Welcome to our dedicated page for Silver X Mining news (Ticker: AGXPF), a resource for investors and traders seeking the latest updates and insights on Silver X Mining stock.
About Silver X Mining Corp. (AGXPF)
Silver X Mining Corp. is a dynamic and rapidly expanding silver producer and developer operating in the Americas. The company owns the 20,472-hectare Nueva Recuperada Silver District located in Central Peru, a region renowned for its rich mineral resources. Silver X focuses on the extraction and production of silver, gold, lead, and zinc from its flagship Tangana Mining Unit and the recently expanded Plata Mining Unit. With a strategic emphasis on consolidating undervalued assets, increasing production, and expanding resources, Silver X is positioning itself as a premier silver mining company.
Core Operations and Assets
The Nueva Recuperada Silver District is a district-scale property featuring over 170 mapped veins, making it one of the most promising silver projects in South America. The company has successfully transitioned from exploration to production, leveraging both historical data and modern mining techniques. The Tangana Mining Unit serves as the cornerstone of current production, while the Plata Mining Unit adds significant resource potential, with over 6.35 MT of resources identified across 19 veins.
Strategic Growth and Resource Expansion
Silver X is committed to organic growth through exploration and resource development. Recent updates to the mineral resource estimate highlight an 18% increase in measured and indicated resources and a 45% increase in inferred resources across the Nueva Recuperada Property. These expansions underscore the company’s ability to identify and develop high-grade mineralization zones, ensuring long-term production sustainability.
Commitment to Sustainability and Community
Silver X aspires to achieve social and environmental excellence by fostering sustainable practices and supporting local communities. The company emphasizes responsible mining operations, including workforce training, safety measures, and environmental stewardship. Its long-term agreements with local communities and infrastructure investments demonstrate a commitment to mutual growth and sustainability.
Market Position and Investment Potential
Silver X Mining offers investors the opportunity to participate in the early stages of a growing silver producer with robust growth prospects. The company’s focus on brownfield expansion, coupled with its operational stability and resource-rich assets, positions it as a compelling choice for those seeking exposure to the silver mining sector. By integrating exploration, production, and community engagement, Silver X is poised to deliver value to stakeholders while contributing to the global demand for precious metals.
Silver X Mining Corp. (TSX-V:AGX)(OTCQB:AGXPF) reported revenues of $13.9 million for the fiscal year 2022, a 237% increase from FY 2021. Q4 2022 revenues also rose to $3.9 million, up 216% year-over-year.
The company achieved commercial production at the Nueva Recuperada project's Tangana Mining Unit in January 2023, with robust production metrics, including 302,386 AgEq ounces produced in Q4 2022. Despite disruptions from road closures in Peru, production has stabilized.
Cash costs for Q4 2022 were $14.6 per AgEq ounce, while All-In-Sustaining Costs were $21.5 per AgEq ounce. The operational momentum is expected to build through 2023, focusing on maximizing production and exploration potential at the Nueva Recuperada Silver District.
Silver X Mining Corp. (TSX-V:AGX)(OTCQB:AGXPF) has filed an independent technical report titled "Nueva Recuperada, Huancavelica, Peru. Preliminary Economic Assessment" following its January news release. The report, dated April 4, 2023, provides a preliminary economic assessment for the Tangana Mining Unit extension. It includes updated mineral resource grades but maintains the same tonnage as previously reported. The effective date for mineral resources is corrected to October 31, 2022, from February 13, 2023. The report highlights several categories of mineral resources, including a total of 3.61 million tonnes measured and indicated, and 11.89 million tonnes inferred. The results emphasize the speculative nature of inferred resources and the associated risks as production decisions are not based on proven reserves.
Silver X Mining Corp. (AGXPF) announced positive results from a Preliminary Economic Assessment (PEA) for its Tangana Mining Unit, part of the Nueva Recuperada Silver District. The PEA, compliant with NI 43-101 standards, indicates plans to triple production capacity from 720 to 2,220 tonnes per day by 2026. Key highlights include upgraded mineral resources of 3.60 Mt Measured and Indicated from 0.98 Mt, demonstrating a 300% increase. The project has a life of mine of 12 years with an after-tax NPV of $175 million and an IRR of 39%. Initial capital costs are estimated at $61 million, supporting the company's growth ambitions.
Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF) has appointed Fiona Grant Leydier as Vice President of Investor Relations and Corporate Marketing. With 17 years of experience, including a previous role at Great Panther Mining, she aims to enhance stakeholder communications. The Company will grant her 150,000 stock options, with vesting based on her tenure. Approval from the TSX Venture Exchange is pending. Silver X operates the Tangana silver project in Peru, focusing on creating shareholder value.
Silver X Mining Corp. (TSX-V:AGX)(OTC QB:AGXPF) announces participation in two key investment conferences: the Metals Investor Forum on January 27-28 and the Vancouver Resource Investment Conference on January 29-30, 2023. Investors can engage with management for insights on the company's milestones and catalysts. Silver X is advancing its Tangana project in Central Peru, aimed at producing over 5 Moz AgEq by 2025. The company declared commercial production in January 2023, following successful operations in 2022.
Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF) announced significant production results for Q4 and H2 2022 from its Tangana mining unit in Peru, declaring commercial production effective January 2023. In H2 2022, the company processed 874,662 oz AgEq, a 181% increase from the previous year, and produced 673,458 oz AgEq, up 159%. For Q4 2022, production reached 302,386 oz AgEq, a 101% increase compared to Q4 2021. The company is optimistic about future production stability but acknowledges potential short-term grade variations. Minor logistical disruptions were reported, but the plant is expected to return to full capacity soon.
Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF) has provided an operational update amidst political unrest in Peru. Their Nueva Recuperada operation remains secure despite localized demonstrations elsewhere in the country. However, production has slowed due to supply chain disruptions, with a full return to capacity anticipated within the first two weeks of January 2023. The company is monitoring the situation closely and will provide updates as necessary.
Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF) reported remarkable interim financial results for Q3 2022, with operating revenues reaching $5.5 million, up 73% from the previous quarter. The company achieved operating earnings of $2.0 million and a net gain of $0.2 million, marking the first net gain for the company. Production improvements led to record processing of 481,040 AgEq ounces. Despite this, the company incurred a comprehensive loss of $0.9 million due to foreign currency translation losses. The financial position improved, with cash holdings of $0.9 million.
Silver X Mining Corp. (AGXPF) announced the discovery of disseminated gold-silver targets at its Ccasahuasi Project near the Tangana mine in Peru. The project spans 1,350 ha and features a 160 ha alteration zone identified in 2021. Preliminary geological studies suggest potential for significant mineralization. The company plans a short exploratory drill program and a surface sampling campaign to evaluate further gold results. The project is strategically located within the Central Peru Epithermal Gold-Silver Belt, close to Pan American's Pico Machay project.
Silver X Mining Corp. (TSXV:AGX, OTCQB:AGXPF) announced its participation in the 121 Mining Investment event in London on November 22-23, 2022. Investors can meet management for updates on the company’s milestones and catalysts by contacting info@silverxmining.com. The company operates the Tangana project in Peru and aims to produce over 2 Moz AgEq in 2023, rising to 5 Moz AgEq by 2025. Silver X is also advancing the Plata-Esperanza Mine for a 2024 restart.
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