Silver X Mining Corp.
Record Production and Revenue, Narrowed Losses
Published: 4/28/2025
Author: FRC Analysts
Sector: Basic Materials | Industry: Other Industrial Metals & Mining
Ticker Symbols:AGX.V - NEO 🔹AGXPF - NASDAQ 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $0.16 |
| Fair Value | CAD $0.8 |
| Risk | 4 |
| 52 Week Range | CAD $ |
| Shares O/S (M) | 222 |
| Market Cap. (M) | CAD $36 |
| Current Yield (%) | N/A |
| P/E (forward) | N/A |
| P/B | 1.9 |
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Report Highlights
- 2024 production from the Nueva Recuperada silver-polymetallic mine in Peru rose 20% YoY to 1 Moz AgEq, in line with our estimate, driven by higher throughput, partially offset by lower grades. Recovery rates and cash costs remained relatively stable.
- Revenue increased 39% YoY to $21.85M, beating our estimate by 1%, while net losses narrowed 64% YoY to $4.45M, better than our forecast of $4.91M, driven by higher production and metal prices.
- Junior silver producers are trading at $1.78/oz, while AGX is at just $0.30/oz, an 83% discount. AGX's forward EV/Revenue is 1.4x, compared to the sector average of 2.6x, a 46% discount.
- In Q1-2025, the company released an updated resource estimate of 208 Moz AgEq across the Tangana Mining Unit (TMU), and the Plata Mining Unit (PMU). Production at the PMU is expected to begin
