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.
Silver X Mining Corp (AGXPF) generates frequent news flow around its silver-focused mining and development activities in Peru. The company’s updates center on the Nueva Recuperada Project, a district-scale land package with two mining units and more than 200 exploration targets, where it produces silver, gold, lead, and zinc and advances underground development and drilling programs.
Investors following AGXPF news can expect detailed operational reports from the Tangana Mining Unit, including quarterly production highlights such as processed tonnage and silver-equivalent ounces. The company also releases information on exploration results, including underground channel sampling and drilling at high-grade targets like Red Silver and Tangana West, where it has reported strong silver grades and defined multiple mineralized shoots.
Silver X’s news flow also covers strategic and corporate developments. Recent releases describe a 40,000-metre diamond drill campaign, described as the largest in the company’s history, as well as a 1,200-metre underground drill program at Red Silver. The company reports on Preliminary Economic Assessment milestones for Nueva Recuperada, capital raises through bought deal and non-brokered private placements, and the planned restart of the Plata Mining Unit within the same district.
In addition, AGXPF news includes management and governance updates, incentive grants under the company’s omnibus incentive plan, and the engagement of independent strategic advisors to support operational transformation and performance management. For readers tracking silver and polymetallic mining in Peru, the Silver X news page offers a consolidated view of exploration results, production trends, capital programs, and corporate actions tied to the Nueva Recuperada Project.
Silver X Mining Corp. (AGXPF) has reported significant operational and financial improvements for FY2024 and Q4 2024. The company achieved a positive EBITDA of US$1.7M for the full year, with net operating revenues increasing 39% to $21.9M in 2024.
Key highlights include a 36% increase in processed tonnage to 170,676 tonnes and a 20% increase in silver equivalent production to 1,100,899 ounces in 2024. The company's Q4 performance showed a 21% increase in processed tonnage and a 33% increase in realized silver price to $30.94/oz.
Financial improvements include reduced losses, with net loss before tax decreasing to $3.4M in 2024 from $10.8M in 2023. Production costs improved with a 15.3% decrease in cash cost per tonne to $106 in 2024. The company plans to expand production at its Tangana Mining Unit and bring the new Plata Mining Unit into production by 2026.
Silver X Mining (TSXV:AGX)(OTCQB:AGXPF) has filed an NI 43-101 technical report for its Nueva Recuperada Project in Huancavelica, Peru, highlighting significant resource growth. The report, effective October 1, 2024, shows:
- Measured and Indicated resources increased 18% to 4.26 million tonnes, with 70% growth in contained silver to 14.00 million ounces
- Inferred resources grew 45% to 17.18 million tonnes, with 50% increase in contained silver to 88.00 million ounces
- Plata Mining Unit's indicated resources reached 0.95 MT at 6.11 oz/ton Ag (5.81 Moz silver)
- Zinc in M+I resources increased 100% to 94.7 kT
- Lead in M+I resources grew 25% to 80.1 kT
Silver X Mining Corp (TSXV: AGX) (OTCQB: AGXPF) is expanding its silver production operations in central Peru through its Nueva Recuperada Silver Project, which spans 20,472 hectares. The company operates the Tangana Mining Unit, producing silver, gold, lead, and zinc, while demonstrating consistent quarter-over-quarter production growth.
The company positions itself as a rapidly growing silver producer-developer focused on delivering value through asset consolidation, resource development, and production expansion. Silver X's strategy includes supporting local communities and environmental stewardship while offering investors early-stage access to a silver producer with strong growth potential.
Silver X Mining (TSXV:AGX)(OTCQB:AGXPF) has announced a new equity compensation package for its directors and officers. The package includes 450,000 restricted share units with a 1-year term and 700,000 stock options with a 5-year term at an exercise price of C$0.17 per share. The grants are pending approval from the TSX Venture Exchange and are being issued under the company's omnibus incentive plan dated August 9, 2024.
Silver X Mining Corp (TSXV:AGX)(OTCQB:AGXPF) has successfully closed its previously announced private placement, raising C$3.5 million in gross proceeds. The offering included the full exercise of the agent's option for C$500,000 and featured a lead order from Palisades Goldcorp .
The company sold 20,588,235 units at C$0.17 per unit. Each unit comprises one common share and one purchase warrant, with each warrant allowing the purchase of one common share at C$0.25 until March 13, 2028. Red Cloud Securities, acting as sole agent, received C$208,980 in cash commission and 1,229,294 broker warrants.
The net proceeds will fund capital and exploration expenditures at the company's Nueva Recuperada Silver District operations in Peru, along with working capital and general corporate purposes.
Silver X Mining Corp (TSXV:AGX)(OTCQB:AGXPF) has announced a brokered private placement agreement with Red Cloud Securities to raise up to C$3.0 million. The offering includes up to 17,647,059 units at C$0.17 per unit, with each unit comprising one common share and one warrant exercisable at C$0.25 for 36 months.
The Agent has an option to sell an additional 2,941,176 units to raise up to C$500,000 more. The offering will be available in select Canadian provinces and is expected to close on March 13, 2025.
Proceeds will fund capital and exploration expenditures at the company's Nueva Recuperada Silver District operations in Peru, along with working capital and general corporate purposes.
Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF) has announced a significant update to its mineral resource estimate for the Nueva Recuperada Property in Huancavelica, Peru. The update shows substantial growth across all resource categories:
- Overall property measured and indicated resources increased 18% to 4.26 MT
- Inferred resources grew 45% to 17.18 MT
- The Plata Mining Unit now contains indicated recoverable resources of 0.951 MT at 6.11 opt Ag, 4.24% Zn and 2.44% Pb
- Total contained silver for Plata Mining Unit: 5.81 Moz Ag (indicated) and 26.00 Moz Ag (inferred)
The Plata Mining Unit, located 15 km from the Nueva Recuperada Plant, encompasses 8 royalty-free mining concessions covering 4,228.5 hectares. The unit features over 120 km of 19 mineralized veins, with over 170 individual veins recognized within the concessions.
Silver X Mining has secured a loan facility agreement with Trafigura PTE for up to US$1.4 million, available to its wholly owned subsidiary Recuperada S.A.C. The loan has a 25-month tenor with interest based on SOFR plus 6% per annum. The facility will be used for capital expenditures and working capital.
The agreement includes the issuance of 1,500,000 common share purchase warrants to Trafigura's affiliate, Urion Holdings. The warrants will be exercisable for 25 months at a 25% premium to the 20-day VWAP of Silver X's shares. The company also announced the retirement of COO Freddy Mayor, with CEO Jose M. Garcia temporarily assuming COO responsibilities.
Silver X Mining reports Q3 2024 financial results with revenues of $5.0 million, up from $2.1 million in Q3 2023. The company showed improved financial metrics with Adjusted EBITDA loss narrowing to $0.1M from $1.0M year-over-year. Cash costs decreased to $21.5 per AgEq ounce produced, while AISC was $26.2 per AgEq ounce. Notable improvements include a 32.3% reduction in cash cost per tonne to $100 in Q3 2024 from $148 in Q3 2023. The company invested $1.0 million in the development of the Tangana mining unit, contributing $3.9 per AgEq ounce to the AISC.
Silver X Mining announced the termination of its previously announced private placement from October 30, 2024, citing unfavorable market conditions. CEO Jose Garcia attributed the decision to the dramatic decline in equity prices and metal prices, particularly silver, stating that completing the offering would not serve shareholders' best interests under current market circumstances.