en.Wedoany.com Reported - Silver X Mining (TSX-V:AGX) achieved record revenue of C$13.4 million (approximately US$13.53 million) in the first quarter of 2026, a 155% increase compared to the same period in 2025.
The company reported operating profit of C$7.0 million, up 791% from C$0.8 million in Q1 2025. Net profit stood at C$4.6 million, compared to a net loss of C$0.3 million in the same period of 2025. EBITDA totaled C$6.1 million, with adjusted EBITDA at C$5.9 million, reflecting stronger performance compared to the prior period.
As of March 31, 2026, Silver X held cash and cash equivalents of C$53.8 million, an increase of C$10.1 million from December 31, 2025. In the first quarter of 2026, the company processed 44,883 tonnes of ore, up 12% year-over-year, and mined 40,946 tonnes, essentially flat compared to the same period last year. Silver production increased 35% year-over-year and 9% quarter-over-quarter.
CEO José Garcia stated that stronger precious metal prices, combined with disciplined execution at the flagship Nueva Recuperada project, have driven significant margin expansion and balance sheet improvement. Garcia noted, "The company is well-capitalized and advancing its growth plans: increasing production at the Tangana mine to 1,000 tonnes per day in the third quarter, completing a 40,000-meter drilling program, and integrating the Pampas project." He further indicated that, building on this foundation, the company is on track to achieve a medium-term annual production target of approximately 6 million ounces of silver equivalent by 2029, supported by a multi-asset platform designed for sustained value creation.
Silver X is a producer and developer focused on a portfolio of assets in Peru, holding a district-scale mineral claim block known as the Nueva Recuperada Silver District. This project includes the producing Tangana Mining Unit, the restartable Plata Mining Unit, and a series of follow-up development and high-impact exploration targets. The Nueva Recuperada project covers a large portion of the Huachocolpa mining district, encompassing silver-gold-lead-zinc-copper epithermal veins and other deposit types primarily hosted in Cenozoic volcanic rocks.
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