Silver X Mining Corp. Reports Improved Financial Results for 2024

Silver X Mining Corp. has released its financial results for the year ending December 31, 2024. The company reported a positive EBITDA of $1.7 million compared to a negative EBITDA of $8 million in 2023. Revenue increased by 39% to $21.9 million, driven by a rise in production at the Nueva Recuperada Project in Peru.

The Tangana Mining Unit saw a 36% increase in processed tonnage, contributing to a 20% rise in silver equivalent ounces produced. Improved operational efficiencies led to a decrease in production costs per tonne, and Silver X plans to expand production in 2026 with its new Plata Mining Unit.

Despite the achievements, the company faced a net loss before tax of $3.4 million, reduced from $10.8 million in 2023. A focus on cost management helped lower the all-in-sustaining cost per silver equivalent ounce.