplates best environmental and social practices.

Third, companies must establish a financial vehicle that acts as a guarantee to cover potential environmental liabilities and to cover restoration, closure, post-closure and remediation. SCC’s responsible approach to prevention, and the fact that it is subject to stricter guidelines for environmental obligations under USGAAP ASC 410, means that the Company is already well ahead of the curve in this regard.

Fourth, the Law stipulates significant changes to exploration governance. Under this legislation, exploration will be conducted by a state-run entity, the Mexican Geological Service (SGM). Private parties can present information on the potential existence of minerals to the Secretariat of the Economy, which will decide if exploration should proceed. This represents a significant impact for companies that invest in exploration projects, and SCC is not the exception. The Company will be analyzing this situation as it evolves.

Fifth, no concessions will be granted in National Protected Areas (ANP) and the requirement to remit 5% of net earnings to indigenous communities for new projects.

Down the line, the aforementioned changes could trigger amendment, additions and repeals of provisions of a number of laws, including the Mining Law, the National Water Law, the General Law for Ecological Balance and Environmental Protection and the General Law for the Prevention and Management of Mine Waste.