en.Wedoany.com Reported - Silver X Mining Corp. (TSX-V: AGX), a silver producer headquartered in Vancouver, Canada, achieved record operating revenue in the first quarter of 2026, with quarterly revenue reaching C$13.4 million (approximately US$13.53 million), a 155% increase compared to the same period in 2025. The company generated operating income of C$7 million in the quarter, up 791% year-over-year, and net profit of C$4.6 million, compared to a net loss of C$0.3 million in the same period of 2025. As of March 31, 2026, the company held cash and cash equivalents of C$53.8 million, an increase of C$10.1 million from December 31, 2025.
Silver X Mining is a silver producer and developer focused on a portfolio of assets in Peru, headquartered in Vancouver, British Columbia, Canada. Founded in 2009, the company is listed on the TSX Venture Exchange. Its core asset is the Nueva Recuperada silver district in central Peru, covering approximately 20,000 hectares and comprising the Tangana production unit, the Plata restart-ready unit, and multiple development and high-potential exploration targets. The Tangana project has been in operation since 2021, producing silver, gold, lead, and zinc. In March 2026, the mill at the district operated steadily at a design capacity of approximately 750 tonnes per day.
In terms of operations, Silver X Mining processed 44,883 tonnes of ore in the first quarter of 2026, a 12% increase year-over-year; ore mined totaled 40,946 tonnes, roughly flat compared to the same period last year. Silver production increased 35% year-over-year and 9% quarter-over-quarter. During the period, the average realized price for silver was US$91.39 per ounce, up 189% year-over-year; the average realized price for gold was US$5,131 per ounce, up 81% year-over-year.
CEO José Garcia stated that the strong performance of precious metal prices, combined with solid execution at the core Nueva Recuperada asset, drove significant margin expansion and balance sheet improvement. The company plans to increase the Tangana unit's daily processing capacity to 1,000 tonnes in the third quarter of 2026, while advancing a 40,000-meter drilling program and integrating the newly acquired Pampas gold-silver project into its portfolio. Based on the development of a multi-asset platform, the company maintains its medium-term target of achieving annual production of approximately 6 million ounces of silver equivalent by 2029.
According to data released by Peru's Ministry of Energy and Mines in May 2026, the country's silver production increased 2.3% year-over-year to 880 tonnes in the first three months of 2026. Commodity data provider Trading Economics reported that the spot price of silver stabilized at around US$76 per ounce on May 29, 2026. Over the past year, silver prices have accumulated an increase of approximately 128.79%.
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