Silver X Mining Corp. (TSXV: AGX; OTCQB: AGXPF; F: AGX) has reported its financial and operational results for the nine months ended September 30, 2025, highlighting a significant turnaround in Q3 and a strong outlook for 2026.
The company’s Nueva Recuperada Project in Central Peru saw steady operational improvements throughout the year, culminating in a robust September performance and an oversubscribed private placement that will fund accelerated development.
José M. Garcia, CEO of Silver X commented, “2025 has been a transformative year for Silver X. We strengthened our operating base month over month, accessed higher-value mineral areas, and demonstrated that Tangana can deliver strong margins when appropriately capitalized. The substantial improvement seen in September marked a clear turning point, and the capital we secured at the end of the quarter will allow us to push forward aggressively. We are now entering 2026 with the confidence and visibility of a company preparing to scale—potentially doubling production as development advances across the district.”
Financial Highlights:
- Operating income for the nine-month period reached $2.1M, compared to a $180K loss last year. Q3 operating income surged 166% to $486K versus a $733K loss in Q3 2024.
- Net loss narrowed by 80% year-to-date to $740K, and by 85% in Q3 to $330K.
- EBITDA remained positive, with Q3 EBITDA up 137% to $185K.
- Loss before tax decreased 93% year-to-date to $165K.
Operational Highlights:
- Processed tonnage fell 16% year-to-date and 28% in Q3, while AgEq production dropped 27% year-to-date.
- Average realized silver price rose 35% to $39.94/oz in Q3.
- Cash costs and AISC increased due to strategic CAPEX for Tangana development, with AISC at $36.8/oz in Q3.
Strategic Developments:
- September saw the release of a Preliminary Economic Assessment for a 3,000 tpd operation, projecting 6.2M AgEq oz annually over a 14-year mine life, with an after-tax NPV of $440M and AISC of $15.8/oz.
- A 40,000-meter drill campaign launched in October aims to expand and upgrade resources across Nueva Recuperada.
With fresh capital and a clear growth plan, Silver X expects to double metal output as operations ramp toward peak capacity in 2026.
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